The Electric Enclosure Market is expected to grow significantly by 2023, reaching a significant valuation of USD 7.91 billion. This expansion shows a noteworthy Compound Annual Growth Rate (CAGR) of 6.27% throughout the anticipated time frame.
One of the main factors driving this market expansion is the spike in demand for effective and secure housing of electrical components, which is being driven by the quick improvements in many different sectors. Businesses and industries that depend on these enclosures to safeguard sensitive electronic equipment may expect a healthy market with great investment opportunity as technological advancements continue to change the environment.
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A slew of strong drivers are promoting the expansion of the electric enclosure market. The first of these is the expanding enclosure demand coming from the renewable energy sector, which reflects the industry's transition to environmentally friendly power sources. Additionally, customers are compelled to look for enclosures that comply with these regulatory criteria due to the market's need for stringent adherence to safety and process laws. This pattern reflects the rising importance of operational safety and the demand for infrastructure that complies. Additionally, the market's velocity is greatly aided by the rise in interest in connected cities, particularly in developing nations.
Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), ABB (Switzerland), Hammond (Canada), and Hubbell (US) are major industry players in the electric enclosure market. Product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships are some of the key strategies adopted by major players to gain a competitive edge in this market.
German-based Rittal has deliberately positioned itself in three different markets: product, software, and system consultancy. The company's product offerings span a wide range, including enclosures and climate control systems, power distribution equipment, and items connected to IT infrastructure. Rittal offers a variety of solutions within the broad category of enclosures, from simple, modest enclosures to complex enclosure systems designed specifically for IT infrastructure, industrial workstations, and specialised applications. The company's broad product portfolio includes operating housings, support arm systems, stand systems, hygienic design enclosures, stainless steel variations, and outdoor enclosures. It also includes console systems, console PCs, and console systems. Rittal serves a number of sectors, including IT, manufacturing, process, power, energy, and others. Rittal operates 11 production facilities across Germany, the US, China, India, Italy, and the UK, enabling it to better meet the needs of various markets. Notably, the company unveiled cutting-edge climate control technology for its enclosures in June 2017. This technology included water cooling, and the company put a special emphasis on air/water heat exchangers with hygienic designs that are particularly useful for the food and beverage sector.
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Buildings & Partners, Industry, Infrastructure, and IT Business are four main areas that Schneider, with its headquarters in France, operates across harmoniously. The business is a significant supplier of electrical enclosures for the buildings & partners industry, specifically under the umbrella of electrical distribution products and solutions. Their product line, which goes by the name Universal Enclosures, includes a wide variety of options, such as steel-mounted enclosures, steel-floor standing enclosures, stainless-steel enclosures, insulating enclosures, thermal management systems, and a number of necessary accessories. Energy, electricity, oil and gas, transportation, weather intelligence, IT, security systems, process and machine management, food and beverage, automotive, and water processing applications are just a few of the many industries that Schneider offers full assistance for. With more than 50 years in the business, Schneider has established itself as a leading provider of thermal management products, electrical control systems, and multipurpose enclosures for the telecom and electrical distribution industries. Notably, Schneider's acquisition of Renewable Choice Energy in January 2017 strengthened its dedication to sustainable practises by offering companies cutting-edge consulting services and solutions that promote the use of clean energy.
Other major companies operating in the Electric Enclosure Market are AZZ (US), Fibox (Finland), Eldon (Spain), Socomec (France), Leviton Manufacturing (US), Adalet (US), and Saginaw Controls and Engineering (US).
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