The Power Equipment Market size is estimated at USD 31.62 billion in 2024, and is expected to reach USD 40.10 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
The global power equipment market is semi-consolidted. Some of the key players in this market (in no particular order) are General Electric Company, Schneider SE, ABB Ltd., Eaton Corporation, and Siemens AG, among others.
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