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What Is The Electrical And Electronics Market Growth Rate? A 6.9% CAGR Outlook Through 2030
The electrical and electronics market has experienced substantial growth in its size over the past few years. It is projected to expand from $4064.37 billion in 2025 to $4302.84 billion in 2026, registering a compound annual growth rate (CAGR) of 5.9%. The historical expansion of this market can be attributed to factors such as early industrial electrification and automation, the global rise in electronics manufacturing, increasing demand for power distribution equipment, the broadening scope of household and commercial electronics, and developments in instrumentation for industrial monitoring.
The electrical and electronics market is projected to experience robust expansion in the coming years. This market is forecast to reach $5610.71 billion in 2030, demonstrating a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this expansion include the growing uptake of smart sensors and intelligent control systems, an increased demand for precision measurement in advanced manufacturing, the proliferation of renewable energy initiatives necessitating electrical equipment, a rise in B2C electronics consumption, and accelerated improvements in industrial automation. Key trends anticipated during this period encompass a heightened demand for sophisticated measurement and control devices, an expansion in consumer electronics variety, a greater move towards energy-efficient electrical equipment, an increase in aftermarket services and enhancements, and a rising inclination towards electronic products with multiple functions.
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Why Is The Electrical And Electronics Market Growing? The Key Demand Driver Explained
The growing number of IoT devices is anticipated to propel the expansion of the electrical and electronics market moving forward. IoT (Internet of Things) refers to a network of interconnected physical objects equipped with sensors, software, and other technologies that enable them to gather and exchange data with other devices and systems over the internet. IoT devices facilitate real-time monitoring and management of electrical and electronic systems, thereby ensuring the consistent quality of electronic components and devices. For instance, in March 2023, Exploding Topics, a US-based online platform offering insights into emerging and trending topics, projected that there would be 25.4 billion IoT devices by 2030. Consequently, the increasing adoption of IoT devices is a key factor driving the growth of the electrical and electronics market going forward.
What Are The Main Segments Of The Electrical And Electronics Market?
The electrical and electronics market covered in this report is segmented –
1) By Type: Electrical Equipment, Measuring And Control Instruments, Electronic Products
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: B2B, B2C
Subsegments:
1) By Electrical Equipment: Switchgear, Transformers, Circuit Breakers, Relays, Distribution Boards
2) By Measuring And Control Instruments: Multimeters, Oscilloscopes, Analyzers, Pressure Sensors, Temperature Sensors
3) By Electronic Products: Consumer Electronics, Industrial Electronics, Medical Electronics
Electrical And Electronics Market Trend Analysis: Where Leading Companies Are Focusing
Leading companies in the electrical and electronics market are focusing on developing innovative solutions, such as electric vehicles (EVs), to meet the rising demand for sustainable and energy-efficient transportation. Electric vehicles (EVs) are automobiles powered by electric motors using rechargeable batteries instead of traditional fuel engines, which helps reduce greenhouse gas emissions, lower operating costs, and promote cleaner, more energy-efficient transport. For instance, in November 2025, SUGS LLOYD Ltd., an India-based technology-driven engineering and construction company, introduced Vyna Electric, an advanced electric vehicle designed for urban commuting. The Vyna Electric is equipped with a high-efficiency lithium-ion battery, lightweight chassis, and an advanced energy management system, providing a longer range and faster charging compared to conventional EVs. Its design prioritizes safety, durability, and user-friendly operation, making it suitable for both personal and fleet applications. This launch underscores the shift towards greener mobility solutions and highlights SUGS LLOYD’s commitment to advancing EV technology.
Which Companies Are Major Players In The Electrical And Electronics Market?
Major companies operating in the electrical and electronics market are General Electric Company (GE), Siemens Aktiengesellschaft (Siemens AG), Schneider Electric SE, ABB Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, LG Electronics Inc., Samsung Electronics Co., Ltd., Sony Corporation, Hitachi, Ltd., Toshiba Corporation, Koninklijke Philips N.V. (Philips), Robert Bosch GmbH (Bosch), Texas Instruments Incorporated, Intel Corporation, STMicroelectronics N.V., Infineon Technologies AG, Honeywell International Inc., Rockwell Automation, Inc., Emerson Electric Co.
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Which Region Held The Largest Share Of The Electrical And Electronics Market In 2025?
Asia-Pacific was the largest region in the electrical and electronics market in 2025. North America was the second largest region in the electrical and electronics market. The regions covered in the electrical and electronics 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.
