Growing Industrialization is Driving Asia-Pacific Electric Enclosure Market

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. 

Browse the full report description Asia-Pacific Electric Enclosure Market Size, Share & Trends Analysis Report, By Material (Metallic and Non-Metallic), By Vertical (Energy and Utilities, Industrial, IT and Telecommunication, Process Industries, and Other) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/asia-pacific-electric-enclosure-market

Scope of the Asia-Pacific Electric Enclosure Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Material and Vertical
• Countries Covered- China, India, Japan, and Rest of Asia-Pacific
• Competitive Landscape- ABB Ltd., Schneider Electric SE, nVent Electric plc, Legrand SA, and QNAP Systems, Inc

Recent Strategic Initiatives in the Asia-Pacific Electric Enclosure Market

• 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. 
• In October 2018, KDM Steel declared its new stainless-steel enclosures. Such enclosures are corrosion-resistant, robust, and durable electrical enclosures suitable for all environmental conditions. KDM Steel significantly invests in advanced electrical cabinet designs. Owing to the multiple designs, high creep strength, and shapes, KDM Steel stainless steel enclosure is renowned in several electrical installations.

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

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

Asia-Pacific Electric Enclosure Market– Segment by Country

• China
• Japan
• India
• Rest of Asia-Pacific