Stainless steel electrical enclosure is a cabinet designed to protect electrical components such as knobs, switches, and displays from external factors. The enclosures also protect people from getting electrocuted. They are available in various sizes and mounting types, such as wall-mounted and free-standing models. The adoption of stainless steel electrical enclosures is governed by several national regulatory standards. The government regulations are pertinent to industries that work in hazardous areas where potential risks comprise combustible dust, flammable gases, and other volatile particles. Rising awareness regarding workers’ safety and health, along with the increasing industrial fatalities, primarily in oil & gas and mining industries, is likely to propel the market growth during 2020–2027. Additionally, advancements in technologies, accompanied by changing consumer needs for equipment, are further expected to accelerate market expansion.
The Europe Stainless Steel Electrical Enclosures market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The stainless steel electrical enclosures market in Europe is expected to grow from US$ 291.15 Mn in 2019 to US$ 550.30 Mn by 2027; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. Growing demand for energy-efficient devices, rising need to upgrade existing power infrastructure, and ever-increasing focus toward the use of renewable power sources are among the prime factors accelerating the growth of the energy & power industry in Europe. Driven by scrutiny from regulators, the industry has a wide scope to step into the clean energy transition. In Europe, the stainless steel electrical enclosures market is propelled by the installation of power stations operating on renewable sources of energy, such as wind and solar energy. The initial stages in renewable energy projects might prove expensive and need several years before yielding a huge return on investment.
Hence, it is crucial that systems run faultlessly from the time of installation. Selecting the suitable stainless steel electrical enclosure improves the performance and durability of the equipment enclosed. As solar power is an exceptional source of energy, the equipment are often situated outdoors, exposing electrical enclosures; thus, the manufacturers prefer a reliable electrical enclosure that can perform under harsh environmental conditions such as UV radiation, rain, snow, dust, and dirt. Therefore, the aforementioned factors increase the demand for stainless steel electrical enclosures as they are highly reliable and withstand extreme conditions. These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for Europe Stainless Steel Electrical Enclosures in the market.
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Europe Stainless Steel Electrical Enclosures Market – MARKET SEGMENTATION
- Food & Beverages
- Medical and Pharmaceutical
- Energy & Power
- Logistics and Transportation
- Oil & Gas
- Rest of Europe
- ABB Ltd.
- CUBIC-MODULSYSTEM A/S
- DELVALLE BOX
- Electrix International Ltd.
- ETA S.P.A.
- EURO INOX QUALITY SRL
- Ilinox SRL
- MP GAMMA SRL
- nVent Hoffman
- RITTAL GMBH & CO. KG
- Schneider Electric SE
- ZANARDO S.P.A
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