Global Electronic Products market size is expected to reach $2037.84 billion by 2029 at 7.9%, segmented as by type, audio and video equipment, semiconductor and other electronic component

Nigeria Electronic Equipment Repair Market was valued at USD 785.84 Million in 2024 and is expected to reach USD 1,126.04 Million by 2030 with a CAGR of 6.02% during the forecast period.

Access Europe Electronic Equipment Repair Service Industry Overview which includes Europe country analysis of (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe), market split by Product Types, Service Type, End Use, Repairing Platform

The global number of users in the 'Consumer Electronics' segment of the electronics e-commerce market was forecast to continuously increase between 2024 and 2029 by in total *** billion users (+***** percent). After the ***** consecutive increasing year, the indicator is estimated to reach **** billion users and therefore a new peak in 2029. Notably, the number of users of the 'Consumer Electronics' segment of the electronics e-commerce market was continuously increasing over the past years.Find further information concerning the ARPU in the 'Household Appliances' segment of the electronics e-commerce market in Austria and the ARPU in the 'Consumer Electronics' segment of the electronics e-commerce market in Uruguay. The Statista Market Insights cover a broad range of additional markets.

Huge volumes of electronic or electrical equipment (EEE) are placed on the market (POM) every year around the world. More than ******* tons of EEE were POM in Argentina in 2019. The collection rate of e-waste in Argentina in that year was just four percent.

The electronics & smart devices market size was over USD 830.05 billion in 2024 and is poised to exceed USD 2.05 trillion by 2037, witnessing over 7.2% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific industry is predicted to hold largest revenue share of 34% by 2037, impelled by surge in the demand of smartphones and the availability of wireless solutions in the region.

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India Electrical Equipment Market Size 2025-2029

The India electrical equipment market size is forecast to increase by USD 95.31 billion, at a CAGR of 15.6% between 2024 and 2029.

The Electrical Equipment Market in India is experiencing significant growth, driven by the increasing number of residential and commercial building projects worldwide. This trend is fueled by urbanization and infrastructure development, particularly in emerging economies. Additionally, the growth in cross-border electricity trading is expanding market opportunities for electrical equipment manufacturers. However, regulatory hurdles impact adoption, as stringent safety and environmental regulations necessitate costly compliance. However, the market faces challenges, including the threat from cyberattacks in the power generation industry and the need for modernization of the electric power grid and electrical meters.
Companies must invest in robust cybersecurity measures to mitigate these risks and protect their market position. To capitalize on market opportunities and navigate challenges effectively, electrical equipment manufacturers must focus on innovation, regulatory compliance, and supply chain resilience. A significant challenge facing the market is the increasing threat from cyberattacks in the power generation industry. As the electrical grid becomes more digitized, the risk of cyberattacks targeting critical infrastructure increases. Batteries and accumulators are gaining popularity in India due to the increasing adoption of renewable energy sources and electric vehicles.

What will be the size of the India Electrical Equipment Market during the forecast period?

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The electrical equipment market is witnessing significant advancements, driven by the integration of digital technologies such as cloud computing and artificial intelligence (AI) into power systems. Energy consumption analysis is a key focus, with power analyzers and energy management software enabling real-time monitoring and optimization of single-phase and three-phase power. Low-voltage equipment, including voltage regulators and frequency converters, is being enhanced with predictive analytics to improve efficiency ratings and reduce carbon footprint. Digital twins are revolutionizing industrial processes by simulating electrical systems using electrical simulation software, enabling power system optimization and fault analysis. Thermal imaging cameras and electrical testing equipment are essential tools for electrical safety training and maintenance, ensuring compliance with safety standards.
High-voltage equipment, including transformers and circuit breakers, is being modernized with smart grid technologies, enabling remote monitoring, power system control, and grid modernization. Power quality monitoring and smart meters are essential components of building automation systems, enhancing energy efficiency and reducing operational costs. Power system protection and industrial control systems are being upgraded with advanced features, including power factor correction, harmonics analysis, and power system protection. Direct current (DC) and alternating current (AC) systems are being integrated, requiring electrical safety equipment and power system simulation software to ensure reliable and efficient operations. Overall, the electrical equipment market is evolving rapidly, with a focus on improving efficiency, reducing carbon footprint, and enhancing safety and reliability through digital technologies and advanced engineering solutions.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Cables and wires
  Transmission lines
  Transformers
  Switchgears
  Others


