The electrical equipment and electronics turnover in the UK faced fluctuations from 2013 to 2023. The turnover decreased significantly in 2020, primarily due to pandemic-related disruptions, but rebounded sharply in 2021. From 2022 onward, a gradual decline is evident, with the 2023 actual standing at 15.14 Billion Euros. The YoY variation over the last two years showed a decrease of -0.9% in 2022 and -0.89% in 2023. The 5-year CAGR from 2019 to 2023 is -0.59%, indicating a slight decline in the market.
Future trends to watch for include increased digitalization and automation in manufacturing processes, growing demand for energy-efficient products, and potential impacts of economic policies and global supply chain dynamics on the UK’s electrical equipment and electronics market.
