AQ Group AB
- Company typePublic
- Founded1994
- HeadquartersVästerås, Sweden
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
AQ Group AB firmographics
Firmographics- Name
- AQ Group AB
- Legal name
- AQ Group AB
- Website
- https://aqgroup.com
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
AQ Group AB industry classification
Industry- Product category
- Industrial Contract Manufacturing
- NAICS
- Electrical Equipment Manufacturing (3353), Other Electronic Component Manufacturing (334419), Electrical Equipment, Appliance, and Component Manufacturing (335)
- SIC
- Electrical Industrial Apparatus (3620), Electronic Components, Nec (3679), Miscellaneous Electrical Machinery, Equipment & Supplies (3690)
- akta.pro primary industry
- Embedded & Compute Modules (SoMs, COM Express/SMARC, industrial SBC modules) (IMAGAJAK)
Keywords
Where AQ Group AB is headquartered
LocationHeadquarters
- HQ city
- Västerås
- HQ country
- Sweden
- HQ region
- Europe
Offices8 records
Markets served
AQ Group AB business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure
Revenue model
- Industrial Components Manufacturing: Design, development, manufacturing, and assembly of components and systems for demanding industrial customers. Revenue derived from sale of manufactured products across multiple business areas including electric cabinets, wiring systems, injection molding, and inductive components.
- Custom Electromechanical Assemblies: Custom electrical harnesses and electromechanical assemblies sold to defense, aerospace, and general industries
- Inductive Components: Transformers, reactors, filters, and combined solutions for power conversion and energy transmission applications
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
AQ Group AB product offering
Product offeringCore offering
AQ Group AB manufactures components and systems for industrial customers through two business areas. AQ Components delivers electric cabinets, wiring systems (wire harnesses, high-voltage cables, electro-mechanical enclosures), injection molded parts and sheet metal components. AQ Solutions produces inductive components (transformers, reactors, inductors), special tech & engineering deliverables, and tools and molds. The company serves industrial OEM customers across defense, data centers, electrification, general industrial, telecom and other sectors from production units in nine countries.
Product overview
AQ Group AB is a global Swedish manufacturer that develops, manufactures, and assembles components and systems for demanding industrial customers. The company operates through seven core business areas: Electric Cabinets, Wiring Systems (including electrical harnesses and high voltage cables), Injection Molding, Special Tech & Engineering, Sheet Metal Processing, System Products, and Inductive Components (including transformers and reactors). The company has subsidiaries in multiple countries including Sweden, Finland, Estonia, Mexico, India, Canada, China, USA, Germany, Hungary, Poland, Italy, Bulgaria, Brazil, and Lithuania, with 42 manufacturing sites and approximately 8,100 employees.
Differentiator
Problem solved
Functional benefit
Products and services
- Electric Cabinets / System Products Assembled electric cabinets and broader system products supplied to industrial OEM customers, including those in defense, data centers, electrification, general industrial and telecom.
- Wiring Systems Family of wire harnesses, high-voltage cables and electro-mechanical enclosures manufactured for industrial OEM customers, particularly those serving electrification and other safety-critical applications.
- Injection Molding Injection molded plastic components supplied to industrial OEM customers, including advanced 4-component and overmolding capabilities.
- Sheet Metal Processing Processed sheet metal components manufactured for industrial OEM customers across AQ Group's production units.
- Inductive Components Custom inductive components including transformers, reactors and inductors supplied to industrial customers.
- Special Tech & Engineering Specialized engineering services delivering customer-specific technical solutions as part of the AQ Solutions offering.
- Tools and Molds Designed and produced tools and molds supplied as part of AQ Group's AQ Solutions offering.
Quantifiable outcome
- SEK 9 billion in net sales for 2025
- +2 more outcomes
Companies that use AQ Group AB
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles1 record
AQ Group AB technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
AQ Group AB partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- TechROi Engineering ABminorAcquisition of TechROi Engineering AB and TechROi Scandinavia AB by AQ Engineering AB subsidiary to expand market segments and engineering services. Transaction involves symbolic cash payment and debt transfer, pending approval from Swedish Supervisory Authority.
- Rockford Components LimitedminorAcquisition of Rockford Components Limited, a manufacturer providing wire harnesses and electromechanical systems to defense, aerospace, and general industries. Deal includes cash payment and potential performance-based bonus. Aimed to expand AQ's customer base and strengthen position in UK defense sector.
