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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 To meet the rising demand, the utilities sector is increasingly focusing on modifying the outdated power infrastructure to add new resources to the grid and mitigate cybersecurity risk.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.
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.
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.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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