Carbon fibre reinforced polymer (CFRP) composites have gained extensive use in aerospace, transportation, and civil infrastructure due to their superior mechanical performance, chemical resistance, and lightweight characteristics. Recent advances have shifted focus toward enhancing their electrical and functional properties to enable smart capabilities. This review provides a comprehensive overview of the latest progress in raw materials, factors influencing electrical conductivity, and multifunctional properties of CFRP, including self-sensing, electromagnetic interference (EMI) shielding, self-heating, energy harvesting, and storage. Self-sensing in CFRP, driven by its piezoresistive behavior, enables detection of compressive, tensile, flexural, impact, and fatigue loads. Remarkably, CFRP can also be engineered to serve as massless structural energy harvesters for electrical power generation or as supercapacitors for electrochemical energy storage. Despite these advances, challenges remain in large-scale production, thermal stability, long-term durability, and wireless signal acquisition. From this perspective, mineral-based CFRP composites (MCF) might offer a promising pathway to address these issues. This review aims to inform future research directions and support the development of multifunctional and sustainable CFRP composites for smart infrastructure applications.