Press release
Global Electrical And Electronics Market: Growth, Key Players, and Future Trends Forecast for 2024-2029
Electrical And Electronics Market Size
What Is The Projected Market Size Of The Global Electrical And Electronics Market And Its Growth Rate?
• The global electrical and electronics market was valued at $3951.27 billion in 2024 and is estimated to reach a value of $4262.41 billion in 2025, growing at a CAGR of 7.9%. This growth can be attributed to increased consumer electronics demand, globalization of supply chains, and energy efficiency concerns.
• Looking ahead, the market is forecasted to reach an impressive $5584.89 billion by 2029, growing at a CAGR of 7.0%. Key growth drivers during this period include renewable energy integration, environmental sustainability, and cybersecurity concerns.
What Is Driving The Growth In The Electrical And Electronics Market?
The electrical and electronics market is witnessing strong growth due to the rapid pace of innovation in electronics technology, creating consistent demand for newer and faster products. Technological development plays a key role in attracting consumers and business users alike to upgrade or replace their older products with more advanced versions. Specifically, digital technologies like the Internet of Things (IoT) and latest communication technologies like 5G are expected to aid in developing innovative electronic products. This technological shift is expected to drive the growth of the electronic equipment manufacturing market in the coming years.
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Who Are the Key Players Driving Electrical And Electronics Market Growth?
• 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
• Sunbeam Products Inc.
• Russell Hobbs Inc.
• Singer Corporation
• Kenmore Group Ltd.
• Oster Manufacturing Company
• Applica Consumer Products Inc.
• Jarden Corporation
What Are The Key Trends In The Electrical And Electronics Market?
• Internet of Things (IoT) integration
• Edge computing
• Robotics and automation
• Artificial intelligence (AI)
• Smart manufacturing
What Are The Segments Of The Global Electrical And Electronics Market?
• By Type: Electrical Equipment, Measuring And Control Instruments, Electronic Products
• By Mode: Online, Offline
• By Sales Channel: OEM, After market
• By End-Use: B2B, B2C
Which Region Leads The Electrical And Electronics Market?
Asia-Pacific was the largest region in the electrical and electronics market in 2024. The region witnessed significant growth due to the emerging markets, advancing technology, and increased consumer demand for electrical and electronic products. North America was the second largest region in the market, demonstrating substantial growth as well.
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What Is Covered In The Electrical And Electronics Market Global Market Report?
- Market Size Analysis: Analyze the Electrical And Electronics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electrical And Electronics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electrical And Electronics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electrical And Electronics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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