Electrical Enclosures Market Size, Share, Industry Trends and Forecast to 2030

Electrical Enclosures Market Size & CAGR in 2021

The global electrical enclosures market size was valued at USD 6.3 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 4.5% from 2021 to 2026. The market is expected to reach a value of USD 8.2 billion by 2026.

COVID-19 Impact on the Electrical Enclosures Market

The COVID-19 pandemic had a significant impact on the electrical enclosures market. Due to the lockdowns and restrictions imposed in various regions, there was a disruption in the supply chain and manufacturing processes. However, the market witnessed a surge in demand for electrical enclosures as companies and industries rapidly shifted towards digitalization and automation to ensure business continuity.

Electrical Enclosures Dynamics

The global electrical enclosures market is driven by the increasing demand for energy-efficient solutions, the growing emphasis on workplace safety regulations, and the rising adoption of smart technologies in industrial and commercial sectors. The market is also influenced by factors such as technological advancements in enclosure designs, the expansion of end-use industries, and the focus on sustainable development practices.

Segments and Related Analysis

The electrical enclosures market can be segmented based on material type, product type, industry vertical, and region. By material type, the market is classified into metallic and non-metallic enclosures. Product types include junction boxes, disconnect enclosures, modular enclosures, and others. Industry verticals driving the market growth include energy & power, manufacturing, oil & gas, and telecommunications.

By Region Analysis

In terms of region, North America dominated the global electrical enclosures market in 2021 with a significant market share. This can be attributed to the presence of key market players, technological advancements, and the adoption of stringent safety standards in the region. Europe and Asia-Pacific are also prominent regions in the market due to the increasing infrastructure development and industrialization.

Key Market Players and Competitive Landscape

Some of the key players in the global electrical enclosures market include Schneider Electric, Eaton Corporation, Rittal GmbH & Co. KG, Legrand S.A., and Hubbell Incorporated. These companies are focusing on product innovation, strategic partnerships, and mergers & acquisitions to strengthen their market presence and gain a competitive edge.

Recent Happenings in the Electrical Enclosures Market

1. In April 2022, Schneider Electric introduced a new range of eco-friendly electrical enclosures with enhanced durability and energy efficiency features.

2. Eaton Corporation announced a strategic collaboration with a leading telecommunications company to provide customized electrical enclosures for data centers and smart grid installations.

3. Rittal GmbH & Co. KG launched a series of smart electrical enclosures equipped with IoT capabilities to enable remote monitoring and management of electrical systems.

4. Legrand S.A. expanded its market presence in the Asia-Pacific region by opening a new manufacturing facility for electrical enclosures in India to cater to the growing demand in the region.

5. Hubbell Incorporated acquired a technology startup specializing in modular enclosure designs to enhance its product portfolio and innovation capabilities in the electrical enclosures market.