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October 2026
Largest Electrical Parts & Equipment Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Siemens, Amphenol, CATL, ABB and Schneider Electric.
 | Siemens is a German industrial technology group headquartered in Munich that supplies automation, electrification, rail and healthcare equipment, software and services. It was founded in Berlin on October 1, 1847 by Werner von Siemens and Johann Georg Halske as Telegraphen-Bauanstalt von Siemens & Halske. The group reports through Digital Industries (factory automation and industrial software), Smart Infrastructure (buildings and electrical distribution), Siemens Mobility (rolling stock, signalling and rail systems) and Siemens Financial Services, and holds about 75% of separately listed Siemens Healthineers. It sells mainly to manufacturers, utilities, infrastructure owners, transit operators and hospitals, and in fiscal 2025 generated revenue of €78.9 billion and net income of €10.4 billion with about 327,000 employees. In 2020 it spun off Siemens Energy, keeping a 17.1% stake, and bought Varian Medical Systems for US$16.4 billion; in 2025 it added Altair Engineering for about US$10 billion, its largest acquisition, and Dotmatics for US$5.1 billion. Roland Busch has been chief executive since February 2021, and the shares trade on the Frankfurt Stock Exchange as a DAX member. | $304 | +7% | $233B | $271B | 3.1x | 18.4x | ||
 | Amphenol is a United States manufacturer of electrical, electronic and fiber-optic interconnect products, sensors and cable systems. Its connector portfolio supports applications involving high-speed data, electrical power, radio-frequency signals and operation in demanding environments. The company also supplies cable assemblies, wiring harnesses, antennas, power distribution components and flexible or rigid printed circuit boards. Its sensors measure conditions such as pressure, temperature, position, moisture and vibration. Customers use these products in automotive systems, industrial equipment, communications networks, computing infrastructure, aerospace and other electronic applications. Revenue comes from sales of components and assemblies to business customers that incorporate them into larger products and systems. Amphenol offers both standard products and customized designs, with manufacturing and technical capabilities supporting customers across international markets. | $79 | -43% | $196B | $209B | 9.1x | 30.4x | ||
 | CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for electric vehicle and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life, and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling. | $41 | -24% | $195B | $157B | 2.5x | 9.8x | ||
 | ABB is a Swiss-Swedish electrification and automation group headquartered in Zurich and incorporated in Switzerland as ABB Ltd. It was formed in 1988 by the merger of Sweden's ASEA, founded in 1883, and Switzerland's Brown, Boveri & Cie, founded in 1891, creating a group with about $15 billion of revenue and 160,000 employees at the time. Its roughly 20 divisions sit in four business areas: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. It sells electrical distribution products such as circuit breakers, motors and drives, industrial robots and automation systems to industrial, utility, building and infrastructure customers. ABB sold its power grids business to Hitachi in 2020, spun off its turbocharging business in 2022, and in October 2025 agreed to sell its industrial robotics unit, with about 7,000 employees and $2.3 billion of 2024 revenue, to SoftBank Group for $5.4 billion. Major 21st-century acquisitions include Baldor Electric, Thomas & Betts and GE Industrial Solutions. The shares are listed on the SIX Swiss Exchange and Nasdaq Stockholm, and Morten Wierod has been chief executive since August 2024. | $92 | +23% | $166B | $169B | 5.1x | 24.5x | ||
 | Schneider Electric is a French energy technology company headquartered in Rueil-Malmaison, near Paris, whose products cover electrification, automation and digitalisation for buildings, homes, data centers, infrastructure and industry. It sells electrical distribution equipment, switches and sockets, building and home automation, industrial control and process safety systems, grid automation, critical power and cooling for data centers, and energy management and industrial software, under brands including Square D, APC, AVEVA, Clipsal, Merlin Gerin, Telemecanique and Modicon. The company earns most of its revenue from product and system sales to distributors, panel builders, contractors, utilities, data-center operators and industrial customers. It reported revenue of 40.15 billion euros and net income of 4.35 billion euros for 2025 and employed about 177,000 people in 2024. Schneider Electric is registered as a Societas Europaea, trades on Euronext Paris as part of the CAC 40 and Euro Stoxx 50 indices, and is led by chief executive Olivier Blum and chairman Jean-Pascal Tricoire. Its history begins in 1836, when brothers Adolphe and Eugène Schneider took over an iron foundry in Le Creusot and founded Schneider-Creusot, a maker of steel, heavy machinery and transport equipment that later refocused on electrical equipment. | $285 | 0% | $160B | $177B | 3.9x | 19.2x | ||
| Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets. Eaton’s portfolio can broadly be divided into two parts: its electrical and industrial businesses. Its electrical portfolio (representing around 70% of company revenue) sells components within data centers, utilities, and commercial and residential buildings, while its industrial business (30% of revenue) sells components within commercial and passenger vehicles and aircraft. Eaton receives favorable tax treatment as a domiciliary of Ireland, but it generates over half of its revenue within the US. | $391 | +2% | $152B | $173B | 6.3x | 27.9x | ||
 | Delta Electronics (Thailand) PCL manufactures and distributes power supplies, electronic equipment, and components such as DC fans, EMI filters, solenoids, etc. The group's reportable segments are: Power electronics, Mobility, Infrastructure, Automation, and Others. The majority of its revenue is generated from the Power electronics segment, which designs, manufactures, and sells power supplies applied to computer, server, office automation equipment, and household electric appliances. The Mobility segment makes EV power systems, the Infrastructure segment builds ICT and energy systems, and the Automation segment offers industrial and building automation. Geographically, the group generates maximum revenue from the United States, followed by Singapore, Germany, Taiwan, and other markets. | $7 | +12% | $94B | $93B | 15.7x | 84.5x | ||
| Vertiv has roots tracing back to 1946 when its founder, Ralph Liebert, developed an air-cooling system for mainframe data rooms. As computers started making their way into commercial applications in 1965, Liebert developed one of the first computer room air conditioning, or CRAC, units, enabling the precise control of temperature and humidity. The firm has slowly expanded its data center portfolio through internal product development and the acquisition of thermal and power management products like condensers, busways, and switches. Vertiv has global operations today; its products can be found in data centers in most regions throughout the world. | $206 | +7% | $79B | $80B | 7.8x | 37.3x | ||
 | LG Energy Solution is the third-largest battery maker for electric vehicles with about 11% global share in 2024, according to SNE Research. The EV battery segment is the largest revenue contributor, which accounted for more than 60% of total revenue in 2024. LGES also manufactures batteries for mobility, mobile phones, laptops, electrical devices, and energy storage systems. The company was spun off from LG Chem’s battery division in December 2020 and listed on the Korea Exchange in January 2022. It has global manufacturing facilities in Korea, China, Poland, and the United States. Key customers include General Motors, Tesla, Volkswagen, Hyundai, and Stellantis. | $301 | -9% | $70B | $93B | 5.2x | 26.4x | ||
