Europe Stainless Steel Electrical Enclosures Market Growth and Forecast by 2027

The stainless steel electrical enclosures market in Europe was valued US$ 291.15 million in 2019 and is projected to reach US$ 550.30 million by 2027; it is expected to grow at a CAGR of 9.5% from 2020 to 2027.

The market growth is prominently being driven by the increasing demand for electrical enclosures in renewable energy sector. 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 substantial 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 enclosure market is propelled by the installation of power station soperating 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 crucia lthat 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 is 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 with stand extreme conditions. They enclosures play a crucial role by ensuring safety and effective connection quality of green energy. Thus, the rising use of stainless steel electrical enclosures in the renewable energy industry is likely to provide growth impetus for the market players in the coming years.

The stainless steel electrical enclosures market in Europe is highly fragmented and competitive. The leading companies in this market continue to broaden the irclientele by expanding their current offerings. Prominent players face increasingly high competition, both, from start-ups to leading establish edcompanies. Several companies in the value chain are acquiring other players in the stainless steel electrical enclosures market to provide efficient services to their customers, and thus, to maintain or uplift their position in the market. For instance, in August 2019, nVent Hoffman introduced express modification in its standard enclosures, which permit the distributors to serve their customers with the right product and required modifications in a shorter amount of time.

The Europe stainless steel electrical enclosures market is expected to grow at a good CAGR during the forecast period. The growing digitization and a large number of players focusing on developing efficient solutions are the major factors supporting the market growth in this region.

Europe Stainless Steel Electrical Enclosures Market–Segmentation

Europe Stainless Steel Electrical Enclosures Market, by Mounting Type

• Wall-mounted
• Free-Standing
• Others

Europe Stainless Steel Electrical Enclosures Market, by Industry

• Food and Beverages
• Medical and Pharmaceutical
• Energy and Power
• Logistics and Transportation
• Oil and Gas
• Others

Europe Stainless Steel Electrical Enclosures Market, by Country

• France
• Germany
• Italy
• Spain
• UK
• Rest of Europe

Europe Stainless Steel Electrical Enclosures Market – Companies Mentioned

• ABB Ltd.
• Cubic-Modul system A/S
• Delvalle Box
• Electric International Ltd.
• ETA S.P.A
• Euro Inox Quality SRL
• Ilinox SRL
• MP Gamma SRL
• NVENT (ELDON)
• Rittal GmbH and Co.KG
• Schneider Electric
• Zanardo S.P.A

Europe Stainless Steel Electrical Enclosures Report Scope