$24.1bn
$X.Xbn
55,916
830
$X.Xbn
Power conversion equipment manufacturers have experienced revenue volatility because of fluctuating growth in downstream markets. Fluctuations in the value of the US dollar have also contributed to volatility by destabilizing demand for imports and exports. Construction companies use the industry’s products as inputs in their daily operations, so when this downstream activity increases, so does demand for power conversion equipment. Nonresidential construction and industrial production plunged during COVID-19 as the economy shut down, hindering revenue growth. Despite these factors, low interest rates buoyed demand from households, so revenue still inched upward in 2020. As the effects of the pandemic subsided, revenue recovered because of rising corporate profit and consumer spending. The return of employees to the office caused nonresidential to soar in 2023, fostering significant revenue growth in that year.
Industry revenue has grown at a CAGR of 3.3 % over the past five years, to reach an estimated $24.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Schneider Electric Se | 6,032.6 | 709.8 | 11.8 | |
Emerson Electric Co. | 3,329.6 | 545.7 | 16.4 | |
Eaton Corporation Plc | 1,555.5 | 280.2 | 18.0 |
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Industry revenue is measured across several distinct product and services lines, including Miscellaneous electronic systems and equipment, Carbon and graphite products and Laser systems, equipment and supplies. Miscellaneous electronic systems and equipment is the largest segment of the Power Conversion Equipment Manufacturing in the US.
Rising imports have negatively impacted demand for carbon and graphite products
Power conversion equipment manufacturers are companies that manufacture devices or systems that help transform electrical power from one form to another. Products offered include carbon and graphite products, laser systems, rectifiers, uninterruptible power supplies, extension and electrical equipment cords and capacitors. Customers served include manufacturers, businesses and households.
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NAICS 33599 - Power Conversion Equipment Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The recovery from COVID-19 was a boon for the US economy, but power conversion equipment manufacturers still faced challenges. Growth in nonresidential construction remained ...
Learn about an industry's products and services, markets and trends in international trade.
Uninterruptible power supply manufacturing has seen the strongest growth as they've become more important in a renewable electric grid. The growing prevalence of lithium-powe...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The West region contains the largest number of power conversion equipment manufacturers, led by California. California is home to downstream industries (e.g., electrical equi...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Imports dominate the industry, making foreign manufacturers a major source of competition. Another substitute is lithium batteries, but this only affects revenue for extensio...
Learn about the performance of the top companies in the industry.
The miscellaneous nature of the industry leaves room for a range of companies, including large legacy manufacturers and small start-ups. Despite this, market share concentrat...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers face significant regulations since power equipment must be standardized and meet certain safety requirements. These relate to the environment, medical devices, ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit declined in 2020 as COVID-19 hindered downstream demand for manufacturers. Profitability continued to creep downward during the current period as rising operating cost...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Power Conversion Equipment Manufacturing in the US industry in United States is $24.1bn in 2024.
There are 830 businesses in the Power Conversion Equipment Manufacturing in the US industry in United States, which has declined at a CAGR of 0.9 % between 2019 and 2024.
The market size of the Power Conversion Equipment Manufacturing in the US industry in United States has been growing at a CAGR of 3.3 % between 2019 and 2024.
Over the next five years, the Power Conversion Equipment Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Power Conversion Equipment Manufacturing market in United States are Schneider Electric Se, Emerson Electric Co. and Eaton Corporation Plc
Manufacturing electronic systems and equipment and Manufacturing carbon electrodes and contacts are part of the Power Conversion Equipment Manufacturing in the US industry.
The company holding the most market share in United States is Schneider Electric Se.
The level of competition is moderate and steady in the Power Conversion Equipment Manufacturing in the US industry in United States.