The Asia Pacific Electrical Enclosure Market would witness market growth of 7.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 5634.6 thousand units, showcasing a growth of 14.9% (2020-2023).
These enclosures play a crucial role in safeguarding electrical equipment and components essential for power generation, transmission, and distribution systems. Within this sector, various applications necessitate tailored enclosure solutions to accommodate diverse requirements, ranging from substations and switchgear installations to renewable energy facilities such as solar farms and wind turbines. Therefore, the Singapore market used 104.57 thousand units of electrical enclosures in energy & power segment in 2023.
The China market dominated the Asia Pacific Electrical Enclosure Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,262.1 million by 2031. The Japan market is registering a CAGR of 7% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 8.4% during (2024 - 2031).
Electrical enclosures are integral to transportation systems, including railways, airports, highways, and traffic management systems. They house control systems, signaling equipment, and electrical components, ensuring transportation networks' and infrastructure's safe and efficient operation. Electrical enclosures protect control panels, pumps, sensors, and monitoring devices in water and wastewater treatment plants. They safeguard electrical equipment from moisture, chemicals, and corrosive substances, ensuring effective treatment and management of water resources.
Additionally, the adoption of electrical enclosures is driven by several factors, reflecting industries' diverse needs and requirements across various sectors. For instance, industries are subject to stringent regulations and standards governing the protection of electrical equipment, the safety of personnel, and environmental considerations. Electrical enclosures help industries comply with these regulations by providing secure housing for sensitive electronic components, ensuring safety, and minimizing the risk of electrical hazards.
As the manufacturing sector grows in India, there is a higher demand for electrical enclosures to protect and house various electrical components used in industrial machinery and equipment. According to the India Brand Equity Foundation, India can export goods worth US$ 1 trillion by 2030 and is on the road to becoming a major global manufacturing hub. Therefore, the region's increasing manufacturing and transportation sectors drive the market's growth.
Free Valuable Insights: The Global Electrical Enclosure Market is Predict to reach USD 13.3 Billion by 2031, at a CAGR of 7.3%
Based on Material, the market is segmented into Metallic and Non-metallic. Based on End-user, the market is segmented into Energy & Power, Industrial, Oil & Gas, Telecommunications and Others. Based on Type, the market is segmented into Wall-Mounted, Free-Standing, and Underground. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Material (Volume, Thousand Units, USD Billion, 2020-2031)
By End User (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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