What Transformation Has the Electrical Equipment Market Undergone?
The electrical equipment market has seen considerable growth due to a variety of factors.
• The market size of electrical equipment has experienced robust growth in the preceding years. From $1712.93 billion in 2024, it is projected to escalate to $1836.18 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
This remarkable growth in the historic period can be credited to the economic progression in budding markets, advantageous governmental initiatives, and advancements in technology.
What Are The Predictions for The Electrical Equipment Market Size In The Coming Years?
The electrical equipment market is expected to maintain its strong growth trajectory in upcoming years.
• We can anticipate robust expansion in the electrical equipment market size in the upcoming years. The market is projected to reach $2338.87 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%.
The growth during the forecast period can be attributed to advancements in electrical equipment technology, an increase in investments in energy-saving infrastructure, and supportive government policies. Premiumization of electrical equipment, creation of smart appliances, the development of energy-efficient products, e-commerce platform innovation and deployment, along with strategic partnerships and collaborations for development enlargement, are the key trends anticipated during the forecast period.
What Main Forces Are Fueling Expansion In The Electrical Equipment Market?
Innovations in electronic technology are progressing at a swift rate, generating a steady demand for state-of-the-art, quick devices. The key to drawing in both consumer and business users to replace or upgrade their older equipment with advanced models is technological advancement. The evolution of digital technologies like the Internet of Things (IoT) and modern communication technologies such as 5G are predicted to facilitate the creation of innovative electronic items. It is anticipated that this will amplify the need for electronic goods, in turn propelling the expansion of the electronic equipment manufacturing market in the forecast period.
What Are The Core Segments Of The Globa Electrical Equipment Market?
The electrical equipment market covered in this report is segmented –
1) By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: Business To Business (B2B), Business To Customer (B2C)
Subsegments:
1) By Electric Lighting Equipment: LED Lighting, Fluorescent Lighting, Incandescent Lighting, Smart Lighting Solutions, Street Lighting
2) By Household Appliances: Major Appliances, Small Appliances, Heating and Cooling Equipment
3) By Power Generation: Renewable Energy Sources, Conventional Power Generation, Generators
4) By Transmission and Control Equipment: Transformers, Switchgear, Circuit Breakers, Relay Systems, Power Distribution Units (PDUs)
5) By Batteries: Lead-Acid Batteries, Lithium-Ion Batteries, Nickel-Cadmium Batteries, Lithium Polymer Batteries, Flow Batteries
6) By Wires and Cables: Low Voltage Cables, Medium Voltage Cables, High Voltage Cables, Specialty Cables, Conductors
Pre-Book The Electrical Equipment Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Trends Are Reshaping The Electrical Equipment Market?
The surge in the popularity of handheld electronic gadgets like smartphones and tablets has driven the creation of USB receptacles. These receptacles provide easy charging access for all types of electronic tools, thus making charging adapters redundant. Take for example, EATON - a manufacturer of USB receptacles that come with safety features like tamper-resistant shutters and LED indicator lights, suitable for charging a variety of electronic items including tablets, mobiles, cameras, and MP3 players. Noteworthy manufacturers in this sector include not just Eaton, but also giants such as GE and Philips.
Who Are the Key Players in the Electrical Equipment Market?
Major companies operating in the electrical equipment market include:
• Panasonic Corporation
• Samsung Electronics Co Ltd
• Whirlpool Corporation
• Schneider Electric
• Siemens AG
• ABB Ltd.
• Sumitomo Electric Industries Ltd
• Eaton Corporation
• Nexans
• Iberdrola
• Grand Tech Group Ltd
• Haier
• Electrolux
• Hi-mix Eletronicos S.A
• Lidertrans Groupe
• Bosch
• Yago Electronic
• Changqinglin Electronic Company Ltd
• Transmission Equipment Industry LLC
• Makelsan Power Systems
• Solaris Technologies Llc
• Nicolay GmbH & Co.KG
• Arcelik
• Daikin
• Electrodomesticos Taurus SL
• Cata Electrodomesticos SL
• Edesa Industrial
• NKT Cables Group GmbH
• Permanoid
• Polystar
• British Cables Company
• Industrial Group Mida (Microelectronic Sensors)
• Serdia Eletrônica Industrial
• Liebherr
• J.J. Consultancies S.A
• Suyuanyineng Electricity Machinery Equipment (Wuxi) Company Ltd
• SMEG
• Zvetlit
• Leoni AG
• Glen Dimplex Group
• Emersion Electric
• Wuxi Meida Electro Technical Co. Ltd
• Furukawa Electric Industries Ltd
• QASA
• Amphenol Corp
• LG
• General Cable Corporation
• Belden Inc
• Sharp
• Hisense
• Castelo Angel
• Electroquil S.A
• KCM Trading Co
• Comercializadora Mjb Spa
• Comercial Autosystem Limitada
• Miele
• Wesco International
• Trojan Power
• Alderly FZE
• Comeca Middle East Electrical Equipment LLC
• Arabian Falcon
• Prysmian Group
• Elsewedy Electric
• Roto Oil
• Prime Electrical Manufacturing
• Shiandg Der Enterprise Co. Ltd
• Hitachi
• Fareast Mercantile Co Ltd
• First National Battery Pty Ltd
What are the Regional Insights into the Electrical Equipment Market?
Asia-Pacific was the largest region in the electrical equipment market in 2024. Western Europe was the second largest region in the electrical equipment market. Africa was the smallest region in the global electrical equipment market. The regions covered in the electrical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