| Bloom Energy is a San Jose-based energy-technology company founded in 2001. It designs and manufactures solid-oxide fuel-cell systems that generate electricity on site from natural gas, biogas or hydrogen without conventional combustion. Commercial and government customers use Bloom Energy Servers for resilient distributed power at data centres, industrial sites, campuses and other facilities. The company also develops electrolyser systems for hydrogen production and provides installation and long-term service support. Revenue comes from equipment and installation sales, electricity arrangements and recurring service contracts. Bloom was privately held when NZ Super Fund made its 2013 and 2014 investments and later became publicly listed, but the recorded transactions concern its private growth phase. | $221 | +67% | $65B | $65B | 32.3x | (4658.0x) | ||
 | Mitsubishi Electric is a Tokyo diversified industrial manufacturer founded in 1921 and publicly listed in Japan. It designs and sells factory-automation equipment, power and energy systems, building systems, transportation products, automotive equipment, semiconductors, communications equipment and consumer appliances. Industrial companies, utilities, infrastructure operators, governments, commercial-building owners and households use its products. Revenue comes primarily from equipment and component sales, supported by installation, maintenance, engineering and other services. The group operates manufacturing, research, sales and service networks across Asia, Europe, the Americas and other regions. Its space and defence business supplies satellite, communications and related aerospace systems. Mitsubishi Electric also invests strategically where partnerships can expand technology and commercial access. It co-invested with COFIDES in PLD Space's 2026 Series C financing and was identified as a lead investor in that round. | $32 | +13% | $65B | $63B | 1.7x | 13.5x | ||
| Founded in 2004, Luxshare Precision is one of the world’s largest manufacturers of cables and connectors and is a major supplier to Apple, which accounts for over 50% of revenue. Of Luxshare’s 2025 sales, 80% is derived from the consumer electronics end market, while the remaining 20% is spread across the computer, communication, and automobile verticals. In nonconsumer businesses, Luxshare supplies cooling systems, optical interconnects, cables, power supplies, and other electric hardware. Luxshare employs almost 420,000 people. It has 105 manufacturing bases in 29 countries, with the largest clusters in China and Vietnam. | $7 | -25% | $51B | $64B | 1.3x | 12.7x | ||
| Fujikura is a Japanese wire, cable, and electronics manufacturer headquartered in Koto-ku, Tokyo, with four core segments. Telecommunications systems encompass optical fibers, cables, and components, and Fujikura was a pioneer in Japanese fiber-optic research. In 1985, it introduced the first fusion splicer to the market and now claims to hold the number-one market share globally. In its automotive products division, Fujikura makes wire harnesses. Power systems cover power cables, aluminum wires, and enameled wires, and electronics cover flexible printed circuits, wiring, and connectors. Fujikura operates globally, with 40% of revenue from domestic customers. Its wholly owned US subsidiary AFL manufactures and sells optical fiber cables and components for the North American market. | $28 | +24% | $47B | $47B | 6.3x | 32.0x | ||
| Carrier Global, spun out of United Technologies in 2020, manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its flagship Carrier brand, as well as Bryant, Payne, Heil, and others across various price points. In 2024, Carrier acquired Viessmann Climate Solutions to expand its footprint in Europe with heat pumps, boilers, and solar PV equipment. Proceeds from the sale of Carrier’s fire and security (Honeywell) and commercial refrigeration (Haier) businesses reduced debt and focused the company on global HVAC and refrigeration solutions. Carrier generates 75% of sales from equipment and 25% from parts and services. The company derives 50% of revenue from the US, 30% from Europe, and 20% from the Asia-Pacific region. | $55 | -8% | $45B | $57B | 2.6x | 16.5x | ||
| Sumitomo Electric Industries Ltd manufactures and sells electric wires and cables, and other products. The company operates through five segments. The Automotive related business covers wire harnesses, anti-vibration rubber, hoses, electrical parts, and traffic control systems. The Electronics related business provides electronic wires, flexible printed circuits, fluoropolymer products, and metal components. The Environment and Energy related business handles power transmission equipment, substation systems, vacuum and beam equipment, and conductive products. The Industrial Materials business includes steel wire, tools, optical components, and sintered parts. The Information and Communication business offers fiber optic cables, communication equipment, and optical devices. | $13 | +46% | $42B | $45B | 1.4x | 9.7x | ||
 | WEG SA is a Brazilian electrical engineering and automation company listed on the B3 exchange and headquartered in Jaragua do Sul, Santa Catarina. It was founded on 16 September 1961 by Werner Ricardo Voigt, Eggon Joao da Silva and Geraldo Werninghaus, and its name is an acronym of their initials. The company makes electric motors, generators, transformers, drives, industrial automation and control products, gearboxes, switchgear, wind turbines, battery storage systems and coatings and varnishes. In 2025 its net revenue reached R$40.8 billion, of which 59 percent came from markets outside Brazil. It has grown through acquisitions across Europe, Asia, Africa and the Americas, the largest being the 2023 purchase of the industrial motors and generators business of Regal Rexnord for USD 400 million. Alberto Kuba serves as chief executive and Decio da Silva as chairman, and the company keeps a United States base in Duluth, Georgia. | $9 | +21% | $40B | $39B | ||||
| Legrand is a French manufacturer of electrical and digital building infrastructure headquartered in Limoges. Its operating business dates to 1904, while the current listed holding company was incorporated in December 1998. The group supplies wiring devices, electrical installation products, cable management systems, data and communications infrastructure, power-distribution equipment and building-control solutions. Its products are used in residential, commercial and industrial buildings, including data centers. Legrand sells manufactured products through electrical distributors and other channels serving installers and professional customers. The group expanded internationally through acquisitions of local and specialist manufacturers, adding product technologies and distribution positions. KKR and Wendel acquired the business from Schneider Electric, and Legrand returned to the stock market in 2006. KKR disposed of its remaining shares in March 2012 while Legrand continued as an independent listed operating group. | $151 | -13% | $39B | $46B | ||||
 | Prysmian SpA is an Italian manufacturer of electric power transmission and telecommunications cables and systems. Its business is organized in three segments--Projects, which focuses on the execution of underground and submarine cable projects; Energy Products, which provides power distribution, and industrial and network components; and Telecom, which makes cable systems and connectivity products. More than half of the firm's revenue is generated in the Europe, Middle East, and Africa regions, with the rest coming from North America, Latin America, and Asia-Pacific regions. | $123 | +18% | $37B | $42B | ||||
