Key factors driving growth of electric enclosure market are the development strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships. However, the major restraining factors for the growth of this market is the high lead times of electric enclosures
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The electric enclosure market is likely to witness steady growth in the coming years because of the upturn in the oil & gas industry and the demand for hygienic type enclosures valves in the food & beverages industry. The electric enclosure market is expected to grow from USD 5.84 Billion in 2017 to USD 7.91 Billion by 2023, at a CAGR of 6.27% between 2018 and 2023.
The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.
Electric Enclosure Market, by Material Type
- Metallic (Aluminum, Stainless steel, mild steel, others)
- Nonmetallic (Fiberglass, Polycarbonate, PVC, Polyester)
Electric Enclosure Market, by Mounting Type
- Wall-mounted enclosure
- Floor-mounted/Free-standing enclosure
Electric Enclosure Market, by Form Factor
- Small enclosure
- Compact enclosure
- Free-size enclosure
“Electric enclosure market expected to grow at a significant rate between 2018 and 2023”. “Power generation & distribution application expected to lead the electric enclosure market between 2018and 2023”.
“APAC expected to lead electric enclosure market between 2018 and 2023”. Similarly, in power transmission & distribution, electric enclosures are used to keep circuitry safe from external damage
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Major electric enclosure manufacturers have a tight control on pricing of products, which is forcing other manufacturers to reduce price of products to remain in competition. Electric enclosure industry will witness healthy product development programs and innovations in coming years.
Among various applications, power generation & distribution industry expected to account for largest size of overall electric enclosure market between 2018 and 2023.
1 Attractive Opportunities in the Electric Enclosure Market
2 Electric Enclosure Market, By Industry Vertical
3 Electric Enclosure Market, By Mounting Type and Form Factor
4 Electric Enclosure Market, By Region
5 Electric Enclosure Market, By Industry Vertical, 2018–2023
6 Electric Enclosure Market, By Material Type
Electric enclosures are used in power generation & distribution industry in substations to protect critical components and circuitry. Electric enclosures used in oil & gas, metals & mining, and pulp & paper industries are rugged in design and should be able to withstand harsh environm ental conditions.
Over past few years, oil & gas products have witnessed strong demand from developing nations. Such continuously increasing demand for oil & gas products is expected to drive electric enclosure market.
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The research report on the electric enclosure market covers the market segmented on the basis of the following segments: Mounting type, Form factor, Material type, Industry vertical, and geography. The market has been segmented on the basis of mounting type as wall-mounted, floor-mounted/free-standing, and underground.
Key Benefits of Getting the Report:
- Illustrative segmentation, analysis, and forecast for the market on the basis of Mounting type, Form factor, Material type, industry application, and geography have been conducted to give the overall view of the Electric enclosure market.
- The value chain analysis is provided to provide an in-depth insight into the Electric enclosure market.
- Major drivers, restraints, opportunities, and challenges for the electric enclosure market have been described.
- The report includes a detailed competitive landscape and revenue of the key players.
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