The Global High Voltage Equipment Market Growth Accelerated By Increased Demand For Power Generation And Transmission

High Voltage Equipment Market

High voltage equipment plays an important role in power generation, transmission, and distribution sectors. High voltage equipment such as gas-insulated switchgear, circuit breakers, and transformers facilitate reliable bulk power transmission over long distances. Adoption of high voltage equipment is growing at a rapid pace owing to increasing investments toward upgrading aging power infrastructure and expanding transmission and distribution networks. With rapid industrialization and urbanization, the demand for electricity has surged tremendously. This has compelled countries to boost their power generation capacities as well as strengthen their transmission infrastructure which is fueling the growth of the global high voltage equipment market.

The global high voltage equipment Market is estimated to be valued at US$ 132.96 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased demand for power generation and transmission has spurred investments in smart grid technologies across major countries. Advanced high voltage equipment integrated with monitoring and communication capabilities are being increasingly adopted to enable two-way power flow and improve grid stability. Leading manufacturers are also focusing on developing sustainable high voltage equipment with reduced environmental footprint. For instance, SF6 gas-insulated switchgear emit greenhouse gas SF6 which has high global warming potential. Key players are innovating with alternative gas mixtures and solid insulation to address sustainability concerns. Widespread adoption of renewable energy is another key driver propelling the demand for high voltage equipment market.
Segment Analysis

The global high voltage equipment market is dominated by power transmission segment due to growing investments in upgrading aging power grid infrastructure. This segment deals with apparatus operated at extreme high voltages of 115 kV and above and caters to bulk power transmission from substations to consumers. Rapid industrialization and infrastructural development especially in Asia Pacific has significantly boosted investments in high capacity transmission networks.

Key Takeaways

The Global High Voltage Equipment Market Demand is expected to witness high growth over the forecast period from 2024 to 2031. The global high voltage equipment Market is estimated to be valued at US$ 132.96 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.

Regional analysis shows that Asia Pacific region is currently dominating as well as growing the fastest in the global market. This growth can be attributed to ongoing expansion of transmission and distribution infrastructure to meet rising power demand in heavily populated countries like China and India. Moreover, governments of various countries are undertaking initiatives to replace aging grid assets with smart and sustainable solutions.

Key players operating in the high voltage equipment market are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Siemens Healthineers AG, Quidel Corporation, Novigenix SA, Hemosure Inc., Exact Sciences Corp., Epigenomics Inc., Olympus Corporation, and Clinical Genomics Technologies Pty Ltd., among others. Sysmex Corporation, a leading Japanese diagnostic company has been focusing on development of novel biomarker tests like liquid biopsy for early cancer screening. Recently the company partnered with Epigenomics AG to co-develop blood tests for liver cancer detection based on blood DNA methylation changes.

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