Electrical Equipment Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)
Description
The global electrical equipment market was valued at USD 1367.80 Billion in 2024 . The market is expected to grow at a CAGR of 6.80% during the forecast period of 2025-2034 to attain a value of USD 2640.80 Billion by 2034 . The market growth is mainly attributed to the rising demand for reliable electrical systems and power backup solutions from the healthcare sector.
Key Market Trends and Insights:
To resolve this, governments are supporting and investing actively to scale up health-care facility electrification, resulting in global electrical equipment market growth. This, in turn, has also surged in the adoption of clean and cost-effective energy solutions, such as those based on solar photovoltaic systems, to electrify health-care facilities sustainably and resiliently.
Moreover, the manufacturing ecosystem is focused on developing specialized and reliable power solutions for the healthcare sector. Market players are making continuous efforts to provide advanced backup batteries that are portable, durable, and compatible with various medical devices ensuring uninterrupted operations during power outages, which is further propelling the global electrical equipment industry growth. To cite a recent instance, in January 2025, US Med-Equip partnered with Zopec Medical to deliver high-quality batteries supporting life-saving equipment.
Global Electrical Equipment Market Report Summary
Description
Value
Base Year
USD Billion
2024
Historical Period
USD Billion
2018-2024
Forecast Period
USD Billion
2025-2034
Market Size 2024
USD Billion
1367.80
Market Size 2034
USD Billion
2640.80
CAGR 2018-2024
Percentage
XX%
CAGR 2025-2034
Percentage
6.80%
CAGR 2025-2034- Market by Region
Asia Pacific
7.6%
CAGR 2025-2034 - Market by Country
India
7.8%
CAGR 2025-2034 - Market by Country
China
7.5%
CAGR 2025-2034 - Market by Type
Batteries
14.6%
CAGR 2025-2034 - Market by Application
Residential
8.1%
Market Share by Country 2024
UK
3.9%
Key Trends and Recent Developments
February 2025
Siemens Southern Africa introduced SINOVA, a range of reliable and affordable low-voltage electrical products, in efforts to make electricity access more widely available across the region. This launch expanded the company’s presence across Africa and major emerging markets.
April 2025
Daikin extended its data center product portfolio with the launch of its new Pro-C computer room air handler (CRAH), designed to meet any data center configurations cooling needs. This product launch reflected the company’s commitment to adapt to evolving trends and industry advancements.
June 2024
ABB invested over USD 35 million to build an innovative greenfield facility in Nottingham, U.K., to meet increased demand for Furse® earthing and lightning protection solutions. The investments were made to integrate advanced technology, flexible automation, R&D testing, and digital processes in the facility to boost production capacity, efficiently and sustainably.
July 2024
Bosch acquired Johnson Controls’ global HVAC business and full ownership of the JCH joint venture to expand its Energy and Building Technology segment. This strategic move strengthened Bosch’s market presence in the U.S. and Asia, enhancing its global HVAC footprint.
Rising trend of smart home solutions
The global electrical equipment market is witnessing significant growth driven by the rising demand for intelligent, secure, and energy-efficient homes. Market players are creating smart home appliances and automated electrical appliances catering to the market demand. For instance, in June 2025, Lauritz Knudsen Electrical and Automation introduced its smart home platform, enConnect, designed to transform homes into intelligent, seamlessly connected living spaces. Additionally, key economies including Australia, the EU, the UK, and the US have begun introducing policies promoting the demand-side flexibility, both for energy-using appliances and equipment, further contribute to the growing demand for sustainable electrical solutions.
Increasing investments in renewable energy expansion projects
The rapid deployment of solar, wind, and other renewable energy sources has raised an urgent need for integrated electrical infrastructure and advanced equipment solutions. As per the International Energy Agency, in 2024, around USD 2 trillion of global energy investment was expected to be allocated to clean energy technologies and infrastructure. This growth is attributed to rising clean energy spending through decarbonization targets, energy security priorities, especially in the EU, along with widespread implementation of clean energy industrial strategies. These efforts, in turn, are expected to fuel global electrical equipment industry revenue.
