By 2023, the Electric Enclosure Market is expected to grow at a substantial rate, reaching a projected value of USD 7.91 billion. The strong Compound Annual Growth Rate (CAGR) of 6.27% anticipated for the forecast period serves as the foundation for this anticipated growth.

Electric enclosures are essential for protecting electrical systems and components across a range of sectors by shielding them from potential risks and the elements. The need for electric enclosures is increasing as businesses continue to improve technologically and place a premium on dependability and safety. The upward trend in demand for these protective solutions in contemporary industrial and commercial applications is reflected in this market prognosis.

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The market for electric enclosures is expanding as a result of numerous important factors. First, there is a growing need for enclosures in the field of renewable energy, where delicate electrical components need to be protected from harsh environmental elements. Furthermore, customers are being forced to look for enclosures that comply with strict safety and process rules in order to protect the integrity and safety of their electrical systems. Additionally, as these initiatives need strong enclosures to house the necessary electrical equipment, the growing emphasis on linked cities and smart infrastructure in developing regions is also fueling the market. The market's flexibility to adapt to changing industry needs and its crucial role in guaranteeing the dependability and compliance of electrical systems are both highlighted by these dynamics.

Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), ABB (Switzerland), Hammond (Canada), and Hubbell (US) are major industry players in the electric enclosure market. Product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships are some of the key strategies adopted by major players to gain a competitive edge in this market.

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Product, software, and system consulting are Rittal's three main business sectors. Rittal is situated in Germany. The company provides a wide variety of solutions in the product area, including devices for IT infrastructure, power distribution, and enclosures and temperature control. The enclosure products offered by Rittal span a wide range and are designed to meet a variety of industrial applications. They include tiny enclosures, compact enclosures, IT enclosure systems, console systems, and more. The company provides services to a wide range of industries, including power and energy, manufacturing and process, and information technology. With 11 production plants spread across Germany, the US, China, India, Italy, and the UK, Rittal has a strong international presence. Notably, Rittal unveiled cutting-edge climate management technology with water cooling for its enclosures in June 2017, specifically catering to the demanding cleanliness standards of the food and beverage industry.

Buildings & Partners, Industry, Infrastructure, and IT Business are the four separate segments that Schneider, a French company, operates via. As part of their wide selection of electrical distribution equipment and solutions, the company specialises in offering electrical enclosures within the buildings & partners category. Their "Universal Enclosures" product line features a wide range of options, including steel-mounted enclosures, steel-floor standing enclosures, stainless-steel enclosures, insulating enclosures, thermal management systems, and numerous accessories. Energy and electricity, oil and gas, transportation, weather intelligence, information technology, security systems, process and machine management, food and beverage, automotive, and water processing applications are just a few of the diverse industries that Schneider supports. With more than 50 years of experience, Schneider has made a name for itself as a trustworthy producer of thermal management products, electrical control systems, and multipurpose enclosures for the telecom and electrical distribution industries. Additionally, Renewable Choice Energy, a business that specialises in consulting services and solutions meant to encourage the adoption of sustainable energy in enterprises, was acquired by Schneider in January 2017 to broaden its reach.

Other major companies operating in the Electric Enclosure Market are AZZ (US), Fibox (Finland), Eldon (Spain), Socomec (France), Leviton Manufacturing (US), Adalet (US), and Saginaw Controls and Engineering (US).

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