Industrial enclosures market to grow at a CAGR of 5.16% from 2022 to 2027, Increasing use of electrical and electronic equipment in manufacturing processes to drive growth - Technavio
NEW YORK, March 21, 2023 /PRNewswire/ -- The industrial enclosures market size is estimated to increase by USD 2,237.84 million from 2022 to 2027, with a CAGR of 5.16%, according to a recent market study by Technavio. The increase in the use of electrical and electronic equipment in manufacturing processes is driving the growth of the market. Industrial electrical enclosures can house electronic components and instruments such as VFDs, low harmonic drives, vacuum contactors, and motor control centers. These enclosures protect electronic devices from dust, moisture, contaminants, and particulate matter. They also provide the systematic organization of components. In addition, safety devices such as variable frequency drives (VFDs), vacuum contactors, motor control centers (MCCs), and motor controllers can reduce power consumption and lower the total cost of ownership. Industrial electrical enclosures protect electronic devices from dust, moisture, contaminants, and particulate matter in indoor and outdoor environments. They also integrate components such as harmonic filters, insulated-gate bipolar transistors (IGBTs), circuit breakers, PLCs, AC reactors, safety relays, regenerative converters, and wiring into one chamber. These factors will drive the demand for industrial enclosures during the forecast period. Discover some insights on the market before buying the full report - Request a sample report
Chart & data table on 5-year historic (2017-2021) market size, comparative analysis of segments, and Y-O-Y growth of industrial enclosures market
The market is segmented by end-user (process and discrete) and type (metallic and non-metallic).
Based on end-user, the process segment will account for a significant share of the market's growth during the forecast period.
Process industries include power generation, oil and gas, chemical and petrochemicals, food and beverages, and pharmaceuticals, among others.
Most industrial processes require machinery such as heating, ventilation, air conditioning (HVAC), compressors, motors, conveyors, pumps, and others.
Damage from dust and moisture can harm the entire production and operational processes.
This impacts performance and also increases the overall cost of ownership.
Industrial enclosures ensure that processes are uninterrupted, with the help of their high strength and protection.
Such factors will drive segment growth during the forecast period.
Chart & data table on historical market size (2017-2021), historic industry size, and analysis of vendors and countries The market is segmented by region APAC, North America, Europe, Middle East and Africa, and South America. An analysis of key leading countries has been included.
APAC is estimated to account for 34% of the growth of the global market during the forecast period. APAC has vast amounts of energy resources to drive industrial growth and support the growing population. Rising oil consumption and increasing crude oil import prices have led to initiatives to support investments in the domestic oil and gas sector. The governments of various countries in APAC are increasing investments in the oil and gas exploration sector to boost the domestic production of natural gas and oil. Therefore, the rising investments are likely to increase the demand for industrial enclosures during the forecast period.
The industrial enclosures market in APAC faced certain challenges due to the outbreak of COVID-19 in 2020. However, in 2021, large-scale vaccination drives led to the reopening of end-user industries, which fueled the demand for industrial enclosures. The market experienced recovery and growth in 2022, which is expected to continue during the forecast period.
What are the key data covered in this industrial enclosures market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the industrial enclosures market between 2023 and 2027
Precise estimation of the size of the industrial enclosures market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the industrial enclosures market industry across APAC, North America, Europe, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of industrial enclosures market vendors
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!
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APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 34%
US, China, Japan, UK, and Germany
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
AZZ Inc., BCH Electric Ltd., Berkshire Hathaway Inc., Chatsworth Products Inc., Eaton Corp. Plc, Emerson Electric Co., Friedhelm Loh Stiftung and Co. KG, HTE Technologies, Hubbell Inc., IMS Companies LLC, Industrial Enclosure Corp., KDM Steel, Legrand SA, nVent Electric Plc, Phoenix Contact GmbH and Co. KG, ROLEC Gehause Systeme GmbH, Rose Systemtechnik GmbH, Schneider Electric SE, TAKACHI ELECTRONICS ENCLOSURE Co. Ltd., ABB Ltd., and Sanmina Corp.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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Exhibit 157: nVent Electric Plc - Business segments
Exhibit 158: nVent Electric Plc - Key offerings
Exhibit 159: nVent Electric Plc - Segment focus
12.16 Sanmina Corp.
Exhibit 160: Sanmina Corp. - Overview
Exhibit 161: Sanmina Corp. - Product / Service
Exhibit 162: Sanmina Corp. - Key offerings
12.17 Schneider Electric SE
Exhibit 163: Schneider Electric SE - Overview
Exhibit 164: Schneider Electric SE - Business segments
Exhibit 165: Schneider Electric SE - Key news
Exhibit 166: Schneider Electric SE - Key offerings
Exhibit 167: Schneider Electric SE - Segment focus
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 168: Inclusions checklist
Exhibit 169: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 170: Currency conversion rates for US$
13.4 Research methodology
Exhibit 171: Research methodology
Exhibit 172: Validation techniques employed for market sizing
Exhibit 173: Information sources
13.5 List of abbreviations
Exhibit 174: List of abbreviations
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