Rise in electricity demand with increasing transmission infrastructure additions are the key factors for the increasing demand of high voltage equipment.
Pune, India -- (SBWIRE) -- 11/20/2015 -- The report "High Voltage Equipment Market by Type (Power Transformers, Switchgear, Switches, Control, Reactive Power, Instrument Transformer, Relay Panel, Earthing Equipment, Battery Set), by Voltage & by Region - Global Forecast & Trends to 2020", defines and segments the high voltage equipment market with analysis and forecast of the global power Transmission infrastructure. It identifies key drivers and restraints in the market with analysis of trends, and opportunities.
Browse 72 tables and 53 figures spread through 214 Pages and in-depth TOC on "High Voltage Equipment Market - Global Forecast & Trends to 2020"
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The market is segmented, and revenues are forecast on the basis of regions, such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. High voltage equipment market is projected to reach $116 billion by 2020 at a CAGR of 5.6% from 2015 to 2020.
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Increasing implementation of smart grid across major countries, replacement and upgrade of aging transmission infrastructure and new capacity additions of generation, including renewable, and transmission are the key market drivers of the high voltage equipment market.
Asia-pacific is currently the largest segment for high voltage equipment market and is expected to continue to be so in the next five years. This region accounted for more than 40% of the total market in 2014. It is also the fast growth markets with continued investments towards T&D network expansion in countries such as China, India and Japan.
Globally, China, is the single largest market with significant investment plans towards transmission in all areas of HV, EHV and UHV networks. Nearly 20% of the global cumulative market is contributed from China alone in the next five years. India, Japan and Australia are the other key countries in Asia-Pacific, which together contribute 40% of the total Asia-Pacific market. Demand in India is set to grow the fastest in the next five years, with Power Grid Corporation India Limited (PGCIL) the central transmission company of India, having announced USD 3.5 billion investments for 2016 towards expansion of central transmission links.
SCADA is the fastest growing segment while power transformer and switchgear are the largest. Other key potential markets include control equipment, switching, reactive power compensation, instrument transformers and communication equipment.
The key market players in the high voltage equipment include ABB Ltd (Switzerland), Alstom (France), Siemens AG (Germany), GE DigitalEnergy (U.S), Crompton Greaves (India), Toshiba, Misubishi Electric Corporation (Japan) and others. Contracts and agreements have been the key strategic activities towards business expansion by most of these players. Other strategy steps include merger & acquisitions, product launches and joint ventures.
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