With a focus on actionable insights and strategic value, The Business Research Company’s 2026 market reports include market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights.
How Much Will The Electrical Equipment Market Be Worth By 2030?
The electrical equipment market size has shown robust growth in recent years. It is projected to expand from $1752.23 billion in 2025 to $1843.57 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 5.2%. Historically, this growth has been driven by factors such as the early electrification of industries and households, the expansion of power distribution infrastructure, increasing demand for household and commercial appliances, the development of standardized electrical protection systems, and the growing application of lighting and wiring solutions in construction.
The electrical equipment market is set to experience significant expansion over the next few years, with its size expected to reach $2339.87 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6.1%. This growth during the forecast period is attributable to an increasing shift towards intelligent and automated electrical systems, a rising embrace of renewable energy-based power generation, the expansion of electric mobility which boosts demand for cables and power equipment, the growth in manufacturing energy-efficient appliances, and an increasing focus on sustainable and recyclable electrical components. Prominent trends throughout this period include the rising adoption of energy-efficient lighting and appliances, a growing demand for advanced power distribution and protection systems, the continued integration of renewable energy, the expansion of smart control equipment in both residential and commercial settings, and an increasing need for durable wires and cables in various infrastructure projects.
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The Key Driver Behind The Electrical Equipment Market’s 6.1% CAGR
Swift advancements in electronics technology are continuously boosting the need for modern and quicker electronic devices. Progress in technology is crucial for enticing both consumers and businesses to substitute or enhance their older devices with more sophisticated alternatives. Digital solutions like the Internet of Things (IoT) and cutting-edge communication standards such as 5G are anticipated to foster the creation of pioneering electronic goods. This surge in innovative electronic products is projected to amplify demand, thereby propelling the expansion of the electronic equipment manufacturing market throughout the forecast period. The expanding manufacturing industry is anticipated to boost the growth of the Electrical Equipment Market. This sector, which converts raw materials into finished goods using machinery, labor, and technology, is experiencing growth due to increasing global product demand, technological advancements, automation, and a heightened focus on production efficiency and sustainability. Electrical equipment is vital within manufacturing for powering machinery, managing processes, ensuring safety, and boosting operational efficiency and automation. For example, a report from the National Association of Manufacturers (NAM), a US-based advocacy group, in September 2024, showed that manufacturing’s value-added output increased from an annual rate of $2.881 trillion in Q1 to $2.910 trillion in Q2 of 2024. During Q2, manufacturing accounted for 10.0% of the U.S. economy’s total value-added output. Furthermore, the manufacturing sector’s real value-added output rose from $2.337 trillion at an annual rate in Q1 to $2.384 trillion in Q2. Consequently, the expanding manufacturing sector is fueling the growth of the Electrical Equipment Market.
Electrical Equipment Market Classification: Main Segments And Detailed Subsegments
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 Shifts: What Leading Players Are Prioritizing
Major companies operating in the electrical equipment market are developing technologically advanced products, such as wiring devices, to ensure safe and reliable electrical connections. These wiring devices are electrical components used to connect, control, or distribute electrical power in a system, including items such as switches, outlets, plugs, and connectors, ensuring safe and efficient electrical operation in residential, commercial, and industrial settings. For instance, in March 2023, Honeywell International Inc., a US-based industrial goods and machinery company, launched the Blenze Pro Wiring Devices for the Indian market. The Blenze Pro range is tailored to meet the premium wiring needs of architects, interior designers, builders, and developers in residential, commercial, and hospitality projects. With front plates crafted from high-quality materials such as metal and glass, Blenze Pro Wiring Devices deliver a unique and sophisticated appearance. Additionally, these devices feature silent and soft-switch operation along with optimal illumination, enhancing both convenience and aesthetics.
Electrical Equipment Market Company Analysis: Major Industry Participants
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 Global Regional Breakdown: Key Regions Analyzed
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.
