Future-Ready: Adapting to the 7.91 Billion USD Electric Enclosure Market Potential

A recent analysis by MarketsandMarketsTM forecasts strong growth for the Electric Enclosure Market. By 2023, the market is expected to grow from USD 6.15 billion in 2018 to USD 7.91 billion, representing a Compound Annual Growth Rate (CAGR) of 6.27%.

This anticipated expansion is due to a number of factors, including improvements in industrial automation, the need for secure and safe electrical infrastructure, and rising demand from various industry sectors, including power generation, oil and gas, metals and mining, medical, pulp and paper, food and beverage, and transportation. In order to satisfy the growing need for electric enclosures that guarantee the effectiveness and safety of electrical components in a variety of applications, the market is changing.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6953934

Electric Enclosure Market

Several important reasons are strongly driving the Electric Enclosure Market's anticipated expansion. First, the growing demand for enclosures from the renewable energy industry is a key factor in the market's growth. Electrical enclosures must be effective and secure in order to protect vital components as the renewable energy industry expands. Second, the demand for enclosures that adhere to industry standards and regulations is driving market expansion due to strict safety and process restrictions. Finally, the need for electric enclosures is driven by the increased focus on linked cities, especially in emerging nations, where they are an essential component of the infrastructure required for modern urban connection and smart city programmes. These elements work together to support the Electric Enclosure Market's positive growth trajectory.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=6953934  

The power generation & distribution industry is expected to lead the electric enclosure market between 2017 and 2023

From 2017 to 2023, the electric enclosure market is anticipated to be led by the power generation & distribution industry. Within the market for electric enclosures, it is projected that this sector will hold the biggest market share over this time. Electric enclosures must be able to survive harsh environmental conditions in order to protect crucial machinery and electronics within the power generation and distribution sector. Electric enclosures are essential in this industry because they improve end-user safety and safeguard electronic and electric equipment in energy-generation plants. Additionally, in power transmission and distribution, these enclosures protect the integrity of the circuitry against damage from the outside world.

The market for underground electric enclosures is expected to grow at the highest CAGR between 2018 and 2023

In the market for electric enclosures, the subterranean electric enclosure market is anticipated to experience the highest compound annual growth rate (CAGR) between 2018 and 2023. This increase is mostly attributable to their low maintenance costs and expanding use in the power transmission sector, particularly for electrical line subterranean cabling. subsurface electric enclosures are becoming more popular, which is supported by the benefits of lower maintenance costs and their compatibility with subsurface infrastructure. This indicates that they have a significant growth potential over the upcoming years.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/electrical-enclosure-market-6953934.html

APAC expected to lead the electric enclosure market between 2018 and 2023

Between 2018 and 2023, Asia-Pacific (APAC) is predicted to secure the greatest market share and take the lead in the electric enclosure market. An important element that contributes to this domination is the growing demand for energy and power coming from both the household and business sectors. Strong energy infrastructure and effective electricity distribution are essential as economies in the APAC area experience increasing urbanisation, industrialization, and expansion. With the rising need for energy in this dynamic and changing market environment, electric enclosures are essential for ensuring the safe and secure operation of electrical systems and components.

Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), ABB (Switzerland), Hammond (Canada), and AZZ (US) are the major industry players in the electric enclosure market.

News Covered:

https://www.prnewswire.com/in/news-releases/electric-enclosure-market-worth-791-billion-usd-by-2023-675658923.html 

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com

Comments

Post a Comment

Popular posts from this blog

Trends Shaping the Environmental Test Chambers Market

The   Environmental Test Chambers Market Size  is expected to rise steadily; estimates show that it will reach USD 938 million by 2024 from USD 842 million in 2019, a compound annual growth rate (CAGR) of 2.18%. The most recent market research report outlines this growth trajectory and highlights the several variables that are driving this expansion. A variety of industrial verticals, including aerospace and defence, automotive, telecommunications, and electronics, are served by the market's segmentation based on type, which includes temperature and humidity chambers, customised chambers, and thermal shock chambers. Over the course of the forecast period, factors like strict regulatory requirements, rising need for dependable testing solutions, and technical developments in environmental testing equipment are anticipated to drive market expansion. Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107895228 The environmental test chambers mar...
Read more

Microwave Revolution: Unraveling the Monolithic Microwave IC Market

Image
The   Monolithic Microwave IC Market  showed strong growth, reaching a worth of USD 9.7 billion in 2022 and expected to reach USD 17.0 billion by 2027. It is anticipated that the market would expand at a notable compound annual growth rate (CAGR) of 11.9% from 2022 to 2027. This growth trend shows how Monolithic Microwave Integrated Circuits (MMICs) are becoming more and more popular in a variety of industries. MMICs are essential parts of applications like consumer electronics, aircraft, defence, and telecommunications because of their small size and excellent performance at microwave frequencies. Technological developments, the growing need for high-frequency communication systems, and the extensive use of MMICs in developing technologies are the main factors propelling the market's growth. The MMIC market is expanding significantly due to a number of important factors. The smartphone industry is a major trigger for the spike in demand for Monolithic Microwave Integrated Cir...
Read more

Empowering Connectivity: RF Gallium Nitride Market on Track for $2.8 Billion by 2028

With a projected value of USD 2.8 billion by 2028, the global   RF Gallium Nitride (GaN) Market   is expected to experience significant expansion from its estimated USD 1.5 billion valuation in 2023. Over the course of the forecast period, this projected growth translates into a strong compound annual growth rate (CAGR) of 12.9%. Technological developments, the growing need for high-frequency and high-power devices, and the broad use of GaN technology in a variety of industries, including the automotive, aerospace and defence, and telecommunications sectors, are all considered contributing factors to the market value increase. The market is anticipated to experience substantial growth in the upcoming years as GaN continues to establish itself as a favoured material for RF applications because of its excellent qualities, such as high electron mobility and thermal stability. Download PDF Brochure:   https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183000597 There are...
Read more