Increasing Residential and Commercial Power Consumption
Rising electricity consumption across residential and commercial sectors is driving the demand for advanced electrical equipment, including efficient distribution systems and reliable energy backup solutions. As per the Net Zero Emissions by 2050 Scenario, nearly all appliances and equipment sold by 2035 must meet best-in-class efficiency standards. While current regulations like Minimum Energy Performance Standards (MEPS) have improved efficiency, further progress is essential. Governments are urged to intensify policy efforts and encourage energy-conscious consumer behavior. This combination of rising energy needs and sustainability goals is prompting widespread upgrades in electrical infrastructure, further influencing global electrical equipment market growth.
Massive investments in energy infrastructure transformation
Another factor influencing global electrical equipment market growth is rising large-scale investments in energy infrastructure transformation. As major regions are aiming to meet decarbonization and energy security goals, utilities and governments are prioritizing the modernization of transmission and distribution networks and expansion of renewable power capacity. These initiatives necessitate the usage of advanced electrical components and smart grid technologies, which is boosting market growth. A notable example is the EnBW's announcement to invest up to EUR 50 billion by 2030 to transform energy system in Germany, targeting renewables, hydrogen infrastructure, and smart grids.
Emergence of 5G and Telecom Infrastructure
Worldwide efforts for the deployment of 5G technology have surged demand for robust electrical infrastructure which can provide reliable power for uninterrupted operation of transmission units and telecom towers. In addition, ongoing smart city development projects have further fueled the adoption of connected devices requiring seamless network services, thereby contributing to global electrical equipment market growth. For instance, in July 2025, T‑Mobile announced the completion of its USD 2 billion expansion project in Florida which involved the extension of 5G coverage to almost 100% of the state, to enhance connectivity and digital infrastructure.
Global Electrical Equipment Industry Segmentation
The EMR’s report titled “Global Electrical Equipment Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Distribution Channel
Market Breakup by Region
CAGR 2025-2034- Market by
Region
Asia Pacific
7.6%
Europe
6.2%
North America
XX%
Latin America
XX%
Middle East and Africa
XX%
Global Electrical Equipment Market Share
By type, batteries amassed the highest revenue in global electrical equipment market share
In terms of type, the batteries segment represents the largest market share and is expected to record robust growth at 14.6% CAGR through -2034. The surge in adoption of sustainable mobility has contributed to the rising demand for EVs, in turn, boosting the demand for high-performance batteries.
Furthermore, as the government push for clean mobility intensifies, manufacturers are making major R&D investments focused on enhancing energy density, reducing costs, and improving sustainability. For example, in May 2025, General Motors revealed its upcoming lithium manganese-rich (LMR) battery cells, featuring premium range and performance at a lower cost. Such developments significantly contribute to segment growth.
Meanwhile, the household appliance segment is witnessing the fastest growth rate of 7.4% from 2025-2034 attributed to the steady growth of household appliances ownership across the urban and suburban regions worldwide. The Untied Nation estimated that around 68% of the world population is expected to live in urban areas by 2050. This number indicates that with the increasing number of households and rising incomes and gradually declining cost of energy-consuming devices, the demand for household appliances is currently reporting substantial demand and is set to skyrocket in the coming years.
By application, residential segment witnessed significantly higher growth
The residential application segment accounts for the largest revenue share in the global electrical equipment market. The segment growth is set to expand at 8.1% CAGR from 2025-2034 attributed to the rising adoption of smart home systems, energy-efficient appliances, and home automation solutions.
Additionally, manufacturers are creating tailor-made solutions to suit diverse residential needs worldwide, while minimizing energy wastage. For instance, in May 2025, Schneider Electric upgraded its Wiser 2.0 smart home automation range featuring easy and scalable automation with advanced energy management capabilities. Widespread availability of such sustainable electronic products to homebuilders and end users further contributes to the increasing usage of electrical equipment for residential purposes.
On the other hand, the commercial segment is demonstrating steady growth, primarily attributed to the ongoing transition towards smart and sustainable manufacturing. As the manufacturing sector undergoes profound transformation with digital technologies and automation, the demand for advanced commercial electrical equipment is rising.
Businesses are focused on implementing energy-efficient lighting, HVAC controls, and smart building systems that transform commercial environments, providing growth opportunities to market players. Citing an instance, in February 2025, AE Industrial Partners partnered with United Building Solutions, a leading HVAC services provider in the U.S., to create a comprehensive platform specifically to complex HVAC services for commercial buildings.