 | Yageo is a Taiwanese manufacturer of passive electronic components used in electronic circuits. Its products include resistors, capacitors and inductors that manage electrical signals, voltage and current in customer products. The business supplies electronics manufacturers and supply-chain customers across consumer electronics and industrial applications. It earns revenue from the manufacture and sale of physical electronic components. Yageo is listed on the Taiwan Stock Exchange, and its global depositary receipts were also traded in Luxembourg at the time of KKR’s investment. In June 2007 KKR acquired zero-coupon convertible instruments due in 2014, providing an investment exposure that could convert into newly issued common shares or depositary receipts. Counsel described the instruments as representing a potential 16.1 percent shareholding upon full conversion based on the then-current capital structure. The investment therefore initially involved convertible securities rather than an immediately completed acquisition of that percentage of ordinary shares. | $18 | +116% | $36B | $38B | ||||
| Ibiden Co Ltd is a provider of electronic and ceramic products. The company operates through three segments: Ceramic, Electron, and other. The Ceramic segment provides environment-related ceramics products, graphite and specialty products, ceramic fibre, and fine ceramics products. The Electron segment offers package substrates in computers, information technology infrastructure, mobile device wiring boards, mobile devices, and home appliances. The other segment includes the processing of agriculture, livestock, and fisheries, the sale of oil products, and synthetic resin production. It generates the majority of its revenue from the Electronic segment. | $62 | +31% | $35B | $34B | ||||
| Wus Printed Circuit (Kunshan) Co Ltd is a China-based company. It is principally engaged in the manufacture, distribution, and after-sales services of printed circuit boards (PCBs). | $17 | +70% | $33B | $33B | ||||
| Samsung SDI is one of the top suppliers of lithium-ion rechargeable batteries, providing cylindrical batteries for consumer electronics products such as laptops, polymer rechargeable batteries for smartphones and tablets, and has been focusing its resources to establish its footprint on automotive rechargeable batteries. The company is the second-largest supplier of batteries for consumer electronics products, and the eighth player in automotive batteries. The company also offers electronic materials for semiconductors and flat-panel displays, making it an important internal supplier for Samsung Electronics. | $396 | +76% | $31B | $41B | ||||
| Jabil Inc. is a U.S based company providing engineering, manufacturing, and supply chain solutions. It provides comprehensive electronics design, production, and product management services to companies in various industries and end markets. It operates through three segments: Regulated Industries, serving automotive, healthcare, and renewables; Intelligent Infrastructure, focused on AI, cloud, data centers, and communications, driving the majority of revenue; and Connected Living and Digital Commerce, specializing in digitalization and automation, such as robotics and warehouse automation. The company operates in the U.S., Mexico, China, Malaysia, Singapore, and several other markets. | $278 | +26% | $29B | $31B | ||||
| NARI Technology Co Ltd is engaged in providing power & automation technologies in China. It operates in areas of power system automation, smart grid, renewable energy, railway automation, industrial control, & energy conservation & environment protection. | $3 | 0% | $27B | $25B | ||||
| Founded in 1888 by Harvey Hubbell, the eponymous company was the conduit through which the pull-chain lamp socket was originally sold. Hubbell has since grown into an electricity transmission and distribution behemoth, housing more than 75 brands that sell components found on power lines, in electrical substations, and in commercial and industrial buildings. The company's primary operations are in the United States, where around 90% of revenue is derived. | $461 | -2% | $24B | $30B | ||||
| China-based Sungrow manufactures and sells power supply equipment for the new energy industry. It offers a wide range of products, including solar inverters, energy storage systems, wind power converters, electric vehicle drives, among others. It is one of the largest suppliers of solar inverters and energy storage systems globally. It is also one of the largest new energy project developers in the world. Solar inverters, energy storage systems, and new energy investment and development segment each accounted for 37%, 32%, and 27% of revenue in 2024, respectively. | $12 | -57% | $24B | $20B | ||||
| Lasertec is a Japan-based manufacturer of mask inspection equipment used to identify defects in photomasks, which are a key component in lithography during front-end semiconductor manufacturing. Lasertec is the largest player in the mask inspection industry, with a global market share of 49% as of 2025. The company also has a dominant position in actinic mask inspection, a type of advanced inspection process required for photomasks that is used in cutting-edge EUV and high-NA EUV lithography, with over a 90% global market share. Lasertec’s main customers include foundry and memory leaders such as TSMC, Intel, and Samsung Electronics. | $261 | +41% | $23B | $23B | ||||
 | NVent is a leading global provider of electrical connection and protection solutions that touch a broad range of end markets, including infrastructure, industrial, commercial, and residential. NVent designs, manufactures, markets, installs, and services a portfolio of electrical enclosures and electrical fastening solutions. North America accounts for the majority of sales. | $142 | +24% | $23B | $24B | ||||
| Inovance is a leading Chinese industrial automation and new energy parts supplier. It offers a wide array of industry automation products such as variable frequency drives, servo systems, program logic controllers, and industrial robots. It also supplies electric drive and power supply systems for new energy vehicles. Inovance generates more than 90% of its revenue from China. | $7 | -31% | $20B | $19B | ||||
| Woodward Inc is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. It designs, produces, and services reliable, efficient, low-emission, and high-performance energy control products for diverse applications in challenging environments. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servo controls, motors, and sensors for aircraft. The Industrial segment offers actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors. | $328 | +25% | $19B | $20B | ||||
| Zhen Ding Technology Holding Ltd manufactures printed circuit boards, including high-density interconnection, flexible printed circuits, rigid printed circuit boards, and integrated circuit substrates. These products are used in a variety of applications, including personal computers, watches, memory and data cards, smartphones, tablets, media players, televisions, digital and video cameras, and game consoles. The company's customers include the telecommunications, electronics, automotive, medical equipment, military equipment, and space industries. The company generates all of its revenue from the manufacturing of PCB products of which key revenue is derived from the USA region followed by mainland China and others. | $17 | +254% | $19B | $20B | ||||
