In 2023, Germany dominated European electrical equipment production with a value of 55.41 billion Euros, demonstrating impressive growth at 8.14% year-over-year. France, Italy, and Spain followed with varying growth rates, where France saw a slight decline, and both Italy and Spain experienced marginal fluctuations. Noteworthy growth was observed in Cyprus and Bosnia and Herzegovina, with significant increases of 8.07% and 16.7% respectively. Conversely, Belgium faced a substantial decline of 8.51%, and Sweden experienced a reduction of 4.92% in production value. Over the last five years, these trends highlight Germany's strength and the varied dynamics across smaller markets.
Future trends to watch in European electrical equipment production include Germany's potential continued expansion, focus on technological and green transitions influencing growth in Scandinavian countries, and Brexit's ongoing impact on the UK's production value. Additionally, eastern European countries like Romania and Bulgaria might attract investment leading to potential growth due to competitive manufacturing costs.
Top countries in Electrical Equipment Production Value by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 55,410 | 2023 | +1.12% | +8.14% | View data |
| 2 | 2 France | 13,530 | 2023 | +1.04% | -0.0037% | View data |
| 3 | 3 Italy | 13,350 | 2023 | +0.61% | +0.27% | View data |
| 4 | 4 Spain | 7,310 | 2023 | +0.42% | -0.46% | View data |
| 5 | 5 Austria | 6,680 | 2023 | +0.55% | -0.92% | View data |
| 6 | 6 United Kingdom | 6,600 | 2023 | +0.05% | -0.022% | View data |
| 7 | 7 Czech Republic | 5,610 | 2023 | +4.41% | +2.28% | View data |
| 8 | 8 Switzerland | 4,340 | 2023 | +5.79% | +1.33% | View data |
| 9 | 9 Poland | 4,000 | 2023 | +3.61% | +2.46% | View data |
| 10 | 10 Finland | 3,690 | 2023 | +1.03% | +0.71% | View data |
