PUBLISHER: The Business Research Company | PRODUCT CODE: 1923159
PUBLISHER: The Business Research Company | PRODUCT CODE: 1923159
General electrical equipment and components are devices, machinery, and parts designed to generate, distribute, control, and utilize electrical power across a variety of applications. They play a crucial role in both residential and industrial electrical systems. These components are vital for ensuring the safe and efficient operation of electrical systems, supporting the functionality of various devices and infrastructures.
The primary types within the general electrical equipment and components market are categorized into online, offline, and offline. In general, the online mode pertains to electrical equipment that is accessible to customers through online means. Various sales channels for these products include OEM (Original Equipment Manufacturer) and aftermarket channels. These electrical equipment and components find applications in both commercial and residential segments.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs have influenced the general electrical equipment and components market by increasing import costs of raw materials and finished products, particularly affecting Asia-Pacific and European regions, which are key manufacturing and supply hubs. Segments such as commercial and industrial electrical systems face higher cost pressures, while online and offline distribution channels experience fluctuating prices. Although tariffs have posed challenges in production and supply chain continuity, they have also encouraged local manufacturing, innovation in cost-efficient components, and adoption of domestic supply alternatives.
The general electrical equipment and components market research report is one of a series of new reports from The Business Research Company that provides general electrical equipment and components market statistics, including general electrical equipment and components industry global market size, regional shares, competitors with general electrical equipment and components market share, detailed general electrical equipment and components market segments, market trends and opportunities, and any further data you may need to thrive in the general electrical equipment and components industry. This general electrical equipment and components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The general electrical equipment and components market size has grown strongly in recent years. It will grow from $90.44 billion in 2025 to $95.21 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increasing industrialization, expansion of residential infrastructure, adoption of conventional automation systems, rising demand for electrical safety devices, growth of small and medium enterprises.
The general electrical equipment and components market size is expected to see strong growth in the next few years. It will grow to $121.08 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to integration with renewable energy systems, adoption of smart infrastructure, demand for IoT-enabled devices, growth in electric mobility, shift toward energy-efficient industrial automation. Major trends in the forecast period include smart grid integration, energy-efficient electrical components, predictive maintenance and diagnostics, modular and scalable electrical systems, advanced safety and compliance solutions.
The growing adoption of renewable energy sources is expected to drive the growth of the general electrical equipment market. Renewable energy sources refer to energy derived from naturally replenishing resources such as sunlight, wind, water, and biomass that can be used sustainably without depletion. Their increasing adoption is mainly due to the need to reduce greenhouse gas emissions, as these energy sources produce little to no carbon dioxide compared to fossil fuels, helping mitigate climate change and support environmental sustainability. Renewable energy sources benefit general electrical equipment by providing a sustainable, stable, and low-emission power supply that improves efficiency, reduces operational costs, and supports long-term energy reliability. For example, in December 2024, Eurostat, a Luxembourg-based government agency, reported that renewable energy accounted for 24.5% of total energy consumption in the EU in 2023, up from 23.0% in 2022. Therefore, the shift toward eco-friendly and energy-efficient electrical equipment is expected to drive growth in the general electrical equipment market during the forecast period.
Major companies in the general electrical equipment and components market are focused on developing advanced power protection relays to improve the reliability, adaptability, and stability of power distribution grids amid evolving energy needs. An advanced power protection relay is a sophisticated device designed to detect abnormal electrical conditions, such as overcurrents or faults, and automatically trip circuit breakers to isolate affected areas and protect equipment from damage. For example, in October 2024, Hitachi Energy, a Switzerland-based technology company, introduced the Relion REF650 for India's medium-voltage power distribution grid. This relay offers enhanced modularity, strong security features, and a simplified interface to meet the dynamic power quality requirements of utilities and industrial facilities. It also supports the integration of renewable energy sources and EV charging infrastructure, contributing to a more stable and adaptable electricity distribution network.
In September 2023, Schneider Electric, a France-based company specializing in digital automation and energy management, entered into a partnership with JS Electromec. Through this partnership, JS Electromec will establish local manufacturing of Prisma iPM electrical switchboards in compliance with IEC standards. The initiative aims to deliver safe, reliable, and cloud-connected switchgear to the Tanzanian building and industrial sectors. JS Electromec is a leading electrical panel builder and supplier of electrical products in Tanzania.
Major companies operating in the general electrical equipment and components market are Panasonic Corporation, Samsung Electronics Co., Ltd., ABB Ltd., Sumitomo Electric Industries, Ltd., Toshiba Corporation, Eaton Corporation plc, Emerson Electric Co., Schneider Electric SE, Siemens AG, Prysmian Group S.p.A., Yaskawa Electric Corporation, Vertiv Holdings Co., nVent Electric plc, Chint Group Corporation, Acuity Brands, Inc., Voltronic Power Technology Corporation, Walsin Technology Corporation, Hongfa Technology Co., Ltd., Orient Cable Co., Ltd., Belden Inc., MOONS' Industries Co., Ltd., China XD Group Corporation, Nexans S.A., Signify N.V., Ultralife Corporation, Preformed Line Products Company, Orion Energy Systems, Inc., Asia Pacific Wire & Cable Corporation Ltd.
Asia-Pacific was the largest region in the general electrical equipment and components market in 2025. North America is the second-largest region in the general electrical equipment and components market. The regions covered in the general electrical equipment and components market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the general electrical equipment and components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The general electrical equipment and components market consist of sales of power converters (i.e., AC to DC and DC to AC), power supplies, surge suppressors, and other general electrical equipment. 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.
General Electrical Equipment And Components Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses general electrical equipment and components 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 general electrical equipment and components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The general electrical equipment and components 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, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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