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 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.
So, why are electrical enclosures becoming so popular in New Zealand? Well, it's a mix of things! We're seeing more and more industries like oil and gas, power generation, and water treatment needing automation and control systems. Plus, with the push for renewable energy like wind and solar power, there's a greater need for enclosures too. The rise of cool technologies like the Internet of Things (IoT) is playing a big role, requiring enclosures with fancy features like connectivity and remote monitoring. And let's not forget that people are more aware of safety standards these days, so they want enclosures that will keep electrical equipment safe 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.
Okay, so when we talk about the New Zealand Electrical Enclosure Equipment Market, it basically breaks down into three typesSmall Enclosures, Compact Enclosures, and Free-Size Enclosures. Right now, Small Enclosures are the big dogs, grabbing the biggest piece of the pie because industries need them. But don't count out Compact Enclosures! They're coming up strong, expected to grow by a solid 6.28% each year. Plus, the market itself is split into five main areas where these enclosures are usedCommercial & Industrial, Energy & Power Industry, Food & Beverage Industry, Transportation, and of course, Others. The Commercial & Industrial sector? Yeah, they're using the most enclosures right now, accounting for a whopping 41.25% of the market! Learn More Here.
The electrical enclosure market in New Zealand? It's really taking off! We're seeing more and more demand for electrical safety solutions as we use and generate more electricity. Plus, all sorts of industries need reliable electrical enclosures. But, it's not all smooth sailing. Things like leaky seals could hold the market back. On the flip side, the rise of "smart" IoT-enabled enclosures, along with new renewable energy plants, are creating some exciting opportunities for growth in the New Zealand Electrical Enclosure Equipment Market.
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-
Okay, so when it comes to electrical enclosures in New Zealand, you've got a few main typessmall, compact, and free-size. Small enclosures are the big dogs right now – they grabbed a whopping 42.71% of the market in 2021, translating to a cool USD 7,766.87 Million! And they're expected to keep growing at around 5.75% each year. These small stainless-steel enclosures are great because they keep your data consistent and safe across tons of different uses. Plus, they're super easy to put together and you've got lots of choices when picking out lock systems. They even have cool features like quick-release fasteners for easy maintenance and are made of self-extinguishing material for safety. The 180° hinges make getting inside a breeze, too. Compact enclosures came in second place in 2021, hitting USD 6,311.23 Million, and are predicted to grow at 6.28% annually. But get thisfree-size enclosures are expected to be the fastest growers, with a projected rate 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-
When we look at where electrical enclosures are used in New Zealand, we can break it down by applicationeverything from commercial and industrial uses to the energy and power industry, the food and beverage sector, transportation, and a few other areas. In 2021, the Commercial & Industrial sector really stood out, grabbing the biggest piece of the pie with a whopping 41.25% market share – that's about USD 7,499.88 Million! And get this, it's expected to keep growing, projected to have the highest CAGR of 7.37% over the next few years. Think about itthese enclosures protect sensitive electronics in all sorts of industrial and commercial settings, often with custom cooling solutions involving things like heat exchangers and fans. They're basically the central hubs for all those extra bits and pieces you need for industrial automation. Meanwhile, the Energy & Power Industry wasn't far behind, coming in second place in 2021 with a value of USD 3,623.52 Million, and it’s projected to grow at a CAGR of 5.45%. These enclosures are super important for protecting the electrical components that keep the power flowing. They have to withstand all sorts of challenges, like bad weather and extreme temperatures, both indoors and out. With global warming and rising water levels, these enclosures are becoming even more critical for protecting against extreme weather and flooding, offering that extra layer of defense when it really counts.
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
Okay, so you want to know who's leading the pack in the Electrical Enclosure Equipment market? Our analysis dives deep into the top 5 players. But it's not just about popularity! We look at the whole picture before ranking companies. Right now, Schneider Electric, Eaton Corporation, and General Electric are the big names. What makes them stand out? We consider things like their brand reputation, their product lineup (think variations, specs, features, and price points), how widespread they are geographically, their recent sales numbers, and how much of the overall revenue they capture.
We also check out their product portfolio, paying close attention to the technologies they're using and any new strategies they're trying to expand their reach. And finally, we examine their distribution network, both online and offline, to really understand how they're positioned in different Electrical Enclosure Equipment markets.
? Company Regional/Industry Footprint
Want to know where a company does business? Check out the regional section - it'll show you their geographical presence, how far their reach extends regionally, and their sales network. For example, Genan, Entech Inc. has a global presence, with operations in the United States, Canada, and Mexico. Then there's the industrial footprint section. It gives you a cross-analysis of different industries and the key players, painting a clear picture of where a company stands in relation to the industries it serves. We also look at the company’s product portfolio, classifying them based on their diversification and the number of products/services they offer. Finally, we determine geographic reach and market penetration by considering how widespread their products and services are in different 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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We'll take a good, hard look at the market using both number-crunching (quantitative) and getting-to-know-you (qualitative) approaches, breaking it down by economic and non-economic stuff. Expect market size figures in USD Billion for every slice and dice of the market. We'll point out which region and segment we think will grow the fastest and be the biggest. Our geographical analysis will dive into product/service consumption in each area, explaining what's driving the market there. We'll also size up the competition, ranking the big players and detailing their new service/product launches, partnerships, expansions, and acquisitions over the last five years in their company profiles. These profiles offer a company overview, insights, product comparisons, and a SWOT analysis. We’ll give you our take on the industry's present and future, highlighting recent happenings, opportunities, growth drivers, and the challenges ahead for both up-and-coming and established regions. We'll even put the market through Porter's five forces to get different viewpoints and give you a good understanding of the Value Chain. Plus, we will cover market dynamics and future growth opportunities. Oh, and you get 6 months of analyst support after the sale!
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