High Voltage Equipment Market: Size, Share, Growth, Trends, and Global Industry Analysis: By Equipment Type, By Voltage Level, By Application, and Region Forecast 2019-2030.
High Voltage Equipment Market size was valued at US$ 142.7 billion in 2023, at a CAGR of 5.8% from 2024-2030. The market for high-voltage equipment is driven by the need for reliable infrastructure due to the rapid growth of transmission networks and increasing demand for electricity. The market has grown due to technological developments in smart grid technologies and the incorporation of renewable energy.
However, the market has been restricted by things like high installation and maintenance expenses and strict regulatory frameworks. Opportunities lie in the increasing energy-efficient solution uptake and grid upgrade expenditures. The increased focus on environmental issues and sustainability also creates a climate that is conducive to innovation. The market's future is anticipated to be shaped by trends that will enhance reliability and efficiency, such as the move towards digitization, the deployment of smart grids, and the development of advanced insulation materials.
The high voltage equipment market share is inclusive of several companies such as ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., and Mitsubishi Electric.
By Equipment Type: Due to their vital function in the distribution and transmission of electricity, transformers are the most common type of equipment in the high voltage equipment market. They ensure that there is no energy loss during long-distance transmission by effectively stepping up or down voltage levels. Transformer dependability becomes critical to preserving grid efficiency and stability as the world's energy demands rise. Furthermore, in order to incorporate these fluctuating energy inputs into the current system, the transition to renewable energy sources requires sophisticated transformers. Their adaptability to a wide range of applications in the commercial, residential, and industrial domains reinforces their leading position in the market.
By Voltage Level: The high voltage (HV) segment dominates the high voltage equipment market due to the increasing demand for efficient power transmission over long distances. Modern power grids depend on high voltage levels, typically more than 35 kV, to minimize energy losses during the transmission of electricity. HV equipment is essential for preserving grid stability and dependability given the growth of renewable energy sources and the requirement for their integration into current infrastructures. Moreover, high voltage solutions are in great demand due to investments in smart grid technologies and infrastructure improvements, which increases their market dominance.
By Application: Power transmission is the initial stage in the market's response to the need for efficient long-distance energy transfer from generating facilities to substations and distribution networks. This segment uses ultra-high voltage (UHV) and extra high voltage (EHV) technology to offer reduced power losses during transmission, supporting energy sustainability. Medium Voltage (MV) equipment is essential to power distribution because it allows higher voltage electricity to be reduced to levels suitable for local use, ensuring a consistent and reliable supply of electricity to commercial, industrial, and residential areas. Substations are another essential use. They employ a range of high-voltage components, including transformers, circuit breakers, and switchgear, to regulate voltage levels and for effective distribution.
Study Period
2024 - 2030Base Year
2023CAGR
5.8%Largest Market
EuropeFastest Growing Market
Asia pacific
The market for high-voltage equipment has been propelled by many significant variables that are altering the energy landscape. First and foremost, the growing worldwide demand for electricity which is being driven by population growth, urbanization, and industrial expansion is driving the need for efficient power transmission and distribution networks. When renewable energy sources become more and more popular as alternatives to traditional fossil fuels, there is an increasing demand for high-voltage equipment to efficiently transport power generated from geographically scattered renewable sites to population centers. Additionally, governments and utility companies worldwide are sponsoring grid modernization initiatives to improve the sustainability, dependability, and effectiveness of their electrical infrastructures.
Various restraints have a substantial influence on the market for high-voltage equipment. High installation and maintenance costs may act as barriers to entrance, especially for companies with limited budgets. The complexity of equipment installation additionally requires the use of expert workers, which raises expenses even further. Strict safety requirements and regulatory frameworks can make compliance difficult and cause delays in project completion. Uncertainties and changes in the market may also discourage investments in new infrastructure. When combined, these variables offer difficulties that may restrict market expansion and impede the extensive installation of high-voltage equipment.
The equipment market is full of prospects since power infrastructure investments are growing. Modern high-voltage equipment is required to improve efficiency and reliability when old power systems are modernized. In addition, the increasing use of renewable energy sources like solar and wind requires the integration of high-voltage networks for long-distance electrical transmission. Moreover, as businesses look to lower operating expenses and environmental effects, energy-efficient solutions are becoming more popular. Opportunities for innovation in equipment design and technology are expected to increase as sustainability gains priority.
The market for high-voltage equipment has been driven by numerous trends that are improving its growth prospects. As utilities implement smart grid technology to optimize power distribution and enhance grid reliability, digitalization is leading the way. The development of energy-efficient high-voltage equipment is being fueled by the growing emphasis on sustainability, which lowers the carbon footprint of power systems. Furthermore, improvements in insulating materials are improving high-voltage devices' performance and safety. In addition, the industry is moving toward automation and remote monitoring, which enables better power system management. All of these advances add up to a more effective and durable energy infrastructure.
Report Benchmarks |
Details |
Report Study Period |
2024 - 2030 |
Market Size in 2023 |
US$ 142.7 billion |
Market CAGR |
5.8% |
By Equipment Type |
|
By Voltage Level |
|
By Application |
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The global high voltage equipment market was valued at US$ 142.7 billion in 2023, at a CAGR of 5.8% over the forecast period (2024-2030).
• Increasing electrical utilization.
• Modernization and improvement of infrastructure.
• Growth in the use of renewable energy.
• Efforts by the government to strengthen grid resiliency.
• Technology related to smart grid developments.
• Increasing urbanization and industrialization.
• Raising expenditure on distribution and transmission networks.
• The adoption of smart grid technologies.
• Increased focus on sustainability and energy efficiency.