By distribution, the offline segment accounts for the largest revenue share
The offline distribution segment of the global electrical equipment market continues to dominate market growth due to the importance of brick-and-mortar retail methods for high-value, inspect-and-purchase products. Additionally, offline stores remain the major go-to option in rural and semi-urban areas with limited digital access. Moreover, market players are leveraging offline stores to market their products by combining convenience and engaging product experience, thereby boosting segment growth. For instance, in June 2024, as an expansion strategy, Legrand, established 25 new Zip stores designed to provide a comprehensive shopping experience to customers across India.
The online distribution segment is witnessing rapid growth, displaying the fastest growth rate due to growing penetration of e-commerce platforms and digital marketplaces. Manufacturers and retailers are aggressively investing in digital marketing and D2C models to expand their reach. Furthermore, as environmental consciousness grows, more consumers are turning to recommerce platforms to access refurbished and certified electrical equipment, thereby impacting the segment's growth. For instance, the strategic partnership between Recommerce Group and Euronics, announced in June 2025, enabled seamless online trade-in, resale, and delivery models across Europe, supporting a circular economy.
Global Electrical Equipment Market Regional Analysis
By region, Asia Pacific dominates the market growth
Asia Pacific holds the largest share in the global electrical equipment market and is set to expand at a 7.6% CAGR through 2034, driven by the strong policy support for domestic production of electronics, especially in China and India. In recent years, India has appeared as an ideal electronics manufacturing hub under its ‘Make in India’ initiative. As per the Ministry of Electronic & IT, the electronics' production in India will reach USD 300 billion by 2026, backed by substantial investments and government incentives. Meanwhile, China’s ‘Made in China 2025’ plan aims to increase the use of domestic content in high-tech products like semiconductors and other critical electronics components, further contributing to the regional market expansion.
Europe is experiencing the fastest growth at 6.2% CAGR between 2025-2034 in the global electrical equipment industry as the European Union is prioritizing digital transformation through major investments in emerging innovations. To strengthen its position as a tech leader, the EU allocated €180 million under the Horizon Europe Program to fund innovations in AI, robotics, and advanced materials.
Complementing this investment, the European Chips Act, launched in September 2023, aims to reinforce the region’s semiconductor ecosystem by reducing reliance on external suppliers, and doubling European global chip market share by 2030. Such initiatives are enhancing the digital resilience and strategic autonomy of the region, in turn, propelling industry growth forward.
Competitive Landscape
Key players in the global electrical equipment market include ABB Ltd., Sumitomo Electric Industries Ltd., Eaton Corporation PLC, Nexans SA, Grand Tech Group Ltd, Haier Group, AB Electrolux, Hi-Mix Electronics Inc, Robert Bosch GmbH, YAGEO Group, and others. These companies are significantly influencing market growth through innovation and strategic investments. Their focus on developing advanced technologies, expanding product portfolios, and enhancing energy efficiency has had a profound impact on market dynamics.
These efforts are not only meeting evolving consumer and industrial needs but also setting new standards in sustainability, automation, and smart infrastructure development across the sector. Recent developments in the market include the introduction of smart switchgear systems that enhance grid responsiveness and reduce operational downtime. On the industrial front, the adoption of automation equipment like intelligent sensors and control units is transforming production processes and improving efficiency. These advancements collectively contribute to the market’s robust and sustained growth.
ABB Ltd.
ABB Ltd., established in 1988, is a Swiss-based global technology leader specializing in electrification, robotics, and automation solutions. The company is dedicated to drive digital transformation by serving utilities, industries, and transport sectors with innovative products designed to improve efficiency and sustainability.
Eaton Corporation PLC
Founded in 1911, Eaton Corporation PLC is a multinational power management company offering energy-efficient solutions for electrical, hydraulic, and mechanical systems. It serves a wide range of sectors, including industrial, commercial, and residential markets. Eaton focuses on innovation to improve safety, reliability, and sustainability.
Haier Group
Haier Group is a leading global manufacturer of home appliances and consumer electronics. Known for its innovative and smart product lines, Haier emphasizes energy efficiency and user-centric design. The company maintains a strong presence in both emerging and developed markets.
AB Electrolux
AB Electrolux is a Swedish multinational specializing in household and professional appliances. The company prioritizes sustainability, innovative design, and high performance in its diverse product portfolio. Electrolux aims to enhance everyday living through smart and efficient solutions.
