The Specialty Electricals Global Market Report 2023, provides comprehensive information on the specialty electricals market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global specialty electricals market size is expected to grow from $218.05 billion in 2022 to $254.70 billion in 2023 at a compound annual growth rate (CAGR) of 16.81%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global specialty electricals market size is expected to reach $455.17 billion in 2027 at a CAGR of 15.62%.
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Technological advancements are a key trend gaining popularity in the specialty electrical market. Major companies operating in the specialty electrical market are focused on developing new technological solutions to strengthen their position. For instance, in December 2020, Electri-Flex Co., a US-based leading innovator of value-added solutions for flexible wire and cable protection, launched the flexible electrical conduit “Liquatite.” It is uniquely designed with corrosion-resistance, halogen-free, and EMI/RFI shielding solutions. It has zero-halogen and low fire-hazard properties and is available in a variety of jacket colors. It is a high-quality flannel with a liquid-tight construction that can be used for a variety of applications. They help in easily identifying the wiring and meeting safety requirements.
The specialty electricals market is segmented:
1) By Product: Wiring Devices, Batteries And Accumulators, Electrical Wires And Cables, Other Products
2) By Application: Transformers, Electricity Meter, Distribution Boards, Circuit Breakers, Other Applications
3) By End User: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the specialty electricals market in 2022.
The table of contents in TBRC’s specialty electricals market report includes:
- Executive Summary
- Specialty Electricals Market Characteristics
- Specialty Electricals Market Trends And Strategies
- Specialty Electricals Market – Macro Economic Scenario
- Specialty Electricals Market Size And Growth
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- Africa Specialty Electricals Market
- Specialty Electricals Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Specialty Electricals Market
- Specialty Electricals Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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