The global electrical enclosure market size was valued at USD 7.07 billion in 2023. The market is projected to grow from USD 7.42 billion in 2024 to USD 13.15 billion by 2032, exhibiting a CAGR of 7.4% during the forecast period.
An electrical enclosure refers to a housing for electrical or electronic equipment. Its purpose is to safeguard the electrical equipment from the external environment and protect the outside people from the equipment. It helps to protect people from the propagation of any explosion or electric shock. The outside environment comprises of various factors, such as moisture, adverse temperatures, weather, fire, and different hazards. Hence, these enclosures are made waterproof, fire-resistant, and have extreme durability.
With the ageing infrastructure, the rising necessity for electrical vehicle charging set-up magnifies the requirement to update the present infrastructure and obligates the addition of smart grids. It generates more demand for electrical components, including such enclosures. Thus, the demand for such enclosures is rising across different industries such as automotive, renewable energy, manufacturing, and many more, along with various customizations. For instance,
In December 2023, Custom Stainless Enclosures, Inc. introduced 4Xxtreme electrical enclosures, which are intended to minimize the overall cost of equipment when deployed in the harshest environments. Several benefits added with these enclosures include a double-seal enclosure mechanism, double stud mounting, unlimited enclosure design competencies, and many more.
The COVID-19 pandemic accelerated the implementation of digital technologies, such as online ordering, supply chain management, and enhancements with emerging technologies in the automotive and manufacturing sectors, which eventually benefited the electrical enclosures industry. Hence, market players introduced various new solutions with features and benefits. In some regions, government stimulus packages aimed at boosting infrastructure and construction projects, which eventually added to the electrical enclosure industry growth across different nations.
ELECTRICAL ENCLOSURE MARKET TRENDS
Integration of Smart Tools within Enclosures in Different Applications to Fuel Market Growth
The incorporation of actuators, sensors, cooling units, and communication modules for actual-time data gathering and remote handling of electrical tools and equipment refers to smart electrical enclosures. Such enclosure helps improve operational efficiency, remote management, safety, and many other features.
The various other features include gas-protected switching systems and current and voltage converters tailored within that comprise components for interconnecting with the control centre, among other features. The fittings for such enclosures contain specifically built cooling units. They are predominately used in the thermal management of the electrical equipment in such enclosures.
With these features, the internal part of the enclosure can be safeguarded against corrosion, even in humid climates and in winter. And temperature can be retained constantly at an ideal range for the electronic modules. Hence, key players are advancing their offerings with such new mechanisms to offer their customers some added benefits. For instance,
In March 2023, RS collaborated with Hammond Manufacturing to offer customized electronic and electrical enclosures to industrial and commercial consumers. The company provides over 4,900 fully tailor-made electrical and electronic enclosures from Hammond Manufacturing, with 2,900 plus supporting products.
Such customized competencies of enclosures for achieving optimal performance, safety, and functionality as per industry requirements drive market growth.
RESTRAINING FACTORS
Environmental and Operational Limitations can Hamper Market Growth
Without appropriate consideration, heat can certainly be generated inside electrical enclosures, initiating damage to the electronic and electrical components inside the enclosures. Such heat can also result in pressure inconsistencies, which can ultimately build up moisture and cause difficulties. It can lead to the potential for destruction of the sensitive electrical equipment within enclosures.
In an electrical enclosure, the air inside any bounded space can heat up remarkably rapidly, which can reduce the operating life of the equipment it comprises. It can also result in the formation of concentration, which would cause rust, short circuits, and other issues.
Also, depending on the environmental conditions, enclosures may require different coatings or material properties to withstand different weather conditions. If not managed carefully, it can result in moisture, corrosion, and degradation of electrical equipment. Managing the coatings as per different weather conditions is difficult and hence can affect the overall performance of such enclosures.
Hence, such environmental limitations can result in the potential for destruction of the sensitive tools and equipment within enclosures and hamper market growth.
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Post time: Apr-30-2024