“According to a market report by Lucintel, the future of the global junction box market looks promising with opportunities in the residential, commercial, and industrial markets. The global junction box market is expected to reach an estimated $6.9 billion by 2030 with a CAGR of 7.0% from 2024 to 2030. The major drivers for this market are growing demand for junction boxes in the renewable energy sector, rising popularity of smart homes and buildings, and increasing penetration of the internet of things (IoT) and connected devices.
A more than 150?—?page report is developed to understand Trends, opportunity and forecast in junction box to 2030 by type (plastic junction boxes and metal junction boxes), material (PVC, aluminum, stainless steel, polycarbonate, fiberglass, and others), end use industry (residential, commercial, and industrial) , and region (North America, Europe, Asia Pacific, and the Rest of the World)In this market, plastic junction box and metal junction box are the major segments of junction box market by type. Lucintel forecasts that plastic junction box will remain the faster growing segment over the forecast period because it helps to carry heavy electrical loads at higher temperatures and the size of the boxes varies according to the application but they are generally smaller than a credit card and larger than a postage stamp.
Within this market, commercial will remain the largest segment over the forecast period due to growing demand from telecom companies and it firms for data transmission services.
APAC will remain the fastest growing region over the forecast period due to growing demand for electricity in developing countries such as india and china and increasing number of commercial buildings in this region.
Renhesolar, Eaton, ABB, Rittal, Schneider Electric, Fibox, Cortem Group, Bud Industries, TE Connectivity, and Altech Corporation are the major suppliers in the junction box market.
“This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at email@example.com
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