Other players in the global electrical equipment market include Sumitomo Electric Industries Ltd., Nexans SA, Grand Tech Group Ltd., Hi-Mix Electronics Inc., Robert Bosch GmbH, and YAGEO Group.
Key Highlights of the Global Electrical Equipment Market Report:
Explore the latest trends shaping the global electrical equipment market 2025-2034 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Get your free sample report or contact our team for personalized consultation on global electrical equipment market trends 2025 .
Key Market Trends and Insights:
- The Asia Pacific electrical equipment market secured the dominant position in the global industry in 2024 and is expected to grow at a CAGR of 7.6% over the forecast period.
- The Indian market is projected to grow at a CAGR of 7.5% over the forecast period.
- By type, batteries are projected to witness a CAGR of 14.6% over the forecast period.
- Residential applications are expected to grow at a CAGR of 8.1% over the forecast period.
- Market Size in 2024: USD 1367.80 Billion
- Projected Market Size in 2034: USD 2640.80 Billion
- CAGR from 2025 to 2034: 6.80%
- Dominant Regional Market: Asia Pacific
To resolve this, governments are supporting and investing actively to scale up health-care facility electrification, resulting in global electrical equipment market growth. This, in turn, has also surged in the adoption of clean and cost-effective energy solutions, such as those based on solar photovoltaic systems, to electrify health-care facilities sustainably and resiliently.
Moreover, the manufacturing ecosystem is focused on developing specialized and reliable power solutions for the healthcare sector. Market players are making continuous efforts to provide advanced backup batteries that are portable, durable, and compatible with various medical devices ensuring uninterrupted operations during power outages, which is further propelling the global electrical equipment industry growth. To cite a recent instance, in January 2025, US Med-Equip partnered with Zopec Medical to deliver high-quality batteries supporting life-saving equipment.
Global Electrical Equipment Market Report Summary
Description
Value
Base Year
USD Billion
2024
Historical Period
USD Billion
2018-2024
Forecast Period
USD Billion
2025-2034
Market Size 2024
USD Billion
1367.80
Market Size 2034
USD Billion
2640.80
CAGR 2018-2024
Percentage
XX%
CAGR 2025-2034
Percentage
6.80%
CAGR 2025-2034- Market by Region
Asia Pacific
7.6%
CAGR 2025-2034 - Market by Country
India
7.8%
CAGR 2025-2034 - Market by Country
China
7.5%
CAGR 2025-2034 - Market by Type
Batteries
14.6%
CAGR 2025-2034 - Market by Application
Residential
8.1%
Market Share by Country 2024
UK
3.9%
Key Trends and Recent Developments
February 2025
Siemens Southern Africa introduced SINOVA, a range of reliable and affordable low-voltage electrical products, in efforts to make electricity access more widely available across the region. This launch expanded the company’s presence across Africa and major emerging markets.
April 2025
Daikin extended its data center product portfolio with the launch of its new Pro-C computer room air handler (CRAH), designed to meet any data center configurations cooling needs. This product launch reflected the company’s commitment to adapt to evolving trends and industry advancements.
June 2024
ABB invested over USD 35 million to build an innovative greenfield facility in Nottingham, U.K., to meet increased demand for Furse® earthing and lightning protection solutions. The investments were made to integrate advanced technology, flexible automation, R&D testing, and digital processes in the facility to boost production capacity, efficiently and sustainably.
July 2024
Bosch acquired Johnson Controls’ global HVAC business and full ownership of the JCH joint venture to expand its Energy and Building Technology segment. This strategic move strengthened Bosch’s market presence in the U.S. and Asia, enhancing its global HVAC footprint.
Rising trend of smart home solutions
The global electrical equipment market is witnessing significant growth driven by the rising demand for intelligent, secure, and energy-efficient homes. Market players are creating smart home appliances and automated electrical appliances catering to the market demand. For instance, in June 2025, Lauritz Knudsen Electrical and Automation introduced its smart home platform, enConnect, designed to transform homes into intelligent, seamlessly connected living spaces. Additionally, key economies including Australia, the EU, the UK, and the US have begun introducing policies promoting the demand-side flexibility, both for energy-using appliances and equipment, further contribute to the growing demand for sustainable electrical solutions.
