PUBLISHER: The Business Research Company | PRODUCT CODE: 1680407
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680407
The electrical and electronics sector encompasses products involved in generating, distributing, and utilizing electrical power, along with electronic devices such as audio, video, and semiconductors. Notably, this market excludes computers, computer peripherals, and telecom equipment.
Key categories comprise electrical equipment, measuring and control instruments, and electronic products. Electrical equipment refers to any apparatus, cable, meter, or material utilized in controlling, generating, supplying, transforming, or transmitting electricity beyond extra-low voltage, or powered by electricity exceeding this threshold. These devices operate via online and offline modes. Sales channels in this industry span OEM and aftermarket avenues catering to both B2B and B2C end users.
The electrical and electronics market research report is one of a series of new reports from The Business Research Company that provides electrical and electronics market statistics, including electrical and electronics industry global market size, regional shares, competitors with an electrical and electronics market share, detailed electrical and electronics market segments, market trends and opportunities, and any further data you may need to thrive in the electrical and electronics industry. This electrical and electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electrical and electronics market size has grown strongly in recent years. It will grow from $3951.27 billion in 2024 to $4262.41 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased consumer electronics demand, globalization of supply chains, trade policies and tariffs, miniaturization of devices, energy efficiency concerns.
The electrical and electronics market size is expected to see strong growth in the next few years. It will grow to $5584.89 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to renewable energy integration, environmental sustainability, cybersecurity concerns, e-waste management, flexible electronics, quantum computing. Major trends in the forecast period include internet of things (IoT) integration, edge computing, robotics and automation, artificial intelligence (AI), smart manufacturing.
The rapid evolution of electronics technology is fostering a continuous demand for newer and faster electrical and electronic products. Technological advancements play a pivotal role in attracting both consumers and business users, driving the replacement or upgrade of older products with more advanced versions. Innovations in digital technologies such as the Internet of Things (IoT) and the latest communication technologies such as 5G are anticipated to contribute to the development of cutting-edge electronic products. This technological progress is poised to escalate the demand for electronic products, consequently propelling the growth of the electronic equipment manufacturing market throughout the forecast period.
The increasing prevalence of Internet of Things (IoT) devices is expected to be a driving force behind the growth of the electrical and electronics market in the foreseeable future. IoT, referring to a network of interconnected physical objects embedded with sensors, software, and other technologies, facilitates the collection and exchange of data with other devices and systems over the internet. IoT devices play a crucial role in enabling real-time monitoring and management of electrical and electronic systems, ensuring consistent quality in electronic components and devices. As of March 2023, projections from Exploding Topics, a US-based online platform providing insights into emerging trends, suggest an anticipation of 25.4 billion IoT devices by the year 2030. Consequently, the increasing prevalence of IoT devices is propelling the growth of the electrical and electronics market.
The adoption of virtual reality technology by electronic manufacturing companies is aimed at enhancing manufacturing efficiency. Referred to as digital design, simulation, and integration in the electronic manufacturing industry, virtual reality helps minimize product defects during the design phase. Companies employing virtual reality, such as Integrated Microelectronics, Inc., Flextronics International Ltd., Benchmark Electronics, Inc., and Kimball International, benefit from inspecting design objects at various scales, eliminating defects in the product during the design stage.
Major companies in the electrical and electronics market are prioritizing innovative launches, such as cloud-native software, to deliver reliable services to their customers. Cloud-native software for electrical design is designed to operate in cloud computing environments. Siemens AG, a Germany-based electrical and electronics manufacturing company, launched a new cloud-native electrical design software in October 2022. This software, delivered as a service, is tailored for small- to medium-sized firms. It offers flexibility, efficiency, and collaboration capabilities suitable for the dynamic field of electrical and electronic product design. The browser-based solution allows designers and engineers to rapidly develop electrical diagrams using any device, with a modest monthly fee promoting accessibility and ease of use.
Major companies operating in the electrical and electronics market include General Electric Company, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Koninklijke Philips N.V., Black & Decker Corporation, Electrolux AB, Tefal S.A.S., Maytag Corporation, SharkNinja Operating LLC, De'Longhi SpA, Conair Corporation, Morphy Richards Ltd., Breville Group Limited, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Hamilton Beach Brands Inc., BCL Electronics Pvt. Ltd., Flyco Electrical Appliance Co. Ltd., Eveready Industries India Ltd., Vornado Air LLC, Braun GmbH, Sunbeam Products Inc., Russell Hobbs Inc., Singer Corporation, Kenmore Group Ltd., Oster Manufacturing Company, Applica Consumer Products Inc., Jarden Corporation
Asia-Pacific was the largest region in the electrical and electronics market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electrical and electronics market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The electrical and electronics market consists of sales of photoresist and photoresist ancillaries, superconductors, photoelectric sensors, automotive dc-dc converters, surface inspection, temperature sensors, fingerprint sensors, quantum dot, touch screen controllers, torque sensors, pressure sensors, silicon photonics, automotive wiring harness and other electrical and electronics components. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electrical And Electronics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electrical and electronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electrical and electronics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electrical and electronics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.