The production in the manufacture of electrical equipment sector in Germany stood at 115.36 billion Euros in 2023. From 2013 to 2023, the sector has shown a steady growth trend with interruptions. Year-on-year variations reveal fluctuating growth rates with notable dips in 2015 and 2020, balanced by strong recoveries in subsequent years, such as 2017 and 2021. Over the last five years leading up to 2023, the sector experienced an average annual growth rate (CAGR) of 1.01%.
Looking ahead, forecasted data from 2024 through 2028 indicates continued but modest growth, with a projected CAGR of 0.89%. Key future trends to watch include:
- The impact of advancing technologies like IoT and AI on production efficiencies.
- Changes in global supply chains, particularly regarding raw materials and components sourcing.
- Policy and regulatory shifts towards sustainability and renewable energy adoption that may drive innovation and new product development within the sector.
