In 2023, Germany maintained its dominance with the highest Gross Value Added (GVA) in electrical equipment manufacturing, contributing significantly to the European sector. Spain experienced a slight decrease, while Finland and Slovakia saw moderate increases. Portugal, Ireland, and Cyprus also recorded positive growth. Noteworthy increases were observed in Croatia and Estonia. Malta showed a robust year-on-year increase of 5.96%, despite its small share, while Cyprus experienced a 2.46% rise. It’s essential to recognize that the average yearly increase (CAGR) over the past five years has shown diverse trends among these nations.
Future trends to watch include Germany’s continuous stronghold and improving value-added shares from smaller countries like Slovakia and Estonia. Potential growth areas may also arise from technological advancements and increased investments across the sector.
Top countries in Electrical Equipment Manufacturing Gross Value Added Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 82.57 | 2023 | +1.13% | +0.36% | View data |
| 2 | 2 Spain | 8.3 | 2023 | +0.95% | -0.14% | View data |
| 3 | 3 Finland | 3.56 | 2023 | -2.1% | +2.73% | View data |
| 4 | 4 Slovakia | 2.12 | 2023 | -2.86% | +3.51% | View data |
| 5 | 5 Portugal | 1.27 | 2023 | +0.018% | +1.93% | View data |
| 6 | 6 Ireland | 0.85 | 2023 | +0.028% | +1.79% | View data |
| 7 | 7 Croatia | 0.81 | 2023 | +10.54% | +9.67% | View data |
| 8 | 8 Estonia | 0.44 | 2023 | +3.21% | +4.32% | View data |
| 9 | 9 Malta | 0.053 | 2023 | +12.04% | +5.96% | View data |
| 10 | 10 Cyprus | 0.025 | 2023 | +2.19% | +2.46% | View data |
