In 2023, Germany maintained a dominant market share in the European Electrical Equipment and Electronics sector with a turnover value of 34.92 million euros, despite a slight decline of 0.5% from the previous year. Italy and France followed, with turnovers of 10.45 and 8.63 million euros respectively, both experiencing year-on-year drops of 0.97% and 1.76%. Conversely, Poland showed robust growth with a significant 7.41% increase, reaching 6.47 million euros. Switzerland and the Czech Republic also presented positive trends with increases of 2.25% and 2.21% respectively.
The United Kingdom, Austria, and Spain saw mixed results; the UK and Spain recorded declines of 0.59% and 5.19%, while Austria noted a modest rise of 0.8%. Other notable performers include Hungary (5.44%), Romania (3.61%), Greece (5.82%), and Serbia (5.92%), underscoring an uptick in Eastern European markets. Meanwhile, smaller markets like Iceland, Malta, and Luxembourg experienced minor fluctuations.
Future trends to watch for in the European Electrical Equipment and Electronics market include continued growth in Eastern Europe, particularly in Poland, Hungary, Romania, Greece, and Serbia. Advances in renewable energy technologies and the burgeoning Internet of Things (IoT) ecosystem are expected to further bolster market dynamics.
Top countries in Electrical Equipment and Electronics Turnover Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 34.92 | 2023 | +1.24% | -0.5% | View data |
| 2 | 2 Italy | 10.45 | 2023 | +1.71% | -0.97% | View data |
| 3 | 3 France | 8.63 | 2023 | -1.21% | -1.76% | View data |
| 4 | 4 Poland | 6.47 | 2023 | +3.9% | +7.41% | View data |
| 5 | 5 Switzerland | 4.67 | 2023 | +3.22% | +2.25% | View data |
| 6 | 6 United Kingdom | 4.06 | 2023 | -0.89% | -0.59% | View data |
| 7 | 7 Austria | 3.95 | 2023 | +3.21% | +0.8% | View data |
| 8 | 8 Spain | 3.9 | 2023 | -5.85% | -5.19% | View data |
| 9 | 9 Czech Republic | 3.8 | 2023 | +3.08% | +2.21% | View data |
| 10 | 10 Netherlands | 3.51 | 2023 | +3.49% | +4.41% | View data |