 | Samvardhana Motherson International Ltd is a manufacturer of automotive wiring harnesses and plastic components and modules. The products include wiring harnesses, mirrors for passenger cars, injection molded products, modules including dashboards, door trims, bumpers, blow moulded components, liquid silicone rubber molded components, injection molding tools, extruded rubber products, precision machined metal components, and others. The company has five reportable segments such as Wiring Harness, Modules and polymer products, Integrated Assemblies, Vision systems and Emerging businesses. It derives majority of the revenue from Modules and polymer products segment which is engaged in manufacturing and supplies of plastic parts and system modules for vehicle interiors and exteriors. | $2 | +42% | $18B | $19B | ||||
| EVE Energy Co Ltd is a China-based enterprise mainly engaged in the research, manufacturing, and sale of consumer batteries, power batteries, and energy storage batteries. Its consumer battery portfolio includes lithium primary cells, compact lithium-ion batteries, and cylindrical batteries, applied in both consumer and industrial sectors such as smart metering, smart home devices, automotive electronics, and more. The company’s power batteries consist of products and systems for new energy passenger vehicles, serving applications in passenger cars, commercial vehicles, engineering machinery, and related fields. Its energy storage batteries are utilized in power, industrial, and commercial energy storage solutions, among other applications. | $7 | -40% | $15B | $18B | ||||
| ABB India Ltd enables a more sustainable and resource-efficient future with the technology leadership in electrification and automation. It energizes the transformation of society and industry to achieve a more productive, and sustainable by connecting software to its electrification, robotics, automation, and motion portfolio. The company's revenue is split between its four operating segments: Robotics and Discrete Automation, Electrification, Motion, and Process Automation. The company has several manufacturing sites located in India, and the majority of its revenue is generated in India. | $72 | +22% | $15B | $14B | ||||
| Furukawa Electric is a Japanese diversified manufacturer and one of the country's oldest wire and cable makers. It operates across several segments: digital infrastructure components (thermal management, distributed feedback lasers), optical solutions (fiber, cables, ferrules), automotive systems (wiring harnesses), metal solutions (copper products, superconductors), and energy infrastructure (HVDC power cables, submarine). Its main markets include telecommunications carriers, data center and network infrastructure operators, and automotive OEMs, with significant exposure to both Japan and overseas markets including North America and Asia. Furukawa has increasingly positioned optical connectivity as a core growth driver amid rising data traffic and AI-related demand. | $21 | +198% | $15B | $17B | ||||
| HD Hyundai Electric is a manufacturer and supplier of electrical equipment. It supplies a wide range of electrical equipment, including power and distribution transformers, gas-insulated systems, MV/LV switchgears, motors, generators, and circuit breakers. The company also delivers marine electrical solutions and energy storage systems, and offers eco-focused products under its GREENTRIC line, such as SF6-free equipment and high-efficiency motors. | $386 | -37% | $14B | $13B | ||||
| Sieyuan Electric Co Ltd is a China-based company that provides electrical equipment and services. The group mainly specializes in the research and development of electric power technology, equipment manufacturing, and engineering services. Siyuan Electric's business involves power, metallurgy, railway, petrochemical, coal, port, and other industries. The products offered by the company include capacitors, reactors, high voltage SVG, Intelligent terminal, auxiliary system, string harmonic, oil chromatography, UV imager, and others. Geographically, it holds a presence in both the Chinese and international markets. | $18 | -4% | $14B | $13B | ||||
| Siemens Ltd produces systems and solutions for electrification, automation, and digitalization. The company's business segments are; Energy, Smart Infrastructure, Mobility, Digital Industries, and others. The Smart Infrastructure segment derives maximum revenue which functions as a supplier of products, systems, solutions, and services for the transmission and distribution of electrical energy for power utilities, industrial companies, and infrastructure segments. The products and services portfolio under this segment includes systems for low and medium-voltage distribution, solutions for smart grids and energy automation, low-voltage power supply systems, provides intelligent and connected infrastructure for grids and buildings. Geographically, it derives maximum revenue from India. | $38 | +9% | $14B | $13B | ||||
| Jiangsu Zhongtian Technology Co Ltd is a China-based company engaged in the manufacturing and distribution of fiber-optic communication and power-transmission products. Its products include power cables, fittings, insulators, arresters, conductors, aluminum-clad steel wires, transformers, and power switch gears; optical fibers, optical fiber cables, coaxial cables, and antennas; and submarine composite and FO cables, submarine cable accessories, and ROV cables. The company also offers marine and offshore cables, lithium-ion batteries, solar cell backsheets, photovoltaic technology products, alloy materials, optical fiber, and optical cable machines. | $4 | +67% | $14B | $12B | ||||
| Fuji Electric Co Ltd is a Japanese electrical equipment manufacturer and distributor. The company operates through four segments. The Energy segment covers geothermal, hydro, thermal, fuel cells, photovoltaic, wind power, substation equipment, storage systems, UPS, and control equipment. The Food Distribution segment provides vending machines, store equipment, and money-handling systems. The Industry segment includes inverters, FA components, sensors, FA systems, nuclear power systems, railway and ship systems, electrical works, air conditioning, and ICT equipment. The Semiconductor segment focuses on industrial and automotive power semiconductors, while Others includes financial services, real estate, insurance, travel, and printing services. | $90 | +25% | $13B | $13B | ||||
| Polycab India Ltd is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods under the POLYCAB brand. The business activities are carried out through Wires and cables, Fast moving electrical goods (FMEG), and the EPC segment. It generates maximum revenue from the Wires and cables segment. Geographically, it derives a majority of revenue from India. Some of its products include Power cables, Control Cables, Instrumentation Cables, Optical Fibre Cables (OFC), Solar Cables, Building Cables, Flexible Wires, and others. | $87 | 0% | $13B | $13B | ||||
| Lennox International manufacturers and distributes heating, ventilating, air conditioning, and refrigeration products for the North American replacement (75% of sales) and new construction (25% of sales) markets. Residential HVAC (home comfort solutions) accounted for 67% of sales and commercial HVAC (building climate solutions) accounted for the remaining 33% of sales. To be clear, Lennox’s commercial exposure is what its peers refer to as “residential and light commercial,” lacks the scale and complexity of what is referred to as an “applied” solution. The company goes to market with multiple brands, but Lennox is the company’s flagship HVAC brand. | $358 | -29% | $12B | $14B | ||||
