In 2023, China's R&D expenditure in electrical equipment manufacturing was notably dominant, standing at 48.17 billion USD PPP, followed by the United States and Germany. Significant growth in R&D spending was observed in Latvia (27.06%), Israel (7.92%), and China (9.09%). Conversely, countries like Canada, Finland, and Lithuania saw declines, with Lithuania experiencing a significant drop of 13.92%. The five-year CAGR indicates a positive trend in investment in electrical equipment manufacturing globally.
Future trends to watch include:
- Increased focus on renewable energy technologies driving higher R&D investments.
- Potential shifts in funding due to emerging economies expanding their manufacturing capabilities.
- Technological advancements and automation impacting R&D expenditure allocations.
- Geopolitical factors influencing multinational R&D strategies and collaborations.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Electrical Equipment by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 48,170 | 2023 | +8.82% | +9.09% | View data |
| 2 | 2 United States | 5,260 | 2023 | +2.27% | +4.44% | View data |
| 3 | 3 Germany | 3,740 | 2023 | +3.05% | +2.01% | View data |
| 4 | 4 Italy | 967.02 | 2023 | +7.06% | +2% | View data |
| 5 | 5 Taiwan | 690.04 | 2023 | -1.82% | +0.76% | View data |
| 6 | 6 Israel | 451.66 | 2023 | +2.5% | +7.92% | View data |
| 7 | 7 Czech Republic | 417.75 | 2023 | +4.81% | +5.06% | View data |
| 8 | 8 United Kingdom | 307.57 | 2023 | +1.61% | +1.33% | View data |
| 9 | 9 Spain | 284.93 | 2023 | -0.17% | +0.83% | View data |
| 10 | 10 Canada | 249.67 | 2023 | +3.84% | -1% | View data |
