The General Electrical Equipment And Components Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s General Electrical Equipment And Components Global Market Report 2024, 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%. The growth in the forecast period can be attributed to renewable energy, electrification, smart grids, digitalization. Major trends in the forecast period include electrification and renewable energy, smart and iot-enabled devices, digitalization and industry 4.0, battery technology.
Electrical equipment is being equipped with IoT (Internet Of Things) which provides an edge on how tools are controlled and managed. 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. For instance, August Home released Doorbell Cam Pro which enables the owner to answer the door from any location. Thus, IoT is positively impacting the sales of electrical equipment and contributes to the growth of the general electrical equipment and components market.
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The general electrical equipment and components market covered in this report is segmented –
1) By Mode: Online; Offline
2) By Sales Channel: OEM; Aftermarket
3) By End User: Commercial; Residential
The general electrical equipment and components market report table of contents includes:
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
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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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