MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.
Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.
Power Equipment Report Probes the 86990 million Size, Share, Growth Report and Future Analysis by 2033
Power Equipment by Type (Transformers, HVDC Devices, Gas Insulated Switchgear), by Application (High Voltage Application, Medium Voltage Application, Low Voltage Application), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2026-2034
Base Year: 2025
146 Pages
Power Equipment Report Probes the 86990 million Size, Share, Growth Report and Future Analysis by 2033
Power Equipment Report Probes the 86990 million Size, Share, Growth Report and Future Analysis by 2033
The global power equipment market was valued at USD 86,990 million in 2022 and is expected to reach USD 166,339.5 million by 2030, registering a CAGR of 8.10% over the forecast period, according to a new report by Grand View Research. The growing demand for electricity, coupled with increasing urbanization and industrialization, is expected to drive the market growth. Moreover, the rising adoption of renewable energy sources and the need for efficient grid infrastructure are further contributing to the market expansion.
Power Equipment Market Size (In Million)
150.0M
100.0M
50.0M
0
123.4 M
2020
145.6 M
2021
North America is anticipated to dominate the global power equipment market in terms of revenue share over the forecast period. The region is home to several major power equipment manufacturers, such as Eaton, General Electric, and Siemens. High levels of industrialization and urbanization are likely to propel the demand for power equipment in the region. Additionally, the growing adoption of renewable energy sources, such as wind and solar power, is expected to drive the market growth in the region.
Power Equipment Company Market Share
Loading chart...
Power Equipment Trends
The global power equipment market is anticipated to traverse a progressive trajectory, reaching a valuation of USD XXX million by 2028, expanding at a CAGR of XX%, fueled by the burgeoning demand for reliable and efficient power transmission and distribution systems. The burgeoning population growth, urbanization, and industrialization are key drivers propelling the market's expansion. Additionally, the increasing adoption of renewable energy sources, such as solar and wind power, is further fueling the demand for power equipment due to the need for efficient grid integration.
Driving Forces: What's Propelling the Power Equipment
The power equipment industry is primarily driven by the increasing demand for electricity worldwide. As populations continue to grow and economies expand, the demand for electricity is escalating, necessitating the expansion and upgrading of power transmission and distribution networks. Moreover, the growing shift towards renewable energy sources, such as solar and wind, is further stimulating the demand for power equipment, as these renewable sources require specialized equipment for efficient grid integration.
Challenges and Restraints in Power Equipment
Despite the promising market prospects, the power equipment industry is not without its challenges. One of the key challenges facing the industry is the high cost associated with the development, manufacturing, and installation of power equipment. Additionally, the industry is heavily regulated, with stringent environmental and safety standards that can increase operational costs and slow down the pace of innovation.
Key Region or Country & Segment to Dominate the Market
Dominant Regions:
Asia-Pacific is anticipated to dominate the global power equipment market, driven by the region's rapidly growing economies and increasing urbanization. Countries such as China, India, and Japan are major contributors to the region's market dominance.
North America and Europe are other prominent regional markets, with a high demand for power equipment due to their aging infrastructure and focus on energy efficiency.
Dominant Segment:
High Voltage Application is expected to dominate the power equipment market, driven by the rising demand for efficient and reliable power transmission over long distances.
Growth Catalysts in Power Equipment Industry
Increasing investments in smart grid technologies
Growing adoption of electric vehicles
Government initiatives and incentives for renewable energy integration
Technological advancements in power electronics and automation
Leading Players in the Power Equipment
Hitachi Energy
Siemens
GE Vernova
Mitsubishi Electric
TBEA
XD Group
Schneider Electric
Eaton
Toshiba
Fuji Electric
CHINT Group
Hyundai Electric
SGB-SMIT
Shandong Taikai
XJ Electric
Baoding Tianwei Baobian Electric
Significant Developments in Power Equipment Sector
Innovations in high-voltage direct current (HVDC) transmission technology
Development of advanced metering infrastructure (AMI) for smart grids
Integration of artificial intelligence (AI) and the Internet of Things (IoT) for remote monitoring and control
Focus on sustainable and environmentally friendly power equipment designs
Power Equipment Segmentation
1. Type
1.1. Transformers
1.2. HVDC Devices
1.3. Gas Insulated Switchgear
2. Application
2.1. High Voltage Application
2.2. Medium Voltage Application
2.3. Low Voltage Application
Power Equipment Segmentation By Geography
1. North America
1.1. United States
1.2. Canada
1.3. Mexico
2. South America
2.1. Brazil
2.2. Argentina
2.3. Rest of South America
3. Europe
3.1. United Kingdom
3.2. Germany
3.3. France
3.4. Italy
3.5. Spain
3.6. Russia
3.7. Benelux
3.8. Nordics
3.9. Rest of Europe
4. Middle East & Africa
4.1. Turkey
4.2. Israel
4.3. GCC
4.4. North Africa
4.5. South Africa
4.6. Rest of Middle East & Africa
5. Asia Pacific
5.1. China
5.2. India
5.3. Japan
5.4. South Korea
5.5. ASEAN
5.6. Oceania
5.7. Rest of Asia Pacific
Power Equipment Regional Market Share
Loading chart...
