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General Electrical Equipment And Components Market Size, Share Analysis, Growth, Research And Forecast 2023-2032 | Major Players: Panasonic Corporation, Samsung Electronics Co. Ltd., Asea Brown Boveri (ABB) Ltd., Sumitomo Electric Industries Ltd., Toshiba
General Electrical Equipment And Components Market Report
The Business Research Company's General Electrical Equipment And Components Global Market Report 2023 identifies Electrical equipment is being equipped with IoT (Internet Of Things) as the major driver for the general electrical and electrical equipment and components market's growth in the forecast period. IoT is the network of physical devices, vehicles, and other items embedded with electronics, software, sensors, actuators, and connectivity that enables them to connect, collect and exchange data. IoT is useful for reliable transmission, intelligent processing, and electrical safety during overcurrent or overvoltage and can be operated remotely.
The general electrical equipment and components market size has grown strongly in recent years. It will grow from $87.17 billion in 2023 to $93.48 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrialization, technological advancements, urbanization, energy demand.
The general electrical equipment and components market size is expected to see strong growth in the next few years. It will grow to $121.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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Major competitors in the general electrical and electrical equipment and components market are Panasonic Corporation, Samsung Electronics Co. Ltd., Asea Brown Boveri (ABB) Ltd., Sumitomo Electric Industries Ltd., Toshiba Corporation.
A key trend in the general electrical and electrical equipment and components market includes Shift toward eco-friendly and energy-efficient electrical equipment. The need for eco-friendly and energy-efficient electrical equipment arises from environmental concerns and the drive to reduce energy consumption. Such equipment minimizes carbon emissions, conserves resources, and lowers electricity bills. As sustainability becomes a global priority, the adoption of green electrical solutions is vital for a greener and more efficient future.
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The general electrical and electrical equipment and components market is segmented -
•By Mode: Online, Offline
•By Sales Channel: OEM, Aftermarket
•By End User: Commercial, Residential
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the general electrical and electrical equipment and components market.
The Business Research Company's "Global General Electrical Equipment And Components Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The General Electrical Equipment And Components Market Include:
1. Executive Summary
2. General Electrical Equipment And Components Market Characteristics
3. General Electrical Equipment And Components Market Trends And Strategies
4. General Electrical Equipment And Components Market - Macro Economic Scenario
5. Global General Electrical Equipment And Components Market Size and Growth
……
31. Global General Electrical Equipment And Components Market Competitive Benchmarking
32. Global General Electrical Equipment And Components Market Competitive Dashboard
33. Key Mergers And Acquisitions In The General Electrical Equipment And Components Market
34. General Electrical Equipment And Components Market Future Outlook and Potential Analysis
35. Appendix
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