Future Market Insights delivers key insights on the global electrical enclosure market a new publication. The long-term outlook on the global electrical enclosure market remains positive with the market value expected to increase at a CAGR of 4.9% during the forecast period (2022-2028). Among the end use segments in the electrical enclosure market, the industrial segment is expected to expand at a significant CAGR in terms of value as well as volume over the forecast period. 

Global sales revenue of electrical enclosures is estimated to be valued at US$ 62.22 Bn by the end of 2022. China is estimated to account for a value share of 37.1% in the global electrical enclosure market by 2022 end and is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on the various drivers and restraints likely to impact revenue growth of the market during this period.

2013-2021 Electrical Enclosure Market Outlook in Comparison to 2022-2028 Growth Forecast

The global electrical enclosure market grew at a CAGR of 4.5% over the past assessment period 2013-2021. The demand for electrical enclosures is estimated to grow by 1.4x between 2022 and 2028.

Electrical enclosures are cabinets for electronic and electrical equipment to mount electrical displays, knobs, and switches and prevent the equipment user from getting electrified. They are enabled with locks to prevent the electrical circuits from external factors such as rain, dust, moisture, and others.

Owing to their high safety attributes, electrical enclosures are extensively being used across electricity distribution, energy and power production, and building construction activities. This is expected to assist the market to reach US$ 62.22 Bn by the end of 2028 in comparison to the US$ 44.40 Bn registered in 2021.  

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How will the Construction of Renewable Energy Infrastructure Favor the Electrical Enclosure Market Growth?

Rising environmental concerns related to nuclear energy and fossil fuels is encouraging governments worldwide to shift their focus on alternative sources of energy such as wind and solar energy. They are extensively focusing on the construction of green energy infrastructures to make the use of renewable resources.

For instance, the Government of India announced allocating US$ 4.59 Billion for the construction of green energy infrastructures to increase the renewable energy capacity to 25,750 MW by 2022 under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan.

Construction of solar panels and windmills is significantly increasing the demand for electrical security solutions such as electrical enclosures to prevent the theft of electricity and safeguard the electrical circuits from external factors such as dust, rain, and others. Hence, a slew of such developments across the world is anticipated to create lucrative growth opportunities in the market.

As per FMI, the sales in the global electrical enclosures market are projected to increase at a CAGR of 4.9% over the forecast period 2022-2028.

Why is the Sales of Electrical Enclosure Surging in the U.S.?

“Installation on New Power Grids to Bolster the Demand for Electrical Enclosure Box”

The U.S. is anticipated to exhibit the impressive growth in the North America electrical enclosures market through 2028, assisting the region to account for nearly 15.7% of the total sales by 2022.

With the trend of urbanization and industrialization on the surge, a significant rise in demand for electricity is been witnessed across the U.S. Hence, the government in the country is increasingly focusing on installation of new transmission and power distribution lines in order to create a strong national grid.

Increasing transmission and distribution activities are estimated to create strong demand for electrical enclosures box in the U.S. over the coming years.

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What are the Factors Favoring the India Electrical Enclosure Market Growth?

“Government Initiatives for Electrification to Elevate the Sales of Electrical Cabinets”

As per FMI, India is estimated to emerge as a highly lucrative electrical enclosures market, accounting for more than 4.7% of the revenue share by the end of 2022.

The Government of India is aiming at adopting various initiatives for strengthening the power distribution infrastructure and increasing the rate of electrification to address the growing power demand across urban and rural areas.

For instance, the Ministry of Power in India has announced launching a Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) scheme to increase the rate of electrification and improve the quality & reliability of power supply in rural areas. Such initiates are projected to create sales opportunities for electrical cabinets in the India market.

Why is the China Electrical Enclosure Market Registering Robust Growth?

“Rising Emphasis on Renewable Power Generation to Accelerate Outdoor Electrical Enclosures Sales”

China, being the largest producer of solar and wind energy in the world, is forecast to continue dominating the global electrical enclosures market, accounting for more than 38.2% of the demand share through 2022, reveals FMI.

China is investing increasingly to encourage thed production of clean energy to achieve its aim of producing nearly 35% to 39% of non-fossil fuel power, annually. For instance, according to the Center for Strategic & International Studies, the National Energy Administration in China has announced its plan of investing over US$ 360 Billion in the development of renewable energy.

As outdoor electrical enclosures are extensively used for protecting electrical components and circuits for harsh external environments in solar and winds plants, a multiplicity of such developments in the country is expected to propel the demand in the China market.

Category-wise Insights

Why are Junction Enclosures Gaining Popularity in the Market?

“Growing Use in Residential and Commercial Sectors Favor the Electrical Enclosures Box Demand”

The junction enclosure segment in projected to register growth at a rapid CAGR over the assessment period.

Increasing usage of junction electrical enclosures in the residential and commercial sector to provide housing for electrical wirings exposed to external environmental factor and protect them from vandalism is estimated to fuel the demand for electrical enclosure box across the segment.

Why is the Demand for Non-metallic Electrical Enclosures Surging at a Rapid Pace?

“Increasing Inclination towards Non-metallic Protective Solution to Spur the Sales of Plastic Electrical Enclosure Boxes”

In terms of material type, the global electrical enclosure market is segmented into metallic and non-metallic. As per FMI, the non-metallic segment is forecast to account for the dominant share from 2022 to 2028.

Rising customer inclination towards adopting non-metallic protective solution at renewable energy production plants, owing to favorable attributes such as high durability, non-conductivity, low cost, and resistance to water, heat, and dust, is spurring the sales of plastic electrical enclosure boxes across the segment.

Which Design and Configuration Segments will Account for Dominant Share in the Market?

“Introduction of Customized Electrical Enclosure Cabinets to Facilitate Growth”

The custom type segment is anticipated to register rapid growth in the electrical enclosure market, states FMI. Leading players in the market are extensively focusing on introducing customized electrical enclosure cabinets as per end-use applications. This is estimated to facilitate the growth in the segment.

On the basis on configuration type, the freestanding segment is projected to account for a significant share in the global electrical enclosure market through 2028. Growing applications of freestanding electrical enclosures across external power production, transmission, and distribution is expected to favor the sales in the segment.

Why is Sales of Electrical Enclosures Rising in Residential and Commercial Segment?

“Surging Government Investment to Elevate the Sales of Switch Enclosures”

FMI reveals that the residential and commercial segment is projected to exhibit growth at a robust CAGR during the forecast period 2022-2028.

Increasing government investment for strengthening electrical infrastructure and expanding residential and commercial sector prompt by the trend of urbanization across China, India, and the U.S. among others is expected to accelerate the sales of switch enclosure across the segment. 

Competitive Landscape

Key players operating in the electrical enclosure market are aiming at developing and launching novel products to strengthen their product portfolio and gain competitive edge. Other manufacturers are focusing on adopting inorganic strategies such as mergers and acquisitions to increase the market share. For instance,