UK Electric Enclosure Market is Expected to grow at a CAGR of 4.7% During Forecast 2020-2026

 UK electric enclosure market is estimated to grow at a CAGR of 4.7% during the forecast period. The growing renewable energy sector is one of the major factors contributing to market growth. As per the UK Government, renewables’ share of electricity generation (hydro, solar, wind, and other renewables) rose to a record 47.0% in the first quarter of 2020, rather than 35.9% in the first quarter of 2019, primarily due to higher wind speeds and increased capacity in February 2020. Solar and wind combined represent a record high of 32.2% of electricity generation in the first quarter of 2020. With the decline in costs associated with renewable energy, the alternative energy industry is witnessing rapid growth. Business owners and consumers are shifting towards renewable energy sources in the form of wind, solar, hydropower, and other renewable sources. With the rising importance of alternative energy, it is required that design engineers offer safe and reliable protection for the advanced electrical components that are utilized to operate solar panels and wind turbines. 

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Scope of the UK Electric Enclosure Market

Market Coverage

·        Market number available for 2019-2026

·        Base year- 2019

·        Forecast period- 2020-2026

·        Segment Covered- By Material and Vertical

·        Competitive Landscape- ABB Ltd., Pentair plc, Rittal GmbH & Co. KG, and nVent Electric plc

Recent Strategic Initiatives in the UK Electric Enclosure Market

·        In September 2019, nVent Electric plc declared the acquisition of Eldon Holding AB, a European-based enclosures business. nVent offers advanced solutions for protection, connection, and management of heat in and communication equipment, critical electronics, and control and power through its nVent SCHROFF and nVent HOFFMAN brands. The acquisition of Eldon complements the nVent enclosures business. nVent has been concentrated on reinforcing its digital capabilities to serve customers with a velocity which aligns very well with this strategy.

·        In May 2019, Rittal launched the AX and KX enclosures that are fixed with digital processes. This new range delivers easier, increased safety, greater flexibility, and component installation, and faster assembly. These are redesigned with the principles of Industry 4.0.

 

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UK Electric Enclosure Market-Segmentation

By Material

·        Metallic

·        Non-Metallic

By Vertical

·        Energy and Utilities 

·        Industrial (Automotive and Manufacturing)

·        IT and Telecommunication

·        Process Industries

·        Others

Company Profiles

·        A&T Enclosures

·        ABB Ltd.

·        Alpha 3 Manufacturing Ltd.

·        JC Metalworks Ltd.

·        nVent Electric plc

·        Pentair plc

·        Prism Enclosures Ltd.

·        Rainford Solutions Ltd

·        Rittal GmbH & Co. KG

·        Schneider Electric SE

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

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