Europe Electrical Components Market - Forecast(2024 - 2030)

Report Code: AIR 0474 Report Format: PDF + Excel


The Europe Electrical Components Market size is forecast to reach USD $396.4 billion by 2031, after growing at a CAGR of 3.0% during the forecast period 2024-2031.  Electrical components of diversified ranges are imperative to several industries as they are responsible for controlling currents or voltages, and several other long-running advantages. The growth of the Electrical Components Industry is influenced by a number of prominent factors, such as rising penetration of industrial IoT for digital twins, advancements in semiconductor technology and popularity of the Stretchable Electronic applications. Electrical components are an indispensable part of every business sector, including industrial manufacturing, automotive, healthcare, aviation and many more. In addition, the avant-garde opportunities offered by the next generation electronic devices, such as smartphones, laptops, wearable electronics and bioelectrical devices continue to promote the growth of the market. Therefore, the surge of new age of technologies, pertinent to autonomous vehicles, bioelectrical devices, AI-powered computer assistants, and other array of innovations propelled the growth of the Europe Electrical Components Market.

Report Coverage

The report “Europe Electrical Components Market – Forecast (2024-2031)”, by IndustryARC, covers an in-depth analysis of the following segments of the Europe Electrical Components Market.

By Building Automation: Building Automation, Datacom Accessories, Security & Wiring Accessories

By Cables & Wires: Datacom Cables, LV Cables, MV&HV Cables and Special Cables.

By Energy Distribution: MV&HV Energy Distribution

By Industrial Automation: Automation Controls, Auxiliary Controls, Drives & Motion Controls, Measurement Controls and Relays.

By Lighting: Fixtures, Lamps & LEDs

By Power Distribution: Cable Management, Enclosures & Panels, and LV Electrical Distribution

By Renewable Energies: HVAC and Renewable energy.

By Safety & Tools: Safety Equipment, Working Tools & Accessories and Others

By Geography:  Germany, France, UK, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Austria, Ireland, Portugal, Romania, Poland, Czechia, Turkey, Ukraine and Others

Key Takeaways

Asia Pacific region is analyzed to be the major region for the Europe Electrical Components Market, owing to the promising penetration of smartphones, prominence of electronics manufacturing sectors and expansion of the IT and telecom sectors.
Heating, ventilation, and air conditioning (HVAC) technology is expected to emerge with high growing owing to the growing adoption of smart homes and related technologies. 
The strong penetration of smartphone and other kinds of smart devices along with the prevalent demand of bandwidth connectivity are some of the factors that resulting to the positive impact on the market growth. 

By Product - Segment Analysis

By building automation, the Europe Electrical Components Market is segmented into Building Automation, datacom accessories, security and Wiring accessories. Among them, security segment is analyzed to hold the maximum share of 40% in 2023. The dominance of the segment is witnessed owing to government initiatives to promote the smart sensors owing to the rising concern of safety along with the growing adoption of smart home technologies. For Instance: According to World Bank Reports, Indonesia has shown significant growth in the investments done in industrialization and construction sector owing to different smart city projects and building automation programs. 

By Lighting - Segment Analysis

By lighting, the Europe Electrical Components Market is segmented into Fixtures and lamps & LEDs. Out of which lamps & LEDs is analyzed to hold the maximum share of 57% in 2023. The growth of segment is attributed owing to the escalating adoption of LED lighting in both the urban and semi-urban provinces of the country. For Instance: In the present scenario, India is rapidly evolving from utilizing conventional products to LEDs. The LED lighting is being precisely adopted in residential, commercial and industrial sectors across the country. According to Electric Lamp and Component Manufacturers Association of India (ELCOMA) has estimated that India LED sector is estimated to reach around $681.14 billion by the end of the year 2031 Moreover, the Initiatives taken by the central government is positively influencing the surge and adoption of emergency lighting in India.

By Geography - Segment Analysis

Asia Pacific region is analyzed to be the major region with a growth rate of 3.6% for the Europe Electrical Components Market, owing to the promising penetration of smartphones, prominence of electronics manufacturing sectors, expansion of the IT and telecom sectors and government support for initiating IoT and LTE integration. By 2025, the GSMA predicts that 5G networks will reach 1.2 billion connections or one-third of the world's population. The rising integration of 5G network services across the globe is observed to boost the demand for electronic components. The market growth is being driven by several factors such as increasing demand for consumer electronics, the rollout of 5G networks and the growth of high-speed data communication, advancements in IoT, and increasing industrial automation. In January 2023, Renesas unveiled a new intelligent power device (IPD) for automobiles that manage power distribution in cars flexibly and safely to satisfy the demands of the next E/E (electrical/electronic) designs. Thus, this is expected to drive market growth during the forecast period.

