New York, May 26, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Top 10 High & Medium Voltage Products: By High Voltage Products, By Medium Voltage products, And Region – Global Analysis of Market Size, Share & Trends for 2019–2020 And Forecasts to 2031” – https://www.reportlinker.com/p06458709/?utm_source=GNW
PRODUCT OVERVIEW
Power transformers, switchgears, high voltage cable & accessories, and gas insulated switchgears are among the high voltage items. Disconnect switches, ring main units, surge protection device, voltage regulator, and medium voltage cable & accessories are among the medium voltage items. The fabrication of equipment such as distribution transformer, switchgears, and cables, among other things, is the starting point for the top 10 high voltage & medium voltage products market. The final stage addresses end-use sectors such as transmission and distribution utilities, industrial and process industries, or commercial and residential infrastructures, among others.
MARKET HIGHLIGHTS
Global Top 10 High & Medium Voltage Products market is expected to project a notable CAGR of 8.3% in 2031.
Global Top 10 High & Medium Voltage Products to surpass USD 523 billion by 2031 from USD 236.5 billion in 2021 at a CAGR of 8.3% in the coming years, i.e., 2021-31. Factors such as upgrading of existing power networks, heavy demand in renewable-energy, adoption of smart grids technology, and the rise of offshore wind farms are pushing the market worldwide.
GLOBAL TOP 10 HIGH & MEDIUM VOLTAGE PRODUCTS: SEGMENTS
Medium voltage cables and accessories segment to grow with the highest CAGR during 2021-31
In terms of market size by kind medium voltage products are segmented into Disconnect switches, ring main units, surge protection device, voltage regulator, and medium voltage cable & accessories. The market for medium voltage cables & accessories was the largest. Government initiatives as well as policies to widen or upgrade the T and D system, particularly in emerging economies, as well as the increasing use of renewable energy sources such as wind & solar energy for energy production, are positively influencing the medium voltage cable and accessory market growth.
Switchgear segment to grow with the highest CAGR during 2021-31
In terms of market size by type of high voltage products are segmented into Power transformers, switchgears, high voltage cable & accessories, and gas insulated switchgears. Among these the switchgear market was the largest. Factors such as power plant modification and refurbishment, continuous building and economic development initiatives (industrial and commercial) around the world, combined with rising population, would need expansion in the switchgear industry.
MARKET DYNAMICS
Drivers
Increasing demand of distribution infrastructure
The demand for the top 10 high voltage and medium voltage products can be directly linked to the expansion of producing, transmission, and distribution infrastructure. Growth in renewable energy generation and the upgrading of ageing power infrastructure are also driving demand for these products. On the other hand, market growth prospects include the deployment of smart grid technologies and the expansion of offshore wind farms.
Restraint
Fluctuating raw material
However, market growth may be limited by reasons like fluctuating raw material costs & increased competition from the unorganized sector.
GLOBAL TOP 10 HIGH & MEDIUM VOLTAGE PRODUCTS:
Key Players
• Crompton Greaves Limited,
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• Eaton Corporation Plc.,
• General Cable Corporation,
• General Electric,
• Hitachi Limited,
• Hyundai Heavy Industries Co., Ltd.,
• Nexans S.A.,
• Nkt Cables,
• Prysmian S.P.A,
• Schneider Electric,
• Toshiba Corporation
• Other Prominent Players
GLOBAL TOP 10 HIGH & MEDIUM VOLTAGE PRODUCTS: REGIONS
Global Top 10 High & Medium Voltage Products market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. For the majority of high & medium voltage products, Asia-Pacific is the main market. Increased grid investment, especially in developing economies, that focus on rural electricity production, transmission as well as distribution network expansion, large-scale industrialization, and growing urban populations, among other factors, can be attributed to the market growth of the top 10 high voltage & medium voltage products in the Asia-Pacific region. Market growth is further aided by factors such as smart grid adoption and substation automation initiatives.
GLOBAL TOP 10 HIGH & MEDIUM VOLTAGE PRODUCTS REPORT ALSO CONTAINS ANALYSIS ON:
Top 10 High & Medium Voltage Products Segments:
• By High voltage products
o High Voltage Cables and Accessories
o Switchgear
o Power Transformer
o Gas Insulated Switchgear
• By Medium Voltage products
o Ring Main Unit
o Disconnect Switch
o Surge Protection Devices
o Voltage Regulator
o Medium Voltage Cables and Accessories
• Top 10 High & Medium Voltage Products Dynamics
• Top 10 High & Medium Voltage Products Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.
Read the full report: https://www.reportlinker.com/p06458709/?utm_source=GNW
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