Application

  Transmission and distribution
  Generation


Distribution Channel

  Direct sales
  Distributors and dealers
  Online platforms
  Retail stores


Geography

  APAC

    India

By Product Insights

The cables and wires segment is estimated to witness significant growth during the forecast period. The electrical equipment market encompasses various segments, including power electronics, fault protection, frequency control, power factor correction, and renewable energy, among others. The integration of smart grids and building management systems, driven by data analytics and standards compliance, is a significant trend. Power generation, infrastructure development, and demand response programs are also key areas of growth. In the context of renewable energy, distributed generation from solar and wind sources is gaining momentum. Industrial automation, energy efficiency, and predictive maintenance are crucial aspects of electrical infrastructure. Transmissio

According to Cognitive Market Research, the Global electronic equipment repair market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031. Market Dynamic: Electronic Equipment Repair Service

Key Drivers-

The rise in the use of automated systems drives the market of electronic equipment repair services market-

Due to changing lifestyles and an increase in disposable income demand for electronic devices such as cell phones, TVs, air conditioners, and laptop computers has increased. The growth in the usage of automated electronic equipment in various industries is anticipated to boost the demand for electronic equipment repair services in the industrial electronic repair sector. Consumers are increasingly reliant on these devices for both personal and professional purposes, making the quick and efficient repair of such gadgets crucial. For instance- Samsung launched a Self-Repair Program in Brazil and Mexico, This initiative aims to empower consumers who want to keep their devices longer, offering another repair option. (source:https://www.samsungmobilepress.com/press-releases/samsung-self-repair-program-officially-launched-in-brazil-and-mexico/) Hence, the market for electronic equipment repair services is growing with the rise in demand for automated systems.

Growing environmental awareness and government support driving the market-

Consumers are becoming more conscious of the environmental effects of electronic waste and the significance of repairing and reusing equipment rather than discarding them. This opens up a market for repair services that provide ecologically responsible solutions. Repairing electronic devices not only reduces the environmental footprints associated with manufacturing new products but also extends the lifespan of existing devices. Awareness about e-waste and its harmful effects in promoted the government to make efforts and focus on “right to repair law”. For instance- Gov. Polis Signs a Bill Mandating That Consumers Have More Options To Fix Electronics. (source:https://coloradotimesrecorder.com/2024/05/gov-polis-signs-bill-mandating-that-consumers-have-more-options-to-fix-electronics/62156/) For instance- New EU rules encourage consumers to repair devices over replacing them. According to a European Commission study, 77% of EU citizens would prefer repair to buy new goods. (source:https://www.europarl.europa.eu/news/en/press-room/20231117IPR12211/new-eu-rules-encouraging-consumers-to-repair-devices-over-replacing-them) Hence, the government is concerned about environmental hazards and e-waste that helps to drive the market of global electronic equipment repair services.

Restraint-

Poor quality or duplicate spare parts of electronic equipment is a major issue in electronic equipment repair service market-

The use of low-quality or duplicate spare parts in electronic equipment repairs poses a significant threat to the electronic equipment repair sector. Although these components are less expensive than genuine ones, they frequently fail to satisfy the same quality and performance criteria. Poor quality parts may fail early, requiring extra repairs or possibly gadget failure. Many companies are launching their campaign to promote original spare parts. For instance- Apple to expand repair options with support for used genuine parts genuine Apple parts will now benefit from the full functionality and security afforded by the original factory calibration, just like new genuine Apple parts. (source:https://www.apple.com/newsroom/2024/04/apple-to-expand-repair-options-with-support-for-used-genuine-parts/) For instance- Fake spare parts were supplied to fix top-selling jet engine. European aviation regulators have determined that an obscure London-based company supplied fake parts for repairs of jet engines that power many older-generation Airbus A320 and Boeing 737 planes. (source:https://www.japantimes.co.jp/business/2023/09/01/companies/fake-parts-boeing-airbus/) Hence, Buying duplicate spare parts is a false economy, as using them may cost you more in the long run. But, more significantly, fake spare parts can result in significant safety issues that can lead to accidents. Also, duplicate auto spare parts impact the brand, and automobile industry.

Opportunities-

Rising demand for E-Waste management solutio...

