The electrical equipment manufacturing output in the Netherlands has been on an upward trajectory from 2013 to 2023. In 2023, the output was valued at 10.7 billion euros. This consistent growth is evident, particularly from 2020 onwards where year-on-year growth rates spiked significantly. The past two years saw notable increases of 13.45% in 2021 and 11.46% in 2022, followed by a 4.49% increase in 2023. Over the last five years, the average annual growth rate (CAGR) was 7.12%.
Forecasts indicate continued growth, albeit at a slightly slower pace with a 3.02% CAGR projected over the next five years, culminating in a 16.03% increase by 2028.
Future trends to watch for include:
- Technological advancements
- Shifts in energy consumption patterns
- Government policies and regulations
- Global economic conditions
