Asia-Pacific electric enclosure market is estimated to grow at a CAGR of 5.3% during the forecast period. Rising industrialization is one of the vital factors accelerating market growth. As per the Center for International Knowledge on Development, China, in 2018, China’s industrial added value reached nearly $4,395.5 billion, 56.7 times compared to 1978, with an average annual growth rate of 10.6%. China is also actively working towards modernization of industrial infrastructure, which is also offering an opportunity for electric enclosures. For instance, in May 2015, the Chinese government revealed the Made in China (MIC) 2025 initiative which is intended to increase productivity and carry out advances in industrial processes. Under the initiative, the Chinese government is performing the task of advancing infrastructure and accelerate technological developments. This leads to an increasing demand for electric enclosures in industrial facilities to prevent physical damage to components and protect workers from accidentally contacting some parts. In industrial applications, enclosures are optimized for use for particularly fulfilling the requirements of the IoT and Industry 4.0.
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The market is segmented based on material and vertical. Based on material, the market is classified into metallic and non-metallic. For solar power plants, outdoor electronic enclosures are primarily used, more particularly, non-metallic enclosures. Non-metallic enclosures are designed from materials including polycarbonate, durable plastic that offers a comprehensive range of benefits that make them ideal for solar power applications. Solar energy capacity in Asia increased from 206.3 GW in 2017 to 274.9 GW in 2018. Based on vertical, the market is classified into energy and utilities, industrial, it and telecommunication, process industries, and others.
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Some key players in the market include ABB Ltd., Schneider Electric SE, nVent Electric plc, Legrand SA, and QNAP Systems, Inc. The strategies adopted by the market players to increase market share include mergers and acquisitions and partnerships and collaborations. For instance, in April 2020, QNAP Systems launched two USB 3.2 Gen 2 Type-C JBOD enclosure models which are intended to increase the flexibility of users’ file-sharing and storage options. The multipurpose TL USB JBOD can be utilized for increasing a QNAP NAS storage space and act as a storage for PCs and NAS. These are the 8-bay desktop model TL-D800C, and the 12-bay rackmount with redundant power model TL-R1200C-RP for NAS, PCs, and servers.
Asia-Pacific Electric Enclosure Market-Segmentation
By Material
- Metallic
- Non-Metallic
By Vertical
- Energy and Utilities
- Industrial (Automotive and Manufacturing)
- IT and Telecommunication
- Process Industries
- Others
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