Geographic Coverage of Power Equipment
Higher Coverage
Lower Coverage
No Coverage
Power Equipment REPORT HIGHLIGHTS
Aspects
Details
Study Period
2020-2034
Base Year
2025
Estimated Year
2026
Forecast Period
2026-2034
Historical Period
2020-2025
Growth Rate
CAGR of XX% from 2020-2034
Segmentation
By Type
Transformers
HVDC Devices
Gas Insulated Switchgear
By Application
High Voltage Application
Medium Voltage Application
Low Voltage Application
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Russia
Benelux
Nordics
Rest of Europe
Middle East & Africa
Turkey
Israel
GCC
North Africa
South Africa
Rest of Middle East & Africa
Asia Pacific
China
India
Japan
South Korea
ASEAN
Oceania
Rest of Asia Pacific
Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
2.1. Introduction
3. Market Dynamics
3.1. Introduction
3.2. Market Drivers
3.3. Market Restrains
3.4. Market Trends
4. Market Factor Analysis
4.1. Porters Five Forces
4.2. Supply/Value Chain
4.3. PESTEL analysis
4.4. Market Entropy
4.5. Patent/Trademark Analysis
5. Global Power Equipment Analysis, Insights and Forecast, 2020-2032
5.1. Market Analysis, Insights and Forecast - by Type
5.1.1. Transformers
5.1.2. HVDC Devices
5.1.3. Gas Insulated Switchgear
5.2. Market Analysis, Insights and Forecast - by Application
5.2.1. High Voltage Application
5.2.2. Medium Voltage Application
5.2.3. Low Voltage Application
5.3. Market Analysis, Insights and Forecast - by Region
5.3.1. North America
5.3.2. South America
5.3.3. Europe
5.3.4. Middle East & Africa
5.3.5. Asia Pacific
6. North America Power Equipment Analysis, Insights and Forecast, 2020-2032
6.1. Market Analysis, Insights and Forecast - by Type
6.1.1. Transformers
6.1.2. HVDC Devices
6.1.3. Gas Insulated Switchgear
6.2. Market Analysis, Insights and Forecast - by Application
6.2.1. High Voltage Application
6.2.2. Medium Voltage Application
6.2.3. Low Voltage Application
7. South America Power Equipment Analysis, Insights and Forecast, 2020-2032
7.1. Market Analysis, Insights and Forecast - by Type
7.1.1. Transformers
7.1.2. HVDC Devices
7.1.3. Gas Insulated Switchgear
7.2. Market Analysis, Insights and Forecast - by Application
7.2.1. High Voltage Application
7.2.2. Medium Voltage Application
7.2.3. Low Voltage Application
8. Europe Power Equipment Analysis, Insights and Forecast, 2020-2032
8.1. Market Analysis, Insights and Forecast - by Type
8.1.1. Transformers
8.1.2. HVDC Devices
8.1.3. Gas Insulated Switchgear
8.2. Market Analysis, Insights and Forecast - by Application
8.2.1. High Voltage Application
8.2.2. Medium Voltage Application
8.2.3. Low Voltage Application
9. Middle East & Africa Power Equipment Analysis, Insights and Forecast, 2020-2032
9.1. Market Analysis, Insights and Forecast - by Type
9.1.1. Transformers
9.1.2. HVDC Devices
9.1.3. Gas Insulated Switchgear
9.2. Market Analysis, Insights and Forecast - by Application
9.2.1. High Voltage Application
9.2.2. Medium Voltage Application
9.2.3. Low Voltage Application
10. Asia Pacific Power Equipment Analysis, Insights and Forecast, 2020-2032
10.1. Market Analysis, Insights and Forecast - by Type
10.1.1. Transformers
10.1.2. HVDC Devices
10.1.3. Gas Insulated Switchgear
10.2. Market Analysis, Insights and Forecast - by Application
10.2.1. High Voltage Application
10.2.2. Medium Voltage Application
10.2.3. Low Voltage Application
11. Competitive Analysis
11.1. Global Market Share Analysis 2025
11.2. Company Profiles
11.2.1 Hitachi Energy
11.2.1.1. Overview
11.2.1.2. Products
11.2.1.3. SWOT Analysis
11.2.1.4. Recent Developments
11.2.1.5. Financials (Based on Availability)
11.2.2 Siemens
11.2.2.1. Overview
11.2.2.2. Products
11.2.2.3. SWOT Analysis
11.2.2.4. Recent Developments
11.2.2.5. Financials (Based on Availability)
11.2.3 GE Vernova
11.2.3.1. Overview
11.2.3.2. Products
11.2.3.3. SWOT Analysis
11.2.3.4. Recent Developments
11.2.3.5. Financials (Based on Availability)
11.2.4 Mitsubishi Electric
11.2.4.1. Overview
11.2.4.2. Products
11.2.4.3. SWOT Analysis
11.2.4.4. Recent Developments
11.2.4.5. Financials (Based on Availability)
11.2.5 TBEA
11.2.5.1. Overview
11.2.5.2. Products
11.2.5.3. SWOT Analysis
11.2.5.4. Recent Developments
11.2.5.5. Financials (Based on Availability)
11.2.6 XD Group
11.2.6.1. Overview
11.2.6.2. Products
11.2.6.3. SWOT Analysis
11.2.6.4. Recent Developments
11.2.6.5. Financials (Based on Availability)
11.2.7 Schneider Electric
