The Global Electrical Equipment Market Report by The Business Research Company covers electrical equipment market drivers and restraints, electrical equipment market size, major players, and the impact of COVID-19 on the electrical equipment market.
The electrical equipment market consists of sales of products that generate, distribute and use electrical power by entities (organizations, sole traders and partnerships) that produce products that generate, distribute and use electrical power. This electrical equipment industry comprises establishments primarily engaged in wholesale distribution of electrical construction materials, wiring supplies, electric light fixtures, light bulbs, household appliances, and electrical power equipment for generation, transmission, distribution and control of electric energy.
The global electrical equipment market reached a value of nearly $1,180.0 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.1% since 2015. The market is expected to grow at a CAGR of 7.1% from 2020 to reach $1,662.7 billion in 2025. The global electrical equipment market is expected to reach $2,248.2 billion in 2030, at a CAGR of 6.2%.
The rapid pace of innovations in electrical equipment technologies is stimulating consistent demand for newer and faster electrical equipment and applications. Technological developments is key for attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Innovative technologies such as the internet of things (IoT), smart grid and energy-efficient lighting technologies are expected to aid in the development of advanced electronic equipment’s. This is expected to increase the demand for electrical equipment which will ultimately drive the market for during the forecast period.
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Some electrical equipment market trends include deploying artificial intelligence (AI) and machine learning (ML) applications to improve production efficiency, decrease cost and reduce manufacturing errors. Moreover, electrical equipment manufacturers are increasingly producing energy-efficient products to reduce environmental footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology.
Global electrical equipment market segments include:
1) By Type: Power Generation, Transmission And Control Equipment, House Hold Appliances, Wires and Cables. Electric Lighting Equipment. Batteries
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: B2B, B2C
5) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Electrical Equipment Opportunities And Strategies: Forecast To 2030 is one of a series of new reports from The Business Research Company that provides electrical equipment market overviews, analyzes and forecasts market size, share, electrical equipment market players, electrical equipment market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The electrical equipment identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Electrical Equipment Opportunities And Strategies: Forecast To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Panasonic Corporation, Samsung Electronics Co Ltd, Whirlpool Corporation, Schneider Electric, Siemens AG
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Electrical Equipment Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Electrical Equipment Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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