Global General Electrical Equipment and Components Market Report by The Business Research Company 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UNITED KINGDOM, June 13, 2022 /EINPresswire.com/ — According to “General Electrical Equipment And Components Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026” published by The Business Research Company , The general electrical equipment and components market size is expected to grow from USD 69.41 billion in 2021 to USD 71.74 billion in 2022 at a compound annual growth rate (CAGR) of 3.4%. The growth of the market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and closure of business activities which resulted in operational challenges. According to TBRC’s General Electrical Equipment and Components Market Research, the market is expected to reach $75.39 billion in 2026 with a CAGR of 0.6%. IoT is having a positive impact on electrical equipment sales and contributing to the growth of the general electrical equipment and components market.
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The general electrical equipment and components market includes sales of general electrical equipment and components by entities (organizations, sole traders, and partnerships) that manufacture general electrical equipment and components. General electrical equipment and components consist of power converters (i.e. AC to DC and DC to AC), power supplies, surge suppressors, among others.
Global General Electrical Equipment and Components Market Trends
Consumers are increasingly adopting tools and devices equipped with smart technology because they maximize safety, increase energy efficiency, improve device functionality, are more convenient and flexible. The demand for smart homes and office spaces is increasing day by day. The innovation, adoption and deployment of new technologies in various electrical equipment is making the world smarter. High-end tech devices are easy to use and make regular business run smoothly, encouraging businesses to meet those needs.
Global General Electrical Equipment and Components Market Segments
The global general electrical equipment and components market is segmented:
By mode: online, offline
By sales channel: OEM, aftermarket
By End User: Commercial, Residential
By Geography: The global general electrical equipment and components market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East & Africa. Among these regions, Asia-Pacific accounts for the largest share.
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The Global General Electrical Equipment and Components Market Report 2022 is part of a series of new reports by The Business Research Company that provides General Electrical Equipment and Components Market Overviews, General Electrical Equipment and Components Market Analysis and market size and growth forecasts for global general electrical equipment. General Electrical Equipment and Components Market, General Electrical Equipment and Components Market Share, General Electrical Equipment and Components Market Segments and Geographies, General Electrical Equipment and Components Market Trends, General Electrical Equipment and Components Market Players , General Electrical Equipment and Components Market Top Competitors Revenues, Profiles and Market Shares. The General Electrical Equipment and Components Market report identifies key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
TBRC General Electrical Equipment and Components Market Report 2022 includes insights into the following:
Data segmentation: market size, global, by region and country, historical and forecast, and growth rate for 60 geographies
Major Market Players: Panasonic Corporation, Samsung Electronics Co Ltd, ABB Ltd, Sumitomo Electric Industries Ltd, Toshiba Corporation, Eaton, Emerson Electric, Schneider Electric, Siemens, Wix.com Inc and Automattic Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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About the Business Research Company
The Business Research Company has published over 1,000 industry reports covering over 2,500 market segments and 60 geographies. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. Reports are updated with detailed analysis of the impact of COVID-19 on various markets.
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