Key Market Indicators
The revenue for British Electrical Equipment is projected to reach approximately €5.7 billion by 2028, down from about €6 billion in 2023. This represents an average annual decline of 0.8%. The market has been shrinking at a rate of 1% per year since 2013. In 2023, the UK ranked seventh in the market, with the Czech Republic surpassing it at €6 billion. Leading the ranking were France, Italy, and Spain at the second, third, and fourth positions, respectively. On the import front, British Electrical Equipment imports are expected to grow to nearly $67.7 billion by 2028, up from around $64.7 billion in 2023. This equates to a compound annual growth rate (CAGR) of 0.7%. British demand for electrical equipment has been on the rise, increasing at an annual rate of 0.7% since 1998. Conversely, British Electrical Equipment exports are anticipated to decrease to approximately $23.3 billion by 2028, down from about $25.6 billion in 2023. This marks a CAGR decline of 1.5%. Since 1998, British supply in this sector has been contracting by 2.1% annually.
