Metal Enclosures Market Analysis
The metal enclosures market is expected to witness category spend growth of USD 200 million between 2018-2023, with spend momentum accelerating at a CAGR of 5.42% during the forecast period. The spend growth of this market will be primarily attributed to the medical devices industry that accounted for nearly 30% of global metal enclosures sales. Large-Scale manufacturing of medical devices pertaining to neuromonitoring, cardiac monitoring, respiratory monitoring, multi-parameter monitoring, and ophthalmology is driving the demand for metal enclosures. Among the category segments, electrical enclosures will face substantial demand during the forecast period owing to the expansion of power distribution networks in the developing nations. This will play a critical role in driving the spend growth in the metal enclosures market.
The proliferation of the aging demography in the US will create a constant requirement for medical devices, which, in turn, will drive the demand growth of the metal enclosures market in the region. The commercial, manufacturing, hospitality, and energy sectors are constantly being subjected to stringent regulations imposed by the NEC and the OSHA to ensure electrical safety. This is compelling buyers from these sectors to replace the outdated metal enclosures which will have a positive impact on the US market size. However, it is predicted that the steady growth of the metal enclosures market in APAC will eventually outpace the mature markets such as in North America and Europe. The increasing demand for medical devices and the exponential growth of the renewable energy sector are two of the primary growth drivers that will continue to contribute to the spend growth in the metal enclosures market in APAC.
Insights Offered in this Metal Enclosures Market Report
Our reports from the heavy industry category offer buyers with actionable data on the current and future supply market scenario. Coverage of the US metal enclosures market outlook, including metal enclosures market, pricing outlook, supplier cost structure, etc., are also offered in this report. Additional information includes an analysis of the cost and volume drivers, top metal enclosures manufacturers, and category management strategies.
Our portfolio of reports helps buyers understand:
- Global and regional spend potential for the metal enclosures market for the period of 2018-2023
- Top metal enclosures manufacturers and their cost structure
- US metal enclosures market trends
- Metal enclosures market trends, price, and forecasts
- Cost drivers influencing the metal enclosures market size
Metal Enclosures Spend Analysis: Pricing Outlook
This procurement intelligence report contains in-depth pricing insights for the procurement of metal enclosures. These pricing insights provide an overview and comparison of pricing models, supply chain margins, and the volume and cost drivers impacting pricing:
- Buyers for steel enclosures can expect a significant price rise because of an anticipated price hike of steel. This price hike of steel is a result of a supply shortage of this metal. On the other hand, an over-production of aluminum will decrease the price of this metal. This will result in a price-dip of aluminum enclosures during the forecast period.
- However, the supply market is highly concentrated with a significant number of local, regional, and global suppliers. Most of these suppliers are implementing automation at their production facilities to cater to large orders. This will enable suppliers to reduce the category price as automation helps in lowering manufacturing expense.
- The increase in fuel prices will increase the logistics costs incurred by suppliers. While this will make significant additions to their OPEX, it will also have an inflationary impact on the procurement price in the metal enclosures market.
Optimize Category Spend for Metal Enclosures
Buyers from the electronic and medical device manufacturing sector can gain actionable insights from suppliers that will help them determining optimum sizes and safety of their manufactured devices. On that note, such buyers are advised to partner with suppliers that have high cabling efficiency to aid buyers to identify the best-fit design for enclosures. This will enhance the safety of the devices while keeping their sizes at the minimum.
To help category managers optimize spend on metal enclosures, this report also offers:
- Metal enclosures category management strategies and objectives
- Supplier and buyer KPIs
- Outsourcing category management activities
- Risk management
- Cost-saving opportunities
Build Strategies for Effective Supplier Selection
Strategic engagement with suppliers has proven to facilitate significant cost-savings for buyers. For instance, buyers are advised to engage with suppliers that have a portfolio of extensive solutions for all kinds of enclosures such as metal, plastics, multi-industry enclosures. This will allow for standardization of procurement process by avoiding multiple supplier engagement and can allow buyers to explore volume-based discount opportunities during bundling of purchases.
This metal enclosures market procurement intelligence report identifies the major costs incurred by suppliers and provides additional information on:
- Cost-benefit analysis of pricing models
- Supplier relationship management practices
- Technology-facilitated procurement metrics
Devise Effective Category Management Strategies for the Metal Enclosures Market
One of the essential category management objectives for buyers in the metal enclosures market is to ensure that their suppliers maintain absolute compliance with all the regulatory nuances. For buyers from the medical devices sector, it is essential for their suppliers to adhere to the ISO standards. For other industries, UL and NEMA are among the most common certifications.
Key insights offered in this metal enclosures market procurement intelligence report on the metal enclosures market will help the buyers identify:
- Supplier margins and selection criteria
- Buyer ecosystem and factors influencing the procurement process
- Strategic sourcing and category management strategies
Information on the top metal enclosures manufacturers and market buyer and supplier insights are highlighted in this procurement intelligence report.
