Growing Renewable Energy Sector to Reflect Positively on UK Electric Enclosure Market

UK electric enclosure market is estimated to grow at a CAGR of 4.7% during the forecast period. The growing renewable energy sector is one of the major factors contributing to market growth. As per the UK Government, renewables’ share of electricity generation (hydro, solar, wind, and other renewables) rose to a record 47.0% in the first quarter of 2020, rather than 35.9% in the first quarter of 2019, primarily due to higher wind speeds and increased capacity in February 2020. Solar and wind combined represent a record high of 32.2% of electricity generation in the first quarter of 2020. 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. With the rising importance of alternative energy, it is required that design engineers offer safe and reliable protection for the advanced electrical components that are utilized to operate solar panels and wind turbines. 

Browse the full report description UK 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/uk-electric-enclosure-market

Scope of the UK Electric Enclosure Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Material and Vertical
• Competitive Landscape- ABB Ltd., Pentair plc, Rittal GmbH & Co. KG, and nVent Electric plc

Recent Strategic Initiatives in the UK Electric Enclosure Market

• In September 2019, nVent Electric plc declared the acquisition of Eldon Holding AB, a European-based enclosures business. nVent offers advanced solutions for protection, connection, and management of heat in and communication equipment, critical electronics, and control and power through its nVent SCHROFF and nVent HOFFMAN brands. The acquisition of Eldon complements the nVent enclosures business. nVent has been concentrated on reinforcing its digital capabilities to serve customers with a velocity which aligns very well with this strategy.
• In May 2019, Rittal launched the AX and KX enclosures that are fixed with digital processes. This new range delivers easier, increased safety, greater flexibility, and component installation, and faster assembly. These are redesigned with the principles of Industry 4.0.

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 forecast

o Most affected segment

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

UK Electric Enclosure Market-Segmentation

By Material

• Metallic
• Non-Metallic

By Vertical

• Energy and Utilities 
• Industrial (Automotive and Manufacturing)
• IT and Telecommunication
• Process Industries
• Others