High Voltage Equipment Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, India, Germany, UK - Size and Forecast 2024-2028

Published: Mar 2024 Pages: 179 SKU: IRTNTR77799

High Voltage Equipment Market Forecast 2024-2028

The high voltage equipment market size is forecast to increase by USD 50.38 billion at a CAGR of 7.45% between 2023 and 2028.  The market's growth trajectory is influenced by various factors, notably the increasing demand for electricity across residential, industrial, and commercial domains. This surge necessitates significant enhancements in energy transmission and distribution infrastructure. Additionally, the modernization of grids in emerging economies is a pivotal driver. These initiatives aim to bolster energy delivery efficiency and reliability. By addressing infrastructure shortcomings and leveraging technological advancements, the energy sector can meet evolving consumer needs and support economic growth. The integration of renewable energy sources, adoption of smart grid solutions, and focus on energy efficiency are also contributing to the market's expansion, ensuring a sustainable and resilient energy ecosystem for the future. Our report examines historic data from 2018 - 2022, besides analyzing the current and forecasts market scenario.

Moreover, the APAC market experiences growth driven by urbanization's acceleration and regional government initiatives for rural electrification. ABB Ltd provides high-voltage equipment like switchgear and breaker solutions reaching up to 1200 kilovolts AC and 1100 kilovolts DC. Similarly, ALSTOM SA offers high-voltage equipment such as lightning arresters, including 500kV insulator-type transformers.

Market Forecasting and Size

Market  Forecast 2024-2028

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Market Dynamics

The market is driven by the increasing demand for energy in remote areas, leading to the growth of solar energy farms and wind energy farms. Advancements in high-voltage measuring equipment and smart grid integration are notable trends, enhancing electricity measurement accuracy and energy efficiency. However, challenges such as grid modernization projects and carbon emissions reduction pose significant hurdles. Overcoming these challenges requires innovative solutions in monitoring systems, sensor technology, and renewable energy systems to meet the rising global demand for electricity while reducing environmental impact. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Key Market Driver - Rising requirements for power from residential, industrial, and commercial sectors

The increasing demand for power, coupled with an increasing global population, has fuelled the need for high-voltage equipment such as transformers and switchgear. In addition, rapid industrial growth in emerging economies such as China, India, Indonesia, Malaysia, Vietnam, Brazil, Argentina, Nigeria, and Ethiopia has spiked demand for energy from the industrial and commercial sectors. Furthermore, high-voltage equipment such as transformers are likely to find high adoption in these countries.

Moreover, the growth in per capita income has resulted in the extensive use of electrical and electronic equipment in these emerging economies, thereby enhancing the demand for power. In addition, developing countries, particularly in Asia and Africa, have poor distribution networks that are susceptible to frequent electricity outages and losses. Thus, these countries are expanding and upgrading their power distribution infrastructure in rural and remote areas to address the rising demand for energy. Hence, such factors are driving the market during the forecast period.

Significant Market Trends - Evolution of smart grids

Smart grids represent a modernized electrical grid system that utilizes advanced technologies for more efficient, dependable, and sustainable power management. In addition, high-voltage equipment plays a pivotal role in enabling the functionalities of smart grids. Furthermore, smart grids integrate various sensors, communication technologies, and automation to enhance the monitoring, control, and optimization of power distribution.

Moreover, high-voltage transformers, circuit breakers, and other equipment are essential components within this advanced grid infrastructure. In addition, they facilitate the transmission and distribution of electricity at elevated voltage levels, contributing to the overall efficiency of smart grid operations. Furthermore, one key aspect of the smart grid evolution is the emphasis on real-time data monitoring and analytics. In addition, high-voltage equipment equipped with sensors and communication capabilities enables grid operators to gather valuable insights into power flow, voltage levels, and equipment health. Hence, such factors are driving the market during the forecast period.

Major Market Challenge - Stringent environmental regulations associated with manufacturing of high-voltage equipment

Governments and international bodies are increasingly enforcing stringent standards to address environmental concerns, focusing on reducing emissions, enhancing energy efficiency, and promoting sustainable practices. In addition, these regulations impact various aspects of the global market.  Furthermore, environmental regulations often target the reduction of greenhouse gas emissions, prompting the global market to develop and adopt technologies that minimize the environmental impact.

Moreover, regulations may mandate lower emissions during the production and operation of high-voltage equipment. In addition, sulfur hexafluoride (SF6) is a potent greenhouse gas commonly used in high-voltage equipment as an insulating medium. However, owing to its high global warming potential, many countries are implementing regulations to phase out or limit the use of SF6 in electrical equipment. Hence, such factors are hindering the market during the forecast period.

