Key vendors to witness increased demand for customized products
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global electrical enclosures market for the power industry in their latest research report. This report also lists 42 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales electrical enclosures for the power industry.
This Technavio report, under the tools and components vertical, is based on the synthesis, analysis, and interpretation of information about the global electrical enclosures market for the power industry collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for electrical enclosures for the power industry is highly fragmented in nature. The top players in the market account for a small share and hence, do not control the market dynamics. The growth of the market is restrained by several factors such as price competitiveness that arises from the highly competitive nature of the industry. The market consists of many large as well as small players that manufacture products that are priced lower, which forces competitors to reduce prices. Increasing demand for customized products and shift toward the organized sector are likely to create opportunities for growth in the market. The market is currently witnessing an increase in the demand for electrical enclosures among designers, architects, and customers for customized electrical enclosures like metallic and non-metallic, and various sizes. APAC shows huge growth opportunities owing to the increasing industrial development and growing economies like India and China.
“In developed countries, utilities are concerned about reducing carbon emissions and are focusing on improving grid reliability and efficiency. Countries such as the US are pioneers in smart grid technology and have already installed advanced control devices (such as synchrophasors) to monitor and control the grid. However, aging grid infrastructure makes grids inefficient, prone to power outages and congestion. This is resulting in a substantial increase in investments made on the refurbishment of the T&D infrastructure,” says Anju Ajaykumar, a lead analyst at Technavio for tools and components.
Top five vendors in the eletcrical enclocures market space for the power industry
ABB Group
ABB group provides power and automation technologies for utility, transport, and infrastructure industries worldwide. The company’s product portfolio includes multiple low and medium voltage from residential home automation to industrial buildings, including switchgear, distribution automation products, wiring accessories and enclosures designed to ensure safety and reliability. As of December 2014, the company has a total reported revenue of almost $40 billion.
Key products: SR2 enclosures and IS2 enclosures.
Schneider Electric
Schneider Electric offers a wide range of equipment and component used for electricity distribution, energy management, and automation management. The company operates through four key business segments which include buildings and partner, industry, infrastructure, and IT. Through the business and partner business segment, the company offers low voltage power and automation products and solutions for buildings. Through the IT business segment, Schneider Electric offers solutions in critical power and cooling services to target end-market segments like IT, bank and insurance, and cloud and telecom.
Key products: Spacial SM, Spacial S3X, Spacial CRN, Spacial SF, Thalassa PLM, Thalassa TBP, and Thalassa TBS.
Emerson Electric
Emerson Electric is a provider of technology and engineering solutions to industrial, commercial, and consumer markets. The company has operational presence in around 100 countries across the globe.
Key products: InstaRack LAN – Ready to Assemble Network Rack, Knürr Miracel 2 19“ Network Rack, Knürr Miracel 19″ Network Rack NS 26 – Mounting Hole Extrusions, Knurr Miracel 19″ Network Rack IP 55, Knürr Miracel 2 19“ Server Rack, InstaRack Server – Ready-to-Assemble-Server-Rack, and Knurr 19″ Wall Mounted Enclosure.
Eaton
Eaton is a global power management company that provides solutions related to electrical, hydraulic, and mechanical power. The company offers energy-efficient solutions to manage hydraulic, electrical, and mechanical power systems efficiently and sustainably. The wiring devices business of Eaton is under the Cooper Industries brand name. Eaton has operational presence in 175 countries.
Key products: EMH Series Explosionproof Instrument Enclosures, GUB Series Explosionproof Instrument Enclosures, NXT Series Stainless Steel or Sheet Steel Enclosures, and QBX Series Stainless Steel or Sheet Steel Enclosures.
Pentair
Pentair is an industrial equipment manufacturing company that offers a wide range of water, fluid, and thermal management products and solutions. The company mainly provides high-performance flow management solutions. Pentair offers a wide range of services, including asset management, data management, engineering, consultative services and continued support, monitoring, parts supply, shop and field service, project management, and training. The company offers its solutions under various brands such as Anderson Greenwood, and Tyco.
Key products: Flat Cover with Latches, Type 4X, Flat Cover with Screws, Type 4X, QLINE D, Type 4X, QLINE I, Type 4X, INLINE, Type 4X , and Free-Stand Single and Dual Access with 3-Point Latches, Type 4X.
Other prominent vendors in this market include Bremed, EmsiG, iHealth, Jawon, KERN, Marsden, Mediagate, Medisana, Microlife, Qardio, and Withings.
A more detailed analysis is available in the Technavio report, Global Electrical Enclosures Market for the Power Industry 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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