The European production of electrical equipment in 2023 saw Germany leading with a value of 110.18 billion Euros, followed by Italy at 40.0 billion Euros and France at 21.07 billion Euros. Germany had a slight year-on-year increase of 0.13%, while Italy and Spain experienced substantial growth at 0.24% and 0.37%, respectively. Smaller countries like Estonia and Lithuania showed impressive year-on-year variations of 3.76% and 3.43%. However, Belgium faced a decline of 0.24%. Over the last five years, growth trends have varied, with Austria showing the highest CAGR of 2.39%, indicative of a robust growth trajectory.
Future trends to watch in the European electrical equipment sector include increasing digitalization and smart technology integration, which could drive up production values. Sustainability and energy efficiency mandates may also bolster growth in countries investing in green technology adaptations. Expanding markets in Eastern Europe and innovations in electric vehicle components could further reshape the sector's landscape across Europe.
Top countries in Production of Electrical Equipment by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 110,180 | 2023 | +0.69% | +0.13% | View data |
| 2 | 2 Italy | 40,000 | 2023 | +0.25% | +0.24% | View data |
| 3 | 3 France | 21,070 | 2023 | +0.14% | +0.096% | View data |
| 4 | 4 Spain | 18,880 | 2023 | +0.97% | +0.37% | View data |
| 5 | 5 Austria | 14,980 | 2023 | +2.4% | +2.39% | View data |
| 6 | 6 Netherlands | 8,260 | 2023 | +1.66% | +1.7% | View data |
| 7 | 7 Finland | 5,860 | 2023 | +1.96% | +1.97% | View data |
| 8 | 8 Slovakia | 4,460 | 2023 | +2.7% | +3.17% | View data |
| 9 | 9 Slovenia | 3,620 | 2023 | +2.74% | +3.04% | View data |
| 10 | 10 Belgium | 3,240 | 2023 | -1.25% | -0.24% | View data |
