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Electrical Equipment Market In-Depth Qualitative Insights And Future Growth Analysis
Electrical Equipment Market
Electrical Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2193.05 billion In 2028 At A CAGR Of 6.1% :
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.
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Electrical Equipment Market Major Segments
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
Key Driver - Fostering Growth In Electrical Equipment Market Through Technological Innovation And Rising Demand
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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Prominent Trend - Increasing Focus On Simplifying Device Charging With Usb Receptacles
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.
Electrical Equipment Market Players
Major companies operating in the electrical equipment market report are Panasonic Corporation, Samsung Electronics Co Ltd, Whirlpool Corporation, Schneider Electric, Siemens AG, Cisco Corporation, 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, Electricite de France, Enel, Engie, E.ON, Industrial Group Mida (Microelectronic Sensors), Exelon Corp, Serdia Eletrônica Industrial, Liebherr, J.J. Consultancies S.A, Suyuanyineng Electricity Machinery Equipment (Wuxi) Company Ltd, Marcelo Enrique Araya Gaete, 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, Diebold 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
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the electrical equipment market in 2023. 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
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electrical Equipment Market Report Structure
3. Electrical Equipment Market Trends And Strategies
4. Electrical Equipment Market - Macro Economic Scenario
5. Electrical Equipment Market Size And Growth
…..
27. Electrical Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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