High voltage measuring equipment worth $39 B
The “High Voltage Measuring Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for high voltage measuring equipment estimated at $3.9 B in the year 2020, is projected to reach a revised size of $6.1 B by 2027, growing at a CAGR of 6.7 % over the period 2020-2027.
Capacitive voltage transformer, one of the segments analysed in the report, is projected to record 7 % CAGR and reach $4.1 B by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Potential Transformer segment is readjusted to a revised 6 % CAGR for the next 7-year period.
The high voltage measuring equipment market in the USA is estimated at $1.1 B in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $1.3 B by the year 2027 trailing a CAGR of 10.2 % over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6 % and 6 % respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3 % CAGR.
Key market players are: ABB Ltd., Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., Crompton, Greaves Ltd., GE Grid Solutions, etc.
Source: PR Newswire