- JIT Mech se Industri ABminorAcquisition of 100% of JIT Mech se Industri AB and its subsidiaries from JIT Mech and Monen Holding AB. Transaction expected to close in Q2 2024 pending approval. Aimed to expand customer base and product offerings especially in electrification and defense industries.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
AQ Group AB competitors and assessment
Company assessmentDirect peers
- Hanza AB: Sweden-listed contract manufacturer offering complete production solutions including electronics, mechanics, and assembly — directly comparable business model and target customer base to AQ Group's seven business areas.
- Scanfil Oyj: Finnish-listed contract manufacturer of electronics and mechanics — similar size band, similar industrial OEM customer profile, and broadly overlapping capabilities (electronics assembly, harnesses, box-build) to AQ's offering.
- NOTE AB: Swedish EMS and industrial contract manufacturer headquartered in Gothenburg — the closest direct Nordic peer to AQ's wiring-harness, PCB assembly, and box-build business areas serving industrial OEM customers.
- Inission AB: Nordic industrial contract manufacturer combining electronics, mechanics, and box-build for industrial customers — overlaps directly with AQ's wiring-systems, cabinet, and injection-molding offerings in the Nordics.
- Kitron ASA: Norwegian EMS company with defense, energy, and industrial OEM exposure — directly comparable end-market mix (defense, electrification, industrial) and Nordic manufacturing footprint to AQ Group.
- Cicor Technologies: Swiss-listed European EMS and mechatronics provider with aerospace/defense and industrial customers — comparable product breadth and target customer segments to AQ Group's wiring and inductive-components business.
- Heico Corporation: US-listed aerospace and electronic components specialist with FAA-PMA and AS9100-certified manufacturing — closest large-cap comparator for AQ's Rockford-led defense/aerospace wire-harness and electromechanical assembly business.
- Figeac Aero: French-listed aerospace contract manufacturer producing structural parts, sub-assemblies, and harness-type content for Airbus, Safran, and tier-1 defense primes — comparable sub-system integration role to AQ Group's aerospace offering.
- Lacroix Electronics: French privately-held EMS provider with industrial, automotive, and aerospace customers — comparable mid-tier contract manufacturer profile serving demanding industrial OEMs across Europe.
Broad incumbents
- Siemens Energy (Transformers business): Large global incumbent in power transformers and grid infrastructure — broader portfolio than AQ's inductive components but directly competes in the same dry-type transformer / reactor category with grid-electrification customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
AQ Group AB social profiles
Digital presenceAQ Group AB compliance and trust
Trust signalCompliance13 records
AQ Group AB financial estimates
Financial estimateRevenue estimate
Valuation estimate
AQ Group AB leadership team
Management profileNumber of profiles
Profiles2 records
AQ Group AB subsidiaries and ownership
Company hierarchySubsidiaries46 records
AQ Group AB funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AQ Group AB M&A and investment
M&A and investmentM&A6 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AQ Group AB
What does AQ Group AB do?
AQ Group AB manufactures components and systems for industrial customers through two business areas. AQ Components delivers electric cabinets, wiring systems (wire harnesses, high-voltage cables, electro-mechanical enclosures), injection molded parts and sheet metal components. AQ Solutions produces inductive components (transformers, reactors, inductors), special tech & engineering deliverables, and tools and molds. The company serves industrial OEM customers across defense, data centers, electrification, general industrial, telecom and other sectors from production units in nine countries.
Is AQ Group AB a public or private company?
AQ Group AB is a public company. It is classified as public and is currently operating.
When was AQ Group AB founded?
AQ Group AB was founded in 1994. It employs 5,001 to 10,000 people.
Where is AQ Group AB based?
AQ Group AB is headquartered in Västerås, Sweden, in the Europe region.
How does AQ Group AB make money?
Three revenue lines are on record. Industrial Components Manufacturing is the primary driver. The others are custom Electromechanical Assemblies and inductive Components.
Who are AQ Group AB's main competitors?
Direct peers on record are Hanza AB, Scanfil Oyj, NOTE AB, Inission AB, Kitron ASA, Cicor Technologies, Heico Corporation, Figeac Aero and Lacroix Electronics. Siemens Energy (Transformers business) is listed as a broad incumbent.
Does AQ Group AB have an API?
No public API is recorded for AQ Group AB.
What industry is AQ Group AB in?
AQ Group AB's product category is Industrial Contract Manufacturing. Its primary akta.pro industry code is IMAGAJAK, Embedded & Compute Modules (SoMs, COM Express/SMARC, industrial SBC modules). Its NAICS code is 3353 and its SIC code is 3620.