Industry Background:
Electric apparatus are those type of apparatus which mainly includes junction boxes, fuses, cut-outs, motors, starters, lamps, switches, any other appliance, equipment or fitting that operates electricity. Increasing usage of electric apparatus in various application such as the electronics industry, construction industry, automobile industry, and others are some of the major factors which affect the growth of the market in the future. However, rising demand from emerging economies such as china and India is expected to create new opportunism for market expansion.
According to AMA Research, the market for Electrical Apparatus is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by Growing Demand for Electrical Apparatus from Application Such as Electronics Industry and Construction Industry
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Heavy Electrical Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as ABB (Switzerland), Emerson Network Power (United States), Schneider Shanghai Industrial Control Co (China), GE Power Control SP (Poland), Rockwell Automation, Inc. (United States), Siemens AG (Germany), Honeywell International Inc. (United States), Eaton Corporation Inc. (Ireland), The 3M Company (United States), Leviton Manufacturing Company, Inc. (United States) and Caterpillar Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2023, the electrical equipment and solutions supplier HPL Electric & Power Ltd. (HPL) has successfully acquired smart meter orders for Rs 903 crore (tax included). The business stated that these orders increase HPL's overall order book to Rs 2,250 crore, which is the amount of pending pipeline orders.The electrical apparatus market is highly fragmented in nature with a large number of international as well as regional players operating in the market.
Influencing Trend:
Increasing Focus on Connected Cities in Developing Regions
Market Growth Drivers:
Growing Demand for Electrical Apparatus from Application Such as Electronics Industry and Construction Industry and Rising Electrical Network Expenditure Globally
Challenges:
A problem regarding the Presence of a Large Number of Local and Regional Players
Restraints:
Issue related to Price Competitiveness in the Market and Seal Leakage Problems in Electric Enclosures
Opportunities:
Growing Demand for HVDC Transmission Worldwide, Rising Demand from Emerging Economics such as China, India, Brazil, among others and Government Initiatives to Expand the Electrical Apparatus Market and Rising Importance of Customer Services
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Electrical Apparatus Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Electrical Apparatus Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Electrical Apparatus players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Electrical Apparatus Study Sheds Light on
The Electrical Apparatus Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electrical Apparatus industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electrical Apparatus industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.