Equipment that carry high voltage electricity supply are known as high voltage equipment. This equipment preferable used in electronic devices which require high electricity voltage supply. High voltage equipment also used in transmission and distribution network, and they help to avoid damage at certain level, where electricity voltage is high.
Industrial development, coupled with implementation of smart grid in developed and developing countries is a major factor driving growth of the global high voltage equipment market. In addition, rising need for electricity from industrial sector and upgradation of transmission network infrastructure are other factors expected to drive growth of the global high voltage equipment market.
However, high cost of high voltage equipment is a major factor challenging growth of the global high voltage transmission market.
Technological advancement such as development of ultra-high-voltage power transmission equipment is expected to present new opportunities to market player operating in the global high voltage equipment market over the forecast period.
The global high voltage equipment market is segmented on the basis of equipment and region. On the basis of region, the global high voltage equipment is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to presence of leading manufacturers of switches, power transformers, instrument transformer, and high penetration and adoption rate for high voltage equipment in the region. Europe market accounts for the second largest revenue share contribution to the global high voltage equipment market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number infrastructure activities related to smart grid and electric distribution in emerging economies in this region.
Prominent market players operating in the global high voltage equipment are Hitachi Ltd., Bharat Heavy Electricals Limited, Siemens AG, Toshiba, ABB Ltd., General Electric Company, Alstom SA, Mitsubishi Electric Corporation, Fuji Electric, NR Electric Co., Ltd., Crompton Greaves Ltd., Tebian Electric Apparatus, and Larsen & Toubro Limited.
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