Press release
Global Electrical And Electronics Market 2024 Competitive Landscape, Industry Analysis, Segmentation And Forecast To 2033 | Major Players Are General Electric Company, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Koninklijke Philip
Electrical And Electronics Market
The Business Research Company presents an extensive market research report on the Electrical And Electronics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The electrical and electronics market size has grown strongly in recent years. It will grow from $3764.98 billion in 2023 to $4031.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to incresed consumer electronics demand, globalization of supply chains, trade policies and tariffs, miniaturization of devices, energy efficiency concerns.
The electrical and electronics market size is expected to see strong growth in the next few years. It will grow to $5194.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to renewable energy integration, environmental sustainability, cybersecurity concerns, e-waste management, flexible electronics, quantum computing. Major trends in the forecast period include internet of things (iot) integration, edge computing, robotics and automation, artificial intelligence (ai), smart manufacturing.
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Key Market Players:
Major companies operating in the electrical and electronics market report are General Electric Company, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Koninklijke Philips N.V., Black & Decker Corporation, Electrolux AB, Tefal S.A.S., Maytag Corporation, SharkNinja Operating LLC, De'Longhi SpA, Conair Corporation, Morphy Richards Ltd., Breville Group Limited, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Hamilton Beach Brands Inc., BCL Electronics Pvt. Ltd., Flyco Electrical Appliance Co. Ltd., Eveready Industries India Ltd., Vornado Air LLC, Braun GmbH, The Joy Mangano Company, Sunbeam Products Inc., Russell Hobbs Inc., Singer Corporation, Kenmore Group Ltd., Oster Manufacturing Company, Applica Consumer Products Inc., Robert Weintraub GmbH & Co. KG, Jarden Corporation
Market Drivers:
The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electrical and electronics products. 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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/electrical-and-electronics-global-market-report
The electrical and electronics market covered in this report is segmented -
1) By Type: Electrical Equipment, Measuring and Control Instruments, Electronic Products
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: B2B, B2C
Subsegments Covered: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables, Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments, Audio And Video Equipment, Semiconductor And Other Electronic Component
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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