The global electrical equipment market size is expected to grow from $1.38 trillion in 2021 to $1.54 trillion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electrical equipment market is expected to reach $2.27 trillion in 2026 at a CAGR of 10.2%.
What is the Global Electrical Equipment Market?
The electrical equipment market consists of sales of products that generate, distribute and use electrical power by entities (organizations, sole traders and partnerships) that produce products that generate, distribute and use electrical power.
Get a Sample of the global electrical equipment market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=1937&type=smp
What drives the Global Electrical Equipment Market?
The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is a key for attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of electronic equipment manufacturing market during the forecast period.
Get the full global electrical equipment industry report here
https://www.thebusinessresearchcompany.com/report/electrical-equipment-global-market-report
Global Electrical Equipment Market Segments
The global electrical equipment market is segmented:
By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission and Control Equipment, Batteries, Wires and Cables
By End-Use: B2B, B2C
By Sales Channel: OEM, Aftermarket
By Mode: Online, Offline
By Geography: The regions covered in the electrical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Electrical Equipment Global Market Report 2022 provides market size and growth forecasts for the global electrical equipment market, global electrical equipment market share, electrical equipment market segments and geographies, electrical equipment market competitive landscape including leading competitors’ revenues, profiles and market shares. The electrical equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Electrical Equipment Industry Players include Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., Siemens AG, LG Electronics, Sumitomo Electric Industries Ltd., Panasonic Corporation, Schneider Electric SE, Qingdao Haier Co. Ltd., Daikin Industries Ltd, and Whirlpool Corp. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