11.2.7.1. Overview
11.2.7.2. Products
11.2.7.3. SWOT Analysis
11.2.7.4. Recent Developments
11.2.7.5. Financials (Based on Availability)
11.2.8 Eaton
11.2.8.1. Overview
11.2.8.2. Products
11.2.8.3. SWOT Analysis
11.2.8.4. Recent Developments
11.2.8.5. Financials (Based on Availability)
11.2.9 Toshiba
11.2.9.1. Overview
11.2.9.2. Products
11.2.9.3. SWOT Analysis
11.2.9.4. Recent Developments
11.2.9.5. Financials (Based on Availability)
11.2.10 Fuji Electric
11.2.10.1. Overview
11.2.10.2. Products
11.2.10.3. SWOT Analysis
11.2.10.4. Recent Developments
11.2.10.5. Financials (Based on Availability)
11.2.11 CHINT Group
11.2.11.1. Overview
11.2.11.2. Products
11.2.11.3. SWOT Analysis
11.2.11.4. Recent Developments
11.2.11.5. Financials (Based on Availability)
11.2.12 Hyundai Electric
11.2.12.1. Overview
11.2.12.2. Products
11.2.12.3. SWOT Analysis
11.2.12.4. Recent Developments
11.2.12.5. Financials (Based on Availability)
11.2.13 SGB-SMIT
11.2.13.1. Overview
11.2.13.2. Products
11.2.13.3. SWOT Analysis
11.2.13.4. Recent Developments
11.2.13.5. Financials (Based on Availability)
11.2.14 Shandong Taikai
11.2.14.1. Overview
11.2.14.2. Products
11.2.14.3. SWOT Analysis
11.2.14.4. Recent Developments
11.2.14.5. Financials (Based on Availability)
11.2.15 XJ Electric
11.2.15.1. Overview
11.2.15.2. Products
11.2.15.3. SWOT Analysis
11.2.15.4. Recent Developments
11.2.15.5. Financials (Based on Availability)
11.2.16 Baoding Tianwei Baobian Electric
11.2.16.1. Overview
11.2.16.2. Products
11.2.16.3. SWOT Analysis
11.2.16.4. Recent Developments
11.2.16.5. Financials (Based on Availability)
List of Figures
Figure 1: Global Power Equipment Revenue Breakdown (million, %) by Region 2025 & 2033
Figure 2: North America Power Equipment Revenue (million), by Type 2025 & 2033
Figure 3: North America Power Equipment Revenue Share (%), by Type 2025 & 2033
Figure 4: North America Power Equipment Revenue (million), by Application 2025 & 2033
Figure 5: North America Power Equipment Revenue Share (%), by Application 2025 & 2033
Figure 6: North America Power Equipment Revenue (million), by Country 2025 & 2033
Figure 7: North America Power Equipment Revenue Share (%), by Country 2025 & 2033
Figure 8: South America Power Equipment Revenue (million), by Type 2025 & 2033
Figure 9: South America Power Equipment Revenue Share (%), by Type 2025 & 2033
Figure 10: South America Power Equipment Revenue (million), by Application 2025 & 2033
Figure 11: South America Power Equipment Revenue Share (%), by Application 2025 & 2033
Figure 12: South America Power Equipment Revenue (million), by Country 2025 & 2033
Figure 13: South America Power Equipment Revenue Share (%), by Country 2025 & 2033
Figure 14: Europe Power Equipment Revenue (million), by Type 2025 & 2033
Figure 15: Europe Power Equipment Revenue Share (%), by Type 2025 & 2033
Figure 16: Europe Power Equipment Revenue (million), by Application 2025 & 2033
Figure 17: Europe Power Equipment Revenue Share (%), by Application 2025 & 2033
Figure 18: Europe Power Equipment Revenue (million), by Country 2025 & 2033
Figure 19: Europe Power Equipment Revenue Share (%), by Country 2025 & 2033
Figure 20: Middle East & Africa Power Equipment Revenue (million), by Type 2025 & 2033
Figure 21: Middle East & Africa Power Equipment Revenue Share (%), by Type 2025 & 2033
Figure 22: Middle East & Africa Power Equipment Revenue (million), by Application 2025 & 2033
Figure 23: Middle East & Africa Power Equipment Revenue Share (%), by Application 2025 & 2033
Figure 24: Middle East & Africa Power Equipment Revenue (million), by Country 2025 & 2033
Figure 25: Middle East & Africa Power Equipment Revenue Share (%), by Country 2025 & 2033
Figure 26: Asia Pacific Power Equipment Revenue (million), by Type 2025 & 2033
Figure 27: Asia Pacific Power Equipment Revenue Share (%), by Type 2025 & 2033
Figure 28: Asia Pacific Power Equipment Revenue (million), by Application 2025 & 2033
Figure 29: Asia Pacific Power Equipment Revenue Share (%), by Application 2025 & 2033
Figure 30: Asia Pacific Power Equipment Revenue (million), by Country 2025 & 2033
Figure 31: Asia Pacific Power Equipment Revenue Share (%), by Country 2025 & 2033
List of Tables
Table 1: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 2: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 3: Global Power Equipment Revenue million Forecast, by Region 2020 & 2033
