The value added of electrical equipment in Australia was 3.05 Billion Australian Dollars in 2023. In 2024, it is forecasted to be 3.13 Billion AUD, representing a year-on-year increase of approximately 2.6%. For 2025, the value is expected to rise to 3.19 Billion AUD, marking a 1.9% increase from the previous year. By 2026, the value added is projected to reach 3.24 Billion AUD, a 1.6% increase from 2025. The forecast for 2027 shows a value of 3.28 Billion AUD, translating to a 1.2% increase from 2026. Finally, in 2028, the value is anticipated to be 3.3 Billion AUD, indicating a smaller growth rate of 0.6% from the previous year. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is expected to be about 1.5%.
Future trends to watch for include advancements in renewable energy technologies, increasing automation in manufacturing processes, and possible changes in trade policies that could impact the import and export of electrical equipment. Monitoring these trends will be key to understanding the evolving landscape in the electrical equipment sector in Australia.
