The electrical equipment manufacturing sector in the Netherlands has shown a consistent upward growth trend from 2013 to 2023, reaching 3.66 billion Euros in 2023. Despite minor fluctuations, the sector's gross value added (GVA) demonstrates resilience with notable year-on-year variation peaks, especially in 2015 (12.54%) and 2019 (8.42%). From 2019 onwards, the annual growth has stabilized, averaging a CAGR of around 4.54% for the past five years up to 2023.
For the future, from 2024 to 2028, the sector is forecasted to grow steadily although at a slightly diminished pace, reflecting a 5-year forecast CAGR of 0.62%, with the GVA projected to reach 3.82 billion Euros by 2028.
- 2013 to 2023: Consistent growth with fluctuations, ending at 3.66 billion Euros in 2023
- 2019-2023: Stable growth with an average CAGR of 4.54%
- 2024-2028: Forecasted growth at a slower pace with a 5-year CAGR of 0.62%
Future trends to watch for include potential impacts of technological advancements, regulatory changes, and global supply chain dynamics. Keeping a close eye on innovation in electrical equipment and shifting market demands will be crucial to maintain growth.