Table 4: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 5: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 6: Global Power Equipment Revenue million Forecast, by Country 2020 & 2033
Table 7: United States Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 8: Canada Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 9: Mexico Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 10: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 11: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 12: Global Power Equipment Revenue million Forecast, by Country 2020 & 2033
Table 13: Brazil Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 14: Argentina Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 15: Rest of South America Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 16: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 17: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 18: Global Power Equipment Revenue million Forecast, by Country 2020 & 2033
Table 19: United Kingdom Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 20: Germany Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 21: France Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 22: Italy Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 23: Spain Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 24: Russia Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 25: Benelux Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 26: Nordics Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 27: Rest of Europe Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 28: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 29: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 30: Global Power Equipment Revenue million Forecast, by Country 2020 & 2033
Table 31: Turkey Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 32: Israel Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 33: GCC Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 34: North Africa Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 35: South Africa Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 36: Rest of Middle East & Africa Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 37: Global Power Equipment Revenue million Forecast, by Type 2020 & 2033
Table 38: Global Power Equipment Revenue million Forecast, by Application 2020 & 2033
Table 39: Global Power Equipment Revenue million Forecast, by Country 2020 & 2033
Table 40: China Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 41: India Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 42: Japan Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 43: South Korea Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 44: ASEAN Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 45: Oceania Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Table 46: Rest of Asia Pacific Power Equipment Revenue (million) Forecast, by Application 2020 & 2033
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders
Secondary Research
Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Power Equipment?
The projected CAGR is approximately XX%.
2. Which companies are prominent players in the Power Equipment?
Key companies in the market include Hitachi Energy, Siemens, GE Vernova, Mitsubishi Electric, TBEA, XD Group, Schneider Electric, Eaton, Toshiba, Fuji Electric, CHINT Group, Hyundai Electric, SGB-SMIT, Shandong Taikai, XJ Electric, Baoding Tianwei Baobian Electric.
3. What are the main segments of the Power Equipment?
The market segments include Type, Application.
4. Can you provide details about the market size?
The market size is estimated to be USD 86990 million as of 2022.
5. What are some drivers contributing to market growth?
N/A
6. What are the notable trends driving market growth?
N/A
7. Are there any restraints impacting market growth?
N/A
8. Can you provide examples of recent developments in the market?
N/A
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4480.00, USD 6720.00, and USD 8960.00 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Power Equipment," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Power Equipment report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Power Equipment?
To stay informed about further developments, trends, and reports in the Power Equipment, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Power Equipment