The German electrical equipment manufacturing sector showcased fluctuating growth between 2013 and 2023, peaking notably in 2021. As of 2023, the annual output value stood at approximately €114.93 billion, showing a modest year-on-year growth of 1.11%. Over the past five years, the sector experienced a Compound Annual Growth Rate (CAGR) of 1.04%.
Looking ahead, forecasts indicate a steady upward trend, with the sector expected to reach €121.08 billion by 2028. Key points to anticipate include:
- A consistent forecasted CAGR of 0.83% over the next five years.
- A forecasted 4.21% total growth rate by 2028.
Future trends to watch for: Technological advancements in automation and the increasing demand for energy-efficient products are likely to drive growth. Emphasis on sustainable practices and renewable energy integration will also play a crucial role in shaping the industry's trajectory.
