The global Fiberglass Electrical Enclosure Market is set to be valued at USD 310 million in 2023 and is likely to record a CAGR of 5.9% from 2023 to 2033. The fiberglass electrical enclosure industry is anticipated to reach a valuation of USD 550 million by 2033.
High chemical and corrosion resistance are some novel features of fiberglass electrical enclosures. Owing to the abovementioned advantages, they are highly preferred over other substitutes, such as metallic electrical enclosures.
In a fiberglass electrical enclosure, corrosive substances like water, salts, acids, and bases have the least influence. Due to this feature, demand for fiberglass electrical enclosures is increasing rapidly across the globe.
According to FMI, East Asia is anticipated to continue to be the most lucrative market, making up more than one-third of global sales by 2023. By product type, the junction enclosures category is anticipated to experience strong growth between 2023 and 2033 in terms of share.
Rising investments in electricity grids, energy infrastructure, electrical poles, switches, panels, and meters may spur the demand for fiberglass electrical enclosures. The market accounts for 4% to 6% of the global market, finds FMI.
Fiberglass Electrical Enclosure Industry (From 2018 to 2022)
| Attributes | Details |
|---|---|
| Market HCAGR (From 2018 to 2022) | 3.7% |
| Market Size - 2018 | USD 253.4 million |
| Market Size - 2022 | USD 292.6 million |
Fiberglass Electrical Enclosure Industry (From 2023 to 2033)
| Attributes | Details |
|---|---|
| Market CAGR (From 2023 to 2033) | 5.9% |
| Market Size - 2023 | USD 310 million |
| Market Size - 2033 | USD 550 million |
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From 2018 to 2022, the fiberglass electrical enclosure market increased at 3.7% CAGR and is projected to record a CAGR of 5.9% in the forecast period. Growth is mainly attributed to rising energy consumption backed by a surging population, rapid urbanization, increasing industrial production, and high mining output.
These factors require dependable power management facilities to build new infrastructure, ultimately raising the demand for fiberglass electrical enclosures.
Demand for fiberglass electrical enclosures has significantly increased due to several rural electrification projects across several regions. Due to their robust safety features, these enclosures are widely used in electricity distribution, energy & power production, and building & construction activities.
Compared to USD 292.6 million recorded in 2023, the abovementioned factors are anticipated to boost the fiberglass electrical enclosure market to reach USD 550 million by the end of 2033.
Rapid Replacement of Outdated Power Infrastructure
Rapid development and replacement of outdated power infrastructure in various parts of the globe to provide uninterrupted and secure electricity transmission from power generation plants to end users are one of the key factors pushing sales of fiberglass electrical enclosures.
As electrical enclosures play a crucial role in building a secure connection in industrial, residential, and commercial buildings, as well as during the transition to the new electric grid, fiberglass electrical enclosure demand is anticipated to increase significantly in the next decade.
Development of Intelligent Power Distribution and Control Networks
Creating an intelligent power distribution and control network may boost the use of fiberglass electrical enclosures, thereby escalating the global market. The rapid expansion of the power supply sector, increased investments in power grid development projects, and surging transmission & distribution of power are accelerating the fiberglass electrical enclosure industry.
Need for Continuous Level Monitoring in Chemical Companies
Fiberglass enclosures are ideal for protecting wireless technology, allowing wireless and radio frequency signals to pass unobstructed through the section. Wireless technology is used in many industries to save time, facilitate faster response times, and improve productivity.
Chemical companies use wireless technology to improve their efficiency & connectivity in plants, enhance workers’ safety, and for continuous level monitoring. Many industries are increasing the installation of fiberglass electrical enclosures to protect remote monitoring systems, sensitive electronics, instrumentation, measurement systems, and electrical wiring.
Fiberglass electrical enclosures are used in many industries for remote monitoring systems and other wireless electrical equipment. Fiberglass electrical enclosures also enable the effective use of antennas inside the section. In addition to this, they provide an option to block EMI/RFI frequencies if needed.
