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Electrical Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Electrical Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Electrical equipment is used for various machines powered by electricity. Electrical equipment includes different machinery, specialized systems, and cables to be supplied with electricity. The market includes sales of products that generate and distribute electrical power. Moreover, it refers to the individual components of an electrical distribution system such as electricity meter, transformers, circuit breakers, and distribution boards.
The global electrical equipment market is segmented on the basis of various characteristics. By product type, the market is segmented into wiring devices, batteries & accumulators, electronic & electrical wires, and cables. The demand for energy is increasing from the residential and nonresidential users; both the segment contributes largely in the growth of electrical equipment market. Installation of the electrical devices such as ventilators, lighting system, air conditioners, and fire protection majorly augmented the growth of the market. Furthermore, rapid modernization in the electric grid is fueling the demand for electrical equipment. By region, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa contributing largely in the electrical equipment market growth.
Scope of the market
Report Metric | Details |
Market size available for years | 2019-2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Product, Application, End User, and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa |
Companies covered | Monbat,Fincom-2,incotex Group, Legrand, Hellenic Cables, Samel, Emka, Octa light, ABB, Legrand, Gamakabel, Datecs, and Solar LED Powers |
COVID-19 impact analysis
- Owing to the suspension of work in industries, the electrical equipment market is likely to witness a temporary downfall.
- More than 60% of the electric motors are on halt during the pandemic, which is anticipated to impact the usage rate of electrical equipment.
- lications may cause a decline during the forecast period. Furthermore, the suspended movement of activities such as functioning of heavy machines with the suspension of production app
- Moreover, insufficiency in raw material supply is anticipated to hamper the production rate, thus affecting the market growth.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Technological advancement in electrical equipment acts as the major driver of the electrical equipment market. Electric meters are crucial for analyzing the total power transmitted and consumed across various applications, which significantly contribute toward the growth of the global market. Furthermore, the trend for electric vehicles is growing significantly and emerging toward the transportation electric fuels vehicles. Countries such as Mexico, India, and America are largely benefited from the established power distribution channels. Furthermore, high frequency of operation for electrical equipment is expected to boost the market growth during the analysis period.
The growth of the global market is further driven by the expansion of the commercial, industrial, residential, and nonresidential sectors. Furthermore, increase in consumption of electrical equipment in applications such as building & construction, power transmission & power distribution, and mining boosts the growth of the global market.
Key segments covered
Segment | Subsegment | |
By Product |
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By End User |
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By Applications |
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By Region |
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Key market players
The key players operating in the global electrical equipment market include Monbat,Fincom-2,incotex Group, Legrand, Hellenic Cables, Samel, Emka, Octa light, ABB, Legrand, Gamakabel, Datecs, and Solar LED Powers. These companies are involved in the basic IT and electronic materials manufacturing along with battery materials for industrial, commercial, and consumer use. Production capacity expansion was the major step taken in recent developments to produce high-performance electrical equipment.
Key benefits of the report
- This study presents the analytical depiction of the global electrical equipment market industry along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the global electrical equipment battery market.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
- The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
- This report helps users in comprehending the key product segments and their future.
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
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- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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