Maximize Market Research recently released a report titled Electronic Enclosure Market The report examines new opportunities, trends, and forecasts by Material Type, Mounting Type, Form Factor, Industry Vertical, and Region. The Electronic Enclosure Market is expected to be worth USD 6.94 billion in 2021. During the forecast period, the market is expected to grow at a CAGR of 6.3% percent, reaching a value of USD 10.02 billion by 2027.
Recent Trends in Electronic Enclosure Market:
Environmental concerns about fossil fuels and nuclear vigour are driving an increase in the use of other energy springs such as solar and wind energy. Renewable energy sources such as solar and wind are observed as safe and pollution-free. Countries all over the world are implementing this technology. Solar and wind energy use delicate electrical components and batteries that, if visible to the elements, cause system failure. As a result, electrical enclosures are extensively used in the energy generation sector for safety reasons. Wind and solar energy equipment necessitate seismic protection, EMC shielding, electronics cooling, security, corrosion resistance, and integration of power renovation and multi-component systems, which is proficient through the use of electrical enclosures.
Competitive Analysis on Electronic Enclosure Market:
The market for electronic enclosures is highly disjointed as well as rising energy consumption in various regions creates prospects in the electronic enclosures market. Existing competitors have a high level of reasonable rivalry. Moving forward, the electronic enclosures market is being driven by large company’s innovation approaches.
JSC Rusatom Automated Control Systems and Schneider Electric signed a Memorandum of Understanding and Cooperation aimed at cumulative collaboration for increased safety and reliability, cost-efficiency, and improved keenness of electrical equipment for NPP power units and the electric power grid.
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Electronic Enclosure Market Dynamics:
The major factors driving the growth of the electric enclosure market are increasing acceptance of smart grids, the growing mandate for Industrial Internet of Things allowed enclosures, stringent regulations concerning safety in the workplace, increasing monies in renewable energy projects, a growing ultimatum for hygienic enclosures in the food and beverage industry, cumulative demand for energy and electricity, and increased consumer consciousness about safety.
Acceptance of industrial and factory automation allows for the introduction of more mechanical, electromechanical, and solid-state devices, components, and controls that must be surrounded for safety and aesthetic reasons, driving the market growth. As a result, governments in many countries have implemented stringent safety guidelines around the world, and this factor is meaningfully driving the growth of the electrical enclosures market.
Electronic Enclosure Market Regional Insights:
The North American region held the biggest market share in 2021. Because the United States was an early adopter of industrial mechanisation, the growing industrial automation and smart home integration are probable to suggestively drive the electrical enclosures market in this region. About 63% of this electricity was generated using fossil fuels, a 2% decrease from 69% in 2021. Nuclear energy provided approximately 20% of the energy from fossil fuels, while renewable energy sources provided approximately 17%. According to the US Energy Information Administration, small-scale solar photovoltaic systems produced an additional 30 billion kWh of electricity in 2020. Regulators in the region have been key players in stimulating requests for electrical enclosures.
Because of growing security concerns and energy preservation awareness, there is significant penetration of smart homes in North America. Because of the consumer behaviour of having a clean atmosphere, technological advancements in smart devices and the adoption of those diplomacies into many households are expected to act as prospects for the electrical enclosures market. The increased establishment of such plants, as well as the stringent rules associated with them, are expected to drive the automated enclosures market in North America exponentially.
Electronic Enclosure Market Segmentation:
By Material Type:
Metallic EnclosureNon-Metallic Enclosure
By Mounting Type:
Wall-Mounted EnclosureFree-Standing EnclosureUnderground Electric Enclosure
By Form Factor:
Small EnclosuresCompact Electric EnclosuresFree-Size Electric Enclosures
By Industry Vertical:
Power Generation and DistributionOil & GasMetals & MiningMedicalPulp & PaperTransportationFood & BeveragesOther Industry Verticals
Key Players in Electronic Enclosure Market:
Rittal GmbH & Co. Kg.Schneider ElectricABB Ltd.Eaton CorporationEmerson Electric Co.Pentair PLC.AZZ IncorporatedLegrand SAHubbell IncorporatedSocomec Group SAHammond ManufacturingFiboxSaginaw Control and EngineeringLeviton Manufacturing LtdAdalet Ltd.
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About Maximize Market Research:
Maximize Market Research, a global market research firm with a dedicated team of experts and data, has conducted extensive research on the electronic enclosure market. Maximize Market Research is well-positioned to estimate and forecast market size while taking the competitive landscape of the sectors into account. Maximize Market Research has a strong unified team of industry professionals and analysts across sectors to ensure that the entire Industry ecosystem is taken into account, taking into account all current developments, newest trends, and futuristic – the technology influence of distinctively specific industries. The company’s technique is specifically tailored to the agreed-upon scope and purpose of the study.
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