Principal Consultant
| Attributes | Details |
|---|---|
| United States Market Share - 2023 | 19% |
| Australia Market Share - 2023 | 0.6% |
Installation of New Power Grids in the United States to Bolster Demand for Electrical Enclosure Box
The United States is anticipated to exhibit impressive growth in the North American fiberglass electrical enclosure market through 2033, helping the region to account for nearly 17.6% of the total sales by 2023. In the United States, there has been a noticeable increase in demand for electricity due to rapid urbanization and industrialization.
The government emphasizes constructing new electricity transmission and distribution lines to build a robust national grid. The FMI study projects that the United States fiberglass electrical enclosure market to surpass USD 99.2 million by the end of 2033.
Asia Pacific Outlook
| Attributes | Details |
|---|---|
| Japan Market Share - 2023 | 5.2% |
| China Market CAGR (From 2023 to 2033) | 6.7% |
| India Market CAGR (From 2023 to 2033) | 7.3% |
Government Initiatives in India to Speed up Electrification May Elevate Sales of Fiberglass Electrical Cabinets
India is expected to emerge as the leading fiberglass electrical enclosure industry in South Asia & Pacific by the end of 2033. To meet the rising demand for power in both urban and rural areas, the government of India plans to implement many programs to improve the power distribution infrastructure and speed up the electrification rate. From 2023 to 2033, India is expected to develop at a 6.7% CAGR in the fiberglass electrical enclosure market.
Increased Focus of China on Renewable Energy Generation to Boost Sales of Fiberglass Pull Boxes
From 2023 to 2033, China is estimated to thrive at a CAGR of 5.9%. China is the leading producer of solar and wind energy in the world. It is boosting its investments to promote clean energy production to meet its goal of producing nearly 35% to 39% of all electricity yearly without using fossil fuels. The country's increased focus on renewable energy may positively impact growth in the China fiberglass electrical enclosures industry.
| Attributes | Details |
|---|---|
| Germany Market Share - 2023 | 4.4% |
| United Kingdom Market CAGR (From 2023 to 2033) | 4.3% |
The fiberglass electrical enclosure market in Germany is expanding rapidly. Demand for high-quality enclosures is driven by the country's robust industrial sector, concentration on renewable energy, and stringent safety standards. Increasing infrastructural and automation expenditures help market expansion in Germany.
| Segment | Product Type |
|---|---|
| Segment Name | Disconnect Enclosures |
| Segment Share | 52.70% |
Junction Enclosures to Gain Prominence in the Field of Fiberglass Junction Box
Due to their adaptability and critical utility, disconnect enclosures are highly sought after in the fiberglass electrical enclosure industry. They provide a dependable option for safely disconnecting electrical devices and power sources. Manufacturers can capitalize on this choice by giving various disconnect enclosures in multiple sizes, materials, and functions.
They should ensure high-quality construction, adherence to industry standards, and efficient designs catering to numerous industrial applications, meeting client requests, and boosting market growth.
By product type, the junction enclosure segment is projected to capture a CAGR of 5.4% in volume from 2023 to 2033. The junction enclosure category is thus projected to create an absolute dollar opportunity of USD 15.5 million between 2023 and 2033.
| Segment | End Use |
|---|---|
| Segment Name | Industrial |
| Segment Share | 69.20% |
Introduction of Customized Fiberglass Electrical Enclosure Cabinets to Facilitate Growth
Due to various variables, industrial is the dominating end-use segment in the fiberglass electrical enclosure market. Enclosures with better durability, corrosion resistance, and protection against extreme environmental conditions are frequently required for industrial applications.
The industrial sector has a higher requirement for larger enclosures to house complicated electrical systems. These specific requirements, as well as larger-scale initiatives, contribute to the industrial segment's market supremacy.
