Over the past decade, the manufacture of electrical equipment sector in France experienced fluctuations in production, with notable growth followed by declines in recent years. The production value peaked at 30.75 billion Euros in 2017 but saw a consistent decline from 2019 onwards. In 2023, the production stood at 26.09 billion Euros, representing a 2.83% drop from the previous year and a negative compound annual growth rate (CAGR) of 3.1% over the last five years.
The forecast from 2024 to 2028 predicts a continuing downward trend, with a forecasted 5-year CAGR of -2.43%, leading to an estimated production value of 22.4 billion Euros by 2028. This reflects a projected overall decline of 11.57% over the period.
Future trends to watch for:
• Impact of technological advancements and automation on production efficiency.
• Changes in global and European market demand for electrical equipment.
• Regulatory and policy changes, including environmental regulations and their impact on production costs.
• Potential shifts towards renewable energy and their influence on the electrical equipment sector.
