Electrical Enclosures Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.64 Billion |
| Market Size (2029) | USD 10.32 Billion |
| CAGR (2024 - 2029) | 6.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electrical Enclosures Market Analysis
The Electrical Enclosures Market size is estimated at USD 7.64 billion in 2024, and is expected to reach USD 10.32 billion by 2029, at a CAGR of 6.20% during the forecast period (2024-2029).
Owing to the increasing power and industrial infrastructure, the need for protection of the workplace and workforce is also increasing, which has led to the adoption of safety standards for the equipment in the industries. It has made electrical enclosures a crucial element in industrial and residential applications.
- Global energy consumption continues to grow significantly, as electricity demand is increasing as the trend for an ever-connected world accelerates. According to BP, Iceland has the largest per capita electricity consumption worldwide, averaging 52.98 megawatt-hours per person in 2021. It is due to the presence of energy-intensive industries in the country. Such instances are further driving the demand for electrical enclosures.
- Power generated from solar and wind sources uses sensitive electrical components and batteries that, if exposed to the elements, cause a system failure. Therefore, the energy generation sector uses electrical enclosures significantly for safety purposes.
- The acceptance of industrial and factory automation allows the entry of more mechanical, electromechanical, and solid-state devices, components, and controls that need to be enclosed for safety and aesthetic purposes, thereby driving the market growth. As a result, many countries have implemented stringent safety regulations globally, and this parameter is significantly driving the growth of the electrical enclosures market.
- For instance, the Construction Safety Alliance of Maine, SafetyWorks, and the Workplace Safety and Health Division of the Maine Department of Labor joined forces in August 2022 to promote workplace safety and health and inform construction employers and workers in the state about safety and health risks.The alliance will safeguard workers by lowering and minimizing exposure to construction-related risks like falls, injuries from being struck by objects, electrocution, and getting entangled in or between machinery and vehicles.
- The market is witnessing various developments as fabricators, and tier suppliers continue to develop composite solutions for protective battery enclosures. For instance, in March 2022, Mexico-based automotive tier 1 Katcon developed a multi-material toolbox for cost-effective, scalable EV battery enclosure design.
- The Coronavirus pandemic complicated the situation of the adoption of electrical enclosures in various sectors. It has changed the standard operating procedure by bringing in unique challenges of social distancing and contactless operation. Organizations were forced to limit their workforce and deal with the increasing demand. With the shutdown of several industries, the market witnessed a negative impact. Although, with the ease of restrictions and the opening of industries at full capacity, the market has started to gain traction.
Electrical Enclosures Market Trends
Energy and Power End-User Industry to Hold a Significant Share
- Environmental issues related to fossil fuels and nuclear energy are prompting a rise in alternative energy sources, such as solar and wind energy. Solar and wind energy are considered safe, pollution-free renewable energy. Countries around the world are embracing this technology.
- Power generated from solar and wind sources uses sensitive electrical components and batteries that, if exposed to the elements, cause a system failure. Therefore, the energy generation sector uses electrical enclosures significantly for safety purposes.
- Wind and solar energy equipment require seismic protection, EMC shielding, electronics cooling, security, resistance to corrosion, and integration of power conversion and multi-component systems, which are achieved using electrical enclosures.
- As electrical enclosures are deployed to protect the electrical and electronic components and systems of solar, wind, and electrical power plants, government regulations also support the adoption of renewable energy sources, thereby boosting the demand for electrical enclosures.
- Regions are coming up with various initiatives to produce renewable energy sources, further fueling the demand for electrical enclosures. For instance, in August 2021, the Indian Government proposed a set of rules, "Draft Electricity Rules, 2021," for promoting renewable energy through green energy open access. The proposed rules aim to push for faster adoption of renewable power by addressing various concerns related to the green energy sector.
North America Is Expected To Witness Significant Growth Rate
- The growing industrial automation and smart home integration are expected to drive the electrical enclosures market significantly in this region, mainly due to the United States being an early adopter of industrial automation.
- About 61% of electricity generation was from fossil fuels in 2021. About 19% of the energy from fossil fuels was from nuclear energy, and about 20% was from renewable energy sources. The U.S. Energy Information Administration estimates an additional 49 billion kWh of electricity generation from small-scale solar photovoltaic systems in 2021. The regulating bodies in the region have been the prime players in stimulating the demand for electrical enclosures.
- There is a significant penetration of smart homes in North America owing to growing security concerns and awareness of energy conservation. The technological advancements in smart devices and the adoption of those devices into many households are expected to act as opportunities for the electrical enclosures market, owing to the consumer behavior of having a clean environment.
- The increasing establishment of such plants and the stringent rules associated with them are expected to drive the electronic enclosures market exponentially in the North American region. The U.S. Department of Energy (DOE) recently announced USD 61 million for ten pilot projects to deploy new technology for transforming thousands of homes and workplaces into energy-efficient buildings.
Electrical Enclosures Industry Overview
The electronic enclosure market is moderately fragmented. Industry 4.0 and the increasing energy consumption in different regions provide opportunities in the electronic enclosures market. The players in the market are adopting major strategies, like product innovations, mergers and acquisitions, and strategic partnerships, to widen their product portfolio and expand their geographical reach. Some of the players in the market are ABB Ltd, Emerson Electric, and Schneider Electric SE, among others.
