Are you an electrical engineer and looking for business ideas in the electrical and electronics field? Find here 30 best business ideas for electrical engineers.
Currently, the United States, Japan, and Korea are the top three electrical and electronic goods manufacturing country in the world. The United States of America is the largest producer of electronic products in the world, contributing a total share of around 21%. Furthermore, it also occupies the largest market share with about 29% in the global market.
Actually, the global electrical and electronics sector is highly fragmented and comprised of various auxiliary sectors. The list includes electronic components, computer and office equipment, telecommunications, consumer appliances, and industrial electronics.
The industry is the most flourishing and extremely diversified sector consisting of manufacturers, suppliers, dealers, retailers, electrical engineers, electricians, electronic equipment manufacturers, and trade unions. So, it offers huge opportunities to the entrepreneurs for starting a lucrative venture according to the investment capacity. And here we have accumulated a list of 30 most profitable electrical and electronics business ideas for the electrical engineers and beginners.
List of 30 Business Ideas for Electrical Engineers
#1. Air Compressor Production
Basically, the air compressor is an industrial item. Additionally, the air compressor has an intensive application in the automobile service industry. The air compressor production process is not complex. And you can start a small company with moderate capital investment.
#2. Battery Production
If you want to start a small-scale manufacturing business, then you can consider battery production. With a small space of operation, you can start this business. Though you can open a localized battery company with a small investment, expansion demands substantial investment.
#3. Battery Store
If you are looking for a retail opportunity in the electrical and electronics field, then you can consider this business. Additionally, you can start the business in two ways. Either as an initiative of your own or as a franchise partner of a reputed brand. However, if you start your own, you can sell multiple brands for a single store.
#4. Capacitor Production
A capacitor can store electric energy when disconnected from its charging circuit, so it can be used like a temporary battery. The product has a huge demand in both the electrical and electronics industry. With the moderate capital investment, you can start capacitor production business.
#5. CCTV Installation Service
Actually, CCTV stands for closed circuit television. The CCTV’s are frequently utilized for surveillance in locations that may require regular monitoring such as casinos, banks, military installations, airports, shopping malls, convenience stores, etc. Apart from this, CCTV cameras have wide applications across the globe by government institutions to reduce and avoid domestic and international security threats. So, there are huge potentials for starting a CCTV installation business from home.
#6. Computer Accessories Retailing
Broadly, you can start the computer accessories retailing business in two ways. One is from a brick and mortar store and another is online. And there are several ways you can sell the products online. The demand for different computer accessories is increasing very fast.
#7. Computer Assembling
The United States computer and office equipment industry constitutes of more than 10,000 companies with collective annual revenue of US $180 billion. So undoubtedly, it is a very lucrative sector for the entrepreneurs. However, starting a computer assembling business demands substantial capital investment.
#8. DJ & VJ Equipment Retailing
Basically, DJ stands for disc jockey while VJ stands for video jockey. And they huge a lot of instruments for making the function highly rocking. Some of the most popular items are channel mixers, USB grid controller, LED lights, personal monitor station etc. You can start retailing both from offline and online.
#9. Electrical Control Panel
Basically, electrical control panels help to control mechanical equipment. Additionally, they are used to control every piece of equipment in every industry. However, the product has a high demand in the industrial sectors. the business is perfect for the electrical engineers.
#10. Electrical Switches, Socket, and Plugs
These are very common items in the electrical and electronics industry. Additionally, the manufacturing process is not complex. If you want to start a manufacturing business in the industry, you can consider starting switches, sockets and plugs production business.
#11. Electrical Wire Manufacturing
Electrical wires are highly consumable items. PVC coated electrical wires are used in both the domestic and industrial segments. You can start the business as small and after getting the confidence you can scale up.
#12. Electronic Fan Regulator Production
A ceiling fan is one of the most common electrical appliances. And there always is a fan regulator with every ceiling fan to control its speed. So, the market opportunity is huge in the fan regulator production business. Additionally, with moderate capital investment, you can start this business.
#13. Electronic Toy Production
Actually, electronic toys are the most popular items among the kids. Therefore, the demand for different types of modern toys is also increasing. You can start electronic toys production business with moderate startup capital investment.
