High Voltage Equipment Market to be worth $116B by 2020
India, Pune: 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" is now available.
India, Pune: 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” is now available.
According to the report, high voltage equipment market is projected to reach $116 billion by 2020 at a CAGR of 5.6% from 2015 to 2020, reports Digital Journal.
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.
Nearly 20% of the global cumulative market is contributed from China alone, with India, Japan and Australia as 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.
Power transformer and switchgear form the largest market segment.
The key market players in the high voltage equipment include ABB Ltd, Alstom, Siemens, GE DigitalEnergy, Crompton Greaves, Toshiba, Misubishi Electric Corporation and others.
Source: Digital Journal
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