North American electric enclosure market is estimated to grow at a CAGR of 4.4% during the forecast period. The major factors contributing to the market growth include the rising manufacturing sector and rising energy and power industry. As per the Government of Canada, the energy sector of Canada represents more than 10% of nominal GDP in 2019. In 2018, Canadian government revenues from energy were $17.9 billion. The country is the 6th largest producer of energy, the 8th largest consumer, and the 4th largest net exporter. This leads to increasing demand for electric enclosures that are utilized in the power industry for the protection of critical electronic components and circuitry. Transmitters, power distribution systems and power generators utilize electrical enclosures. The enclosures are used as a cabinet for mounting switches, displays, and knobs and to protect the equipment from several environmental changes as well as to prevent electric shock.
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Some key players in the market include Eaton Corp., Hubbell Inc., Emerson Electric Co., ABB Ltd., and Schneider Electric SE. Partnerships and collaborations and mergers and acquisitions are considered vital strategies implemented by the market players to increase their position in the market. For instance, in May 2019, Toshiba Mitsubishi-Electric Industrial Systems Corp. (TMEIC) declared the launch of the TMdrive-Guardian. It is an outdoor enclosure for its renowned TMdrive-MVe2 medium voltage (MV) variable frequency drive (VFD). This is a self-sufficient enclosure that avoids the requirement of the house the drive in a temperature-controlled industrial control building or E-house.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
North American Electric Enclosure Market-Segmentation
By Material
- Metallic
- Non-Metallic
By Vertical
- Energy and Utilities
- Industrial (Automotive and Manufacturing)
- IT and Telecommunication
- Process Industries
- Others
North American Electric Enclosure Market– Segment by Country
- US
- Canada
The Report Covers
- Comprehensive research methodology of the North American electric enclosure market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North American electric enclosure market.
- Insights about market determinants that are stimulating the North American electric enclosure market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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