Asia-Pacific electric enclosure market is estimated to grow at a CAGR of nearly 5.3% during the forecast period. Rising industrialization and expansion of the renewable energy sector are some pivotal factors accelerating market growth. As per the International Renewable Energy Agency (IRENA), total renewable energy capacity in Asia reached 1,024.4 GW in 2018, increased from 915.1 GW in 2017. With the decline in costs associated with renewable energy, the alternative energy industry is witnessing rapid growth. Business owners and consumers are shifting towards renewable energy sources in the form of wind, solar, hydropower, and other renewable sources. Solar power plants consist of several electrical equipment that must be protected ranging from solar power inverters to switchboards. Therefore, electrical enclosures are required to ensure the suitable operation of equipment. The enclosures must be durable to resist weather hazards, temperature extremes, UV radiation, and potential sea spray from coastal settings.

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.

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. 

Research Methodology

The market study of the Asia-Pacific electric enclosure market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Electric Enclosure Market Research and Analysis by Material
2. Asia-Pacific Electric Enclosure Market Research and Analysis by Vertical

The Report Covers

• Comprehensive research methodology of the Asia-Pacific 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 Asia-Pacific electric enclosure market.
• Insights about market determinants which are stimulating the Asia-Pacific electric enclosure market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.