Drivers – Europe Electrical Components Market

• Rise of Renewable Energy Solution

Asia Pacific was the dominating renewable energy market with a market share of over 35% in 2022. It is estimated that over half of the renewable energy across the globe is consumed in Asia Pacific region. The rapid industrialization and urbanization in the region had resulted in the rapid increase in the pollution levels. Furthermore, a rapid increase in the population and rise in the residential projects in the region is fuelling the demand for the electricity.

• Large-scale adoption of Industrial Automation Solution

The Industrial Automation solution has been witnessing rapid advancement in recent years, which eventually highlighted the emergence of latest wireless devices and other industrial communication solutions, thereby driving the growth of the Europe Electrical Components Market. The global supplier of IoT intelligent systems, Industry 4.0, and machine automation solution, Advantech expanded its line of device servers and Modbus gateways with the launch of the EKI-1521I-SC-A, EKI-1221I-MT-A, and EKI-1222I-SC-A. These Advantech solutions are fiber optics ports for providing enhanced connectivity in services, including long distance transmission as well as protocol conversion. Therefore, the expansion of industrial IoT for digital twins and augmented reality technology are some of the factors that are analyzed to drive the growth of the Europe Electrical Components Market.

Challenges – Europe Electrical Components Market  

Economic Impact by Covid-19 pandemic

The outbreak of Covid-19 pandemic represents as the twin challenges to lives and livelihoods. The implication of the pandemic to business is very disruptive, and most of the industry verticals, such as manufacturing, construction, power and other sector are witnessing economic complexities. Hence, these unexpected pandemic consequences brought severe repercussions to various electrical components, and impede the growth of Europe Electrical Components Market.

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Europe Electrical Components Market. The Europe Electrical Components Market top 10 companies include ABB, Xcel Energy Inc., EDF, National Grid Renewables, Acciona, Enel Spa, Innergex, The Tata Power Company Limited, General Electric, Invenergy.
In 2022 ABB India declared to expand and upgrade the small power manufacturing unit in Bengaluru, India. The manufacturing facility would help cater to the growing demand for low-voltage power equipment and components from the industries.
In 2022 Hitachi Energy invested USD 37 million to expand its transformer manufacturing unit in Virginia. This development would likely cater to the increase in requirements for transformers from industrial facilities, data centers, and renewable energy generators.