The global electronic assembly equipment market is experiencing robust growth, driven by the increasing demand for consumer electronics, automotive electronics, and aerospace components. The market, valued at approximately $15 billion in 2025, is projected to exhibit a compound annual growth rate (CAGR) of 6% from 2025 to 2033, reaching an estimated $25 billion by 2033. This expansion is fueled by several key factors, including the miniaturization of electronic components, the rising adoption of automation in manufacturing processes, and the increasing complexity of electronic devices. The surface mount equipment segment holds a significant market share due to its efficiency and suitability for high-volume production. Geographically, Asia Pacific, particularly China and other Southeast Asian nations, currently dominates the market, owing to the presence of a large manufacturing base and growing consumer electronics demand. However, North America and Europe are expected to witness substantial growth driven by investments in advanced manufacturing technologies and the increasing demand for high-precision assembly equipment in sectors like automotive and aerospace. The market faces challenges such as high initial investment costs for advanced equipment and the need for skilled labor to operate and maintain these sophisticated machines. Nevertheless, continuous technological advancements, such as the integration of artificial intelligence and machine learning in assembly processes, are expected to propel market expansion in the coming years. The competitive landscape is characterized by the presence of both established global players and regional manufacturers. Companies such as Panasonic, Fuji Corporation, ASM Pacific Technology, and Juki are major market leaders, known for their technological innovation and extensive global reach. These companies focus on delivering high-performance equipment with advanced features. However, the market is also witnessing the emergence of smaller, specialized players who offer niche solutions or cater to specific regional demands. This competitive dynamic fuels innovation and offers a diverse range of options for end-users. Future growth will likely be shaped by the increasing adoption of Industry 4.0 principles, the development of sustainable manufacturing practices, and the ongoing miniaturization and complexity of electronic devices. Strategic partnerships and mergers and acquisitions will also continue to play a crucial role in shaping the market landscape.

Between 2022 and 2033, the global electronic equipment repair service market size is forecast to increase. Indeed, in 2022, the size of this market amounted to roughly ****** billion U.S. dollars and, by 2033, it is forecast to reach a value of ***** billion U.S. dollars, growing at a CAGR of *** percent.

Asia Pacific Electrical Equipment market size is USD 368035.08 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

WEEE (Waste Electrical and Electronic Equipment) Recycling Market Size Was $300 Million in 2023 and Is Reach USD 550 Million by 2032, CAGR of 8%.

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Active Electronic Components Market Size 2024-2028

The active electronic components market size is forecast to increase by USD 125.3 billion at a CAGR of 6.78% between 2023 and 2028. The market's growth is influenced by various factors, such as the rising demand for IoT devices, which drives the growth of semiconductors. Additionally, there's a growing need for renewable energy sources, further stimulating market expansion. These factors collectively contribute to the market's upward trajectory, reflecting the increasing reliance on IoT technologies and the shift towards sustainable energy solutions. Moreover, the proliferation of connected devices and the Internet of Things (IoT) has significantly increased the demand for semiconductor devices. This trend is expected to continue as more industries and applications adopt IoT platforms. Additionally, the growing focus on renewable energy sources to mitigate environmental concerns is driving the demand for energy-efficient semiconductor devices, further propelling market growth.

What will be the Size of the Active Electronic Components Market During the Forecast Period?

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Active Electronic Components Market Segmentation

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

End-user Outlook

  Consumer electronics
  Networking and telecommunications
  Automotive
  Manufacturing
  Others 





Product Outlook 

  Semiconductor
  Vacuum tube
  Display devices





Region Outlook 

  North America

    The U.S.
    Canada





  Europe

    U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

By End-User

The market share growth by the consumer electronics segment will be significant during the forecast period. The market encompasses circuits that convert electrical input signals into functional outputs, utilizing electricity as an energy source. This market caters to various applications, including AC circuits and DC circuit in connected devices such as laptops, wearable devices, and industrial automation services. The healthcare industry and MEMS technology also benefit from these components, with semiconductors, diodes, transistors, and integrated circuits (ICs) being key players.

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The consumer electronics segment was valued at USD 84 billion in 2018. In the automotive sector, ICs are integral to electric vehicles, autonomous vehicle technologies, parking assistance, safety airbags, telematics, navigation, and 5G infrastructure. The semiconductor segment, including electric insulators, conductors, and current flow, is essential for the functioning of electrical devices, solid-state storage, resistors, capacitors, and other electronic components. The market's growth is driven by consumer smartphone use, 5G services, and the increasing demand for advanced technologies in various industries. This, in turn, is likely to drive market expansion in the consumer electronics segment throughout the forecast period.

