Key Market Indicators
**Irish Electrical Equipment Revenue to Hit €2 Billion by 2028** DUBLIN - The revenue for Irish electrical equipment is projected to reach €2 billion by 2028, up from €1.34 billion in 2023, marking an annual growth rate of 6.3%. This growth follows a decade-long trend, with the market having risen by 10.8% annually since 2013. In the global rankings for 2023, Ireland held the 15th position, with Denmark narrowly surpassing it at €1.34 billion. Leading the rankings were France, Italy, and Spain, occupying the second, third, and fourth spots respectively. **Stagnant Import Numbers** On the import front, Irish electrical equipment imports are expected to remain relatively flat, reaching approximately $5.5 billion by 2028, a slight decrease from $5.51 billion in 2023. This indicates a zero percent annual decline. Historical data show that since 1997, demand in Ireland has experienced a marginal decline of 0.9% per year. **Export Growth Continues** In contrast, Irish electrical equipment exports are on a positive trajectory, anticipated to grow to $10 billion by 2028 from $9.44 billion in 2023, reflecting an average annual increase of 1%. Since 1997, Ireland's supply has shown a consistent growth rate of 1.5% per year. These figures highlight the dynamic nature of Ireland's electrical equipment market, with revenue and exports on the rise despite a stagnation in imports.