Market Segmentation by Application, Type, and Geography

The market is experiencing a surge in demand, especially in remote areas where traditional power infrastructure is limited. This demand is driven by the rapid expansion of solar energy farms and wind energy farms, necessitating robust transmission grids and accurate electricity measurement tools. Key players in the market are focusing on developing advanced high-voltage measuring equipment to ensure the safe and efficient flow of electric currents in power generation, substations, and power transmission systems. These advancements are crucial for maintaining the reliability of transmission and distribution networks and the overall electric power system. Technological innovations such as monitoring systems, sensor technology, and smart grid integration are at the forefront of the market's growth. These advancements not only enhance energy efficiency but also contribute to grid modernization projects and renewable energy systems, leading to carbon emissions reduction.

Application Segment Analysis:

The power transmission segment is estimated to witness significant growth during the forecast period. The power transmission segment in the global market is witnessing significant growth driven by several key factors. Firstly, the increasing demand for electricity, fuelled by urbanization, industrialization, and the growing population, necessitates efficient power transmission systems. In addition, high-voltage equipment, including transformers, circuit breakers, and switchgear, plays a crucial role in ensuring the reliable and efficient transfer of electrical energy over long distances.

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The power transmission segment was the largest segment and was valued at USD 52.95 billion in 2018. Moreover, the integration of renewable energy sources, including wind and solar power, into the grid requires robust high-voltage equipment to manage the intermittent nature of these sources. In addition, as countries worldwide focus on transitioning toward cleaner energy solutions, the demand for high-voltage equipment to support renewable energy integration is escalating. Furthermore, the need for grid modernization and smart grid initiatives is contributing to the growth of the power transmission segment. In addition, high-voltage equipment with advanced technologies, such as digital monitoring and control systems, enhances grid reliability, minimizes losses, and enables more effective energy management. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Type Segment Analysis:

Based on the type, the market has been segmented into transformer, switchgear, reactive power equipment, relay panels, and others. The transformer segment will account for the largest share of this segment. Transformers are key components in electrical systems, serving the fundamental purpose of voltage regulation and transmission efficiency. In addition, the ongoing global focus on infrastructure development, especially in emerging economies, has significantly increased the demand for electrical power. Moreover, transformers play a vital role in transmitting electricity over long distances, ensuring efficient power delivery to meet the growing needs of infrastructure projects, including industrialization and smart city initiatives. Furthermore, the rise of renewable energy sources, such as wind and solar, has led to an increased need for transformers. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Regional Analysis

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APAC is estimated to contribute 49% to the growth by 2028.  Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. APAC region is witnessing massive demand for electricity, owing to the considerable growth in electricity-consuming sectors. In addition, the rising urban population and an increase in the standard of living have made electricity a valuable commodity in many major countries in the region. Moreover, this has compelled many of these countries to open up the power sector for investments by private players. In addition, with the growing population in the region, the need for power has been steadily increasing. Furthermore, the growing rate of urbanization and the government's rural electrification plans have also raised electricity demand. Hence, such factors are driving the market growth in APAC during the forecast period.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Bharat Heavy Electricals Ltd: The company offers high voltage equipment such as Gas Insulated Switchgear with high reliability, safety, and small space requirements.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

CG Power and Industrial Solutions Ltd., DuPont de Nemours Inc., Eaton Corp. Plc, Emerson Electric Co., ETEL TRANSFORMERS PTY LTD., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, Sumitomo Electric Industries Ltd., TBEA Co. Ltd., and Toshiba Corp. 

Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Application Outlook 
    • Power transmission
    • Power distribution
  • Type Outlook 
    • Transformer
    • Switchgear
    • Reactive power equipment
    • Relay panel
    • Others
  • Region Outlook
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The market is undergoing significant transformations driven by various factors such as the growing demand for renewable energy sources like solar energy farms and wind energy farms. These energy farms require robust transmission grids and precise electricity measurement tools. High-voltage measuring equipment plays a crucial role in ensuring the safety and efficiency of electric currents in power generation, substations, and laboratories. As industries embrace electricity-consuming technologies such as robots, electric cars, and energy independence, the need for advanced high-voltage equipment becomes paramount. Companies like ABB Ltd and ALSTOM SA are pivotal in providing solutions for this transition, offering high-quality equipment for power generation and power transmission.

