Global High Voltage Equipment Market 2024-2028
The high voltage equipment market is forecasted to grow by USD 50.38 bn during 2023-2028, accelerating at a CAGR of 7.45% during the forecast period. The report on the high voltage equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising requirements for power from residential, industrial, and commercial sectors, the upgradation of power transmission and distribution infrastructure, and grid modernization initiatives in emerging markets.
Technavio's high voltage equipment market is segmented as below:
By Application
- Power transmission
- Power distribution
By Type
- Transformer
- Switchgear
- Reactive power equipment
- Relay panel
- Others
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the evolution of smart grids as one of the prime reasons driving the high voltage equipment market growth during the next few years. Also, rising number of microgrid networks and electrification of transportation will lead to sizable demand in the market.
The report on the high voltage equipment market covers the following areas:
- High voltage equipment market sizing
- High voltage equipment market forecast
- High voltage equipment market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading high voltage equipment market vendors that include ABB Ltd., ALSTOM SA, Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., DuPont de Nemours Inc., Eaton Corp. Plc, Emerson Electric Co., ETEL TRANSFORMERS PTY LTD., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, Sumitomo Electric Industries Ltd., TBEA Co. Ltd., and Toshiba Corp.. Also, the high voltage equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.