Market Overview:

High voltage equipment is predominantly used for transmission and distribution of electricity across long distances and to end-user industrial and commercial applications. Such equipment includes cables, circuit breakers, transformers, and switchgears. Growing investments in transmission and distribution infrastructure projects coupled with increasing demand for stable power supply is expected to drive demand for high voltage equipment.

Key Takeaways

The Global High Voltage Equipment Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing investments in transmission and distribution infrastructure to ensure reliable power supply. The market size for High Voltage Equipment is estimated to reach US$ 115.41 Bn in 2023.

Regional analysis

Asia Pacific dominates the global high voltage equipment market with over 35% share in 2023, led by China, India, and Japan. The region is expected to continue its dominance owing to rapid industrialization, urbanization and expansion of T&D lines to meet the rising electricity demand in the region. North America and Europe are also major markets driven by investments in smart grid modernization programs.

Key players

Key players operating in the High Voltage Equipment market are 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.

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