#14. Ewaste Recycling
This is another a great business that has a bright future. It is obvious that people will use more electrical and electronics items and will produce more e-waste globally. However, the overall success of an e-waste recycling business highly depends on the creating right business model.
#15. Gaming PC Assembling
Gaming PCs have high demand. And in most of the cases, people prefer to buy customized gaming PC according to their specific requirements. Therefore, if you have specific skill and knowledge, you can start gaming PC assembling business even from home also.
#16. Generator Assembling
Basically, the generator is an industrial product. Additionally, it has other commercial applications in retail stores, commercial offices including shopping mall etc. Actually, generator assembling is a perfect business opportunity for the electrical engineers. However, you must have prior experience in this industry.
#17. Home Appliances Store
If you want to start a retail business that has the substantial potential of generating a net profit, then you can consider this business. The business demands moderate startup capital investment. However, it depends on the size of your store and inventory.
#18. House Electrification Service
For electrical engineers, starting a home electrification service business is highly lucrative. Not only the new electrification, you can address the consumers who need an expert for repairing or alteration also. In most of the state, the business demands a specific license from the Govt. authority. So, check it first.
#19. LED Light Production
LED lights are getting huge popularity these days. The manufacturing process is simple. And there is already a market for this product. If you have specific knowledge, you can start LED light production business with moderate capital investment.
#20. Mobile Store
Starting a mobile store is a highly lucrative business these days. Actually, you can start the business either as an individual brand or as a franchise partner. Additionally, you can consider selling only a single brand like iPhone or Samsung.
#21. Musical Instrument Retailing
Nowadays, the musical instrument industry is highly upgrading. There several updated instruments are available for best performance. So, musical instrument retailing is a highly lucrative business these days for the electrical engineers who want to choose the career as an entrepreneur.
#22. Optical Fibre Production
Basically, the optical fiber is a transparent and flexible fiber. It transmits light between the two ends of the fiber and finds wide usage in fiber-optic communications. There are several fields including telecommunication where the product has huge demand.
#23. Pneumatic Tools Production
Basically, pneumatic tools are air-powered tools. Compared to their electric power tool equivalents, they are safer to run and maintain, without risk of sparks, short-circuiting or electrocution, and have a higher weight to power ratio, allowing a smaller, lighter tool to accomplish the same task. So, they are getting huge popularity day-by-day.
#24. Printed Circuit Board Making
Basically, designing and making printed circuit boards are the great business opportunities for the electrical engineers. The product has high demand and tough market competition too. If you have prior experience and sound knowledge you can consider starting this business with moderate investment.
#25. Robot Vacuum Cleaner Production
Robot vacuum cleaners are the new product. However, these items are getting huge popularity for both the household and commercial use. The assembling process is not very complex. However, the business demands substantial capital investment and strategic planning.
#26. Smartphone Production
According to the market statistics, worldwide smartphone shipments are growing at 3.4%. Actually, Apple, Samsung, Huawei, OPPO, Vivo, Xiaomi, Lenovo, LG Electronics, Sony, and ZTE as the key vendors in the global smartphone market. And most of the today’s popular brands started operation with a very small investment. So, if you have that confidence in you, you can definitely consider starting a smartphone production company.
#27. Smartwatch Production
Smartwatch is another a great product that is gaining huge popularity. Comparatively, it is an easier business to start. If you know the technology, you can start smartwatch production business. However, the business demands moderate capital investment and proper marketing planning.
#28. UPS Assembling
Basically, UPS comes in the different capacity for different purposes. The product has domestic, official, industrial and commercial uses. The assembling process is simple. And you can start the business with small capital investment.
#29. Voltage Stabilizer Production
The Voltage stabilizer provides an output voltage with a specified limit for supplying to load irrespective of wide fluctuation in the input voltage, independent of load power factor and without introducing harmonic distortion. Additionally, you can start voltage stabilizer business with moderate capital investment.
#30. Weighing Scale Production
Now a day the demand for the digital weighing machine is increasing day by day in most of the business enterprises. Because measuring the weight with a digital weighing machine is user-friendly with a variety of various applications. Basically, it is a perfect manufacturing business opportunity for the electrical engineers.
The worldwide electrical and electronics industry is experiencing phenomenal and remarkable changes these days. So, this is absolutely a right time for starting a business in the industry for the electrical engineers.