Global Electrical And Electronics Market To Reach $5584.89 Billion By 2029 With A Growth Rate Of 7.0%

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The Business Research Company’s Electrical And Electronics Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, June 25, 2025 /EINPresswire.com/ -- The electrical and electronics market size has seen healthy growth over recent years, and this growth trajectory is expected to continue. The market size rose from $3951.27 billion in 2024 to a projected $4262.41 billion in 2025 at a compound annual growth rate CAGR of 7.9%. This impressive growth can be attributed to several key factors such as an increase in consumer electronics demand, globalization of supply chains, trade policies and tariffs, miniaturization of devices, and energy efficiency concerns.

What Can We Anticipate For The Future Growth Of The Electrical And Electronics Market?
The outlook remains positive with the electrical and electronics market size expected to see substantial growth in the next few years, escalating to $5584.89 billion in 2029 at a compound annual growth rate CAGR of 7.0%. The predicted growth during the forecast period can be linked to developments in renewable energy integration, environmental sustainability goals, cybersecurity concerns, e-waste management, flexible electronics, and quantum computing. Other major trends that will influence this market include internet of things IoT integration, edge computing, robotics, and automation, artificial intelligence AI, and smart manufacturing.

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How Are Technological Advancements Driving This Growth Of Electrical And Electronics Market?
The rapid pace of technological innovations in electronics is stimulating consistent demand for newer and more efficient electrical and electronics market products. Technological development continues to attract consumers and businesses alike, enticing them to replace or upgrade their older products with advanced versions. Innovation in digital technologies such as the internet of things IoT and the latest communication technologies like 5G are predicted to aid in the creation of innovative electronic products. This surge in demand for electronic products is expected to drive the growth of the electronic equipment manufacturing market during the forecast period.

Which Industry Players Catalyse This Global Electrical And Electronics Market 'S Immense Growth?
Leading companies operating in the electrical and electronics market include General Electric Company, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Koninklijke Philips N.V., Black & Decker Corporation, Electrolux AB, Tefal S.A.S., Maytag Corporation, SharkNinja Operating LLC, De'Longhi SpA, Conair Corporation, Morphy Richards Ltd., Breville Group Limited, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Hamilton Beach Brands Inc., among others. These industry titans have greatly contributed to market growth.

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What Are The Latest Trends In The Electrical And Electronics Market?
Today, electrical and electronics market industry giants are prioritizing innovative product launches, such as the advent of cloud-native software, to provide reliable services to their customer base. For instance, in October 2022, Germany-based electrical and electronics products manufacturer, Siemens AG, launched a new cloud-native electrical design software. This software-as-a-service targets small to medium-sized firms, offering flexibility, efficiency, and collaborative capabilities – all crucial features for the ever-evolving field of electrical and electronic product design. It fosters faster innovation, improved collaboration, and enhanced design quality. Accessed via any device for a modest monthly fee, this browser-based solution enables designers and engineers to swiftly and effortlessly develop electrical diagrams.

How Is The Electrical And Electronics Market Segmented?
The electrical and electronics market covered in this report have been segmented into distinct categories:
1 By Type: Electrical Equipment, Measuring And Control Instruments, Electronic Products
2 By Mode: Online, Offline
3 By Sales Channel: OEM, After market
4 By End-Use: B2B, B2C

Subsegments of these categories include:
1 By Electrical Equipment: Switchgear, transformers, Circuit Breakers, Relays, Distribution Boards
2 By Measuring And Control Instruments: Multimeters, Oscilloscopes, Analyzers, Pressure Sensors, Temperature Sensors
3 By Electronic Products: Consumer Electronics, Industrial Electronics

What Are The Key Regional Insights Into The Electrical And Electronics Market?
Asia-Pacific was the largest region in the electrical and electronics market in 2024, with North America ranking as the second largest. The regions covered in the market report span across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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