Global Electrical Equipment Market Size and Forecast 2024-2033|Panasonic Corporation, Samsung Electronics Co Ltd., Whirlpool Corporation, Schneider Electric, Siemens AG

The Electrical Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Electrical Equipment, The electrical equipment market size has grown strongly in recent years. It will grow from $1619.07 billion in 2023 to $1728.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to economic growth in emerging markets, favorable government initiatives, and technological advances.

The electrical equipment market size is expected to see strong growth in the next few years. It will grow to $2193.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to innovations in electrical equipment, rising investments in energy efficient infrastructure, and favorable government initiatives. Major trends in the forecast period include premiumization of electrical equipment, developing smart appliances, developing smart appliances, developing energy-efficient products, developing and deploying e-commerce platform, strategic alliances and collaborations in order to expand its development activities.

The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is a key to 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 the 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 the electronic equipment manufacturing market during the forecast period.

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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 Covered: General Lighting, Automotive Lighting, Back Lighting, Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance, Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls, Secondary Batteries, Primary Batteries, Other Cables, Coaxial Cables, Fiber Optical Cable

The increasing use of portable electronic devices such as smartphones and tablets has led to the development of USB receptacles. USB receptacles offer convenient access to charge any kind of electronic device. The use of USB receptacles also eliminates the need to carry charging adapters. For example, EATON manufactures USB receptacles that have tamper-resistant shutters and LED indicator lights and can be used to charge electronic devices such as tablets, mobile phones, cameras, and MP3 players. For instance, some of the major companies manufacturing USB receptacles include Eaton, GE, and Philips.

The electrical equipment market report table of contents includes:

1. Executive Summary

2. Electrical Equipment Market Characteristics

3. Electrical Equipment Product/Service Analysis -Product/Service Examples

4. Electrical Equipment Market Trends And Strategies

5. Electrical Equipment Market – Macro Economic Scenario

26. Germany Electrical Equipment Market

27. France Electrical Equipment Market

28. Italy Electrical Equipment Market

29. Spain Electrical Equipment Market

30. Austria Electrical Equipment Market

Top Major Players: