Ranging from power generation to all the other necessities like industrial power builders and kitchen essentials and machinery including computers, the trade of electrical machinery and equipment has gained a tremendous hike in the past few years and has been recorded as one of the highest sought commodities among all the other globally traded products. Due to the multipurpose necessities of electrical machinery and equipment the trade rate is expanding on a rapid reach.

Different types of electrical equipment like circuit breakers, magnetic starters, panel boards, transformers, generating sets, contactors, enclosures, and many others are traded at a higher rate to cater to the domestic and international requirements of different nations and their export trade. The globally sought commodity has recorded a total global consumption rate of 8 trillion US dollars in 2023 with an increase in technological advancements, industrial growth, and energy-efficient products. The import and export trade rate of electrical machinery and equipment have also gained a significant hike in the current year 2023 which has recorded an import and export value of 3 trillion US dollars and 4 trillion US dollars.

Top Importers of Electrical Machinery and Equipment 2023

The rapidly advancing industrial trade of electrical machinery and equipment is mainly because of the higher effectiveness of such equipment in the entire industrial field. They are beneficial in almost all sectors ranging from power households to industrialists and many others including kitchen households. As per the Global Electrical Machinery and Equipment Trade Data, the top importers of the nation with its trade values of 2023 are discussed below,

• China – According to China Customs Data, the total revenue of imports in 2023 is 800 billion US dollars.

• United States – According to USA Customs Data, the total revenue of imports in 2023 is 500 billion US dollars.

• Germany – According to German Customs Data, the total revenue of imports in 2023 is 400 billion US dollars.

• Japan – According to Japan Customs Data, the total revenue of imports in 2023 is 200 billion US dollars.

• South Korea – According to South Korea Customs Data, the total revenue of imports in 2023 is 150 billion US dollars.

• United Kingdom – According to United Kingdom Customs Data, the total revenue of imports in 2023 is 100 billion US dollars.

• France – According to France Customs Data, the total revenue of imports in 2023 is 80 billion US dollars.

• India – According to India Customs Data, the total revenue of imports in 2023 is 70 billion US dollars.

• Canada – According to Canada Customs Data, the total revenue of imports in 2023 is 50 billion US dollars.

• Mexico – According to Mexico Customs Data, the total revenue of imports in 2023 is 40 billion US dollars.

Top Exporters of Electrical Machinery and Equipment 2023

Both the import and export trade businesses of this globally sought commodity are in the highest demand nowadays mainly because of its huge effectiveness in the industrial regions. As per the Global Electrical Machinery and Equipment Data, the top exporters of Electrical machinery with trade values of 2023 are discussed below,

• China – As per the Canada Export Data, the overall export revenue of electrical equipment in 2023 is 500 billion US dollars.

• Germany – As per the Germany Export Data, the overall export revenue of electrical equipment in 2023 is 200 billion US dollars.

• United States – As per the USA Export Data, the overall export revenue of electrical equipment in 2023 is 150 billion US dollars.

• Japan – As per the Japan Export Data, the overall export revenue of electrical equipment in 2023 is 80 billion US dollars.

• South Korea – As per the South Korean Export Data, the overall export revenue of electrical equipment in 2023 is 70 billion US dollars.

• Mexico – As per the Mexico Export Data, the overall export revenue of electrical equipment in 2023 is 60 billion US dollars.

• Italy – As per the Italy Export Data, the overall export revenue of electrical equipment in 2023 is 50 billion US dollars.

• France – As per the France Export Data, the overall export revenue of electrical equipment in 2023 is 42 billion US dollars.

• Canada – As per the Canada Export Data, the overall export revenue of electrical equipment in 2023 is 35 billion US dollars.

• India – As per the India Export Data, the overall export revenue of electrical equipment in 2023 is 28 billion US dollars.

Top Leading Producers of Electrical Machinery and Equipment

The higher the global consumption rate the more will be the industries manufacturing the same product for increasing their product revenues. According to the Global Electrical Machinery and Equipment Trade Data, the rise of this globally sought industrial commodity has led different countries to invest in its manufacturing. The top producers with trade values of 2023 are discussed below,

• Siemens – Total traded value of 2023 – 90 billion US dollars.

• ABB – Total traded value of 2023 – 43 billion US dollars.

• General Electric – Total traded value of 2023 – 35 billion US dollars.

• Schneider Electric – Total traded value of 2023 – 28 billion US dollars.

• Hitachi – Total traded value of 2023 – 26 billion US dollars.

• Honeywell International Inc – Total traded value of 2023 – 24 billion US dollars.

• Mitsubishi Electric – Total traded value of 2023 – 23 billion US dollars.

• Toshiba Corporation – Total traded value of 2023 – 20 billion US dollars.

• Emerson Electric Co – Total traded value of 2023 – 18 billion US dollars.

• Eaton Corporation – Total traded value of 2023 –12 billion US dollars.

FAQ’s

Que. What is the global consumption rate of electrical machinery and equipment in 2023?
Ans. The global consumption rate of electrical machinery and equipment in 2023 is 8 trillion US dollars.

Que. Who is the top producer of electrical machinery and equipment in 2023?
Ans. Siemens is the top producer of electrical machinery and equipment in 2023.

Que. Where can you get the detailed trade statistics of electrical machinery and equipment trade in 2023?
Ans. At Import Globals, you can get detailed trade statistics of electrical machinery and equipment trade in 2023.

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