$57.1bn
$X.Xbn
128k
1,584
$XX.Xbn
Electrical equipment manufacturers have endured moderate volatility in recent years. During the initial stages of the pandemic, changes in demand from the industrial sector, one of the largest downstream users of electrical equipment, negatively impacted equipment manufacturers. Significant supply chain disruptions, social distancing requirements and weaker demand for manufactured products led to revenue losses, a trend enhanced by instability in the nonresidential construction sector. However, the ongoing economic recovery has enabled demand for manufactured goods to bounce back, while historically high corporate profit has boosted demand for construction projects. As a result, revenue has grown at an estimated CAGR of 2.7% to $57.1 billion through the current period, including a 0.4% gain in 2024 alone.
Industry revenue has grown at a CAGR of 2.7 % over the past five years, to reach an estimated $57.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Eaton Corporation Plc | 6,934.0 | 704.1 | 10.2 | |
Johnson Electric Holdings Ltd. | 5,230.6 | 261.5 | 5.0 | |
Schneider Electric Se | 4,332.2 | 558.5 | 12.9 |
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Industry revenue is measured across several distinct product and services lines, including Relays and industrial controls, Switchgear and switchboards and Motors and generator manufacturing. Relays and industrial controls is the largest segment of the Electrical Equipment Manufacturing in the US.
Motor and generator manufacturers falter amid growing economic uncertainty
This industry manufactures power, distribution and specialty transformers; electric motors, generators and motor-generator sets, switchgear and switchboard apparatus, relays and industrial controls. Electrical equipment manufacturers sell their products to other manufacturing industries, wholesalers and the construction sector.
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NAICS 33531 - Electrical Equipment Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Climbing interest rates have reduced demand from the construction sector, a significant buyer of electrical equipment. Companies will rely on sustained government funding to ...
Learn about an industry's products and services, markets and trends in international trade.
Transformer sales benefit from inelastic electricity consumption from businesses and households. Demand for other products, like industrial controls, heavily relies on underl...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Manufacturers commonly operate in regions close to trade routes that connect to major importers. Many businesses set up shop in the Southeast, given its proximity to Mexico.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Manufacturers have increasingly moved overseas to combat rising costs. Import penetration remains a key issue for domestic electrical equipment manufacturers with imported eq...
Learn about the performance of the top companies in the industry.
Leading manufacturers often operate through multiple peripheral industries, like power conversion equipment manufacturing. This diversification enables companies to sell more...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers must respond to changing environmental regulations. Many downstream power companies have increased their use of electrical equipment to adhere to sustainability...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Companies rely on skilled labor to design and manufacture products. The need for skilled labor will continue to grow as manufacturers prioritize specialized niches and custom...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Electrical Equipment Manufacturing in the US industry in United States is $57.1bn in 2024.
There are 1,584 businesses in the Electrical Equipment Manufacturing in the US industry in United States, which has declined at a CAGR of 1.0 % between 2019 and 2024.
The market size of the Electrical Equipment Manufacturing in the US industry in United States has been growing at a CAGR of 2.7 % between 2019 and 2024.
Over the next five years, the Electrical Equipment Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Electrical Equipment Manufacturing market in United States are Eaton Corporation Plc, Johnson Electric Holdings Ltd. and Schneider Electric Se
Transformers and Motors and generators are part of the Electrical Equipment Manufacturing in the US industry.
The company holding the most market share in United States is Eaton Corporation Plc.
The level of competition is moderate and increasing in the Electrical Equipment Manufacturing in the US industry in United States.