Increasing investments in renewable energy expansion projects
The rapid deployment of solar, wind, and other renewable energy sources has raised an urgent need for integrated electrical infrastructure and advanced equipment solutions. As per the International Energy Agency, in 2024, around USD 2 trillion of global energy investment was expected to be allocated to clean energy technologies and infrastructure. This growth is attributed to rising clean energy spending through decarbonization targets, energy security priorities, especially in the EU, along with widespread implementation of clean energy industrial strategies. These efforts, in turn, are expected to fuel global electrical equipment industry revenue.
Increasing Residential and Commercial Power Consumption
Rising electricity consumption across residential and commercial sectors is driving the demand for advanced electrical equipment, including efficient distribution systems and reliable energy backup solutions. As per the Net Zero Emissions by 2050 Scenario, nearly all appliances and equipment sold by 2035 must meet best-in-class efficiency standards. While current regulations like Minimum Energy Performance Standards (MEPS) have improved efficiency, further progress is essential. Governments are urged to intensify policy efforts and encourage energy-conscious consumer behavior. This combination of rising energy needs and sustainability goals is prompting widespread upgrades in electrical infrastructure, further influencing global electrical equipment market growth.
Massive investments in energy infrastructure transformation
Another factor influencing global electrical equipment market growth is rising large-scale investments in energy infrastructure transformation. As major regions are aiming to meet decarbonization and energy security goals, utilities and governments are prioritizing the modernization of transmission and distribution networks and expansion of renewable power capacity. These initiatives necessitate the usage of advanced electrical components and smart grid technologies, which is boosting market growth. A notable example is the EnBW's announcement to invest up to EUR 50 billion by 2030 to transform energy system in Germany, targeting renewables, hydrogen infrastructure, and smart grids.
Emergence of 5G and Telecom Infrastructure
Worldwide efforts for the deployment of 5G technology have surged demand for robust electrical infrastructure which can provide reliable power for uninterrupted operation of transmission units and telecom towers. In addition, ongoing smart city development projects have further fueled the adoption of connected devices requiring seamless network services, thereby contributing to global electrical equipment market growth. For instance, in July 2025, T‑Mobile announced the completion of its USD 2 billion expansion project in Florida which involved the extension of 5G coverage to almost 100% of the state, to enhance connectivity and digital infrastructure.
Global Electrical Equipment Industry Segmentation
The EMR’s report titled “Global Electrical Equipment Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Household Appliances
- Electric Lighting Equipment
- Batteries
- Power Generation
- Wires and Cables
- Transmission and Control Equipment
- Others
Market Breakup by Application
- Residential
- Commercial
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
CAGR 2025-2034- Market by
Region
Asia Pacific
7.6%
Europe
6.2%
North America
XX%
Latin America
XX%
Middle East and Africa
XX%
Global Electrical Equipment Market Share
By type, batteries amassed the highest revenue in global electrical equipment market share
In terms of type, the batteries segment represents the largest market share and is expected to record robust growth at 14.6% CAGR through -2034. The surge in adoption of sustainable mobility has contributed to the rising demand for EVs, in turn, boosting the demand for high-performance batteries.
Furthermore, as the government push for clean mobility intensifies, manufacturers are making major R&D investments focused on enhancing energy density, reducing costs, and improving sustainability. For example, in May 2025, General Motors revealed its upcoming lithium manganese-rich (LMR) battery cells, featuring premium range and performance at a lower cost. Such developments significantly contribute to segment growth.
Meanwhile, the household appliance segment is witnessing the fastest growth rate of 7.4% from 2025-2034 attributed to the steady growth of household appliances ownership across the urban and suburban regions worldwide. The Untied Nation estimated that around 68% of the world population is expected to live in urban areas by 2050. This number indicates that with the increasing number of households and rising incomes and gradually declining cost of energy-consuming devices, the demand for household appliances is currently reporting substantial demand and is set to skyrocket in the coming years.
By application, residential segment witnessed significantly higher growth
The residential application segment accounts for the largest revenue share in the global electrical equipment market. The segment growth is set to expand at 8.1% CAGR from 2025-2034 attributed to the rising adoption of smart home systems, energy-efficient appliances, and home automation solutions.
Additionally, manufacturers are creating tailor-made solutions to suit diverse residential needs worldwide, while minimizing energy wastage. For instance, in May 2025, Schneider Electric upgraded its Wiser 2.0 smart home automation range featuring easy and scalable automation with advanced energy management capabilities. Widespread availability of such sustainable electronic products to homebuilders and end users further contributes to the increasing usage of electrical equipment for residential purposes.