| Rexel SA is a provider of electrical products and services to residential, nonresidential, and industrial markets. The product offering includes electrical equipment such as appliances and accessories, cables and routing, lighting, security and communication, home automation, climate control, and building management systems used in the construction, renovation, and maintenance of buildings and infrastructures. Clients include small and midsize installers, large installers and facility managers, commercial companies, and industrial customers. Rexel has three operating segments; Europe, North America, and Asia-Pacific, out of which a majority of its revenue is derived from Europe. | $38 | +8% | $12B | $17B | ||||
| Belimo Holding AG is engaged in the development, production, and sales of field devices for the energy-efficient control of heating, ventilation, and air-conditioning system. The focus of the core business is on damper actuators, control valves, sensors, and meters, such as fire damper actuators, valve actuators, globe valves, throttle valves, duct sensors (air), and outdoor sensors (air), among others. The company, along with its subsidiaries, has four reportable operating segments: EMEA, Americas, Asia Pacific, and Shared Services. Maximum revenue for the company is generated from the Americas. | $930 | -14% | $11B | $11B | ||||
| Huagong Tech Co Ltd produces, sells, and provides technical services for products centered on laser technology, computer software and system integration technology, and PTC technology. The company's main products include laser processing equipment and intelligent manufacturing production lines, laser holographic film series products, optoelectronic device series products, sensitive components, and others. | $11 | +1% | $11B | $12B | ||||
| Anhui Tongguan Copper Foil Group Co Ltd is engaged in the research and development, manufacturing and sales of various high-precision electronic copper foils. | $13 | +151% | $11B | $11B | ||||
| Jonhon Optronic Technology Co Ltd provides outdoor fiber, outdoor power supply, low-frequency signal, RF, board-to-board power supply, board-to-board high-speed, I/O power supply, and other interconnect solutions for wireless base stations. Its products are used for electrical and signal connection in outdoor antennas, RRU/AAU, BBU, small cells, and other equipment. | $5 | -1% | $10B | $10B | ||||
| Regal Rexnord Corp is in the engineering and manufacturing of industrial powertrain solutions, power transmission components, electric motors, electronic controls, air-moving products, and specialty electrical components and systems, serving customers around the world. The three operating segments include Automation & Motion Control (AMC) segment; Industrial Powertrain Solutions (IPS) segment, which derives maximum revenue; and Power Efficiency Solutions (PES) segment. Geographically, the company operates in North America, Europe, Asia, and Rest of the world, of which it derives maximum revenue from North America. | $154 | +9% | $10B | $15B | ||||
| CETC Lantian Technology Co Ltd is mainly engaged in the research and development, production, sales, and services of electrical energy materials, products, and systems. Its business areas include physical power supplies, chemical power supplies, power supply systems, and other upstream and downstream products in the power supply chain. | $6 | -- | $9.7B | $9.4B | ||||
| Littelfuse is a primary provider of circuit protection products (such as fuses and relays) for the transportation, industrial, telecommunications, and consumer electronics end markets. The company is also increasing its power semiconductor business, where it predominantly serves industrial end markets, and is breaking into electric vehicle charging infrastructure. Littelfuse has 17,000 global employees. | $381 | +57% | $9.7B | $9.8B | ||||
| Advanced Energy Industries Inc provides precision power conversion, measurement, and control solutions. The company designs, manufactures, sells, and services power electronics conversion products that transform raw electrical power into controllable, usable power for complex equipment. It operates in one reporting segment, Power Electronics Conversion Products, serving the Semiconductor Equipment, Data Center Computing, Industrial and Medical, and Telecom and Networking markets. Its products include Plasma Power Products, AC-DC Power Supply Units, DC-DC Converters, High Voltage solutions, SCR Power Controllers, and Sense and Measurement solutions. The company operates in the United States, Asia, Europe, and other regions. | $238 | +18% | $9.5B | $9.5B | ||||
| Taiyo Yuden produces passive components for electronic devices. Passive components are used to enable wireless communication, store electricity, handle electric flow, remove electromagnetic noise from circuits, and so on. Passive components are imperative for electronic circuits—for instance, one high-end smartphone contains more than 1,000 passive components. Taiyo Yuden is the global third multilayer ceramic capacitor supplier, with a low-teens market share. | $64 | +124% | $8.4B | $8.7B | ||||
| Ecopro Co Ltd is engaged in the battery materials business, mainly serving the lithium-ion battery industry. The company operates through two reportable segments: Battery Materials business and Other business. The Battery Materials business segment focuses on cathode materials, the core components used in lithium-ion batteries, and also covers precursors, lithium, and recycling activities related to the cathode materials business. | $61 | -1% | $8.2B | $13B | ||||
| SUPCON Technology Co Ltd provides technologies and products with automation control systems as the core, covering industrial software, automation instruments and operation and maintenance services. | $10 | +38% | $8B | $7.5B | ||||
| Havells India Ltd manufactures and distributes electrical equipment for consumer and industrial applications. Its product portfolio includes fans, appliances, switches, lighting, switch gears, circuit breakers, water heaters, air purifiers, flexible cables, air coolers, monoblock and submersible pumps, personal grooming products, motors, and reactive power solutions. The firm has seven manufacturing facilities, all of which are in India. The company operates in multiple segments: switchgear (domestic and industrial), Cables (domestic and industrial underground), Lighting and Fixtures (LED lamps), Electrical Consumer Durables (fans, water heaters), Lloyd Consumer products (air conditioners, televisions), and Others (industrial motors, water purifiers). | $12 | -30% | $7.4B | $7.2B | ||||
| Yaskawa Electric manufactures and sells servo motors, AC drives (inverters), industrial robots, and other motor-based products. It operates mainly in Asia, the Americas, and Europe, the Middle East, and Africa. According to the company, it has the leading global share with AC servo motors/controllers, its cumulative AC servo motor shipments reached 20 million units in 2020, and it is also considered as one of the big four industrial robotics companies. The company was founded in 1915, and its head office is in Kitakyushu, Fukuoka Prefecture, Japan. | $28 | +1% | $7.2B | $7.6B | ||||
| Fortune Electric Co Ltd principally manufactures, processes, and trades transformers, distribution panels, low voltage switches, and substation equipment. The group's reporting segments are the Electrical department and the Turnkey department (Construction department). The majority of its revenue is generated from the Electrical department, which manufactures, processes, and trades transformers, distributors, low-pressure switches, and substation equipment. The Turnkey department mainly engages in engineering contracts. | $20 | -4% | $7B | $6.9B | ||||
| Hongfa Technology Co Ltd is engaged in Research, manufacture and selling relays, low voltage electrical appliances, contactors, automation equipment and related electronic components and assemblies, electromechanical products, mechanical equipment. | $4 | +4% | $6.9B | $7.2B | ||||
 | NKT AS is a Denmark-based provider of cable technology. The company, along with its subsidiaries, operates in the following segments; Solutions, Applications, and Service & Accessories. Maximum revenue is generated from the Solutions segment which caters to the high-voltage power cable market and is involved in the manufacturing and installation of high-voltage cables and products for onshore power transmission and distribution, power-from-shore, cable projects, offshore wind connections, and other projects. This segment also owns and operates a cable-laying vessel, NKT Victoria. Geographically, the company generates maximum revenue from Germany followed by the United States of America, the United Kingdom, Poland, Norway, Denmark, and other regions. | $128 | +13% | $6.8B | $6.3B | ||||
| Far East Smarter Energy Co Ltd operates as a wire and cable manufacturer in China. The company is mainly engaged in system development, design, manufacturing, marketing and service of four major types of cable products, such as overhead wires, power cables, wire and cable for electrical equipment, and special cables. Its products are widely used in smart power, smart transportation, intelligent energy intelligent construction and other fields. | $3 | +162% | $6.4B | $7B | ||||
| Shenzhen Sunway Communication Co Ltd is operating in the communication industry. The company is primarily focusing on the research and development, manufacturing, sales and marketing of the mobile terminal antennas and related modules, acoustic modules and connectors with high electromagnetic compatibility. Its products offering include mobile antenna, precision metal parts, MIM metal parts, acoustics and new materials products. Its products mainly apply to consumer electronic fields like smartphone/tablet PC, smart wearable devices, smart home/IoT and smart automobiles, and primarily expand the supporting capability towards industry, automobile, and military fields. | $7 | +31% | $6.4B | $6.6B | ||||
| BYD Electronic (International) Co Ltd is a diversified components supplier and assembler. The company's primary business is the manufacture, assembly and sale of mobile handset components, modules, and other products. The company's business covers multiple areas such as smartphones, Notebook PC, new energy vehicles, household energy storage, smart home, gaming hardware, drones, AI servers, 3D printers, IoT, robots, communication equipment, medical and healthcare devices, etc. The company generates the majority of its revenue from overseas operations. | $3 | -40% | $6.3B | $5.6B | ||||
| Nexans is focused on electrification and provides cabling technologies and services across the value chain, including engineering and design, production, manufacturing, testing, installation, maintenance and repair. Its segments are: PWR-Transmission, supporting the energy transition through subsea and interconnection projects; PWR-Grid, providing cables, accessories and services for grid modernization; and PWR-Connect, which generates maximum revenue through solutions for data centers, electric vehicles and critical buildings. Its technologies include mass impregnated (MI), cross-linked polyethylene (XLPE), and dynamic cables. It focuses on the electrical safety of end users, products that are easy to handle and install, and smart products integrated into a digital ecosystem. | $142 | +1% | $6.2B | $7.4B | ||||
| EnerSys provides stored energy solutions for industrial applications. It also manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories, and outdoor equipment enclosure solutions to customers. Energy Systems that combine enclosures, power conversion, power distribution, and energy storage are used in the telecommunication and broadband, utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Its segments include Energy Systems, Motive Power, New Ventures, and Specialty. | $169 | +32% | $6.1B | $6.6B | ||||
| Powell Industries Inc is a United States-based company that develops, designs, manufactures, and services custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. The company's principal products comprise integrated power control room substations, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switchgear and control gear, and so on. These products are applied in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and other heavy industrial markets. The company generates the majority of its sales from the United States, and the rest from Canada, Europe, Asia Pacific, and other regions. | $165 | +29% | $6B | $5.4B | ||||
| Lear Corp designs, develops, and manufactures automotive seating and electrical systems and components. The company has two reporting segments Seating and E-Systems. Seating components include frames and mechanisms, covers (leather and woven fabric), seat heating and cooling, foam, and headrests. Automotive electrical distribution and connection systems and electronic systems include wiring harnesses, terminals and connectors, on-board battery chargers, high-voltage battery management systems. The company earns majority of its revenue from the seating segment. | $120 | +15% | $5.9B | $7.8B | ||||
| Shanghai BOCHU Electronic Technology Corp Ltd is engaged in research & development, production, and sales of laser cutting control systems. The company develops follow-up control, board control, and bus control systems, along with related supporting products. | $14 | -1% | $5.5B | $4.7B | ||||
 | Next Vision Stabilized Systems Ltd is engaged in the field of micro stabilized gimballed cameras. It offers the widest range of stabilized cameras and accessories for commercial, industrial and security applications. The cameras can be mounted on ground, aerial and maritime platforms, and are the preferred choice where low SWaP2 (Size, Weight, Power and Price) without compromising performance is a key requirement. Its products include Colibri1, Colibri2, Colibri212, Nighthawk1, Nighthawk2, Nighthawk2-V, Nighthawk2-UZ, and Dragoneye2. | $59 | +34% | $5.5B | $4.9B | ||||
| Sichuan Huafeng Technology Co Ltd is a global provider of optical connectors and interconnection solutions. It is engaged in research & development, production and sales of optical and electrical connectors and cable assemblies, and provides customers with system solutions. | $12 | +9% | $5.5B | $5.3B | ||||
 | AAC Technologies is one of the world’s largest manufacturers of miniature acoustic components, such as speakers and receivers, primarily for smartphones. Founded in 1993, the company has since expanded into the production of other handset components, such as electromagnetic drives (haptics), precision mechanical, lenses and camera modules, sensors, and MEMS microphones. AAC is headquartered in Shenzhen, China, and runs factories in China, Vietnam, Czechia, and Malaysia. It employed 44,181 people as at June 30, 2025. | $5 | -12% | $5.1B | $5.7B | ||||
| Teco Electric & Machinery Co Ltd is a Taiwan-based company that manufactures and sells various types of mechanical equipment, air-conditioning units, and electronic equipment products. The company's Heavy industrial products, the product line by revenue contribution, are used in fluid machinery, elevators, cranes, petrochemical machinery, rolling mills, pumps, and various other machinery. The company's home appliance offerings comprise air conditioners, refrigerators, washing machines, televisions, air purifiers, and others. The company also provides automation products such as converters, servo controllers, and circuit breakers. The company generates the majority of its sales from Taiwan. | $2 | -37% | $5.1B | $5.1B | ||||
| Hirose Electric Co Ltd is engaged in the production and sale of connectors and related products. The company's operations are organized into two reportable segments: Multipole connectors and Coaxial connectors. Multipole connectors include circular, rectangular, ribbon cable, printed circuit board, and flexible printed circuit connectors, while Coaxial connectors are high-performance connectors for high-frequency and optical signal transmission. It generates the majority of its revenue from the Multipole connector segment. | $155 | +15% | $5B | $4.1B | ||||
