Electrical Equipment Market Report 2026

The electrical equipment market size has grown strongly in recent years. It will grow from $1.75 trillion in 2025 to $1.84 trillion in 2026 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to early electrification of industries and households, expansion of power distribution infrastructure, rising demand for household and commercial appliances, development of standardized electrical protection systems, growing use of lighting and wiring solutions in construction.

The electrical equipment market size is expected to see strong growth in the next few years. It will grow to $2.33 trillion in 2030 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing shift toward smart and automated electrical systems, rising adoption of renewable energy based power generation, growth in electric mobility boosting demand for cables and power equipment, expansion of energy efficient appliance manufacturing, growing focus on sustainable and recyclable electrical components. Major trends in the forecast period include rising adoption of energy efficient lighting and appliances, increasing demand for advanced power distribution and protection systems, growth in renewable energy integration, expansion of smart control equipment in residential and commercial setups, increasing need for durable wires and cables in infrastructure projects.

The rapid advancement of electronics technology continues to generate steady demand for newer and faster electronic devices. Technological progress plays a crucial role in attracting both consumers and businesses to replace or upgrade older products with more advanced versions. Digital innovations such as the internet of things (IoT) and modern communication technologies like 5G are expected to support the creation of cutting-edge electronic products. This is anticipated to raise the demand for electronic devices, ultimately contributing to the growth of the electronic equipment manufacturing market during the forecast period.

The expanding manufacturing industry is expected to drive the growth of the electrical equipment market going forward. This industry transforms raw materials into finished goods using various processes that rely on machinery, labor, and technology. The sector is growing due to increasing global demand for products, continuous technological advancements, rising automation, and a greater focus on efficiency and sustainability in production processes. Electrical equipment is vital for powering machinery, managing production operations, ensuring safety, and improving efficiency and automation in manufacturing activities. For example, in September 2024, according to a report published by the National Association of Manufacturers (NAM), value-added output in U.S. manufacturing increased from an annual rate of $2.881 trillion in Q1 to $2.91 trillion in Q2 of 2024. During Q2, manufacturing accounted for 10% of the total value-added output in the U.S. economy. Additionally, real value-added output in the sector rose from $2.337 trillion in Q1 to $2.384 trillion in Q2. Therefore, the growing manufacturing industry is fueling the expansion of the electrical equipment market.

Major companies in the electrical equipment market are introducing technologically advanced products, such as modern wiring devices, to provide safe and reliable electrical connections. Wiring devices are electrical components designed to connect, control, or distribute electrical power within a system, including switches, outlets, plugs, and connectors, ensuring efficient and safe operation in residential, commercial, and industrial environments. For instance, in March 2023, Honeywell International Inc., a U.S.-based industrial goods and machinery company, introduced the Blenze Pro Wiring Devices for the Indian market. This range caters to the premium wiring requirements of architects, interior designers, builders, and developers across residential, commercial, and hospitality projects. Featuring front plates made from high-quality materials such as metal and glass, Blenze Pro Wiring Devices offer a distinctive and refined appearance. These devices also incorporate silent, soft-switch operation and optimal illumination, enhancing both usability and aesthetics.

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.

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 are influencing the electrical equipment market by increasing the cost of imported metals, electronic components, wiring materials and semiconductors, resulting in raised manufacturing expenses across lighting, appliances and power distribution systems. The impact is most significant in regions dependent on imported electrical components including Asia Pacific, Europe and parts of Latin America. These tariffs disrupt supply chains, extend production cycles and increase project installation costs, prompting manufacturers to localize sourcing, redesign components and diversify supplier networks. Positive effects include growth in regional manufacturing capacity and accelerated innovation in cost effective and energy efficient electrical products.

The electrical equipment market research report is one of a series of new reports that provides electrical equipment market statistics, including electrical equipment industry global market size, regional shares, competitors with an electrical equipment market share, detailed electrical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical equipment industry. This electrical equipment 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.

Electrical equipment encompasses products designed for the generation, distribution, and utilization of electrical power. Its primary purpose is to perform tasks by converting and controlling electrical energy, ensuring the protection of systems, property, and individuals.

The key categories of electrical equipment include electric lighting equipment, household appliances, power generation, transmission, and control equipment, as well as batteries, wires, and cables. Home appliances refer to electrical devices facilitating various household functions such as cooking, cleaning, and food storage. These equipment operate through both online and offline modes. Sales channels encompass Original Equipment Manufacturer (OEM) and aftermarket, catering to Business-to-Business (B2B) and Business-to-Consumer (B2C) end users.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. The countries covered in the electrical equipment market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The electrical equipment and component market consists of sales of power converters (i.e., AC to DC and DC to AC), power supplies, surge suppressors, and 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.

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