Regional Analysis

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APAC is estimated to contribute 65% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in the Asia Pacific region is projected to experience significant growth, driven by increasing demand from industries such as consumer electronics & computing, automotive, aerospace, medical, industrial, and communications. Key end-use products include mobile phones, audio players, wireless routers, and various electronic equipment. NXP Semiconductors and other semiconductor companies are major contributors to this market. The growth is fueled by the expanding consumer base and rising disposable income in developing countries like China and India. This leads to increased demand for electronic devices, including computing components, ICs, amplifiers, and other components like vacuum tubes, inductors, and sensing devices.

Key raw materials include silicon, iron, nickel, molybdenum, and precious metals like palladium and ruthenium. The market is also influenced by digitalization, connectivity, mobility, and miniaturization trends. However, raw materials prices, supply chain issues, and the availability of alternative technologies may pose challenges. Additionally, advancements in technology bring innovations like electrochemical transistors, modular architecture, and amplifiers, fu

• Portable Medical Electronic Equipment Market Scope:

The report on Portable Medical Electronic Equipment Market offers in-depth analysis of market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report includes the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forecast years. The global portable medical electronic equipment market is segmented on the basis of type, application, and geography.

The Global Portable Medical Electronic Equipment market is estimated to be US$ XX.X Mn in 2019 and is projected to increase significantly at a CAGR of x.x% from 2020 to 2028. Read More

Electrical Test Equipment Market Outlook

The global electrical test equipment market size was valued at approximately USD 3.5 billion in 2023 and is forecasted to reach around USD 6.2 billion by 2032, witnessing a compound annual growth rate (CAGR) of 6.5% during the forecast period. This market is primarily driven by the rapid advancements in electronics and the increasing demand for efficient power utilization across various industries.

One of the primary growth factors for the electrical test equipment market is the ever-growing demand for sophisticated electronics and electrical systems. With the proliferation of consumer electronics, automotive electronics, and industrial automation, the need for precise and reliable testing equipment has escalated. Additionally, the trend towards miniaturization and the integration of complex functionalities in electronic devices necessitates advanced testing solutions to ensure performance, safety, and compliance with stringent industry standards.

Another significant growth driver is the expansion of the telecommunications sector, spurred by the global rollout of 5G technology. The deployment of 5G networks requires extensive testing to ensure infrastructure reliability, signal integrity, and performance optimization. This has led to increased investments in test and measurement equipment by telecom service providers and equipment manufacturers. Furthermore, the ongoing digital transformation across various sectors is boosting the demand for electrical test equipment to support the development, deployment, and maintenance of digital infrastructure.

The Evaluation Electronics sector plays a pivotal role in the electrical test equipment market, as it encompasses a wide range of testing solutions tailored for assessing the performance and reliability of electronic components and systems. This sector is crucial for ensuring that electronic devices meet industry standards and function optimally in various applications. With the continuous advancements in electronic technologies, the demand for sophisticated evaluation electronics has surged, enabling manufacturers to develop innovative products with enhanced functionalities. The integration of evaluation electronics in the testing process not only improves the accuracy and efficiency of testing but also helps in identifying potential issues early in the product development cycle, thereby reducing time-to-market and enhancing product quality.

The industrial sector's focus on energy efficiency and sustainability is also a crucial factor contributing to the market's growth. Industries are increasingly adopting advanced power management systems and renewable energy sources, driving the need for reliable testing solutions to monitor and optimize energy usage. This shift towards green technologies and sustainable practices is further augmented by governmental regulations and incentives, pushing industries to adopt state-of-the-art electrical test equipment.

Regionally, the Asia Pacific market is expected to witness substantial growth due to rapid industrialization and urbanization in countries like China and India. The presence of numerous electronics manufacturers and the increasing investments in renewable energy projects further bolster the demand for electrical test equipment in the region. North America and Europe are also significant markets, driven by technological advancements and the presence of established players. Latin America and the Middle East & Africa show promising growth potential, primarily due to infrastructure development and increasing adoption of advanced technologies.

Product Type Analysis

The product type segment of the electrical test equipment market includes multimeters, oscilloscopes, spectrum analyzers, power meters, and others. Each of these product types plays a vital role in various applications, contributing to the market's overall growth. Multimeters are widely used for measuring voltage, current, and resistance, making them indispensable in both industrial and consumer applications. Their versatility and ease of use drive their demand across multiple sectors, including telecommunications, automotive, and aerospace.

