High Voltage Equipment Market Set to Witness Steady Growth through (2018-2026)
High voltage equipment market study analyzes switchgear, switches, surge arrester, battery sets, disconnector, circuit breaker, insulator, capacitor & filters control equipment, and other equipment prospects. According to Coherent Market Insights, the others segment that includes transformers and other equipment accounted for the largest share in 2018, followed by the switchgear segment.
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This report provides in-depth analysis of the high voltage equipment market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2019– 2027), considering 2017 as the base year
Companies covered as part of this study include ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., Schneider Electric SE, Alstom SA, and Fuji Electric.
Market Drivers: Increasing Development of Transmission and Distribution (T&D) Networks
High voltage equipment include power transformers, switchgears, control equipment, communicating devices, and insulators. All the mentioned equipment are preferably used in electronics devices and require high voltage electricity supply. Increasing demand for electricity in highly populated countries such as India and China has generated need for augmenting the power generation capacity, which is required to be transmitted by new and upgraded power transmission and distribution networks. Continuous infrastructure investments in power transmission and distribution equipment in developed and emerging regions is expected to augment demand for high voltage equipment. Furthermore, increasing demand for uninterrupted electricity supply in industrial sectors is expected to lead to high demand for high voltage equipment
The control equipment segment is expected to exhibit the highest growth rate during the forecast period
The control equipment segment generated revenue of US$ 6,795.0Mn in 2017. By 2027, the segment is projected to reach US$ 15,526.5Mn with a CAGR of 8.9% over the forecast period.
In terms of volume, the control equipment segment was pegged at 9,411.8 thousand units in 2017. By 2027, the segment is projected to reach 16,511.2 thousand units with a CAGR of 6.4% over the forecast period. An electronic device designed to maintain voltage level of a power source is known as a control equipment. The device plays a significant role in energy conservation. The factors that propel growth of this segment include, increasing demand for high voltage equipment due to rapid urbanization & industrialization, and technological advancements. The features of control equipment such as ease of use, compact size, low cost, and lesser noise drive their demand. Moreover, with the advancements in technology, the application of control equipment is increasing in communication technology, consumer electronics, and automobile industries, subsequently increasing demand for control equipment in these industries.
Global High voltage equipment Market, By Equipment Type:
◦ Circuit Breaker
◦ Surge Arrester
◦ Battery Set
◦ Capacitors and Filters
◦ Control Equipment
Global High voltage equipment Market, By Voltage Level:
◦ HV-Up to 200kV Voltage
◦ EHV-200 to 800kV Voltage
◦ HVDC-500kV Voltage
◦ UHV-800kV & Above
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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