Industrial Enclosures Market by Type, End-user, and Geographic Landscape — Forecast and Analysis 2020–2024
The industrial enclosures market size has the potential to grow by $1.69 billion during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by type (metallic and non-metallic), end-user (process and discrete), and geographic landscape (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including ABB Ltd., Berkshire Hathaway Inc., Eaton Corporation Plc, Emerson Electric Co., Hubbell Inc., IMS Companies LLC, nVent Electric Plc, Rittal GmbH & Co. KG, Sanmina Corp., and Schneider Electric SE.
The increasing use of electrical equipment and electronics in manufacturing processes is one of the critical factors that will drive industrial enclosures market growth. A severe shortage of power, especially in developing countries, has become a primary concern for various industries, which has resulted in the growing importance of energy-efficient devices over the past decade. The use of safety devices such as variable frequency drives (VFDs), vacuum contactors, motor control center (MCC), and motor controller aids help in reducing overall operational expenses. Industrial electrical enclosures are used to house electronic components and instruments such as VFDs, low harmonic drives, vacuum controllers, and motor control centers. The demand for these safety devices is forecasted to grow rapidly over the next five years, which will, in turn, boost the growth of the global industrial enclosures market. The increasingly stringent standards for enclosure design will drive the industrial enclosures market at a CAGR of almost 5% during the forecast years.
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Industrial manufacturing has witnessed a change in the overall process with automation and robotics playing a significant role in this change due to the need to reduce the overall operating cycle time. The increased use of automation and robotics has increased productivity in the manufacturing industry, along with the density of the electrical and electronic equipment used in the manufacturing facilities. The uses of automated equipment and solutions have increased the demand for industrial communication systems. Automated equipment and software generate large amounts of data, which need to be stored in servers for analysis and deriving actionable insights. Industrial communication systems include strong communication infrastructure with the use of servers, data centers, and communication wires. All these communication systems require rack-mounted or wall-mounted enclosures to protect them from electromagnetic interference (EMI), dust, and unintentional human contact. The use of automated equipment will have a significant influence on the growth of the industrial enclosures market.
