High Voltage Equipment Market Size 2020: By Keyplayers ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Toshiba Corpor

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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Global High voltage Equipment Market: Key Players
Major players operating in the global high voltage equipment industry 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.

Global high voltage equipment market was valued at US$ 92,671.3 Mn in 2018, and is expected to exhibit a CAGR of 7.4% over the forecast period to reach US$ 175,696.7 Mn in 2027. In terms of volume, high voltage equipment market was pegged at 1,126,697.0 thousand units in 2018, and is expected to reach 1,746,574.4 thousand units in 2027, exhibiting a CAGR of 5.0% over the forecast period. Asia Pacific accounted for 37.1% revenue share in the global high voltage equipment market in 2018. Increasing demand for high voltage equipment in power transmission and distribution is driving growth of the market. The global high voltage equipment market is fragmented. The players compete based on technological advancements in their products for various applications under different environments.
In terms of revenue, Asia Pacific high voltage equipment market accounted for the largest share of 37.1% in 2018, followed by Europe. As most of the European countries focus on high energy independence and a shift towards a less oil intensive sector, the region contributed 24.8% revenue share in the global high voltage equipment market in 2018. The electrical and electronics industry in Europe is focused on increasing investments in production automation and transition to new production processes thus increasing demand for robotics, integrated assembly solutions (IAS), which is fueling growth of the high voltage equipment market in Europe. European transmission and distribution companies design, manufacture, and install high- and medium-voltage products to transmit and distribute electricity from generation to the end user worldwide. Major companies in Europe are focused on acquiring contracts to enhance their market share. For instance, in 2009, Areva T&D received a contract from Rajasthan Rajya Vidyut Prasaran Nigam Ltd. to design and build a 765 kV turnkey substation including extra high voltage transformers and reactors at Anta near Kota, India. This contract also included a long term maintenance for the substation. Germany is the major revenue contributor in Europe high voltage equipment market. In 2018, Germany accounted for 27% share of Europe high voltage equipment market.
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.

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Major chip producing companies are focused on developing a generation of smaller control equipment to ensure optimum power supply while reducing the size of the chip for computers and other consumer electronic devices. Furthermore, such compact size control equipment can be used in devices such as battery-operated automotive electronics, portable electronics, solar and wind-power systems, and wireless communications to ensure optimal functionality.

Moreover, export of electricity to Europe, as proposed by the DESERTEC consortium, is expected to increase development of renewable electricity in North Africa. Such initiatives have resulted in usage of 100GW (gigawatt) of renewable capacity that produce 400TWh (terawatt hour) of electricity for export to Europe, which in turn is fueling demand for high voltage equipment in North Africa.
Economic growth in Saudi Arabia across various sectors such as power, infrastructure, and petrochemicals is increasing demand for high voltage equipment. Rapid infrastructure development requires high power in terms of T&D (Transmission and Distribution), which subsequently fuels the high voltage equipment market growth. Middle East accounted for the highest share i.e. XX% in rest of the world high voltage equipment market.

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