• Promoting renewable energy into the systems that already exist.
• Advancement in technology insulation.
ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric, and others are the high voltage equipment market.
1. Executive Summary |
2. Global High Voltage Equipment Market Introduction |
2.1.Global High Voltage Equipment Market - Taxonomy |
2.2.Global High Voltage Equipment Market - Definitions |
2.2.1.Equipment Type |
2.2.2.Voltage Level |
2.2.3.Application |
2.2.4.Region |
3. Global High Voltage Equipment Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4. Global High Voltage Equipment Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global High Voltage Equipment Market By Equipment Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Circuit Breaker |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Disconnector |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Insulator |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Switchgear |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Surge Arrester |
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. Battery Set |
5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
5.7. Capacitors and Filters |
5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.7.3. Market Opportunity Analysis |
5.8. Control Equipment |
5.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.8.3. Market Opportunity Analysis |
5.9. Power Transformer |
5.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.9.3. Market Opportunity Analysis |
5.10. Switches |
5.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.10.3. Market Opportunity Analysis |
5.11. Others |
5.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.11.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.11.3. Market Opportunity Analysis |
6. Global High Voltage Equipment Market By Voltage Level , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. HV-Up to 200kV Voltage |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. EHV-200 to 800kV Voltage |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. HVDC-500kV Voltage |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. UHV-800kV & Above |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Ultra-High Throughput Screening |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
7. Global High Voltage Equipment Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. Power transmission |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Power distribution |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
8. Global High Voltage Equipment Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9. North America High Voltage Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Equipment Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Circuit Breaker |
9.1.2.Disconnector |
9.1.3.Insulator |
9.1.4.Switchgear |
9.1.5.Surge Arrester |
9.1.6.Battery Set |
9.1.7.Capacitors and Filters |
9.1.8.Control Equipment |
9.1.9.Power Transformer |
9.1.10.Switches |
9.1.11.Others |
9.2. Voltage Level Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.HV-Up to 200kV Voltage |
9.2.2.EHV-200 to 800kV Voltage |
9.2.3.HVDC-500kV Voltage |
9.2.4.UHV-800kV & Above |
9.2.5.Ultra-High Throughput Screening |
9.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Power transmission |
9.3.2.Power distribution |
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10. Europe High Voltage Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Equipment Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Circuit Breaker |
10.1.2.Disconnector |
10.1.3.Insulator |
10.1.4.Switchgear |
10.1.5.Surge Arrester |
10.1.6.Battery Set |
10.1.7.Capacitors and Filters |
10.1.8.Control Equipment |
10.1.9.Power Transformer |
10.1.10.Switches |
10.1.11.Others |
10.2. Voltage Level Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.HV-Up to 200kV Voltage |
10.2.2.EHV-200 to 800kV Voltage |
10.2.3.HVDC-500kV Voltage |
10.2.4.UHV-800kV & Above |
10.2.5.Ultra-High Throughput Screening |
10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Power transmission |
10.3.2.Power distribution |
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
10.4.6.Rest of EU |
11. Asia Pacific (APAC) High Voltage Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Equipment Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Circuit Breaker |
11.1.2.Disconnector |
11.1.3.Insulator |
11.1.4.Switchgear |
11.1.5.Surge Arrester |
11.1.6.Battery Set |
11.1.7.Capacitors and Filters |
11.1.8.Control Equipment |
11.1.9.Power Transformer |
11.1.10.Switches |
11.1.11.Others |
11.2. Voltage Level Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.HV-Up to 200kV Voltage |
11.2.2.EHV-200 to 800kV Voltage |
11.2.3.HVDC-500kV Voltage |
11.2.4.UHV-800kV & Above |
11.2.5.Ultra-High Throughput Screening |
11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Power transmission |
11.3.2.Power distribution |
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12. Middle East and Africa (MEA) High Voltage Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Equipment Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Circuit Breaker |
12.1.2.Disconnector |
12.1.3.Insulator |
12.1.4.Switchgear |
12.1.5.Surge Arrester |
12.1.6.Battery Set |
12.1.7.Capacitors and Filters |
12.1.8.Control Equipment |
12.1.9.Power Transformer |
12.1.10.Switches |
12.1.11.Others |
12.2. Voltage Level Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.HV-Up to 200kV Voltage |
12.2.2.EHV-200 to 800kV Voltage |
12.2.3.HVDC-500kV Voltage |
12.2.4.UHV-800kV & Above |
12.2.5.Ultra-High Throughput Screening |
12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Power transmission |
12.3.2.Power distribution |
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13. Latin America High Voltage Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
13.1. Equipment Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Circuit Breaker |
13.1.2.Disconnector |
13.1.3.Insulator |
13.1.4.Switchgear |
13.1.5.Surge Arrester |
13.1.6.Battery Set |
13.1.7.Capacitors and Filters |
13.1.8.Control Equipment |
13.1.9.Power Transformer |
13.1.10.Switches |
13.1.11.Others |
13.2. Voltage Level Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.HV-Up to 200kV Voltage |
13.2.2.EHV-200 to 800kV Voltage |
13.2.3.HVDC-500kV Voltage |
13.2.4.UHV-800kV & Above |
13.2.5.Ultra-High Throughput Screening |
13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Power transmission |
13.3.2.Power distribution |
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.ABB Ltd., Siemens AG |
14.2.2.Larsen & Toubro Limited |
14.2.3.General Electric Company |
14.2.4. Honeywell International, Inc. |
14.2.5.Rockwell Automation, Inc. |
14.2.6.Emerson Electric Co. |
14.2.7.Mitsubishi Electric |
15. Research Methodology |
16. Appendix and Abbreviations |