The Electrical Enclosure Market is Predict to reach USD 13.3 Billion by 2031, at a CAGR of 7.3%

Electrical Enclosure Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Electrical Enclosure Market size is expected to reach $13.3 billion by 2031, rising at a market growth of 7.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 16043.9 thousand units, experiencing a growth of 14.6% (2020-2023).

Recent developments in the electrical enclosure market reflect advancements in materials, design, functionality, and sustainability, driven by evolving industry trends and customer demands. For example, Rittal, a leading manufacturer of electrical enclosures, has launched the VX25 large enclosure system, which features a modular design, enhanced cable management, and improved flexibility for various industrial applications.

The Non-metallic segment is poised to have a CAGR of 8% during (2024 - 2031). Non-metallic enclosures are significantly lighter in weight compared to their metallic counterparts. This characteristic makes handling, transporting, and installing easier, reducing labor costs and simplifying logistical challenges, especially in applications where weight restrictions or mobility are concerns.

The Energy & Power segment is leading the Global Electrical Enclosure Market by End-user in 2023 thereby, achieving a market value of $4.3 billion by 2031. Energy and power generation facilities, including conventional power plants (such as coal and gas) and renewable energy installations (such as solar farms and hydroelectric dams), require numerous electrical enclosures to house critical equipment like switchgear, transformers, and control systems. These enclosures protect sensitive components from environmental factors, ensure operational safety, and facilitate efficient power distribution.

The Free-Standing segment is anticipated to have a CAGR of 7.8% during (2024 - 2031). Free-standing enclosures offer greater flexibility and versatility. They can be easily relocated or repositioned within a facility, allowing for more efficient use of space and accommodating changes in layout or workflow without the need for extensive modifications. Also, free-standing enclosures often come in modular designs, allowing for easy customization and expansion as needed.

Full Report: https://www.kbvresearch.com/electrical-enclosure-market/

The Asia Pacific region dominated the Global Electrical Enclosure Market by Region in 2023, and would continue to be a dominant market till 2031 thereby, achieving a market value of $4.9 billion by 2031. The Europe region is exhibiting a CAGR of 6.9% during (2024 - 2031). Additionally, The North America region would experience a CAGR of 6.6% during (2024 - 2031).

List of Key Companies Profiled

• Schneider Electric SE
• Hubbell Incorporated
• Siemens AG
• Eaton Corporation PLC
• Rittal GmbH & Co. KG (Friedhelm Loh Stiftung & Co. KG)
• nVent Electric plc
• Hammond Manufacturing Company Limited
• Saipwell Electric Co., Ltd. (Saip Electric Group)
• Fibox Oy Ab
• Equipto Electronics Corporation

Electrical Enclosure Market Report Segmentation

By Material (Volume, Thousand Units, USD Billion, 2020-2031)

• Metallic
• Non-metallic

By End User (Volume, Thousand Units, USD Billion, 2020-2031)

• Energy & Power
• Industrial
• Oil & Gas
• Telecommunications
• Others

By Type (Volume, Thousand Units, USD Billion, 2020-2031)

• Wall-Mounted
• Free-Standing
• Underground

By Geography (Volume, Thousand Units, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Electrical Enclosure Market Size, Trend 2031

• April-2024
• 142 Pages

LAMEA Electrical Enclosure Market Size, Growth Report 2031

• April-2024
• 158 Pages

Europe Electrical Enclosure Market Size | Analysis - 2031

• April-2024
• 161 Pages

Asia Pacific Electrical Enclosure Market Size | Share 2031

• April-2024
• 163 Pages