In July 2022 - Schneider Electric announced the launch of PrismaSeT S, a new series of enclosures that makes the installation of electrical distribution in commercial and industrial buildings equivalent to residential in terms of installation but more resistant to hard applications. PrismaSeT S supports Schneider Electric's initiative for being more sustainable by using parts of recycled plastic materials in its manufacturing process.
In March 2022 - Magna International Inc. announced that the company is expanding its battery enclosures operations in Canada to support new business from Ford Motor Company. The new 170,000-square-foot facility is expected to generate up to 150 new jobs and produce battery enclosures for the Ford F-150 Lighting.
Electrical Enclosures Market Leaders
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Schneider Electric SE
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ABB Ltd
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Rittal GmbH & Co. KG
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Emerson Electric Co.
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Hubbell Inc.
*Disclaimer: Major Players sorted in no particular order
Electrical Enclosures Market News
- Oct 2022: Tri-Mack Plastics Manufacturing Corp, a high-performance thermoplastic parts manufacturer, announced the development of a lightweight, high-strength enclosure made from unidirectional (UD) carbon fiber-reinforced thermoplastic (CFRTP) tape and only forty-thousandths of an inch (0.40-inch) thick.
- Feb 2022: Siemens, in partnership with Nexii Building Solutions, has announced a new sustainable EV charging concept structure designed for electrifying fleets and high-demand charging applications at scale. The new VersiCharge XL concept was created to electrify new or existing parking lots and building structures quickly and efficiently using a modular, scalable design.
Electrical Enclosures Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Power Infrastructure Developments
5.1.2 Rising Adoption of Industrial Automation
5.2 Market Restraints
5.2.1 Quality and Safety Concerns
6. MARKET SEGMENTATION
6.1 By Material
6.1.1 Metallic
6.1.2 Non-metallic
6.2 By End-user Industry
6.2.1 Energy and Power
6.2.2 Industrial (Automotive and Manufacturing)
6.2.3 Process Industries
6.2.4 Other End-user Industries (Transportation, Infrastructure, and Telecommunication)
6.3 By Geography***
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.3 Asia
6.3.3.1 China
6.3.3.2 India
6.3.3.3 Japan
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Schneider Electric SE
7.1.2 Legrand SA
7.1.3 Hubbell Inc.
7.1.4 Emerson Electric Co.
7.1.5 ABB Ltd
7.1.6 Eaton Corporation
7.1.7 Eldon Holding AB
7.1.8 AZZ Inc.
7.1.9 Austin Electrical Enclosures
7.1.10 Siemens AG
7.1.11 Pentair PLC
7.1.12 Rittal GmbH & Co. Kg.
7.1.13 Adalet (Scott Fetzer Company)
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Electrical Enclosures Industry Segmentation
An electrical enclosure is a cabinet for electrical or electronic equipment to mount switches, knobs, and displays to prevent electrical shock to equipment users and protect the contents from the environment. Electrical enclosures are made of two types of material, metallic and non-metallic. The electrical enclosures are used in energy, power, industrial, process, transportation, infrastructure, and telecommunication industries.
The electronic enclosure market is segmented by material (metallic, non-metallic), by end-user industry (energy and power, industrial [automotive and manufacturing], process industries, other end-user industries [transportation, infrastructure, and telecommunication], by Geography (North America [[United States, Canada], Europe [United Kingdom, Germany, Rest of Europe], Asia Pacific [China, India, Japan, and Rest of Asia Pacific], Latin America, Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.
| By Material | |
| Metallic | |
| Non-metallic |
| By End-user Industry | |
| Energy and Power | |
| Industrial (Automotive and Manufacturing) | |
| Process Industries | |
| Other End-user Industries (Transportation, Infrastructure, and Telecommunication) |
| By Geography*** | |||||
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| Australia and New Zealand | |||||
| Latin America | |||||
| Middle East and Africa |
Electrical Enclosures Market Research FAQs
How big is the Electrical Enclosures Market?
The Electrical Enclosures Market size is expected to reach USD 7.64 billion in 2024 and grow at a CAGR of 6.20% to reach USD 10.32 billion by 2029.
What is the current Electrical Enclosures Market size?
In 2024, the Electrical Enclosures Market size is expected to reach USD 7.64 billion.
Who are the key players in Electrical Enclosures Market?
Schneider Electric SE, ABB Ltd, Rittal GmbH & Co. KG, Emerson Electric Co. and Hubbell Inc. are the major companies operating in the Electrical Enclosures Market.
Which is the fastest growing region in Electrical Enclosures Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electrical Enclosures Market?
In 2024, the Asia Pacific accounts for the largest market share in Electrical Enclosures Market.
What years does this Electrical Enclosures Market cover, and what was the market size in 2023?
In 2023, the Electrical Enclosures Market size was estimated at USD 7.17 billion. The report covers the Electrical Enclosures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electrical Enclosures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electrical Enclosure Industry Report
Statistics for the 2024 Electrical Enclosure market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Electrical Enclosure analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
