The electrical equipment market exceeds 3393.5 billion USD

Luton, Bedfordshire, UK, August 03, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Electrical Equipment Market. The global electrical equipment market size is estimated to be USD 1315.8 billion in 2020 and is projected to reach USD 3393.5 billion by 2029, at a CAGR of 11.1% for the forecast years 2022 to 2029 .

The electrical equipment market includes sales of products that generate, distribute and use electrical energy by entities (organizations, sole proprietorships and partnerships) that manufacture products that generate, distribute and use electrical energy.

Electric lighting equipment, household appliances, power generation, transmission and control equipment, batteries, wires and cables are the major categories of electrical equipment. Electrical devices known as household appliances make household chores like cooking, cleaning, and storing food easier. Both online and offline modes are available to operate the device. B2B and B2C end consumers use OEM and aftermarket as some of the many sales channels.

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The largest region of the electrical equipment market in 2021 was Asia-Pacific. The second region of the electrical equipment market was Western Europe. The smallest region in the global electrical equipment market was Africa. Regions covered in the Electrical Equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and South America. ‘Africa.

Industry Outlook:

ABB is a leader in power and automation technologies that enable utility and industrial customers to improve their performance while reducing their impact on the environment. The ABB Group consists of several divisions, including Power Products, Power Systems, Discrete Automation and Motion, Low Voltage Products and Process Automation.

Sumitomo Electric Industries Ltd (Sumitomo) is a developer, producer, marketer and distributor of electronics, info-communication, automotive, industrial materials, environment and energy related products.

Within the scope of Electrical Equipment market segmentation, our study presents market analysis based on type, market application and historical data:

Attributes Details (current scenario)
base year 2020-2021
Historical data 2019-2020
Forecast period 2022-2029
Regions covered
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa
By type/function
  • Electric lighting equipment
  • Household appliances
  • energy production
  • Transmission and control equipment
  • Battery
  • wires and cables
By app
CAGR (XX%) 11.1 % (Analysis of the current market)
Personalization available Yes, the report can be customized according to your needs. (Free 15% customization)
delivery format PDF and Excel by e-mail

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Reasons to Buy Electrical Equipment Market

  • This report provides pin-point analysis for changing competitive dynamics
  • It offers a forward-looking perspective on different factors driving or restraining market growth
  • It provides a six-year forecast assessed based on expected market growth
  • It helps in understanding the key product segments and their future
  • It provides pin-point analysis of changing competition dynamics and keeps you one step ahead of competitors.
  • It helps in making informed business decisions by having a comprehensive view of the market and performing in-depth analysis of market segments

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