The global electrical enclosure market is anticipated at USD 46.6 billion in 2022. Demand is likely to remain high for electrical enclosures during the assessment period. This is due to the increased mining operation and garnering USD 81.3 billion in 2033, recording a CAGR of 5.2% from 2023 to 2033. The market is likely to secure USD 49.0 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Electrical Enclosure Market Size Value in 2023 | USD 49.0 billion |
| Electrical Enclosure Rental Market Forecast Value in 2033 | USD 81.3 billion |
| Global Growth Rate | 5.2% CAGR |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 4.8% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.2% |
The global electrical enclosure market grew at a CAGR of 4.8% over the past assessment period 2018 to 2022.
Electrical enclosures are cabinets for electronic and electrical equipment to mount electrical displays, knobs, and switches and prevent the equipment user from getting electrified. They are enabled with locks to prevent the electrical circuits from external factors such as rain, dust, moisture, and others.
Owing to their high safety attributes, electrical enclosures are extensively being used across electricity distribution, energy, and power production, and building construction activities. This is expected to assist the market to reach USD 81.3 billion by the end of 2033 in comparison to the USD 49 billion registered in 2023.
Principal Consultant
The Construction of Renewable Energy Infrastructure Favor the Electrical Enclosure Market Growth
Rising environmental concerns related to nuclear energy and fossil fuels are encouraging governments worldwide to shift their focus to alternative sources of energy such as wind and solar energy. They are extensively focusing on the construction of green energy infrastructures to make use of renewable resources.
For instance, the Government of India announced allocating USD 4.59 Billion for the construction of green energy infrastructures to increase the renewable energy capacity to 25,750 MW by 2022 under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan.
The construction of solar panels and windmills is significantly increasing the demand for electrical security solutions such as electrical enclosures to prevent the theft of electricity and safeguard electrical circuits from external factors such as dust, rain, and others. A slew of such developments across the world is anticipated to create lucrative growth opportunities in the market.
As per FMI, the sales in the global electrical enclosures market are projected to increase at a CAGR of 5.2% over the forecast period 2023 to 2033.
“Installation on New Power Grids to Bolster the Demand for Electrical Enclosure Box”
The United States is anticipated to exhibit impressive growth in the North American electrical enclosures market through 2033, assisting the region to account for nearly 16.5% of the total sales by 2023.
With the trend of urbanization and industrialization on the surge, a significant rise in demand for electricity is been witnessed across the United States, the government in the country is increasingly focusing on the installation of new transmission and power distribution lines in order to create a strong national grid.
Increasing transmission and distribution activities are estimated to create strong demand for electrical enclosures box in the United States over the coming years.
“Government Initiatives for Electrification to Elevate the Sales of Electrical Cabinets”
As per FMI, India is estimated to emerge as a highly lucrative electrical enclosures market, accounting for more than 4.8% of the revenue share by the end of 2023.
The Government of India is aiming at adopting various initiatives for strengthening the power distribution infrastructure and increasing the rate of electrification to address the growing power demand across urban and rural areas.
For instance, the Ministry of Power in India has announced launching a Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) scheme to increase the rate of electrification and improve the quality & reliability of power supply in rural areas. Such initiates are projected to create sales opportunities for electrical cabinets in the India market.
“Rising Emphasis on Renewable Power Generation to Accelerate Outdoor Electrical Enclosures Sales”
China, being the largest producer of solar and wind energy in the world, is forecast to continue dominating the global electrical enclosures market, accounting for more than 39% of the demand share through 2023, reveals FMI.
China is investing increasingly to encourage the production of clean energy to achieve its aim of producing nearly 35% to 39% of non-fossil fuel power, annually. For instance, according to the Center for Strategic & International Studies, the National Energy Administration in China has announced its plan of investing over USD 360 Billion in the development of renewable energy.
As outdoor electrical enclosures are extensively used for protecting electrical components and circuits for harsh external environments in solar and wind plants, a multiplicity of such developments in the country is expected to propel the demand in the China market.
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“Growing Use in Residential and Commercial Sectors Favor the Electrical Enclosures Box Demand”
The junction enclosure segment is projected to register growth at a rapid CAGR over the assessment period.
