New Zealand Electrical Enclosure Equipment Market Size By Type(small enclosures, compact enclosures, and free-size enclosures), By Application(commercial & industrial, energy & power industry, food & beverage industry, transportation) And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNew Zealand Electrical Enclosure Equipment Market Size By Type(small enclosures, compact enclosures, and free-size enclosures), By Application(commercial & industrial, energy & power industry, food & beverage industry, transportation) And Forecast
New Zealand Electrical Enclosure Equipment Market Size And Forecast
New Zealand Electrical Enclosure Equipment Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e., 2023 to 2030.
The New Zealand Electrical Enclosure Equipment Market is witnessing significant growth owing to various driving factors such as a rise in need for the electrical safety solution as electricity generation and consumption is increasing and strong electrical enclosure demand from various end-use applications, among others. The New Zealand Electrical Enclosure Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
New Zealand Electrical Enclosure Equipment Executive Summary
Electrical enclosures are protective boxes or cabinets that are used to house and protect electrical equipment, such as control panels, circuit breakers, and switches. These enclosures are designed to provide a secure and protective environment for the electrical equipment and prevent damage from various environmental hazards, such as dust, moisture, and debris. Electrical enclosures can be made from various materials, including steel, aluminum, and plastic, and come in different sizes and shapes to accommodate different types of equipment.
The demand for electrical enclosures in New Zealand is driven by several factors, including the increasing need for automation and control systems in various industries, such as oil and gas, power generation, and water treatment. The growing use of renewable energy sources, such as wind and solar power, also contributes to the demand for electrical enclosures in the country. Additionally, the growing use of renewable energy sources, such as wind and solar power, is also contributing to the demand for electrical enclosures in the country. The adoption of advanced technologies, such as the Internet of Things (IoT), is driving the demand for electrical enclosures with specialized features, such as increased connectivity and remote monitoring capabilities. Increasing awareness of safety standardsThe increasing awareness of safety standards in various industries is also driving the demand for electrical enclosures, as these enclosures help to ensure the safety of electrical equipment and prevent accidents.
The New Zealand electrical enclosures equipment market is highly competitive, with several domestic and international players operating in the market. The adoption of industrial and factory automation is allowing the entry of more mechanical, electromechanical and semiconductor devices, components and controls that need to be enclosed for safety and aesthetic reasons, thus driving the market growth. As a result, many countries have implemented strict safety regulations New Zealand and this parameter is significantly driving the growth of the electrical enclosures equipment market.
During COVID-19, many manufacturers experienced disruptions in their supply chains due to restrictions on international trade and logistics, leading to delays in the delivery of raw materials and components. This resulted in production slowdowns and shortages of certain products. On the other hand, the pandemic also created new opportunities for some manufacturers as demand increased for certain types of electrical enclosures in New Zealand.
New Zealand Electrical Enclosure Equipment Market Outlook
The electric enclosure is a cabinet used to install switches, knobs, and displays on electric equipment to prevent electrical shock and protect the content from the environment. The enclosure is used to safeguard electrical equipment such as generators, power distribution systems, and transmitters. The cage guards against weather threats such as dirt, rain, sleet, and snow. They are also appropriate for food processing facilities, dairies, refineries, and other businesses where corrosion is a concern. The enclosure is utilized in a variety of industries, including energy and power, industrial, process, transportation, infrastructure, and telecommunications.
The New Zealand Electrical Enclosure Equipment Market is segmented into three major classes, Small Enclosures, Compact Enclosures, and Free-Size Enclosures, based on Type. The Small Enclosures segment is holding the largest share of the market due to higher demand from end-use industry verticals. However, the Compact Enclosures segment is holding the second-highest share and growing with a significant CAGR of 6.28% during the forecasted period. Moreover, the New Zealand Electrical Enclosure Equipment Market is segmented into five major application segments, Commercial & Industrial, Energy & Power Industry, Food & Beverage Industry, Transportation, and Others. The Commercial & Industrial segment is holding the highest market share at 41.25%.
