The Business Research Company’s Electrical Equipment Manufacturing Global Market Report, covers the year-on-year growth of the global electrical equipment manufacturing market historic and forecast growth. It also includes chapters on the electrical equipment manufacturing market trends, geographical analysis, and competitive landscape.
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The global electrical equipment manufacturing market size is expected to reach $1.7 trillion by 2022, significantly growing at a CAGR of around 4.9% during the forecast period.
Electrical Equipment Manufacturing Market Trends
The electrical equipment manufacturing market consists of sales of electrical and electronics by entities (organizations, sole traders and partnerships) that produce electrical and electronics. These include semiconductors, audio and video equipment and other electronic components.
The household appliance manufacturers are integrating their products with the IoT technology to make customers lives comfortable and convenient. Internet of Things technology is the interconnectivity of physical objects and devices that are integrated with sensors and software that allow them to exchange and collect data. Major technologies enabling smart household appliances include Wi-Fi, Bluetooth Low Energy, micro server and micro-electromechanical systems. For instance, LG has created homechat, an app that enables the user to monitor their refrigerators, cookers, washing machines and other devices from anywhere through their smart phones. The homechat technology was introduced by LG initially in South Korea and is moving to other global markets gradually.
The global electrical equipment manufacturing market is primarily driven by favorable government policies rapid urbanization, rising disposable income.
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The global electrical equipment manufacturing market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increased global economic activity, increasing urban population, strong economic growth and rising disposable income in emerging markets, improving economic growth, the global electrical equipment manufacturing market is expected to increase in potential and scope. TBRC’s report also covers the electrical equipment manufacturing drivers and restraints in the market.
The global electrical equipment manufacturing market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global electrical equipment manufacturing market report are Panasonic Corporation, Samsung Electronics, And ABB Ltd.
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