According to the report by Expert Market Research (EMR), the global electrical equipment market attained a value of USD 1460.81 billion in 2025. Driven by rapid industrialisation, urbanisation, and the increasing adoption of electrical infrastructure across residential, commercial, and industrial sectors, the market is projected to grow at a CAGR of 6.80% between 2026 and 2035, reaching a value of USD 2820.37 billion by 2035. Electrical equipment encompasses a broad range of devices and systems, including switchgear, transformers, motors, generators, wiring devices, and control systems, which are essential for power generation, transmission, distribution, and end-use applications.

Electrical Equipment Market Trends

The electrical equipment market is witnessing several key trends. The transition toward renewable energy and smart grids is driving demand for advanced electrical equipment, particularly smart meters, energy-efficient transformers, and automated switchgear systems. In addition, the integration of Internet of Things (IoT) and Industrial 4.0 technologies is accelerating the adoption of connected electrical devices, enabling real-time monitoring, predictive maintenance, and enhanced operational efficiency.

Sustainability and energy efficiency are emerging as major trends, with companies investing in low-loss transformers, variable frequency drives (VFDs), and eco-friendly electrical components. The rise of electric vehicles (EVs) and associated charging infrastructure is also influencing the demand for electrical equipment, as manufacturers seek reliable solutions for EV power management and distribution.

Drivers of Growth

The market growth is primarily driven by increasing global electricity demand, driven by population growth, industrial expansion, and urban development. The rise of smart cities and the need for modernised electrical infrastructure have led to heightened investments in advanced electrical equipment.

Additionally, the global shift toward renewable energy sources such as solar, wind, and hydroelectric power is driving demand for transformers, inverters, switchgear, and other equipment designed to integrate intermittent energy sources into power grids. Governments worldwide are incentivising the adoption of energy-efficient and low-carbon technologies, further propelling market growth.

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Electrical Equipment Market Forecast

The global electrical equipment market is expected to expand steadily during the forecast period of 2026–2035, growing from USD 1460.81 billion in 2025 to USD 2820.37 billion by 2035 at a CAGR of 6.80%. The market will continue to benefit from the ongoing demand for energy-efficient solutions, smart grid infrastructure, and renewable energy integration. Manufacturers focusing on innovation, sustainability, and digitalisation are well-positioned to capitalise on the robust growth trajectory of the global electrical equipment market.