The output of electrical equipment in the US stood at $144.96 billion in 2023. Forecasted data indicates a steady year-on-year increase in output, with slight incremental growth: 0.16% in 2025, 0.17% in 2026, and 0.15% in 2027, peaking at $145.88 billion in 2028. The Compound Annual Growth Rate (CAGR) for the 2023-2028 period is modest, demonstrating average annual growth stability.

Future trends to watch for include:

Technological advancements in renewable energy and smart grid solutions driving new equipment demand.
Potential impacts of government policies on infrastructure spending and energy efficiency mandates.
Global supply chain dynamics affecting production costs and material availability.