Oscilloscopes are crucial for analyzing and visualizing electrical signals, providing insights into the signal's amplitude, frequency, and noise. They are extensively used in research and development, troubleshooting, and quality control across various i

Global Motor Vehicle Electrical and Electronic Equipment market size is expected to reach $323.66 billion by 2029 at 9.3%, rising road accidents drive demand for enhanced motor vehicle electrical and electronic components

Portable Medical Electronic Products Market size is expected to reach US$ 204.3 Bn by 2034 from US$ 83.2 Bn in 2024, at a CAGR of 9.4%.

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This report provides key thermal management systems market for electronic equipment industry analysis on market segmentation by Application (Consumer electronics, Automotive electronics, Aerospace and defense electronics, and Medical electronics) and Geographic Landscape (APAC, Europe, MEA, North America, and South America) that can help players evaluate the overall supply and demand aspects and business approaches.

These segments are further classified based on their CAGR, growth, and spend momentum during the forecast period. Click the link to get such a detailed analysis of the various market segments.

Middle East and Africa Electrical Equipment market size is USD 32003.05 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

As per Cognitive Market Research's latest published report, the Global Electrical Test Equipment market size will be USD 8,599.93 Million by 2029. The Electrical Test Equipment Industry's Compound Annual Growth Rate will be 5.66% from 2023 to 2030.

The North America Electrical Test Equipment market size is estimated to reach USD 2,863.35 Million by 2029.

Factors Impacting on Electrical Test Equipment Market

Rising incidence of electricity-related accidents

An electrical incident is an unintended occurrence generated by an electric current that results in serious injury or property damage. These can cause electric shock when a finger, hand, or arm is placed across an electric current. It also causes burns sometimes. Occasionally, these electric accidents cause fire.

According to the NIOSH National Traumatic Occupational Fatalities (NTOF) surveillance System on an average of 411 deaths per year are caused by electrocutions.

Electrical incidents killed 166 electricians out of every 100,000 in 2019. Every year in the United States, it is estimated that 500-1,000 people die as a result of electrical injuries.

Similarly, electrical burns are a common occupational injury. There were 1,231 injuries in a ten-year survey of 120,000 employees out of which 77 percent were short-circuit injuries, 21 percent resulted in permanent impairment, and 2 percent were fatal.

These electrical disasters can happen owing to a variety of circumstances, such as outdated wiring, electric lines that run below carpets, unsecured connectors, poor wiring, and a lack of preventative devices such as ground fault circuits interrupters, among others.

Electrical test equipment is used to detect the presence of electric current, voltage in or near an object or surface, allowing the electrician to operate in a safe environment. It is also used assess whether the wire has intended voltage or not.

Electrical test equipment is used to generate signals and record responses from electronic devices that are being tested (DUTs). In this manner, the proper working of the DUT can be shown, or defects in the device can be identified. This can prevent numerous electricity related incidents.

As a result, rising incidence of electricity related accidents drives the growth of the electrical test equipment market.

Rising Need for Interoperability testing owing to growing deployment of IoT and Connected Decices

Restraints for Electrical Test Equipment Market

Inconsistent, high raw material prices and insufficient supply chain. (Access Detailed Analysis in the Full Report Version)

Opportunities for Electrical Test Equipment Market

Rapid industrialization. (Access Detailed Analysis in the Full Report Version)

What is Electrical Test Equipment?

Electrical test equipments are a variety of devices that detect and measure electrical conditions. Electrical test equipment is used to keep a range of electrical apparatus and electrical distribution networks in good working order.

All industrial electrical applications and conditions need the usage of electrical test equipment. Test equipment is used by industrial electrical maintenance and testing professionals to test transformers, circuit breakers, relays, fuses, starters, motors, generators, capacitors, and low and medium voltage cables, among other things.

It also supports the operation of industrial motors and machinery, lighting, computers, office equipment, and facility heating, cooling, and ventilation systems.

There are various types of electric test equipment currently available in the market, including multimeters, power quality analyzers, portable appliance testers, voltage meters, inductance testers, neon voltage testers, continuity testers, circuits analyzers, and others.

These equipment’s are either stationary or portable. Electrical testing equipment can be used for the voltage testing, functionality testing, and other testing application. It is widely used in the several industries such as energy & power, aerospace & defense, manufacturing, consumer electronics, oil and gas, and other industrial applications.

Nowadays there are electricity related accidents are found in every industry which needs proper management. This raises the demand for electrical testing equipment. With rapid industrial growth, this demand is rising further.