| Nanchang Sanrui Intelligence Technology Co Ltd is engaged in the research, development, production and sales of electric power systems for unmanned aerial vehicles and power systems for robots. The company develops and manufactures electric propulsion systems for applications such as drones and robotics. Its portfolio includes several brands, including LIGPOWER, T-Hobby, CubeMars, SUPER-E, and MEPSKING. | $12 | -- | $4.9B | $4.7B | ||||
| LS Corp is a holding company. It develops electric power transmission and telecommunication, energy, materials, automation and machinery, and components. | $170 | +16% | $4.7B | $15B | ||||
 | Viohalco SA is the Belgium-based holding company of metal processing companies, which sustainably manufacture aluminium, copper, cables, steel, and steel pipes products. The company's products are used across various industries, including packaging (rigid, semi-rigid, and flexible), transportation (automotive, shipbuilding, road, and rail), building and construction, energy and power networks, and Others. Its business segments are Aluminium, Copper, Steel, Cables, Steel pipes, Real estate, and R&D and Technology. The company's geographical segments are Greece, the European Union, Other European countries, Asia, America, Africa, and Oceania, the majority is from the European Union. | $18 | +79% | $4.6B | $6.9B | ||||
| Suzhou Tianmai Thermal Technology Co Ltd is engaged in Research and development, production and sales of thermal conductive and heat dissipation materials and components. | $39 | +105% | $4.5B | $4.5B | ||||
| Franklin Electric Co Inc designs, manufactures, and distributes water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment. It has three segments; The Water Systems segment designs, manufactures and sells motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment for use in groundwater, water transfer, and wastewater, The Energy Systems segment designs, manufactures and sells pumps, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices, and related parts and equipment for use in fueling system applications and the Distribution segment sells and provides presale support and specifications to the installing contractors. | $100 | +6% | $4.4B | $4.6B | ||||
 | El Sewedy Electric Co is an Egypt-based company engaged in the machinery business sector. The company's operating segment includes Cables, Construction, and Electrical products and its accessories. The Cables segment is engaged in manufacturing, marketing, and trading the cables. The construction segment executes construction related to power generation units and electricity distribution networks. Electricity products segment manufactures, electric meters, transformers, and electric joints, and markets and trade the products. Geographically, it derives the majority of its revenue from Egypt. | $2 | +23% | $4.2B | $4.9B | ||||
 | Riyadh Cables Group Co manufactures and supplies all types of wire and cables at its state-of-art facilities. The company’s products include Wires, Low Voltage Cables (LV), Medium Voltage Cables (MV), High & Extra High Voltage Cables (HV/EHV), Overhead Lines Conductors Cables (OHL), Instrumentation & Control Cables, Renewable Energy Cables, and Fiber Optic & Telephone Cables. The company operates in three segments: Cable & Wires segment includes Electrical cables, the High voltage cables segment includes Turnkey projects, and the Other segments include Telephone cables & services. The majority of revenue is generated from Cable & Wires segment. | $27 | -28% | $4.1B | $4.3B | ||||
| Maruwa Co Ltd engages in the production and sale of ceramics and electronics parts. The company operates in two business divisions, namely the Ceramic parts business and the Lighting equipment business. The Ceramic Parts business segment manufactures and sells electronic components, ceramic substrates, and semiconductor manufacturing equipment. The Lighting Equipment business segment produces and markets LED lighting products alongside conventional lighting equipment. It generates the majority of its revenue from the Ceramic parts business segment. | $322 | +13% | $4B | $3.5B | ||||
| Guizhou Space Appliance Co Ltd is engaged in research and development in the fields of high-end connectors, relays, micro-motors, optoelectronics, cable assemblies, secondary power supplies, control components and telemetry systems. It offers Electrical connector, Fiber linker, Cable, Switch, Medical sample and Locomotive sample. These products are widely used in aviation, aerospace, marine, weapons, nuclear, electronics, communications, medical, rail transit, energy equipment, network equipment, household appliances, and new energy vehicles. Geographically, the group operates through China. | $8 | +28% | $3.7B | $3.7B | ||||
| Electrical Industries Co is engaged in producing electrical products and equipment. The company operates in two reportable segments namely Manufacturing, assembly and supply of various types of electrical equipment; and Provision of technical services. Its product portfolio includes Transformers, Cable Management System, Low, Medium and High Voltage Equipment and Industrial Services. | $3 | +4% | $3.6B | $3.6B | ||||
| Meiko Electronics Co Ltd is a Japan-based company. The company is engaged in manufacturing of anyLayer high density interconnect, high heat dissipation printed circuit boards (PCBs) and high electric current PCBs, solder stencils, electronic manufacturing services, industrial equipment, and imaging equipment. The company operates in one business segment that is Printed Circuit Boards. Geographically the company exports its products to Asia, North America, Europe, and Other regions. | $137 | +106% | $3.5B | $4.3B | ||||
| Dexerials Corp is engaged in the manufacture and sale of electronic components, bonding materials, and optical materials. The company operates through two reportable segments: Optical Materials and Components, which includes products such as anti-reflection films, UV-curable resins for optical discs, optical elastic resin, and phosphor films; and Electronic Materials and Components, which includes industrial functional adhesives, anisotropic conductive films, surface-mount fuses, inorganic polarizers, and semiconductor-related materials. | $21 | +30% | $3.5B | $3.5B | ||||
| Wuhan Raycus Fiber Laser Technologies Co Ltd is a China based company engaged in the business of research, development and scale production of high-power fiber lasers and core devices. The company's product portfolio includes short pulsed fiber laser, single module fiber laser, high-power multimode continuous laser, fiber-delivered direct diode laser and others. | $6 | +66% | $3.4B | $3.3B | ||||
| Carel Industries SpA manufactures control systems and humidification for air conditioning and refrigeration. The group provides control solutions for the commercial, industrial, and residential air-conditioning and refrigeration (HVAC/R) markets. Its geographical segments are Europe, the Middle East and Africa, North America, South America, and APAC. The company's industrial applications for the air-conditioning sector are designed for data centers. Its products include programmable controls, room terminals, Isothermal Humidifiers, Sensors and protection devices, Sensors and protection devices, and others. It derives maximum revenue from Europe, the Middle East, and Africa segment. | $30 | +14% | $3.4B | $3.4B | ||||
