Seattle, WA -- (SBWIRE) -- 10/01/2019 -- Global high voltage equipment market was valued at US$ 92,671.3 Mn in 2018, and is expected to exhibit a CAGR of 7.4% over the forecast period to reach US$ 175,696.7 Mn in 2027. In terms of volume, high voltage equipment market was pegged at 1,126,697.0 thousand units in 2018, and is expected to reach 1,746,574.4 thousand units in 2027, exhibiting a CAGR of 5.0% over the forecast period.

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Asia Pacific accounted for 37.1% revenue share in the global high voltage equipment market in 2018. Increasing demand for high voltage equipment in power transmission and distribution is driving growth of the high voltage equipment market.

High voltage equipment market study analyzes switchgear, switches, surge arrester, battery sets, disconnector, circuit breaker, insulator, capacitor & filters control equipment, and other equipment prospects. According to Coherent Market Insights, others segment, which includes transformers and other equipment accounted for the largest share in 2018, followed by switchgear segment.

Pressure of high performance on transmission systems has resulted in longer lines, higher voltages and currents, demand for higher voltage rate, and more effective equipment by end users. Energy losses are prevented by increasing the voltage above 800 kV with Ultra-High Voltage (UHV) transmission lines. Therefore, key players in the market are focused on developing ultra-high voltage equipment for power transmission to longer distances.

UHV helps in achieving efficiency and lowering transmission costs, which is expected to fuel growth of this segment. Several manufacturers such as General Electrical and Fuji Electric Co., Ltd. are developing efficient and cost effective equipment by lowering transmission cost, which are based on UHV technology and are more reliable with respect to enhanced performance. Increasing demand for ultra-high voltage equipment is expected to create significant growth opportunity for market players in the high voltage equipment market.

Asia Pacific held dominant position in the market in 2017. This market was valued at US$ 32,106.9 Mn in 2018, and it is expected to generate US$ 68,859.6 Mn by 2027 at the CAGR of 8.1% over the forecast period from 2019 to 2027. In terms of volume, Asia Pacific high voltage equipment market accounted for the largest share of 38.5% in 2018. This market was pegged at 416,004.5 thousand units in 2018, and it is expected to reach 748,309.4 thousand units by 2027 at the CAGR of 6.2 % over the forecast period.

In terms of revenue, EHV-200 to 800kv segment in the high voltage equipment market accounted for the largest share of 33.5% in 2018. This segment was valued at US$ 31,055.5 Mn in 2018, and it is expected to exhibit a CAGR of 8.1 % over the forecast period from 2019 to 2027. Electrical power is generated at different generating stations. These generating stations may not be situated at the load center.

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Major players operating in the global high voltage equipment market include, ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., Schneider Electric SE, Alstom SA, and Fuji Electric