Electrical Equipment Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company’s Electrical Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, April 26, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is key for attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products, which will ultimately drive the growth of electronic equipment manufacturing market during the forecast period.
The electrical equipment market consists of sales of products that generate, distribute and use electrical power by entities (organizations, sole traders and partnerships) that produce products that generate, distribute and use electrical power.
TBRC’s global electrical equipment market report is segmented by type into electric lighting equipment, household appliances, power generation, transmission and control equipment, batteries, wires and cables, by end-use into B2B, B2C, by sales channel into OEM, aftermarket, and by mode into online, offline. Subsegments covered are general lighting, automotive lighting, back lighting, small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment, other major household appliance, transformer, electric motor and generator, switchgear and switchboard apparatus, relay and industrial controls, secondary batteries, primary batteries, other cables, coaxial cables, fiber optical cable.
Read More On The Global Electrical Equipment Market Report:
https://www.thebusinessresearchcompany.com/report/electrical-equipment-global-market-report-2020-30-covid-19-impact-and-recovery
The global electrical equipment market size is expected to grow from $1.17 trillion in 2020 to $1.27 trillion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.66 trillion in 2025 at a CAGR of 7%.
Asia Pacific is the largest region in the global electrical equipment market, accounting for 45% of the market in 2020. Western Europe is the second largest region accounting for 22% of the global market. Africa was the smallest region in the global electrical equipment market.
Major companies in the electrical industry include Panasonic Corporation, Samsung Electronics Co Ltd, ABB Ltd, Sumitomo Electric Industries Ltd, and Toshiba Corporation.
Electrical Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides electrical equipment market overview, forecast electrical equipment market size and growth for the whole market, electrical equipment market segments, and geographies, electrical equipment market trends, electrical equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
General Electrical Equipment And Components Global Market Report 2020-30: COVID-19 Impact and Recovery
https://www.thebusinessresearchcompany.com/report/general-electrical-equipment-and-components-global-market-report-2020-30-covid-19-impact-and-recovery
Electrical And Electronics Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/electrical-and-electronics-global-market-report-2020-30-covid-19-impact-and-recovery
Small Electrical Appliance Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/small-electrical-appliances-global-market-report
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