1 Global Electrical Apparatus Market Size (Revenue) and CAGR (2024-2033)
Global Electrical Apparatus market generated revenue of USD 280066 Million in 2024 with a CAGR of 4.80% during 2024 to 2033.
The current situation of the electrical apparatus market is characterized by a steady growth trajectory. The market has been expanding due to increasing demand from various sectors such as the electricity industry, construction, and automotive industries. The growth is also driven by technological advancements, which are leading to the development of more efficient and intelligent electrical apparatus. For instance, the integration of smart grid technologies is enhancing the performance and reliability of power transformers and other related equipment.
Moreover, the market is witnessing a shift towards more sustainable and environmentally friendly solutions, as there is a growing emphasis on reducing carbon emissions and adopting renewable energy sources. This trend is influencing the design and production of electrical apparatus, with manufacturers focusing on energy-efficient and low-carbon products.
The market is also being shaped by global economic factors and regional developments. For example, the Asia-Pacific region is expected to continue its strong growth due to rapid industrialization and urbanization, which are driving the demand for electrical infrastructure. In contrast, regions like Europe and North America are focusing on upgrading their existing infrastructure and adopting smart technologies to improve efficiency and resilience.
Figure Global Electrical Apparatus Market Size (M USD) Outlook (2024-2033)
2 Electrical Apparatus Industry Trend Analysis
In the forecast year, the global electrical apparatus maintained steady growth, the overall industry income increased and the market competition became increasingly fierce. There are three major trends in this industry.
First, the market demand continues to grow. From the growth rate point of view, the electrical apparatus market has maintained the growth momentum. Thanks to the continuous development of the overall economic situation, the lifestyle brought about by the increase of per capita disposable income is constantly developing in the direction of science and technology and diversification. Therefore, the demand for electricity is getting stronger and stronger, and the sales of electrical apparatus products are also increasing, which has gradually become a necessity for industrial construction and urban construction. In addition, thanks to the development trend of governments promoting new technologies, expanding machinery industry and developing renewable energy, the increasing demand in the downstream market has promoted the sustainable development of the industry.
Secondly, the market competition of electrical apparatus industry is fierce. Enterprises constantly improve distribution channels and supply chains to ensure product quality and gain more market share. The layout of online sales channels has become one of the opportunities for further development of electrical apparatus enterprises. At the same time, due to the continuous maturity of the industry, the product competition among enterprises is becoming increasingly fierce.
Finally, the manufacturing process of the electrical appliance market is constantly innovated to ensure that the products can adapt to a wider range of application scenarios and more demanding application environments. More advanced technology and the application of various materials ensure the improvement of electrical appliance performance.
3 Global Electrical Apparatus Market by Type in 2024
The global electrical apparatus market is a complex and diverse sector, encompassing a range of product types, each with its own unique characteristics and market dynamics. In 2024, the market was segmented into four primary product types: generators, transformers, power lines, and circuit breakers.
Generators are essential components in the electrical apparatus market, designed to convert mechanical energy into electrical energy. In 2024, the generator market was valued at 42,843 million USD, accounting for approximately 15.30% of the total market share. The growth rate of the generator market was steady, reflecting the continuous demand for power generation across various industries, particularly in regions with expanding industrial and infrastructure projects.
Transformers, on the other hand, are devices that transfer electrical energy from one circuit to another through inductive coupling. In 2024, the transformer market was valued at 31,385 million USD, representing 11.21% of the total market share. The growth rate of the transformer market was slightly lower than that of generators, but it remained a significant segment due to the need for efficient power distribution and voltage regulation in both urban and rural areas.
Power lines are the backbone of the electrical grid, responsible for transmitting electricity over long distances. In 2024, the power line market was the largest segment, valued at 183,474 million USD, which constituted 65.51% of the total market share. This dominant position is attributed to the extensive infrastructure required for power transmission and the ongoing investments in grid modernization and expansion. The growth rate of the power line market was robust, driven by the need to upgrade existing networks and accommodate the increasing demand for electricity.
Circuit breakers are protective devices designed to interrupt the flow of electricity in the event of an overload or short circuit. In 2024, the circuit breaker market was valued at 12,882 million USD, accounting for 4.60% of the total market share. The growth rate of the circuit breaker market was relatively high, reflecting the increasing focus on safety and reliability in electrical systems, especially in the context of smart grid technologies and the integration of renewable energy sources.
