Global High Voltage Measuring Equipment Market Size Study & Forecast, by Type (Capacitive Voltage Transformer, Potential Transformer, Others), By Voltage (35-400KV, 401-800KV, More than 800KV), By Current (Alternating Current, Direct Current), By Applicat

Global High Voltage Measuring Equipment Market Size Study & Forecast, by Type (Capacitive Voltage Transformer, Potential Transformer, Others), By Voltage (35-400KV, 401-800KV, More than 800KV), By Current (Alternating Current, Direct Current), By Application (Power Generation, Power Transmission, Industrial, Others), and Regional Analysis, 2023-2030

Global High Voltage Measuring Equipment Market is valued at approximately USD 5.72 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.9% over the forecast period 2023-2030. High voltage measuring equipment are electric devices that are specially utilized for measuring electric currents with high accuracy. This equipment comprises high voltage instrument transformers, capacitors, multi-meters, probes, and others. High voltage measuring equipment is used to precisely measure, monitor, and analyze electrical parameters such as voltage levels, current, power, and other electrical properties in high voltage systems. The surging demand for power, rising emphasis on renewable energy integration, and increasing safety and compliance requirements, coupled with the growing trend of industrial automation and process control are the most prominent factors that are propelling the market demand across the globe.

In addition, the emerging applications in electric vehicles (EVs) are also influencing market growth during the estimated period of 2023-2030. EVs operate at high voltages, and accurate measurement of high voltage parameters, such as battery voltage and charging voltage, is crucial for the safe and efficient operation of EVs. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295000 and the number increased significantly and reached 631000 in 2021. Also, as per Statista, in 2021, the sales of electric vehicles across Brazil accounted for around 7,272 units, which is projected to reach more than 17,860 units by 2027. Hence, the rising adoption of electric vehicles (EVs) is creating new demand for high-voltage measuring equipment, which propels the growth of the high-voltage measuring equipment market during the estimated period. Moreover, the increasing technological advancements, as well as the rising grid modernization and smart grid implementation are presenting various lucrative opportunities over the forecasting years. However, the high investment required for installing high voltage measurement devices is hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global High Voltage Measuring Equipment Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rapid penetration of electric vehicles, along with the increasing investment in technological developments.

Whereas, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising of automotive post-sale services, stringent government regulations to replace or upgrade vehicle components supplement, and high demand for automobiles in the market space.

Major market players included in this report are:
ABB Group
Bharat Heavy Electricals Limited (BHEL)
CG Power and Industrial Solutions Limited
Shanghai Electric Group
GE Grid Solutions
Maxwell Technologies
Siemens
Crompton Greaves Consumer Electricals Limited
Schneider Electric
Arteche Group

Recent Developments in the Market:
 In April 2019, Collins Aerospace constructed a new lab. The Grid is a high-voltage lab that is used to design and test a 1MW motor, motor controller, and battery system for a hybrid electric demonstrator aircraft.

Global High Voltage Measuring Equipment Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Voltage, Current, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Capacitive Voltage Transformer
Potential Transformer
Others

By Voltage:
35-400KV
401-800KV
More than 800KV

By Current:
Alternating Current
Direct Current

By Application:
Power Generation
Power Transmission
Industrial
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

ABB Group
Bharat Heavy Electricals Limited (BHEL)
CG Power and Industrial Solutions Limited
Shanghai Electric Group
GE Grid Solutions
Maxwell Technologies
Siemens
Crompton Greaves Consumer Electricals Limited
Schneider Electric
Arteche Group

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.