On the other hand, the commercial segment is demonstrating steady growth, primarily attributed to the ongoing transition towards smart and sustainable manufacturing. As the manufacturing sector undergoes profound transformation with digital technologies and automation, the demand for advanced commercial electrical equipment is rising.
Businesses are focused on implementing energy-efficient lighting, HVAC controls, and smart building systems that transform commercial environments, providing growth opportunities to market players. Citing an instance, in February 2025, AE Industrial Partners partnered with United Building Solutions, a leading HVAC services provider in the U.S., to create a comprehensive platform specifically to complex HVAC services for commercial buildings.
By distribution, the offline segment accounts for the largest revenue share
The offline distribution segment of the global electrical equipment market continues to dominate market growth due to the importance of brick-and-mortar retail methods for high-value, inspect-and-purchase products. Additionally, offline stores remain the major go-to option in rural and semi-urban areas with limited digital access. Moreover, market players are leveraging offline stores to market their products by combining convenience and engaging product experience, thereby boosting segment growth. For instance, in June 2024, as an expansion strategy, Legrand, established 25 new Zip stores designed to provide a comprehensive shopping experience to customers across India.
The online distribution segment is witnessing rapid growth, displaying the fastest growth rate due to growing penetration of e-commerce platforms and digital marketplaces. Manufacturers and retailers are aggressively investing in digital marketing and D2C models to expand their reach. Furthermore, as environmental consciousness grows, more consumers are turning to recommerce platforms to access refurbished and certified electrical equipment, thereby impacting the segment's growth. For instance, the strategic partnership between Recommerce Group and Euronics, announced in June 2025, enabled seamless online trade-in, resale, and delivery models across Europe, supporting a circular economy.
Global Electrical Equipment Market Regional Analysis
By region, Asia Pacific dominates the market growth
Asia Pacific holds the largest share in the global electrical equipment market and is set to expand at a 7.6% CAGR through 2034, driven by the strong policy support for domestic production of electronics, especially in China and India. In recent years, India has appeared as an ideal electronics manufacturing hub under its ‘Make in India’ initiative. As per the Ministry of Electronic & IT, the electronics' production in India will reach USD 300 billion by 2026, backed by substantial investments and government incentives. Meanwhile, China’s ‘Made in China 2025’ plan aims to increase the use of domestic content in high-tech products like semiconductors and other critical electronics components, further contributing to the regional market expansion.
Europe is experiencing the fastest growth at 6.2% CAGR between 2025-2034 in the global electrical equipment industry as the European Union is prioritizing digital transformation through major investments in emerging innovations. To strengthen its position as a tech leader, the EU allocated €180 million under the Horizon Europe Program to fund innovations in AI, robotics, and advanced materials.
Complementing this investment, the European Chips Act, launched in September 2023, aims to reinforce the region’s semiconductor ecosystem by reducing reliance on external suppliers, and doubling European global chip market share by 2030. Such initiatives are enhancing the digital resilience and strategic autonomy of the region, in turn, propelling industry growth forward.
Competitive Landscape
Key players in the global electrical equipment market include ABB Ltd., Sumitomo Electric Industries Ltd., Eaton Corporation PLC, Nexans SA, Grand Tech Group Ltd, Haier Group, AB Electrolux, Hi-Mix Electronics Inc, Robert Bosch GmbH, YAGEO Group, and others. These companies are significantly influencing market growth through innovation and strategic investments. Their focus on developing advanced technologies, expanding product portfolios, and enhancing energy efficiency has had a profound impact on market dynamics.
These efforts are not only meeting evolving consumer and industrial needs but also setting new standards in sustainability, automation, and smart infrastructure development across the sector. Recent developments in the market include the introduction of smart switchgear systems that enhance grid responsiveness and reduce operational downtime. On the industrial front, the adoption of automation equipment like intelligent sensors and control units is transforming production processes and improving efficiency. These advancements collectively contribute to the market’s robust and sustained growth.
ABB Ltd.
ABB Ltd., established in 1988, is a Swiss-based global technology leader specializing in electrification, robotics, and automation solutions. The company is dedicated to drive digital transformation by serving utilities, industries, and transport sectors with innovative products designed to improve efficiency and sustainability.
