Electric Enclosure Market to Grow at 6.27% CAGR to 2023

PUNE, India, March 6, 2018 /PRNewswire/ --

ReportsnReports.com adds Electric Enclosure Market is forecast to reach $7.91 billion by 2023 from $6.15 billion in 2018 at a CAGR of 6.27% during (2018-2023) driven by increasing demand for enclosures from the renewable energy sector, stringent safety and process regulations, which are forcing users to look for enclosures that are compliant to regulations, and increased focus on connected cities in developing regions.

Browse 68 Market Data Tables and 41 Figures spread through 156 Pages and in-depth TOC on "Electric Enclosure Market by Mounting Type, Form Factor, Material, Industry Vertical (Power Generation & Distribution, Oil & Gas, Metals & Mining, Medical, Pulp & Paper, Food & Beverage, Transportation), and Geography - Global Forecast to 2023" http://www.reportsnreports.com/reports/1371629-electric-enclosure-market-by-mounting-type-form-factor-material-industry-vertical-power-generation-distribution-oil-gas-metals-mining-medical-pulp-paper-food-beverage-transportation-and-geograp-st-to-2023.html .

The major players in the electric enclosure market are Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), Hammond (Canada), Fibox (Finland), Adalet (US), AZZ (US) and Legrand (France).

The APAC expected to lead the electric enclosure market between 2018 and 2023. APAC is expected to hold the largest size of the electric enclosure market during the forecast period. Key factors driving the electric enclosure market in APAC are the increasing demand for energy & power from residential and commercial sectors and increased focus on automation in the manufacturing sector is expected to drive the market for electric enclosures in the region.

Inquire for DISCOUNT on "Electric Enclosure Market by Mounting Type, Form Factor, Material, Industry Vertical (Power Generation & Distribution, Oil & Gas, Metals & Mining, Medical, Pulp & Paper, Food & Beverage, Transportation), and Geography - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1371629 .

The electric enclosure market growth is driven by the development strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships. However, the major restraining factors for the growth of this market are the high lead times of electric enclosures. APAC will lead the demand for electric enclosures in the power generation & distribution segment during the forecast period.

The power generation & distribution application expected to lead the Electric Enclosure Market between 2018 and 2023. Among various applications, the power generation & distribution industry is expected to account for the largest size of the overall electric enclosure market between 2018 and 2023. Electric enclosures are required for the housing and protection of electric/electronic equipment from water, ice, oil, and harsh environmental conditions. Electric enclosures enhance the safety of end users and electronic/electric equipment, even in energy-generation stations. Similarly, in power transmission & distribution, electric enclosures are used to keep the circuitry safe from external damage.

The electric enclosure market for underground electric enclosures is expected to grow at the highest CAGR between 2018 and 2023. Illustrative segmentation, analysis, and forecast for the market on the basis of Mounting type, Form factor, Material type, industry application, and geography have been conducted to give the overall view of the Electric enclosure market.

Order a copy of "Electric Enclosure Market by Mounting Type, Form Factor, Material, Industry Vertical (Power Generation & Distribution, Oil & Gas, Metals & Mining, Medical, Pulp & Paper, Food & Beverage, Transportation), and Geography - Global Forecast to 2023" research report at  http://www.reportsnreports.com/purchase.aspx?name=1371629 .

The research report on the electric enclosure market covers the market segmented on the basis of the following segments: Mounting type, Form factor, Material type, Industry vertical, and geography. The market has been segmented on the basis of mounting type as wall-mounted, floor-mounted/free-standing, and underground. Based on form factor, the electric enclosure market has been classified into small enclosure, compact enclosure, and free-size enclosures. The electric enclosure market has been further segmented on the basis of material type of metallic and nonmetallic. The enclosure market on the basis of industry vertical has been segmented into power generation & distribution, oil & gas, metals & mining, medical, pulp & paper, food & beverage, transportation, and others.

The breakup of the profiles of primary participants for the report has been given below.

  • By Company Type: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
  • By Designation: C-Level Executives - 50%, Directors - 25%, and Managers - 25%
  • By Region: North America - 60%, Europe - 20%, APAC - 10%, and RoW - 10%

Another research titled Machine Condition Monitoring Market Global Forecast to 2024 says, the machine condition monitoring market is estimated to grow from $2.38 billion in 2018 to $3.50 billion by 2024, at a CAGR of 6.7% between 2018 and 2024. Cloud deployment is expected to witness a higher CAGR during the forecast period. The market for the automotive industry is expected to witness the highest CAGR during the forecast period. North America is expected to dominate the machine condition monitoring market, while APAC is expected to grow at the highest CAGR during the forecast period. Companies such as ALS Limited (Australia), Emerson Electric (US), General Electric (US), Honeywell (US), Meggitt (UK), National Instruments (US), Parker-Hannifin (US), Rockwell Automation (US), Schaeffler (Germany), SKF (Sweden), Azima DLI (US), Bruel & Kjaer (Denmark), Fluke (US) have been profiled in this 204 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=297820 .

Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

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