Insulated Gate Bipolar Transistors (IGBTs) are fueling growth of the High Voltage Equipment Market
High Voltage Equipment Market The global High Voltage Equipment Market is estimated to be valued at US$ 115.41 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. High voltage equipment refers to devices used for transmission and distribution of electric power from generators to consumers at high voltages. Such equipment includes cables, circuit breakers, transformers, and insulators which handle voltages in excess of 1 kV and are designed to operate effectively and efficiently at these high voltages. The market has witnessed significant growth owing to increasing demand for insulated gate bipolar transistors (IGBTs) which improve the conversion of electric power. IGBTs provide greater efficiency compared to thyristors and enable more compact designs of high voltage equipment. Market Overview: The high voltage equipment market comprises produc...