Global outlook of the electrical enclosures market for power industry
Technavio’s market research analysts predict the global electrical enclosures market for power industry to grow steadily during the forecast period and post a CAGR of more than 6% by 2020. This industry research report identifies the need to modernize the existing power grids to be one of the major factors that will have a positive impact on the growth of this market in the coming years. To meet the rising demand, the utilities sector is increasingly focusing on modifying the outdated power infrastructure to add new resources to the grid and mitigate cybersecurity risk. This will witness the implementation of smart grids that use digital and information technology to effectively manage power flow. This will result in creating the demand for smart grid T&D equipment such as synchrophasor, HVDC, re-closers, and volt-VAR control equipment, in turn, boosting the demand for electrical enclosures.
It has been observed that more than a billion people around the globe, especially in regions such as India, North Africa, and Southeast Asia, lack access to electricity. With the developing countries around the world focusing on the need to meet the demand for electricity, the coming years will witness an increasing adoption of smart grids. However, providing electricity to areas that lack a proper supply will require new power cables and other transmission equipment, which will, in turn, propel the growth of the electrical enclosures market for the power industry.
Competitive landscape and key vendors
The market is characterized by the presence of several well-established electrical enclosure manufacturers and also a number of small and regional vendors. The market appears to be highly fragmented, and no market player accounts for the major market shares. Though international players such as ABB, Eaton, Emerson Electric, Pentair, and Schneider Electric dominate the market, the regional or local players offer products at competitive prices, in turn, posing a stiff challenge to the international vendors.
The leading vendors in the market are -
The other prominent vendors in the market are Rittal, Siemens, Legrand, Eldon, AZZ, Hammond manufacturing, Takachi Electronics, Hensel, Wiegmann, BCH Electric, GE, Vynckier, Bud Industries, , Adalet, Schaefer’s, OMP Mechtron, Omega, Rolec, Elsta Mosdorfer, Schrack Technik, Haewa Corporation, Imensa Industrial Automation, Jean Müller, Orlite's cabinets, Altronix Corporation, Bulloch Fabricating Inc, Great Lakes Case & Cabinet, Socomec, R. STAHL, GSAB, Hubbell , Marechal Electric, Meggitt, Sobem-Scame, Tec automatismes, Indelec, ELEKTRA tailfingen Schaltgeräte, Tibox, Boxco, Zhejiang Qixing Electric Technology, DSE HIBOX, Zanardo, and Palazzoli.
Segmentation by application and analysis of the electrical enclosures market for power industry
Transmission and distribution (T&D)
During 2015, the power generation segment accounted for the major market shares and dominated the industry. The rapidly growing demand for electricity and increased investments will demand the need for infrastructure development in the power generation sector. This will subsequently demand the need for electrical enclosures, in turn, propelling market growth.
Geographical segmentation and analysis of the electrical enclosures market for power industry
This market study estimates that in terms of geographical regions, APAC will be the major revenue contributor to the market throughout the next four years. The constantly increasing demand for electricity and the increased focus towards the construction of renewable energy sources, will drive the demand for electrical enclosures in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global electrical enclosures market for power industry?
What are the key market trends impacting the growth of the global electrical enclosures market for power industry?
What are the challenges to market growth?
Who are the key vendors in the global electrical enclosures market for power industry?
What are the market opportunities and threats faced by the vendors in the global electrical enclosures market for power industry?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global electrical enclosures market for power industry?
Technavio also offers customization on reports based on specific client requirement