Electrical & Electronics Industry - Market Research Report

The global   electrical grid market   was valued at USD 268.27 billion in 2023 and is expected to reach USD 390.97 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2030. Market growth is primarily driven by the rising global demand for electricity, fueled by rapid urbanization, population growth, and accelerating industrial activities across both developed and emerging economies. As nations continue to expand their economic activities and infrastructure, the requirement for stable, reliable, and efficient electricity transmission and distribution systems is increasing, thereby supporting sustained investments in electrical grid development. Key Market Trends and Insights Asia Pacific accounted for over 45% of total revenue in 2023, making it the largest regional market. By source, the renewables segment captured the largest share, contributing over 30.0% of total revenue in 2023. By application, the generation segment dominated the market...

The global   electrical conduit market   was valued at USD 8.45 billion in 2025 and is expected to expand steadily, reaching USD 15.14 billion by 2033, registering a CAGR of 7.6% from 2026 to 2033. Electrical conduits are protective tubing systems designed to route, shield, and organize electrical wiring across residential, commercial, industrial, and infrastructure projects, ensuring safety, durability, and long-term system reliability. Electrical conduits play a critical role in safeguarding electrical networks by preventing wire damage, reducing fire risks, and complying with stringent building and electrical safety standards. Rising construction activities, modernization of power infrastructure, and increasing emphasis on organized wiring systems are key factors accelerating market demand globally. Key Market Trends & Insights North America accounted for the largest market share of 31.6% in 2025, driven by strong construction activity and strict safety regulations. The...

The global   electrical bushing market   was valued at USD 2.76 billion in 2023 and is projected to reach USD 3.67 billion by 2030, expanding at a CAGR of 4.25% from 2024 to 2030. Market growth is primarily driven by the rising demand for electricity across multiple applications, including electric vehicles (EVs), consumer electronics, and industrial systems. This increasing power demand is accelerating investments in power generation, transmission, and distribution infrastructure, thereby fueling the adoption of electrical bushings. Electrical bushings play a critical role in ensuring safe and efficient power flow between high-voltage equipment and grounded systems. Their importance continues to grow as global electricity consumption rises and grid infrastructure becomes more complex. Key Market Trends & Insights Asia Pacific accounted for the largest revenue share of 38.68% in 2023, driven by rapid industrialization, urban expansion, and growing power infrastructure inve...

The global   drone sensor market   was valued at USD 1.42 billion in 2023 and is expected to reach USD 2.67 billion by 2030, registering a compound annual growth rate (CAGR) of 10.0% from 2024 to 2030. Market expansion is primarily driven by the increasing demand for high-resolution drones equipped with advanced sensing capabilities across commercial, agricultural, defense, and security applications. The growing emphasis on accurate data acquisition, real-time analytics, and operational efficiency has positioned drone sensors as a critical component in modern unmanned aerial systems. Advancements in imaging, navigation, and environmental sensing technologies continue to accelerate adoption across diverse industries. Key Market Trends & Insights North America accounted for nearly 40% of total revenue in 2023, making it the largest regional market. The U.S. drone sensor market is projected to grow at a CAGR of approximately 8% from 2024 to 2030. Image sensors dominated the m...

The global   downhole tools market   was valued at USD 4.73 billion in 2023 and is projected to reach USD 6.56 billion by 2030, expanding at a CAGR of 4.8% from 2024 to 2030. Market growth is primarily driven by rising exploration and production activities within the oil and gas industry, supported by increasing global energy demand and ongoing investments in upstream operations. As operators continue to develop new wells and rejuvenate mature oilfields, downhole tools play a critical role in optimizing drilling efficiency, maintaining well integrity, and enhancing overall production performance. The increasing adoption of horizontal drilling and hydraulic fracturing techniques has intensified the demand for advanced and specialized downhole tools capable of managing the complexities associated with modern drilling environments. Key Market Trends & Insights North America accounted for the largest revenue share of 34.8% in 2023. Asia Pacific is anticipated to register the f...

The global   digital substation market   was valued at USD 7.39 billion in 2024 and is projected to reach USD 11.43 billion by 2030, expanding at a CAGR of 7.6% from 2025 to 2030. Market growth is primarily driven by the accelerating digital transformation across electricity generation, transmission, and distribution operations. Utilities are increasingly adopting digital technologies to improve operational efficiency, reliability, and safety through enhanced data collection, real-time monitoring, and advanced analytics. Digital substations replace conventional copper wiring with fiber-optic communication and integrate intelligent electronic devices (IEDs), enabling faster decision-making and optimized grid performance. These systems support automation, predictive maintenance, and improved asset management, making them a critical component of modern power infrastructure. Key Market Trends and Insights Asia Pacific dominated the global digital substation market, accounting for ...