 | Koncar - Electrical Industry Inc along with its subsidiaries, is engaged in the production and distribution of electrical machinery and appliances, vehicles, and metalworking. Its operating segments are the Production of electricity, Transmission and distribution of electricity, Rail vehicles and railway infrastructure, and Digital solutions. The firm generates the majority of its revenue from the Transmission and distribution of electricity. This segment includes the production and sale of distribution, special, measuring, and other transformers, transformer boilers, transformer stations, equipment for primary and secondary distribution of electricity, low-voltage plants, monitoring systems, diagnostic, testing, and technical supervision services. | $1,317 | +68% | $3.4B | $3.4B | ||||
| Zijin Longking Co Ltd is engaged in the manufacturing, sales and installation of environmental pollution control equipment, dust removal, desulfurization and supporting high and low voltage electrical control equipment. | $2 | 0% | $3.3B | $4B | ||||
 | Astor Enerji AS is engaged in the manufacturing of transformer and switching products. The product portfolio of the company includes Oily Type Distribution Transformers, Cast Resin Dry Type Transformers, Power Transformers, Medium Voltage Switching Products, Compact Transformer Substations, RMU and Metal Clads. | $3 | +43% | $3.3B | $3.1B | ||||
| Atkore Inc is a manufacturer of Electrical products for the non-residential construction and renovation markets, as well as residential markets, and Safety & Infrastructure products for the construction and industrial markets. The Electrical segment manufactures products used in the construction of electrical power systems including conduit, cable, and installation accessories. This segment serves contractors in partnership with the electrical wholesale channel. The Safety & Infrastructure segment designs and manufactures solutions including metal framing, mechanical pipe, perimeter security, and cable management. These solutions are marketed to contractors, original equipment manufacturers (OEMs), and end-users. The majority of revenue is generated from the Electrical segment. | $95 | +37% | $3.2B | $3.8B | ||||
| Versigent PLC designs and manufactures low- and high-voltage electrical architectures. Its products include signal, power, and data distribution systems used in sectors such as automotive, commercial vehicles, agriculture, and energy storage. The company operates engineering and manufacturing facilities across multiple regions and serves customers through an international network. | $44 | -- | $3.1B | $5.2B | ||||
| Bel Fuse Inc designs and manufactures electronic components that protect and connect electronic circuits. Its product portfolio is divided into three categories: magnetic solutions, power solutions & protection, and connectivity solutions. These products are used for the computer, networking, telecommunications, transportation and defense/aerospace, automotive, medical, and consumer electronics industries. Its geographical segments are the United States, Macao, United Kingdom, Slovakia, Germany, Switzerland, and All other foreign countries. Majority of the revenue is derived from United States. | $208 | +35% | $2.9B | $2.7B | ||||
| Veeco Instruments Inc is a United States-based company engaged in designing, developing, and manufacturing thin-film process equipment, mainly used for producing electronic devices. The company focuses on semiconductor process equipment that addresses a range of challenging materials engineering problems for its customers. Its products include Laser Processing Systems, Lithography Systems, Ion Beam Systems, SiC CVD Systems, MOCVD Systems, Wet Processing Systems, MBE Technologies, Atomic Layer Deposition Systems, Physical Vapor Deposition Systems, Dicing and Lapping Systems, as well as Gas & Vapor Delivery Systems. The maximum of the company's revenue is generated from sales to the Semiconductor Industry and within China. | $43 | +49% | $2.6B | $2.4B | ||||
| Alps Alpine Co Ltd is a Japan-based company mainly engaged in businesses related to the components, sensors and communications, and modules and systems businesses. The company operates through three segments. The Component segment manufactures and sells electronic components such as switches, actuators, and haptics. The Module/System segment provides automotive modules, infotainment systems, displays, and related services. The Sensor Communication segment handles sensors and communication devices. The Others segment includes system development, office services, screws, as well as finance and leasing businesses. It generates the majority of its revenue from the Module/System business segment. | $14 | +7% | $2.6B | $2.4B | ||||
| Zhuzhou Hongda Electronics Corp Ltd is engaged in the research and development, production, sales and service of electronic components and circuit modules. The company's main products include electronic components, power modules, IF converters, and other products. Its products are widely used in aircraft, vehicles, ships, radars, electronics and other fields, as well as smart phones, industrial control equipment, medical equipment, charging piles, notebook computers, instrumentation, automotive electronics, and other fields. | $6 | +2% | $2.5B | $2.4B | ||||
| Hayward Holdings is a leading manufacturer of energy-efficient swimming pool equipment and pool automation systems. The company offers a wide range of pool equipment, including pumps, filters, heaters, LED lights, and sanitization. Headquartered in Charlotte, North Carolina, the company has around 2,000 full-time employees. Hayward generated approximately $1.1 billion in revenue in 2024. | $12 | -30% | $2.5B | $3B | ||||
| Voltronic Power Technology Corp is a Taiwan-based company that manufactures and distributes uninterruptible power supplies (UPSs), photovoltaic products, and electronic materials. Its products includes UPS, PV Inverter, Energy Storage System, Variable Frequency Drive, and EV Charger. Geographically, it operates in Taiwan, China and Vietnam, of which it derives maximum revenue from Taiwan. | $28 | -30% | $2.4B | $2.2B | ||||
 | Munters Group AB is a provider of energy-efficient air treatment and climate control solutions predominantly within the food, pharmaceutical and data center and other sectors. The company operates in segments, which are: AirTech, Data Center Technologies, and FoodTech. The majority of the revenue is generated from its AirTech segment, which manufactures and markets products and solutions for controlling humidity and improving the indoor climate. Geographically, a majority of its revenue is generated from the United States and the rest from China, Germany, the United Kingdom, Canada, Sweden, and other markets. | $13 | -23% | $2.4B | $3.1B | ||||
| CECEP Environmental Protection Co Ltd Formerly CECEP Environmental Protection Equipment Co Ltd is engaged in the designing, developing, manufacturing and selling of transformer equipment and components. | $1 | -13% | $2.4B | $3.3B | ||||
| Rogers Corp designs develop and manufactures engineered materials and components for sale to original equipment manufacturers and component suppliers. The firm operates in three business segments: Advanced Electronics Solutions, which manufactures circuit materials for applications in communications infrastructure, automotive, and consumer electronics markets; elastomeric material solutions, which provide cushioning, sealing, and impact protection in automotive, transportation, and construction applications; and Other, which consists of elastomer components for applications in the general industrial market, as well as elastomer floats for level sensing in fuel tanks, motors, and storage tanks applications in the general industrial and automotive markets. | $133 | +52% | $2.4B | $2.2B | ||||
| Median | $35 | +13% | $9.6B | $9.9B | 3.8x | 19.5x |
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