In summary, the power line segment had the largest market share in 2024, while the circuit breaker segment exhibited the fastest growth rate. This reflects the ongoing need for robust power transmission infrastructure and the increasing emphasis on safety and system protection in the electrical apparatus market.
Table Global Electrical Apparatus Market Size and Share by Type in 2024
Product Type | Market Size (M USD) | Market Share |
|---|---|---|
Generator | 42,843 | 15.30% |
Transformer | 31,385 | 11.21% |
Power Line | 183,474 | 65.51% |
Circuit Breaker | 12,882 | 4.60% |
Others | 9,482 | 3.39% |
Total | 280,066 | 100.00% |
4 Global Electrical Apparatus Market by Application in 2024
In 2024, the market was primarily applied in the electricity industry, construction industry, and automotive industry, among others.
The electricity industry is the largest consumer of electrical apparatus, as it relies heavily on generators, transformers, power lines, and circuit breakers to produce, transmit, and distribute electricity. In 2024, the electricity industry accounted for 164,454 million USD, representing 58.72% of the total market share. The growth rate of the electricity industry was consistent, driven by the increasing demand for electricity and the need to modernize and expand the power grid. This sector’s dominance is due to its critical role in providing power to homes, businesses, and industries.
The construction industry is another significant application area for electrical apparatus, as it requires a wide range of electrical components for building and infrastructure projects. In 2024, the construction industry was valued at 57,325 million USD, accounting for 20.47% of the total market share. The growth rate of the construction industry was robust, reflecting the ongoing urbanization and infrastructure development projects worldwide. The demand for electrical apparatus in construction is driven by the need for reliable power supply and efficient electrical systems in new buildings and infrastructure.
The automotive industry is a growing application area for electrical apparatus, particularly with the rise of electric vehicles (EVs) and the increasing electrification of automotive components. In 2024, the automotive industry was valued at 39,105 million USD, representing 13.96% of the total market share. The growth rate of the automotive industry was the highest among the major applications, driven by the rapid adoption of EVs and the need for advanced electrical systems in modern vehicles. The integration of electrical apparatus in the automotive industry is crucial for enhancing vehicle performance, safety, and efficiency.
In conclusion, the electricity industry had the largest market share in 2024, while the automotive industry exhibited the fastest growth rate. This highlights the critical role of electrical apparatus in powering the modern world and the increasing importance of electrification in the automotive sector.
Table Global Electrical Apparatus Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share |
|---|---|---|
Electricity Industry | 164,454 | 58.72% |
Construction Industry | 57,325 | 20.47% |
Automobile Industry | 39,105 | 13.96% |
Others | 19,182 | 6.85% |
Total | 280,066 | 100.00% |
5 Global Electrical Apparatus Market by Region in 2024
The global electrical apparatus market in 2024 was marked by significant regional variations, with each region contributing uniquely to the overall market dynamics. The market was segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America, each with its own economic, technological, and infrastructural influences.
North America had a market value of 62548 million USD in 2024, representing 22.33% of the global market share. This region’s market was characterized by a mature infrastructure and a focus on technological advancements and efficiency improvements. The United States, Canada, and Mexico contributed to this market, with the U.S. being the largest market within the region. The growth rate in North America was steady, driven by investments in smart grid technologies and the modernization of the electrical infrastructure.
Europe had a market value of 52332 million USD in 2024, accounting for 18.68% of the global market share. Europe’s market was influenced by its strong industrial base and commitment to renewable energy integration. Countries like Germany, the UK, France, Italy, and Spain were key contributors. The region’s growth was driven by the need to upgrade the electrical grid to accommodate renewable energy sources and improve energy efficiency. The European market also benefited from policies promoting sustainability and innovation.
Asia-Pacific was the largest regional market in 2024, with a value of 129949 million USD, representing 46.41% of the global market share. This region’s market was driven by rapid industrialization, urbanization, and economic growth. China, Japan, South Korea, India, and Southeast Asia were the major contributors. China alone accounted for a significant portion of the region’s market value, driven by its extensive infrastructure projects and industrial expansion. The growth rate in Asia-Pacific was robust, reflecting the region’s dynamic economic environment and the increasing demand for electrical apparatus to support its growing industries and cities.