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Over the past few years, companies have engaged in acquisition and expansion activities to improve their supply chain associated with fiberglass electrical enclosures. Leading fiberglass electrical enclosure manufacturers provide a wide range of customized fiberglass electrical enclosures depending on the requirement of customers.
Pivotal Fiberglass Electrical Enclosure Players
| Company | Rittal |
|---|---|
| Strategy | Rittal North America Unveils RiPanel |
| Details | In April 2022, Rittal North America, a global manufacturer of industrial and IT enclosures, announced the new RiPanel online enclosure configurator, making it easy for machine and control system design engineers to individually configure industrial enclosures. |
| Company | Eaton |
|---|---|
| Strategy | Eaton Bolsters Data Center and Industrial Offerings with Tripp Lite Acquisition |
| Details | In March 2021, Eaton acquired Tripp Lite., which is a leading supplier of power quality products and connectivity solutions, including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications markets in the United States. |
Founded in 1961 and renamed in 1969, Rittal is one of the prominent players in the fiberglass electrical enclosure space. The company has a strong presence across the globe. It offers a wide range of products, such as small enclosures, compact enclosures, IT rack systems, IT enclosures, console system enclosures, and outdoor enclosures.
The company mainly focuses on partnerships, collaborations, new product launches, and safety hazard prevention to boost its position in the enclosure space.
Schneider Electric, on the other hand, continues to focus on sustainability and energy efficiency to appeal to today’s environmentally-conscious consumers. The company has over 128,000 employees globally; its 2021 revenues were nearly USD 29 billion. It also has a wide range of fiberglass electrical enclosures, including modular sections such as Resi9 MP, Easy9 MP enclosures, Resi9 CX Enclosures, and Micro Pragma.
The company is also focusing on launching innovative products that may boost efficiency and reduce the risk of errors.
As part of its sustainability initiatives, the company shared the findings of independent research that focus on sustainability initiatives concerning IT and data center organizations. To help IT professionals address the challenges, Schneider Electric introduced APC Smart-UPS Ultra in August 2022.
Headquartered in the United States, Emerson operates through two core business platforms: automation solutions and commercial & residential solutions. The company is focused on developing high-quality fiberglass electrical enclosures that can withstand extreme conditions. Its products have a strong presence in the enclosure space, such as O-Z/Gedney Class 681 and O-Z/Gedney Class 650.
The company also focuses on confidence-building measures to boost the morale of its investors. It regularly promotes its quarterly earnings and provides full transparency of its business.
The market is valued at USD 310 million in 2023.
From 2018 to 2022, the market registered a CAGR of 3.7%.
The market shall reach USD 550 million in 2033.
The market’s CAGR from 2023 to 2033 will be 5.9%.
Siemens AG, ABB Limited and, Adalet Inc. are key market players.
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 Enclosures 5.4. Environmental & Climate Control Enclosures 5.5. Push Button Enclosures 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Design 6.1. Standard Type 6.2. Custom Type 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Industrial 7.2. Residential & Commercial 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 Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Schneider Electric SE 19.2. Legrand S.A. 19.3. Eaton Corp. 19.4. Hubbell Incorporated 19.5. Siemens AG 19.6. ABB Limited 19.7. Adalet Inc. 19.8. Emerson Electric 19.9. General Electric Company 19.10. Rittal GmbH & Co. KG 19.11. ROSE Systemtechnik GmbH 19.12. Hammond Manufacturing Ltd. 19.13. Elettrocanali S.p.A. 19.14. OBO Bettermann Holding GmbH & Co. KG 19.15. Spelsberg 19.16. Gustav Hensel GmbH & Co. KG 19.17. Conextube 19.18. NITTO KOGYO CORPORATION 19.19. Hager Bocchiotti Spa 19.20. Palazzoli S.p.A. 20. Assumptions & Acronyms Used 21. Research Methodology
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Fiberglass Electrical Enclosure Market
