Global Electrical Apparatus Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electrical Apparatus Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Electrical apparatus mainly refers to power generation, transmission, distribution and control equipment. Electrical apparatus mainly includes generators, transformers, power lines, circuit breakers and other equipment. Electrical apparatus is used in electric power, automobile, construction and other industries.

Market Overview:

The latest research study on the global Electrical Apparatus market finds that the global Electrical Apparatus market reached a value of USD 243113.44 million in 2022. It’s expected that the market will achieve USD 347408.91 million by 2028, exhibiting a CAGR of 6.13% during the forecast period.

The outbreak of covid -19 affected the normal operation of the industry

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on the electrical apparatus industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust.

In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for electrical apparatus production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest-hit areas is greatly affected.
If the epidemic continues, hard expenses such as staff salary and office rent may bring down enterprises. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw materials.

Impact on Industry Competition

COVID-19 has a certain impact on the operation of the electrical apparatus industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt.
The epidemic may cause some small and medium-sized enterprises to withdraw from the market, thus increasing market concentration. Large enterprises with high anti-risk abilities and good responses to the epidemic situations will occupy more market share. Some small enterprises may be merged and acquired.

Social Factors

Changes in social factors have affected people's views and acceptance of products.
From the perspective of the social environment, the influence of the population environment cannot be ignored. Generally speaking, the population size affects the market capacity of a regional market to a certain extent. For example, the huge population base of the Asia-Pacific market determines its large market capacity.
The world population continues to grow, but the growth rate is slowing down. For some countries, the population is still growing rapidly, mainly in sub-Saharan Africa. But in some countries, the population has begun to decrease. With the declining fertility rate and increasing average life expectancy around the world, a common global trend is that the world population is aging. The aging population directly leads to the reduction of labor supply, and the potential economic growth rate is facing downward pressure. It is necessary to improve the quality of the existing labor force, support high-quality economic development with high-quality human resources, and hedge the adverse effects caused by the reduction of the labor force.

Technological Factors

The technological development of industry and commerce in the world and the great changes in the competitive pattern of industrial industries will surely drive the development of industrial equipment in the future. Increasingly tight energy consumption and the continuous advancement of global industrialization have brought stable growth prospects and development space for the electrical apparatus market.
At present, thanks to the deepening of smart grid construction, the demand for smart transformers is gradually increasing, and the research and development and production of smart transformers will become one of the trends of transformer industry development. In the future, intelligent transformers will continue to be optimized and upgraded, from single-function transformers to multi-function combined transformers. From traditional coil transformers to intelligent transformers using power electronics technology. In future substation construction, each link will be subject to more stringent environmental assessment constraints. Therefore, the development of transformers will pay more attention to environmental protection.

Region Overview:

In 2021, the share of the Electrical Apparatus market in Asia-Pacific stood at 45.57%.

Company Overview:

ABB is one of the major players operating in the Electrical Apparatus market, holding a share of 1.82% in 2021.

ABB

ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.

SIEMENS

Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the worlds largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role.

Segmentation Overview:

As for product types, the Power Line segment held the largest market share in 2021.

Application Overview:

The market's largest segment by application is the segment Electricity Industry, with a market share of 59.35% in 2021.

Key Companies in the global Electrical Apparatus market covered in Chapter 3:

SIEMENS
Eaton
Rockwell Automation
TDK Corporation
Phoenix
Honeywell
CHINT
ABB
Leviton
Molex
GE Power
Schneider Electric
3M
LONCIN MOTOR CO., LTD.
BST

In Chapter 4 and Chapter 14.2, on the basis of types, the Electrical Apparatus market from 2018 to 2029 is primarily split into:

Generator
Transformer
Power Line
Circuit Breaker
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electrical Apparatus market from 2018 to 2029 covers:

Electronics Industry
Construction Industry
Automobile Industry
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)