Image Source: Eaton
Structure of the Industrial Electrical Equipment Industry
Demand for products in the industrial electrical equipment space is highly cyclical, and industry constituents are exposed to volatile raw-material costs, which at times can be difficult to pass along to customers. Product development and quality initiatives are sources of competitive strengths, but rivals often compete aggressively on price to gain share. The industrial electrical equipment market should grow at a GDP-like pace in the developed world and a multiple of that trajectory in emerging markets. We’re neutral on the space.
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