1. Europe Electrical Components Market- Overview
    1.1. Definitions and Scope
2. Europe Electrical Components Market- Executive Summary
3. Europe Electrical Components Market- Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. Europe Electrical Components Market- Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Venture Capital and Funding Scenario
5. Europe Electrical Components Market– Market Entry Scenario Premium 
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Europe Electrical Components Market- Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Europe Electrical Components Market– Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. Europe Electrical Components Market– by Building Automation (Market Size – $Million/$Billion) 
    8.1. Building Automation 
        8.1.1 BMS(Protocols)
        8.1.2 HVAC Control
        8.1.3 Lighting Control (Dimmer, Sensors)
        8.1.4 Outdoor Control
        8.1.5 Sound & Entertainment Systems
    8.2. Datacom Accessories 
        8.2.1 Active Data
        8.2.2 Copper Connectivity
        8.2.3 Fiber Connectivity
        8.2.4 UPS
    8.3. Security 
        8.3.1 Access Control
        8.3.2 Fire Protection
        8.3.3 Intrusion Protection
        8.3.4 Video Surveillance
8.4. Wiring Accessories. 
        8.4.1 Lamp Receptable
        8.4.2 Plugs
        8.4.3 Switches & Sockets
9. Europe Electrical Components Market– by Cables & Wires (Market Size – $Million/$Billion)
    9.1 Datacom Cables 
        9.1.1 Communication & Data Cables
        9.1.2 Fiber Optic Cables
    9.2 LV Cables 
        9.2.1 Fire Resistant Cables
        9.2.2 Low Smoke & Halogen Free Cable
        9.2.3 Low Voltage Cables & Wires
    9.3 MV&HV Cables
        9.3.1 High Voltage Cable
        9.3.2 Medium Voltage Cables
    9.4 Special Cables
        9.4.1 Mining Oil & Gas Cables
        9.4.2 Photovoltaic Cables
        9.4.3 Ship & Harbour Cables
        9.4.4 Windmill Cables
10. Europe Electrical Components Market– by Energy Distribution (Market Size – $Million/$Billion)
    10.1 MV & HV Energy Distribution 
        10.1.1 Busways/Buswars
        10.1.2 LV/MV Transformers
        10.1.3 MV/HV/Distribution and Switchgears
        10.1.4 MV/HV/Equipment (Overhead Line Material Connections)
        10.1.5 Transient Voltage
        10.1.6 Surge and Lightining Protection
        10.1.7 VCB ( ACB's)
        10.1.8 Quality Energy (Capacitors, Harmonics)
11. Europe Electrical Components Market– by Industrial Automation Market Size – $Million/$Billion)
    11.1. Automation Controls
        11.1.1 Human Machine Interface
        11.1.2 Industrial Buses
        11.1.3 Input/Output Analy Speciality Cards
        11.1.4 Programmable Logic Control
        11.1.5 Software
        11.1.6 SCADA   
    11.2 Auxiliary Controls
        11.2.1 Light Towers and Beacons Horns
        11.2.2 Push Buttons, Turning Knobs, Power Control, CAM Switches
    11.3 Drives & Motion Controls
        11.3.1 Inverters, Variable Speed Drives
        11.3.2 Motors
        11.3.3 Starters
    11.4 Measurement Controls
        11.4.1 Encoders
        11.4.2 Industive and Capacitive Sensors
        11.4.3 Measure and Control
        11.4.4 Mechanical Sensors
        11.4.5 Optical Sensors
    11.5 Relays
        11.5.1 Auxiliary Relays
        11.5.2 Contactors
        11.5.3 Industrial & Control Interfaces        
12. Europe Electrical Components Market – by Lightening (Market Size – $Million/$Billion) 
    12.1. Fixtures
        12.1.1 Emergency Lightening
        12.1.2 Indoor Lightening Decorative for Commercial and Hospitality
        12.1.3 Indoor Lightening Functional for Commercial, Office and Hospitality
        12.1.4 Industrial Lightening for Industry
        12.1.5 Outdoor Lighting for Pathway, Garden, Building
        12.1.6 Outdoor Lighting for Street
        12.1.7 Outdoor Lighting Projectors for Monument
    12.2 Lamps & LEDs
        12.2.1 Discharge for Stadium & Areas
        12.2.2 Fluorescents CFL Tubes for Parking, Office and Residential
        12.2.3 Halogen for Commercial & Shops
        12.2.4 Incandescent for Residentials
        12.2.5 LED"A" Lamps (Replacing Incandescent in Residential)
        12.2.6 LED GU 5.3 & GU 10 (Replacing Halogen for Commercial & Shops)
        12.2.7 LED Tube (Replacing Fluo tube for Parking and Office)
13. Europe Electrical Components Market – by Power Distribution (Market Size – $Million/$Billion) 
    13.1. Cable Management
        13.1.1 Cable Accessories (Fixing, Connectors, Glands, Shrinks...)
        13.1.2 Cable trays & Ladders
        13.1.3 Conduits & Pipes, (incl. Prewired Conduits)
        13.1.4 Floor & Desk Elements (Column, Underfloor..)
        13.1.5 Trunkings and Raceaways (Plastic and Metal)
    13.2 Enclosures & Panels
        13.2.1 Boxes, Covers, Troughs
        13.2.2 Enclosures (Empty)
        13.2.3 Equipped Enclosures
