PUBLISHER: The Business Research Company | PRODUCT CODE: 1704522
PUBLISHER: The Business Research Company | PRODUCT CODE: 1704522
High voltage equipment encompasses electrical apparatus specifically designed to manage and regulate high voltages, typically exceeding 1,000 volts. This equipment plays a crucial role in the efficient and secure transmission and distribution of electricity across extensive distances, ensuring reliable power delivery while minimizing losses and maintaining system stability.
The primary categories of high-voltage equipment include switchgear, transformers, reactive power equipment, relay panels, supervisory control and data acquisition (SCADA) systems, among others. Switchgear, for instance, is pivotal in controlling, protecting, and isolating electrical circuits through components such as circuit breakers, fuses, and switches, thereby ensuring both safety and efficient power distribution. Different voltage levels are utilized for various applications, Ultra High Voltage (UHV, 800 kV and above), Extra High Voltage (EHV, 200 kV and above), High Voltage Direct Current (HVDC, 500 kV DC), and High Voltage (HV, 66 kV to 200 kV). These applications cater to diverse industries including power generation, oil and gas, utilities, and various industrial sectors.
The high voltage equipment market research report is one of a series of new reports from The Business Research Company that provides high voltage equipment market statistics, including high voltage equipment industry global market size, regional shares, competitors with a high voltage equipment market share, detailed high voltage equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the high voltage equipment industry. This high voltage equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The high voltage equipment market size has grown strongly in recent years. It will grow from $112.08 billion in 2024 to $121.4 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing focus on electricity, increasing automation capabilities, increasing insulation efficiency, the usage of renewable energy systems, and increasing Industrialization.
The high voltage equipment market size is expected to see strong growth in the next few years. It will grow to $164.69 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the increasing adoption of smart grids, a growing number of initiatives and research activities, increasing demand for electricity, increasing population, and increasing demand for power. Major trends in the forecast period include a modernized electrical grid system, expansion in the Internet of Things (IoT) and smart device applications, integration with renewable energy systems, technological advancements, and launches of new products and services.
The rising demand for electricity is expected to drive the expansion of the high-voltage equipment market in the future. This surge in electricity demand stems from global population growth, advancing economies, and the widespread adoption of electronic devices, appliances, and digital technologies. High-voltage equipment plays a crucial role in meeting this escalating power demand by enabling efficient transmission, enhancing capacity, ensuring reliability, integrating renewable energy sources, fostering industrial development, and bolstering overall grid resilience. For example, in August 2024, Eurostat reported that the European Union's gross electricity production increased from 2,784 TWh in 2020 to 2,907 TWh in 2021. Additionally, according to Australia's Department of Climate Change, Energy, the Environment, and Water, Australia's total energy generation rose by 2% in 2021-2022 to 272 TWh (978 PJ). These figures underscore how the growing need for electricity is propelling the high-voltage equipment market forward.
Major companies in the high-voltage equipment market are actively innovating, introducing advanced products such as high-voltage pulse generators to improve efficiency and reliability in electrical systems. A high-voltage pulse generator is designed to produce precise electrical pulses with high voltage, short duration, and high peak voltage, suitable for a wide range of applications across various industries. For example, in March 2024, Sydor Technologies, a US-based company specializing in comprehensive solutions, launched a 10 kV high-voltage pulse generator. This innovative device features customizable timing and amplitude settings, tailored for applications in scientific research, material testing, and industrial processes. Its robust construction ensures dependable performance in challenging environments, while its user-friendly interface facilitates seamless operation and integration with existing systems, enhancing overall efficiency and versatility in high-voltage applications.
In August 2022, Maschinenfabrik Reinhausen GmbH, a Germany-based manufacturer of transformers and other energy technology products, acquired Advanced Testing Systems Inc. for an undisclosed amount. This acquisition allows Maschinenfabrik Reinhausen to broaden its service portfolio and enhance its market presence in the North American electrical testing industry. Advanced Testing Systems Inc., a US-based company, specializes in providing electrical testing and services for medium and high-voltage equipment.
Major companies operating in the high voltage equipment market are Hitachi Ltd., Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Larsen & Toubro Limited, Toshiba Corporation, Eaton Corporation, Alstom SA, TBEA Co. Ltd., Fuji Electric Co. Ltd., WEG S.A., El Sewedy Electric Co., Bharat Heavy Electricals Limited, Meidensha Corporation, NARI Group Corporation, S&C Electric Company, Ormazabal Electric S.A., CG Power and Industrial Solutions Limited, Crompton Greaves Ltd., Arteche, VitzroEM Co. Ltd.
Asia Pacific was the largest region in the high voltage equipment market in 2024. The regions covered in the high voltage equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the high voltage equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The high voltage equipment consists of sales of circuit breakers, insulators, power capacitors, substation equipment, and power converters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High Voltage Equipment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high voltage equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high voltage equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high voltage equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.