High Voltage Equipment Market

COVID-19 impact analysis

The current COVID-19 pandemic has a negative impact on the high voltage equipment market share, with manufacturing activities being temporarily halted across major manufacturing hubs, resulting in a significant production slowdown. People are becoming significantly more isolated as a result of increased restrictions on public meetings and travel. Due to supply chain delays, stock market instability, halting of airlines, business dealings in the high voltage equipment business are also feeling the effects of the COVID-19 pandemic. It has directly impacted production and demand of high voltage equipment industry causing supply chain and market disruption. As airports are shut down due to lockdown restrictions, the use of high voltage equipment is halted, negatively impacting the high voltage equipment market size. 

Top impacting factors

Industrial development, in conjunction with smart grid implementation in both developed and developing countries, is a major factor driving growth in the global high voltage equipment market growth. In addition, rising industrial demand for electricity and the upgrading of transmission network infrastructure are expected to drive growth in the global high voltage equipment market. Mobile substations are becoming more popular among electronic and telecommunications companies. The installation of mobile substations allows for the restoration of power under adverse weather conditions or in unexpected circumstances, and they are functionally designed to provide temporary power supplies as quickly as possible. Furthermore, these mobile substations include a generator, transformer, metal clad switchgear, outdoor load break switches and breakers, and temporary switching stations. Fuji Electric and ABB Ltd., for example, provide a variety of technologies and products that aid in emission reduction. The Fuji Electric DC High-Speed Vacuum Circuit Breaker employs a dry capacitor, which is both incombustible and environment-friendly. ABB Ltd. also provides gas-insulated high voltage switchgear using SF6 gas, which emits less pollution. Manufacturers are concentrating on producing high-voltage equipment that promotes renewable energy and reduces emissions. For example, DESERTEC, a large-scale project developed in Germany, aims to harness sustainable power from sites where renewable energy resources are abundant and transfer it to consumption centers via high voltage direct current transmission. The high cost of high voltage equipment, on the other hand, is a major impediment to the growth of the global high voltage transmission market opportunity.

Market trends

New product launches to flourish the market

In January 2020, Finolex Cables, an Indian manufacturer of electrical and telecommunication cables announced its entry into the MCCB product category to strengthen its position in the domestic and industrial switchgear markets. These will be manufactured using cutting-edge technology and will be available in differential ratings ranging from 63 to 800 Amps in a variety of pole configurations. Across the country, the switchgears have been introduced in five different frame sizes.

The MCCB launch will further strengthen the company's switchgear basket and provide Finolex cables with access to the massive and robust Industrial switchgear market to serve its retail and panel builder clients.

Surge in usage in gas insulated switchgear

Gas-insulated high voltage switchgear (GIS) is a type of compact metal-enclosed switchgear that contains high voltage components like disconnectors and circuit breakers. Gas-insulated high voltage switchgear (GIS) has numerous advantages, including less field construction work (shorter installation time), flexible designs, low maintenance, and high reliability and safety. In some cases, the main load center is located in a very congested area, but sufficient land for establishing a conventional electrical substation is scarce. GIS is a type of metal-enclosed switchgear that takes up much less space. All the equipment is housed in gas-tight metal enclosures, and SF6 is used to insulate the earthed metal enclosures from the live parts of the equipment. GIS can be used in city buildings, on rooftops and offshore platforms, and in industrial and hydropower plants with limited space. As a result of rising urbanization and industrialization in developing economies, the demand for gas-insulated switchgear is expected to rise significantly during the forecast period.

Key benefits of the report

• This study presents the analytical depiction of the high voltage equipment market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the high voltage equipment market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight high voltage equipment market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed high voltage equipment market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in high voltage equipment market research report

• What are the leading market players active in the high voltage equipment market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future would help in taking further strategic steps?
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