General Electrical Equipment and Components Market: Analysis of Future Demand and Leading Key Players through 2030

The Business Research Company

The Business Research Company’s General Electrical Equipment and Components Global Market Report 2026 – Market Size, Trends, And Forecast 2026-2035

LONDON, GREATER LONDON, UNITED KINGDOM, January 31, 2026 /EINPresswire.com/ -- The general electrical equipment and components market is witnessing notable growth fueled by various industrial and technological developments. As the world increasingly embraces automation and renewable energy, this sector is set to experience dynamic changes and expansion. Let’s explore the current market size, growth drivers, key segments, and regional trends shaping its trajectory through 2026 and beyond.

Steady Expansion in the General Electrical Equipment and Components Market Size
In recent years, the general electrical equipment and components market has experienced robust growth. It is projected to increase from $90.44 billion in 2025 to $95.21 billion in 2026, registering a compound annual growth rate (CAGR) of 5.3%. This historic growth has largely been supported by factors such as expanding industrialization, the development of residential infrastructure, widespread use of conventional automation systems, rising demand for electrical safety devices, and the flourishing small and medium enterprise sector.

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Projected Future Growth and Emerging Trends in the Market
Looking ahead, the market is expected to maintain strong momentum, reaching $121.08 billion by 2030 at a CAGR of 6.2%. Several key trends are driving this forecasted growth, including the integration of renewable energy systems, adoption of smart infrastructure, increasing demand for IoT-enabled devices, growth in electric mobility, and a shift towards energy-efficient industrial automation. Innovations like smart grid integration, predictive maintenance, modular electrical systems, and advanced safety solutions are also anticipated to reshape the market landscape.

Defining General Electrical Equipment and Components
General electrical equipment and components encompass a wide range of devices, machinery, and parts that play essential roles in generating, distributing, controlling, and utilizing electrical power. These components are critical for both industrial and residential electrical setups, ensuring systems operate safely and efficiently. They enable the functioning of various appliances and infrastructures, supporting everyday electrical needs across multiple sectors.

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Renewable Energy’s Role in Accelerating Market Growth
One of the primary factors propelling growth in the general electrical equipment market is the increasing adoption of renewable energy sources. These sources—such as solar, wind, water, and biomass—are naturally replenished and offer sustainable alternatives to fossil fuels. The shift towards renewables is driven by the urgent need to reduce greenhouse gas emissions and combat climate change. By providing a cleaner, stable, and cost-effective power supply, renewable energy supports the development and efficiency of electrical equipment. For example, in 2023, renewable energy accounted for 24.5% of total energy consumption in the EU, up from 23.0% in 2022, according to Eurostat. This growing emphasis on eco-friendly energy solutions is expected to strongly influence demand for sustainable electrical components through the forecast period.

Additional Factors Fueling Market Demand
Beyond renewables, other drivers include advancements in smart infrastructure and IoT technology, which require more sophisticated electrical equipment. The increasing focus on electric mobility, such as electric vehicles, also boosts demand for components that support efficient energy use and safety. Furthermore, industries are moving toward more energy-efficient automation systems, which rely heavily on modern electrical equipment for reliable operation.

Regional Market Overview for General Electrical Equipment and Components
In 2025, Asia-Pacific emerged as the largest regional market for general electrical equipment and components, reflecting rapid industrial growth and infrastructure development. North America holds the position as the second-largest market, supported by strong technological adoption and investments. The overall market analysis encompasses regions including Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing a global perspective on evolving demand and opportunities.

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