DUBLIN, Nov 1, 2022 (GLOBE NEWSWIRE) — The report “Electrical Enclosures – Global Market Trajectory and Analysis” has been added to the ResearchAndMarkets.com offering. The global electrical cabinet market will reach US$8 billion by 2027. Amid the COVID-19 crisis, the global electrical cabinet market is valued at US$5.6 billion. In 2020, it is expected to reach a revised US$8 billion by 2027, 2020-2027 Compound annual growth rate for this period was 5.2%. Metals, one of the market segments analyzed in the report, is expected to grow by 4.8% on average and reach $5.0 billion by the end of the analysis period. Given the ongoing recovery from the pandemic, growth in the non-metallurgical sector is being adjusted to a revised CAGR of 5.9% over the next seven years. The US market is valued at $1.8 billion, while China is expected to grow at a CAGR of 8.1% The US electrical cabinet market is valued at $1.8 billion in 2020. China, the world’s second largest economy, is projected to reach a projected market size of US$1.5 billion by 2027, with a CAGR of 8.1% over 2020-2027. Other prominent geographic markets such as Japan and Canada are projected to grow by 2.5% and 4% respectively during 2020-2027. In Europe, growth in Germany is expected to be around 3.5%. Select participants (94 participants in total)
Post time: May-08-2023