Moreover, the market is also influenced by factors like the transition to new production processes, smart grid technologies, and the rising global demand for electricity. However, challenges such as limited infrastructure, operational limitations, and volatility in raw material prices pose hurdles to the industry's growth. Innovations in energy storage systems, smart meters, and electric vehicle charging infrastructure are reshaping the high-voltage equipment landscape, driving advancements in grid modernization and carbon emissions reduction initiatives. The future of the market hinges on its ability to integrate renewable energy sources efficiently while ensuring the reliability and safety of power distribution networks.

Market Scope

Report Coverage

Details

Page number

179

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.45%

Market Growth 2024-2028

USD 50.38 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

7.25

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 49%

Key countries

US, China, India, Germany, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., ALSTOM SA, Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., DuPont de Nemours Inc., Eaton Corp. Plc, Emerson Electric Co., ETEL TRANSFORMERS PTY LTD., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, Sumitomo Electric Industries Ltd., TBEA Co. Ltd., and Toshiba Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2028
  • Precise estimation of the market growth and trends and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Market growth and forecasting across APAC, Europe, North America, South America, and the Middle East and Africa
  • A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive market report analysis of factors that will challenge the growth of market  companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global high voltage equipment market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global high voltage equipment market 2018 - 2022 ($ billion)
    • 4.2 Application Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
    • 4.3 Type Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Power transmission - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Power transmission - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Power transmission - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Power transmission - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Power transmission - Year-over-year growth 2023-2028 (%)
    • 6.4 Power distribution - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Power distribution - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Power distribution - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Power distribution - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Power distribution - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application ($ billion)
      • Exhibit 43: Data Table on Market opportunity by Application ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 44: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on Type - Market share 2023-2028 (%)
    • 7.2 Comparison by Type
      • Exhibit 46: Chart on Comparison by Type
      • Exhibit 47: Data Table on Comparison by Type
    • 7.3 Transformer - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Transformer - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 49: Data Table on Transformer - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 50: Chart on Transformer - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Transformer - Year-over-year growth 2023-2028 (%)
    • 7.4 Switchgear - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Switchgear - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Data Table on Switchgear - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 54: Chart on Switchgear - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Switchgear - Year-over-year growth 2023-2028 (%)
    • 7.5 Reactive power equipment - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Reactive power equipment - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Reactive power equipment - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Reactive power equipment - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Reactive power equipment - Year-over-year growth 2023-2028 (%)
    • 7.6 Relay panel - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Relay panel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Relay panel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Relay panel - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Relay panel - Year-over-year growth 2023-2028 (%)
    • 7.7 Others - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.8 Market opportunity by Type
      • Exhibit 68: Market opportunity by Type ($ billion)
      • Exhibit 69: Data Table on Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 71: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 72: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 73: Chart on Geographic comparison
      • Exhibit 74: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 87: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 95: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 US - Market size and forecast 2023-2028
      • Exhibit 99: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.10 India - Market size and forecast 2023-2028
      • Exhibit 103: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.11 Germany - Market size and forecast 2023-2028
      • Exhibit 107: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.12 UK - Market size and forecast 2023-2028
      • Exhibit 111: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 115: Market opportunity by geography ($ billion)
      • Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 117: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 119: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 120: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 121: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 122: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 123: ABB Ltd. - Overview
              • Exhibit 124: ABB Ltd. - Business segments
              • Exhibit 125: ABB Ltd. - Key news
              • Exhibit 126: ABB Ltd. - Key offerings
              • Exhibit 127: ABB Ltd. - Segment focus
            • 12.4 ALSTOM SA
              • Exhibit 128: ALSTOM SA - Overview
              • Exhibit 129: ALSTOM SA - Business segments
              • Exhibit 130: ALSTOM SA - Key offerings
              • Exhibit 131: ALSTOM SA - Segment focus
            • 12.5 Bharat Heavy Electricals Ltd.
              • Exhibit 132: Bharat Heavy Electricals Ltd. - Overview
              • Exhibit 133: Bharat Heavy Electricals Ltd. - Business segments
              • Exhibit 134: Bharat Heavy Electricals Ltd. - Key news
              • Exhibit 135: Bharat Heavy Electricals Ltd. - Key offerings
              • Exhibit 136: Bharat Heavy Electricals Ltd. - Segment focus
            • 12.6 CG Power and Industrial Solutions Ltd.
              • Exhibit 137: CG Power and Industrial Solutions Ltd. - Overview
              • Exhibit 138: CG Power and Industrial Solutions Ltd. - Business segments
              • Exhibit 139: CG Power and Industrial Solutions Ltd. - Key offerings
              • Exhibit 140: CG Power and Industrial Solutions Ltd. - Segment focus
            • 12.7 Eaton Corp. Plc
              • Exhibit 141: Eaton Corp. Plc - Overview
              • Exhibit 142: Eaton Corp. Plc - Business segments
              • Exhibit 143: Eaton Corp. Plc - Key offerings
              • Exhibit 144: Eaton Corp. Plc - Segment focus
            • 12.8 Emerson Electric Co.
              • Exhibit 145: Emerson Electric Co. - Overview
              • Exhibit 146: Emerson Electric Co. - Business segments
              • Exhibit 147: Emerson Electric Co. - Key news
              • Exhibit 148: Emerson Electric Co. - Key offerings
              • Exhibit 149: Emerson Electric Co. - Segment focus
            • 12.9 Fuji Electric Co. Ltd.
              • Exhibit 150: Fuji Electric Co. Ltd. - Overview
              • Exhibit 151: Fuji Electric Co. Ltd. - Business segments
              • Exhibit 152: Fuji Electric Co. Ltd. - Key offerings
              • Exhibit 153: Fuji Electric Co. Ltd. - Segment focus
            • 12.10 General Electric Co.
              • Exhibit 154: General Electric Co. - Overview
              • Exhibit 155: General Electric Co. - Business segments
              • Exhibit 156: General Electric Co. - Key news
              • Exhibit 157: General Electric Co. - Key offerings
              • Exhibit 158: General Electric Co. - Segment focus
            • 12.11 Hitachi Ltd.
              • Exhibit 159: Hitachi Ltd. - Overview
              • Exhibit 160: Hitachi Ltd. - Business segments
              • Exhibit 161: Hitachi Ltd. - Key news
              • Exhibit 162: Hitachi Ltd. - Key offerings
              • Exhibit 163: Hitachi Ltd. - Segment focus
            • 12.12 Honeywell International Inc.
              • Exhibit 164: Honeywell International Inc. - Overview
              • Exhibit 165: Honeywell International Inc. - Business segments
              • Exhibit 166: Honeywell International Inc. - Key news
              • Exhibit 167: Honeywell International Inc. - Key offerings
              • Exhibit 168: Honeywell International Inc. - Segment focus
            • 12.13 Mitsubishi Electric Corp.
              • Exhibit 169: Mitsubishi Electric Corp. - Overview
              • Exhibit 170: Mitsubishi Electric Corp. - Business segments
              • Exhibit 171: Mitsubishi Electric Corp. - Key news
              • Exhibit 172: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 173: Mitsubishi Electric Corp. - Segment focus
            • 12.14 Schneider Electric SE
              • Exhibit 174: Schneider Electric SE - Overview
              • Exhibit 175: Schneider Electric SE - Business segments
              • Exhibit 176: Schneider Electric SE - Key offerings
              • Exhibit 177: Schneider Electric SE - Segment focus
            • 12.15 Siemens AG
              • Exhibit 178: Siemens AG - Overview
              • Exhibit 179: Siemens AG - Business segments
              • Exhibit 180: Siemens AG - Key news
              • Exhibit 181: Siemens AG - Key offerings
              • Exhibit 182: Siemens AG - Segment focus
            • 12.16 Sumitomo Electric Industries Ltd.
              • Exhibit 183: Sumitomo Electric Industries Ltd. - Overview
              • Exhibit 184: Sumitomo Electric Industries Ltd. - Business segments
              • Exhibit 185: Sumitomo Electric Industries Ltd. - Key news
              • Exhibit 186: Sumitomo Electric Industries Ltd. - Key offerings
              • Exhibit 187: Sumitomo Electric Industries Ltd. - Segment focus
            • 12.17 Toshiba Corp.
              • Exhibit 188: Toshiba Corp. - Overview
              • Exhibit 189: Toshiba Corp. - Business segments
              • Exhibit 190: Toshiba Corp. - Key news
              • Exhibit 191: Toshiba Corp. - Key offerings
              • Exhibit 192: Toshiba Corp. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 193: Inclusions checklist
                • Exhibit 194: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 195: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 196: Research methodology
                • Exhibit 197: Validation techniques employed for market sizing
                • Exhibit 198: Information sources
              • 13.5 List of abbreviations
                • Exhibit 199: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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