Eaton Corporation PLC
Founded in 1911, Eaton Corporation PLC is a multinational power management company offering energy-efficient solutions for electrical, hydraulic, and mechanical systems. It serves a wide range of sectors, including industrial, commercial, and residential markets. Eaton focuses on innovation to improve safety, reliability, and sustainability.
Haier Group
Haier Group is a leading global manufacturer of home appliances and consumer electronics. Known for its innovative and smart product lines, Haier emphasizes energy efficiency and user-centric design. The company maintains a strong presence in both emerging and developed markets.
AB Electrolux
AB Electrolux is a Swedish multinational specializing in household and professional appliances. The company prioritizes sustainability, innovative design, and high performance in its diverse product portfolio. Electrolux aims to enhance everyday living through smart and efficient solutions.
Other players in the global electrical equipment market include Sumitomo Electric Industries Ltd., Nexans SA, Grand Tech Group Ltd., Hi-Mix Electronics Inc., Robert Bosch GmbH, and YAGEO Group.
Key Highlights of the Global Electrical Equipment Market Report:
- Comprehensive Historical Analysis and accurate market forecasts up to 2034, capturing trends across sectors.
- Insights into product innovations driving smart electrification, renewable integration, and efficiency improvements.
- In-depth competitive landscape featuring strategic profiling of leading domestic and global electrical equipment manufacturers.
- Granular regional analysis uncovering high-growth geographies and emerging market hotspots.
- Investment-centric outlook with segment-wise data and actionable intelligence to guide strategic expansion and R&D priorities.
- Trusted insights derived from extensive primary and secondary research across value chains.
- Actionable data designed for strategic decision-making and competitive benchmarking.
- Detailed region-wise and product-specific analysis catering to diverse business objectives.
Explore the latest trends shaping the global electrical equipment market 2025-2034 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Get your free sample report or contact our team for personalized consultation on global electrical equipment market trends 2025 .
Table of Contents
165 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Electrical Equipment Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Electrical Equipment Historical Market (2018-2024)
- 5.3 Global Electrical Equipment Market Forecast (2025-2034)
- 5.4 Global Electrical Equipment Market by Type
- 5.4.1 Household Appliances
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 Electric Lighting Equipment
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 Batteries
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.4.4 Power Generation
- 5.4.4.1 Historical Trend (2018-2024)
- 5.4.4.2 Forecast Trend (2025-2034)
- 5.4.5 Wires and Cables
- 5.4.5.1 Historical Trend (2018-2024)
- 5.4.5.2 Forecast Trend (2025-2034)
- 5.4.6 Transmission and Control Equipment
- 5.4.6.1 Historical Trend (2018-2024)
- 5.4.6.2 Forecast Trend (2025-2034)
- 5.4.7 Others
- 5.5 Global Electrical Equipment Market by Application
- 5.5.1 Residential
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Commercial
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.6 Global Electrical Equipment Market by Distribution Channel
- 5.6.1 Online
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Offline
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.7 Global Electrical Equipment Market by Region
- 5.7.1 North America
- 5.7.1.1 Historical Trend (2018-2024)
- 5.7.1.2 Forecast Trend (2025-2034)
- 5.7.2 Europe
- 5.7.2.1 Historical Trend (2018-2024)
- 5.7.2.2 Forecast Trend (2025-2034)
- 5.7.3 Asia Pacific
- 5.7.3.1 Historical Trend (2018-2024)
- 5.7.3.2 Forecast Trend (2025-2034)
- 5.7.4 Latin America
- 5.7.4.1 Historical Trend (2018-2024)
- 5.7.4.2 Forecast Trend (2025-2034)
- 5.7.5 Middle East and Africa
- 5.7.5.1 Historical Trend (2018-2024)
- 5.7.5.2 Forecast Trend (2025-2034)
- 6 North America Electrical Equipment Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Electrical Equipment Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Electrical Equipment Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Electrical Equipment Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Electrical Equipment Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirates
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators of Demand
- 11.4 Key Indicators of Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profile
- 12.5.1 ABB Ltd.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Sumitomo Electric Industries Ltd
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Eaton Corporation PLC
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Nexans SA
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Grand Tech Group Ltd
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Haier Group
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 AB Electrolux
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Hi-Mix Electronics Inc
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Robert Bosch GmbH
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 YAGEO Group
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
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