Global High Voltage Equipment Market Analysis 2022
The Global High Voltage Equipment Market is expected to reach $204.55 billion by 2028 growing at a CAGR of 7.6% from 2021 to 2028. Equipment that carries a high voltage electricity supply is known as high voltage equipment. This equipment is preferred for use in electronic devices that need a high voltage supply of electricity. High-voltage equipment is an essential component of the electric power system.
Factors such as the increasing need for electricity from the industrial sector and the up-gradation of transmission network infrastructure are driving the growth of the market. However, the high cost of the equipment is restraining the growth of the market.
Based on equipment, the power transformer segment is going to have a lucrative growth during the forecast period owing to the increasing demand for electricity from emerging economies such as China and India and rising power generation and distribution boosting demand for high voltage power transformers.
The key vendors mentioned are Toshiba, Alstom SA, Siemens AG, NR Electric Co., Ltd., Mitsubishi Electric Corporation, Larsen & Toubro Limited, Hitachi Ltd., General Electric Company, Fuji Electric, Crompton Greaves Ltd., Bharat Heavy Electricals Limited, ABB Ltd. and Tebian Electric Apparatus.
Voltage Levels Covered:
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