Increasing usage of junction electrical enclosures in the residential and commercial sector to provide housing for electrical wirings exposed to external environmental factors and protect them from vandalism is estimated to fuel the demand for electrical enclosure boxes across the segment.
“Increasing Inclination towards Non-metallic Protective Solution to Spur the Sales of Plastic Electrical Enclosure Boxes”
In terms of material type, the global electrical enclosure market is segmented into metallic and non-metallic. As per FMI, the non-metallic segment is forecast to account for the dominant share from 2023 to 2033.
Rising customer inclination towards adopting non-metallic protective solutions at renewable energy production plants, owing to favorable attributes such as high durability, non-conductivity, low cost, and resistance to water, heat, and dust, is spurring the sales of plastic electrical enclosure boxes across the segment.
“Introduction of Customized Electrical Enclosure Cabinets to Facilitate Growth”
The custom type segment is anticipated to register rapid growth in the electrical enclosure market, states FMI. Leading players in the market are extensively focusing on introducing customized electrical enclosure cabinets as per end-use applications. This is estimated to facilitate the growth in the segment.
On the basis of configuration type, the freestanding segment is projected to account for a significant share of the global electrical enclosure market through 2033. Growing applications of freestanding electrical enclosures across external power production, transmission, and distribution are expected to favor the sales in the segment.
“Surging Government Investment to Elevate the Sales of Switch Enclosures”
FMI reveals that the residential and commercial segment is projected to exhibit growth at a robust CAGR during the forecast period 2023 to 2033.
Increasing government investment in strengthening electrical infrastructure and expanding the residential and commercial sector prompted by the trend of urbanization across China, India, and the United States among others is expected to accelerate the sales of switch enclosures across the segment.
Key players operating in the electrical enclosure market are aiming at developing and launching novel products to strengthen their product portfolio and gain a competitive edge. Other manufacturers are focusing on adopting inorganic strategies such as mergers and acquisitions to increase their market share.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2023 to2033 |
| Market Value in 2023 | USD 49 billion |
| Market Value in 2033 | USD 81.3 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Material Type, Design, Configuration, End-use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Schneider Electric SE; Legrand SA; Hubbell Inc.; Emerson Electric Co.; ABB Ltd; Eaton Corporation; Eldon Holding AB; AZZ Inc.; Austin Electrical Enclosures; Siemens AG; Pentair PLC; Rittal GmbH & Co. Kg.; Adalet (Scott Fetzer Company) |
| Customization of Report | Available Upon Request |
The global electrical enclosure market is valued at USD 49.0 billion in 2023.
The global electrical enclosure market size is likely to reach USD 81.3 billion by 2033, recording a CAGR of 5.2%.
The electrical enclosure market developed at a CAGR of 2% from 2018 to 2022.
The custom type segment is poised to demonstrate significant growth within the electrical enclosure market.
China is set to maintain over 39% demand share in the global electrical enclosures market in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Junction Enclosures 5.2. Disconnect Enclosures 5.3. Operator Interface 5.4. Enclosures 5.5. Environment and Climate 5.6. Control Enclosures 5.7. Push Button Enclosures 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Metallic 6.1.1. Aluminium 6.1.2. Mild steel 6.1.3. Stainless Steel 6.2. Non-Metallic 6.2.1. Fiberglass 6.2.2. Polycarbonate 6.2.3. Polyester 6.2.4. ABS 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Design 7.1. Standard Type 7.2. Custom Type 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Configuration 8.1. Wall Mount Enclosures 8.2. Floor Mount Enclosures 8.3. Freestanding Enclosures 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Sector 9.1. Industrial 9.2. Residential and Commercial 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Schneider Electric SE 20.2. Legrand SA 20.3. Hubbell Inc. 20.4. Emerson Electric Co. 20.5. ABB Ltd 20.6. Eaton Corporation 20.7. Eldon Holding AB 20.8. AZZ Inc. 20.9. Austin Electrical Enclosures 20.10. Siemens AG 20.11. Pentair PLC 20.12. Rittal GmbH & Co. Kg. 20.13. Adalet (Scott Fetzer Company) 21. Assumptions & Acronyms Used 22. Research Methodology
Industrial Automation
July 2023
REP-GB-17760
253 pages
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Electrical Enclosure Market
