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#Electrical Equipment Market Size And Revenue Forecast Through 2030
The electrical equipment market size has demonstrated strong growth over recent years. It is anticipated to expand from $1752.23 billion in 2025 to $1843.57 billion in 2026, achieving a compound annual growth rate (CAGR) of 5.2%. This historical growth can be attributed to the early electrification of industries and households, the expansion of power distribution infrastructure, a rising demand for household and commercial appliances, the development of standardized electrical protection systems, and the growing use of lighting and wiring solutions in construction.
The electrical equipment market is anticipated to exhibit robust growth in the coming years. Its valuation is projected to reach $2339.87 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6.1%. This projected increase is attributable to a burgeoning move towards smart and automated electrical systems, the escalating uptake of renewable energy-based power generation, the expansion of electric mobility driving demand for cables and power equipment, the growth in manufacturing of energy-efficient appliances, and an increased emphasis on sustainable and recyclable electrical components. Noteworthy trends for the forecast period encompass a greater adoption of energy-efficient lighting and appliances, an escalating requirement for advanced power distribution and protection systems, further integration of renewable energy, the proliferation of smart control equipment across residential and commercial settings, and a rising need for durable wires and cables in various infrastructure projects.
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Electrical Equipment Market Expansion Drivers: What Is Shaping Future Growth?
Swift advancements in electronics technology are consistently fueling the need for more modern and quicker electronic devices. Technological progress is crucial for drawing in both consumers and businesses, encouraging them to replace or enhance older items with advanced models. Digital innovations like the Internet of Things (IoT) and cutting-edge communication technologies such as 5G are anticipated to support the creation of innovative electronic products. This anticipated rise in demand for electronic products will ultimately propel the expansion of the electronic equipment manufacturing market throughout the forecast period. The expanding manufacturing industry is projected to drive the growth of the electrical equipment market in the future. This sector of the economy converts raw materials into finished goods using various methods, typically involving machinery, labor, and technology. The manufacturing industry is experiencing growth due to increasing global product demand, technological and automation advancements, and a heightened focus on efficiency and sustainability in production. Electrical equipment plays a vital role in manufacturing, providing power for machinery, managing production, ensuring safety, and improving operational efficiency and automation. For example, a report from the National Association of Manufacturers (NAM), a US-based advocacy group, indicated in September 2024 that value-added output in manufacturing escalated from an annual rate of $2.881 trillion in Q1 to $2.910 trillion in Q2 of 2024. During Q2, manufacturing constituted 10.0% of the total value-added output in the U.S. economy. Furthermore, real value-added output in the manufacturing sector saw an increase from $2.337 trillion at an annual rate in Q1 to $2.384 trillion in Q2. Consequently, the expansion of the manufacturing industry is propelling the growth of the electrical equipment market.
Electrical Equipment Market Segment Outlook: Which Categories Are Expanding The Fastest?
The electrical equipment market covered in this report is segmented –
1) By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: Business To Business (B2B), Business To Customer (B2C)
Subsegments:
1) By Electric Lighting Equipment: LED Lighting, Fluorescent Lighting, Incandescent Lighting, Smart Lighting Solutions, Street Lighting
2) By Household Appliances: Major Appliances, Small Appliances, Heating and Cooling Equipment
3) By Power Generation: Renewable Energy Sources, Conventional Power Generation, Generators
4) By Transmission and Control Equipment: Transformers, Switchgear, Circuit Breakers, Relay Systems, Power Distribution Units (PDUs)
5) By Batteries: Lead-Acid Batteries, Lithium-Ion Batteries, Nickel-Cadmium Batteries, Lithium Polymer Batteries, Flow Batteries
6) By Wires and Cables: Low Voltage Cables, Medium Voltage Cables, High Voltage Cables, Specialty Cables, Conductors
Electrical Equipment Market Strategic Trends: What Is Defining The Next Phase Of Growth?
Major companies operating in the electrical equipment market are focusing on developing technologically advanced products, particularly wiring devices, to ensure secure and dependable electrical connections. Wiring devices themselves are electrical components utilized for connecting, controlling, or distributing electrical power within a system, encompassing items such as switches, outlets, plugs, and connectors, which facilitate safe and efficient electrical operation in residential, commercial, and industrial environments. For instance, in March 2023, Honeywell International Inc., an industrial goods and machinery company from the US, introduced the Blenze Pro Wiring Devices specifically for the Indian market. This Blenze Pro range is engineered to fulfill the premium wiring demands of architects, interior designers, builders, and developers involved in residential, commercial, and hospitality projects. With front plates meticulously crafted from high-quality materials like metal and glass, Blenze Pro Wiring Devices present a distinctive and sophisticated look. Moreover, these devices incorporate silent and soft-switch operations complemented by optimal illumination, thereby enhancing both practicality and aesthetic appeal.
Electrical Equipment Market Key Companies And Competitive Benchmarking
Major companies operating in the electrical equipment market are Panasonic Corporation, Samsung Electronics Co Ltd, Whirlpool Corporation, Schneider Electric, Siemens AG, ABB Ltd., Sumitomo Electric Industries Ltd, Eaton Corporation, Nexans, Grand Tech Group Ltd, Haier, Electrolux, Hi-mix Eletronicos S.A, Lidertrans Groupe, Bosch, Yago Electronic, Changqinglin Electronic Company Ltd, Transmission Equipment Industry LLC, Makelsan Power Systems, Solaris Technologies Llc, Nicolay GmbH & Co.KG, Arcelik, Daikin, Electrodomesticos Taurus SL, Cata Electrodomesticos SL, Edesa Industrial, NKT Cables Group GmbH, Permanoid, Polystar, British Cables Company, Industrial Group Mida (Microelectronic Sensors), Serdia Eletrônica Industrial, Liebherr, J.J. Consultancies S.A, Suyuanyineng Electricity Machinery Equipment (Wuxi) Company Ltd, SMEG, Zvetlit, Leoni AG, Glen Dimplex Group, Emersion Electric, Wuxi Meida Electro Technical Co. Ltd, Furukawa Electric Industries Ltd, QASA, Amphenol Corp, LG, General Cable Corporation, Belden Inc, Sharp, Hisense, Castelo Angel, Electroquil S.A, KCM Trading Co, Comercializadora Mjb Spa, Comercial Autosystem Limitada, Miele, Wesco International, Trojan Power, Alderly FZE, Comeca Middle East Electrical Equipment LLC, Arabian Falcon, Prysmian Group, Elsewedy Electric, Prime Electrical Manufacturing, Shiandg Der Enterprise Co. Ltd, Hitachi, Fareast Mercantile Co Ltd, First National Battery Pty Ltd.
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Electrical Equipment Market Largest Region By Revenue And Market Share
Asia-Pacific was the largest region in the electrical equipment market in 2025. Western Europe was the second largest region in the electrical equipment market. Africa was the smallest region in the global electrical equipment market. The regions covered in the electrical equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.