Global Industrial Enclosures Market 2018-2022 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Sep 24, 2018-- global industrial enclosures market research report forecasts the market to register a CAGR of almost 6% during the forecast period.
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Technavio has published a new market research report on the global industrial enclosures market for the period 2018-2022. (Graphic: Business Wire)
The rising demand for modular enclosures will be one of the major trends during 2018-2022. There has been an increase in the demand for modular enclosures due to the significant rise in technological advances in the field of industrial enclosure manufacturing coupled with a steady demand for compact enclosure systems. Modular enclosures provide more flexible, cost-effective, and easy-to-manufacture alternatives to unibody industrial enclosures.
According to Technavio analysts, one of the key global industrial enclosures market drivers is the increasing demand for electric enclosures:
Global industrial enclosures market: Increasing demand for electric enclosures
There is an increase in the modernization of industries owing to the advent of Industry 4.0 and the growing adoption of industrial automation. The companies have been choosing effective cable management systems to modernize industries, which is driving the adoption of electric enclosures. The electric enclosures are used in several industries including oil and gas, manufacturing, power, and transmission and distribution.
According to a senior research analyst at Technavio, “The global industrial enclosures market growth is being propelled by the rising demand for the efficient management of devices and wiring. The companies are opting for customized electric enclosures as they provide a systematic organization of machines and wiring. This assists in the sophisticated and clean management of the overall plant.”
Global industrial enclosures market: Segmentation analysis
The global industrial enclosures market analysis report provides market segmentation by product (metallic industrial enclosures and non-metallic industrial enclosures), by end-user (process industries and discrete industries), and by region (the Americas, APAC, and EMEA). This industrial enclosures market forecast provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the metallic industrial enclosures segment held the largest industrial enclosures market share in 2017, contributing to nearly 55% of the market. This product segment will dominate the global market throughout the forecast period.
EMEA held the largest share of the market in 2017, accounting for around 34% share. It was followed by the Americas and APAC respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 09/24/2018 08:40 AM/DISC: 09/24/2018 08:40 AM