Luton, Bedfordshire, United Kingdom, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Electrical Equipment market.The global Electrical Equipment Market size is estimated at USD 1315.8 billion in 2020 and is projected to reach USD 3393.5 billion by 2029, at a CAGR of 11.1% for the forecasted years 2022 to 2029.
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.
Electric lighting equipment, home appliances, power generation, transmission, and control equipment, batteries, and wires and cables are the primary categories of electrical equipment. Electrical devices known as home appliances help with chores around the house like cooking, cleaning, and food storage. Both online and offline modes are available for operating the apparatus. Both B2B and B2C end consumers use the OEM and aftermarket as some of the several sales channels.
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The electrical equipment market's largest region in 2021 was Asia Pacific. The market for electrical equipment's second-largest region was Western Europe. The smallest region in the world market for electrical equipment was Africa. regions covered in the electrical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Industry Insights:
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group consists of several divisions including Power Products, Power Systems, Discrete Automation and Motion, Low Voltage Products, and Process Automation.
Sumitomo Electric Industries Ltd (Sumitomo) is a developer, producer, marketer and distributor of products related to electronics, info-communications, automotive, industrial materials, and environment and energy.
As a part of Electrical Equipment market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2020-2021 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2029 |
| Regions Covered |
|
| By Type/function |
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| By Application |
|
| CAGR (XX%) | 11.1 % (Current Market Analysis) |
| Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
| Delivery Format | PDF, and Excel through Email |
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Reasons for Buying Electrical Equipment Market
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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