The high-voltage equipment market is anticipated to grow at a CAGR of 6.4% during the forecast period (2025-2035). The market growth is attributed to the global transition to green energy, the growing penetration of transmission and distribution infrastructure, and the growing need to update the transmission infrastructure. Further, the deployment of variable renewable energy and increasing numbers of electric vehicles, and other energy storage technologies require a strong power infrastructure and additional distribution and transmission capacity which in turn is anticipated to drive the global high voltage equipment market.
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The global high-voltage equipment market is segmented by Equipment (Switches Power, Transformer, Instrument Transformer, Reactive Power Equipment, Insulator, Control Equipment, Relay Panel, Carrier Cabinet, Communication Equipment, SCADA, Earthing Material, and Battery Set), and by Voltage Level (4 UHV-Ultra High Voltage, EHV (Extra-High Voltage), HVDC (High Voltage Direct Current), and HV (High Voltage), and geography (into North America, Europe, Asia-Pacific, and the Rest of the World).
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Market Dynamics
The power transformer segment is expected to hold a significant share of the global high-voltage equipment market. The segmental growth is attributed to the growing consumption of electricity, the increasing focus on renewable electric power generation, and the replacement of old transformers with upgraded transformers. Additionally, the advancements in power infrastructure are driving the global market of power transformers.
The Asia-Pacific region is expected to hold a considerable share of the global high-voltage equipment market. The regional growth is attributed to the growing electricity demand. The infrastructure construction for the same is driving the market growth in the Asia-Pacific region.
The major companies serving the global high-voltage equipment market include General Electric Co., ABB Ltd, Crompton Greaves Consumer Electricals Ltd, Hitachi Energy Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaboration, funding, and new product launches.x`
Recent Developments
- In December 2024, Hitachi Energy announced the investment of 1.1 billion CZK (around $47 million) to expand its High Voltage Products factory in Brno, Czech Republic. The facility is expected to be completed by the end of 2025 and will increase the factory’s production capacity by over 40%.
- In October 2024, -Keysight Technologies, Inc. introduced a 4881HV High Voltage Wafer Test System to its semiconductor test portfolio. The equipment enables a parametric test up to 3kV supporting high and low-voltage in one-pass test.
- In September 2024, FORVIA HELLA expanded its portfolio of power electronics for electric vehicles with a new High Voltage PowerBox (HV PowerBox). The HV PowerBox of FORVIA HELLA integrates a high-voltage converter and an onboard charger in one product. It transforms the 400 V or 800 V voltage into 12 volts. It offers high power density with over 3 kW per liter of its volume.
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