The global industrial enclosures market research report by Technavio predicts the market to post a CAGR of around 5% during the period 2019-2023.
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Technavio has released a new market research report on the global industrial enclosures market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global industrial enclosures market is the increasing use of electrical and electronic equipment in the manufacturing processes. Over the last decade, the importance of energy-efficient devices has been recognized. Electricity has become a major concern for several industries, particularly in developing countries, due to severe power shortage. Thus, end-users opt for diverse types of safety devices to protect industrial equipment such as motors, compressors, pumps, and fans.
This global industrial enclosures market researchreportalso provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising need for customized enclosures as one of the key trends in the global industrial enclosures market:
Global industrial enclosures market: Rising need for customized enclosures
The customized industrial enclosures are those, which are made in accordance with the preference of end-users. The end-users set a preference for the kind of enclosure material, range, and accessories they need. The manufacturer manufactures industrial enclosures to comply with the needs of the operations of that facility in accordance with the demands of the end-users.
"The customized industrial enclosures are usually requested by end-users when they are not satisfied by the different versions of standard enclosures available. Some vendors even provide 3D modeling and use AutoCAD to improve the visuals appearance for the vendors before buying an industrial enclosure," says a seniorresearch analyst at Technavio.
Global industrial enclosures market: Segmentation analysis
This industrial enclosures market analysis report segments the market by type (metallic and non-metallic), end-user (process and discrete), and geography (the Americas, APAC, and EMEA).
The metallic segment held the largest industrial enclosures market share in 2018, accounting for over 59% of the market. This segment is expected to dominate the global market throughout the forecast period.
The EMEA region led the market in 2018 with more than 34% of the market share, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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