Middle East & Africa had a market value of 16722 million USD in 2024, accounting for 5.97% of the global market share. This region’s market was influenced by its rich natural resources, particularly in oil and gas, and the growing demand for electricity in emerging economies. Saudi Arabia, the UAE, and South Africa were key markets. The growth rate in this region was moderate, driven by investments in power generation and transmission infrastructure to meet the increasing energy demands.
South America had a market value of 18515 million USD in 2024, representing 6.61% of the global market share. Brazil was the largest market in the region, followed by other countries like Argentina and Colombia. The region’s growth was driven by the need to expand and modernize its electrical infrastructure to support economic development and urbanization. The growth rate in South America was relatively high, reflecting the region’s efforts to improve its electrical apparatus market.
In summary, the Asia-Pacific region was the largest market by revenue in 2024, while South America was the fastest-growing region. This reflects the dynamic economic development in Asia-Pacific and the significant infrastructure investments in South America.
Table Global Electrical Apparatus Market Sales, Region Wise in 2024
Region | Market Size (M USD) | Market Share |
|---|---|---|
North America | 62548 | 22.33% |
Europe | 52332 | 18.68% |
Asia-Pacific | 129949 | 46.41% |
Middle East & Africa | 16722 | 5.97% |
South America | 18515 | 6.61% |
Total | 280,066 | 100.00% |
Figure Global Electrical Apparatus Market Revenue Share by Region in 2024
6 Global Electrical Apparatus Market Top 3 Players
Company Introduction and Business Overview: ABB is a leading global technology company founded in 1988. It is headquartered in Zurich, Switzerland, and operates in over 100 countries. ABB’s mission is to energize the transformation of society and industry to achieve a more productive and sustainable future. The company connects software to its electrification, robotics, automation, and motion portfolio, pushing the boundaries of technology to drive performance to new levels.
Products Offered: ABB offers a wide range of electrical apparatus products, including power transformers, generators, circuit breakers, and other electrical components. Its power transformers are designed to provide reliability, durability, and efficiency in utility, industrial, and commercial applications. ABB’s generators are known for their high efficiency and reliability, making them suitable for various power generation needs.
Revenue in 2021: In 2021, ABB’s revenue in the electrical apparatus market was 4,161 million USD, with a gross margin of 32.42%.
Company Introduction and Business Overview: Siemens is a global powerhouse founded in 1847, with its headquarters in Munich, Germany. The company focuses on electrification, automation, and digitalization. Siemens is one of the world’s largest producers of energy-efficient, resource-saving technologies and is a leading supplier of systems for power generation and transmission, as well as medical diagnosis. Siemens plays a pioneering role in infrastructure and industry solutions.
Products Offered: Siemens offers a comprehensive range of electrical apparatus products, including reliable generators, transformers, and circuit breakers. Its generators range from 0.3 to 2,235 MVA, suitable for various applications such as ships, oil platforms, industrial plants, and renewable energy projects. Siemens’ transformers are designed to meet the highest quality standards, ensuring enduring reliability and efficiency.
Revenue in 2021: In 2021, Siemens’ revenue in the electrical apparatus market was 3,534 million USD, with a gross margin of 25.32%.
Company Introduction and Business Overview: Schneider Electric is a French company founded in 1836, with its headquarters in Rueil-Malmaison, France. The company is a global leader in energy management and automation, helping customers manage their electrical systems more efficiently and sustainably. Schneider Electric’s mission is to help people make the most of their energy and resources, bridging progress and sustainability for all.
Products Offered: Schneider Electric offers a wide range of electrical apparatus products, including circuit breakers, power distribution systems, and energy management solutions. Its circuit breakers are designed to provide safe power distribution and protection against electrical fires. Schneider Electric’s power distribution systems are known for their reliability and efficiency, making them suitable for various industrial and commercial applications.
Revenue in 2021: In 2021, Schneider Electric’s revenue in the electrical apparatus market was 2,619 million USD, with a gross margin of 29.84%.
Table Global Electrical Apparatus Revenue of Top3 Players in 2021
Company | Revenue (M USD) |
ABB | 4161 |
SIEMENS | 3534 |
Schneider Electric | 2619 |