        13.2.4 Panel Assembly (DIN Rails, Copper Bars, Air Exchangers...) excl. Terminal Blocks
        13.2.5 System Enclosures
        13.2.6 Terminal Blocks 
    13.3 LV Electrical Distribution
        13.3.1 MCCB's & ACB's
        13.3.2 Modular/DIN-Rail-Mountable Protection Devices
        13.3.3 Modular/DIN-Rail-Mountable Control Devices
        13.3.4 Other Electrical Distribution (Fuses & Fuse Holders)   
14. Europe Electrical Components Market – by Renewable Energies (Market Size – $Million/$Billion) 
    14.1 HVAC
        14.1.1 Air Conditioning
        14.1.2 Heating
        14.1.3 Ventilation
        14.1.4 Water Heating)
    14.2 Renewable Energies
        14.2.1 Heat Pumps
        14.2.2 Photovoltaic
        14.2.3 Solar Heating
        14.2.4 Windmills Residential 
15. Europe Electrical Components Market – by Safety & Tools (Market Size – $Million/$Billion) 
    15.1 Others
        15.1.1 Engineering Supplies Batteries
        15.1.2 Engineering Supplies Chemical and Paints
        15.1.3 Engineering Supplies Fluid ,Air & Transfer
        15.1.4 Engineering Supplies Power Transmission
        15.1.5 Engineering Supplies Tapes, Adhesives and Resins
    15.2 Safety Equipment
        15.2.1 Health & Hygiene
        15.2.2 Personal Protection
        15.2.3 Technical Safety Equipment & Gas Detection
        15.2.4 Workplace Safety Signs
    15.3 Working Tools & Accessories
        15.3.1 Cutting Tools & Abrasives
        15.3.2 Fasteners Anchors & Fittings
        15.3.3 Fasteners Cable Ties
        15.3.4 Fasteners Screws & Bolts
        15.3.5 Hand Tools
        15.3.6 Measurement Tools
        15.3.7Power Tools
16. Erope Electrical Components Market – by Geography (Market Size – $Million/$Billion) 
    16.1 mericas
        16.1.1 U.S
        16.1.2 Canada
        16.1.3 Mexico 
        16.1.4 Brazil
        16.1.5 Argentina
        16.1.6 Chile
        16.1.7 Colombia 
        16.1.8 Peru
        16.1.9 Puerto Rico
        16.1.10 Costa Rica
        16.1.11 Cuba
        16.1.12 Dominican Republic
        16.1.13 Ecuador
        16.1.14 Guatemala
        16.1.15 Panama
        16.1.16 Paraguay
        16.1.17 Uruguay
        16.1.18 Rest of Americas
    16.2. Europe
        16.2.1. Germany
        16.2.2. France
        16.2.3. UK
        16.2.4. Italy
        16.2.5. Spain
        16.2.6. Russia
        16.2.7. Netherlands
        16.2.8. Poland
        16.2.9. Switzerland
        16.2.10. Turkey
        16.2.11. Sweden
        16.2.12. Norway
        16.2.13. Ireland
        16.2.14. Austria
        16.2.15. Belgium
        16.2.16. Czech Republic
        16.2.17. Finland
        16.2.18. Denamrk
        16.2.19. Romania
        16.2.20. Hungary
        16.2.21. Portugal
        16.2.22. Greece
        16.2.23. Belarus
        16.2.24. Bulgaria
        16.2.25. Croatia
        16.2.26. Estonia
        16.2.27. Lativa
        16.2.28. Lithuania
        16.2.29. Luxemburg
        16.2.30. Serbia
        16.2.31. Slovak Republic
        16.2.32. Slovenia
        16.2.33. Ukraine
        16.2.34. Macedonia
        16.2.35. Rest of Europe
        16.3.As ia-Pacific
        16.3.1. China
        16.3.2. Japan
        16.3.3. South Korea
        16.3.4. India
        16.3.5. Australia 
        16.3.6. New Zealand
        16.3.7. Indonesia
        16.3.8. Malaysia
        16.3.9. Taiwan
        16.3.10. Thailand
        16.3.11. Pakistan
        16.3.12. Bangladesh
        16.3.13. Singapore
        16.3.14. Philippines
        16.3.15. Vietnam
        16.3.16. Kazakhstan
        16.3.17. Azerbaijan
        16.3.18. Hong Kong SAR, China
        16.3.19. Macao SAR,China
        16.3.20. Myanmar
        16.3.21. Sri Lanka
        16.3.22. Uzbekistan
        16.3.23. Rest of Asia-Pacific
    16.4. Rest of The World
        16.4.1. Middle East
        16.4.2. Africa
17. Europe Electrical Components Market– Entropy
18. Europe Electrical Components Market– Industry/Segment Competition Landscape 
    18.1. Market Share Analysis
        18.1.1. Market Share by Product Type – Key Companies
        18.1.2. Market Share by Region – Key Companies
        18.1.3. Market Share by Country – Key Companies
    18.2. Competition Matrix
    18.3. Best Practices for Companies
19. Europe Electrical Components Market– Key Company List by Country Premium 
20. Europe Electrical Components Market- Company Analysis
20.1 ABB Ltd.
20.2 Siemens AG
20.3 Schneider Electric SE
20.4 General Electric Company
20.5 Eaton Corporation
20.6 Mitsubishi Electric Corporation
20.7 Hitachi, Ltd.
20.8 Panasonic Corporation
20.9 TE Connectivity Ltd.
20.10 Amphenol Corporation

"Financials to the Private Companies would be provided on best-effort basis."

Connect with our experts to get customized reports that best suit your requirements. Our 
reports include global-level data, niche markets and competitive landscape.