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Extensive research carried out by the analysts at Technavio has shown that the electrical equipment market in Bosnia and Herzegovina will witness steady growth and will post a CAGR of more than 6% over the forecast period. With the growth of the housing market in the country, the electrical equipment market is anticipated to have a positive outlook in the coming years. Although the pace of recovery of the housing sector is slow, the real estate will grow steadily because of an increase in interest from international developers and investors. This recovery is contributing to a slow but steady increase in demand for electrical equipment.
The augmented demand for LED-based lighting products is one of the emerging trends driving this market’s growth during the forecast period. Manufacturers that cater to such residential end-users are focussing on the introduction of products with innovative designs and aesthetic appeal to enhance sales. Moreover, fluorescent tubes are being increasingly substituted with LED-based lighting systems, which will also contribute to this market’s growth during the predicted period. The government’s implementation of the National Energy Efficiency Action Plan in 2012 is also expected to aid in the increased adoption of energy-efficient systems such as LED-based lighting products.
The electrical and electronic wires and cables segment led the electrical equipment market in Bosnia and Herzegovina and accounted for more than 84% of the market shares in terms of revenue. Increasing demand from export markets in the EU is one of the key factors impelling the growth prospects of this market segment.
The electrical equipment market in Bosnia and Herzegovina is characterized by the presence of several well-established international and regional vendors. The majority of international players have increased in their footprint in the market through strong distribution strategies. As a result, the domestic manufacturers are finding it increasingly difficult to compete with international players in terms of quality, technology, and pricing. The competitive environment in this market will likely intensify with an increase in product/service extensions and technological innovations.
Key vendors in this market are -
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This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
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