The New Zealand Electrical Enclosure Equipment Market is witnessing significant growth owing to various driving factors such as a rise in need for the electrical safety solution as electricity generation and consumption is increasing and strong electrical enclosure demand from various end-use applications, among others. However, seal leakage problems in electric enclosures and the rest of other factors might strangle the growth of the New Zealand Electrical Enclosure Equipment Market over the forecasted period. Moreover, the increasing use of IoT-enabled enclosures, the increase in renewable electricity and plant establishments, and other factors are creating new opportunities for the New Zealand Electrical Enclosure Equipment Market to grow soon.
The market size of the New Zealand Electrical Enclosure Equipment Market stood at USD 18,183.62 Thousand in 2021 and is projected to reach USD 30,907.91 Thousand by 2030. The Market is projected to grow at a CAGR of 6.41%. The small Enclosures segment holds the largest market share by type in 2021, accounting for 42.71% of the total market size. And, Commercial & Industrial segment holds the largest share by application with 41.25% share.
New Zealand Electrical Enclosure Equipment MarketSegmentation Analysis
The New Zealand Electrical Enclosure Equipment Market is segmented based on Type, and Application.
New Zealand Electrical Enclosure Equipment Market by Type
- Small Enclosures
- Compact Enclosures
- Free-Size Enclosures
To Get Summarized Market Report By Type-
On the basis of type, the New Zealand Electrical Enclosure Equipment Market has been segmented into small enclosures, compact enclosures, and free-size enclosures. Small Enclosures accounted for the largest market share of 42.71% in 2021, with a market value of USD 7,766.87 Million, and is projected to grow at a CAGR of 5.75% during the forecast period. The small stainless-steel enclosures offer maximum data quality and consistency in engineering as well as flexibility and safety for a wide range of applications. The small enclosure offers remarkable ease of assembly and flexibility when selecting lock systems. Small enclosures cover features such as quick-release fasteners for speedy maintenance and self-extinguishing material for safety. The small enclosure allows for flexible interior installation and provides easy access thanks to the series-standard 180° hinges. Compact Enclosures were the second-largest market in 2021, valued at USD 6,311.23 Million in 2021; it is projected to grow at a CAGR of 6.28%. However, Free-Size Enclosures are projected to grow at the highest CAGR of 7.73%. .
New Zealand Electrical Enclosure Equipment Market by Application
- commercial & industrial
- energy & power industry
- food & beverage industry
- transportation
- others
To Get Summarized Market Report By Application-
On the basis of Application, the New Zealand Electrical Enclosure Equipment Market is classified into commercial & industrial, energy & power industry, food & beverage industry, transportation, and others. Commercial & Industrial accounted for the largest market share of 41.25% in 2021, with a market value of USD 7,499.88 Million, and is projected to grow at the highest CAGR of 7.37% during the forecast period. A large selection of standard and custom cooling solutions is made to meet the needs of various industrial and commercial environments while protecting delicate electronics. As more heat-generating electronics are used in control applications, cooling systems such as heat exchangers and fans have become standard. They also serve as the central housing for the auxiliary components required for many industrial automation applications.Energy & Power Industry was the second-largest market in 2021, valued at USD 3,623.52 Million in 2021; it is projected to grow at a CAGR of 5.45%. The enclosures safeguard crucial electrical parts that sustainably support power generation. These enclosures are used inside and outside, constantly exposed to bad weather, sweltering temperatures, and harsh environments. Enclosures can offer protection in areas experiencing higher extreme weather conditions and flooding due to increased effects from global warming, storm surge, and rising water levels.
Key Players
The major players in the market are; Schneider Electric, Eaton Corporation, General Electric, ABB, Allied Moulded Products, Inc., IP Enclosures, B&R Enclosures Pty Ltd., Fibox Group, Rittal Limited, and others.
This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
 Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 5 players operating Electrical Enclosure Equipment market. takes into consideration several factors before providing a company ranking. The top three players for the Electrical Enclosure Equipment market are Schneider Electric, Eaton Corporation, and General Electric. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Electrical Enclosure Equipment markets.
 Company Regional/Industry Footprint
The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, Genan, Entech Inc has its presence globally i.e., in United States, Canada, and Mexico.Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.
 Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the Electrical Enclosure Equipment market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as the product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Schneider Electric, Eaton Corporation, General Electric, ABB, Allied Moulded Products, Inc., IP Enclosures, B&R Enclosures Pty Ltd., Fibox Group, Rittal Limited, and others. |
| SEGMENTS COVERED | By Type, and By Application. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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