Global Power Equipment Industry

Global Power Equipment Industry Research & Trends Analysis Report

Global Power Equipment Industry

Global Power Equipment Industry Research & Trends Analysis Report


The Power Equipment Market report highlights technological advancements, investment opportunities, and regulatory frameworks shaping the industry landscape through 2030.

Exclusive deal : 20% Instant discount on Direct purchases! Don't wait—claim your discount today!

According to the Market IntelliX Study, the global market for Power Equipment should grow from US$ 71980 million in 2025 to US$ 90570 million by 2031, with a CAGR of 4.3% for the period of 2025 -2031.
The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, user-friendly interfaces, value-added benefits, and service portfolios. During the forecast period, it expect this competition to intensify with an increase in product extensions.
Technological innovations have an important role in driving the growth of the market. To sustain in the competitive market, vendors should develop new ideas and technologies and stay up-to-date with the advanced technologies.
The Power Equipment market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission.
Aging power infrastructure in developed countries and the need for reliable and efficient electricity supply are leading to grid modernization projects. These projects often involve the replacement or upgrade of transformers. In developing countries, electrification projects to expand access to electricity in rural and underserved areas are driving the demand for transformers, particularly distribution transformers.
As the share of renewable energy in the power mix grows, there is an increased need for advanced and reliable switchgear solutions to manage the complexities of renewable energy integration into the grid.
Rapid urbanization and industrial growth in emerging economies are increasing the demand for electricity, which in turn drives the need for efficient power distribution systems, including transformers.

The report mainly study the three segments including HVDC devices, transformers, and gas-insulated switchgear (GIS)
HVDC (High Voltage Direct Current) systems are used to transmit electricity over long distances with minimal losses. Unlike AC (Alternating Current) systems, HVDC systems use direct current, which is more efficient for long-distance transmission and undersea cables.
Transformers are devices that change the voltage levels of electricity in power systems. They are essential for transmitting electricity efficiently over long distances and distributing it to homes and businesses.
Gas-Insulated Switchgear is a type of compact, metal-enclosed switchgear that uses sulfur hexafluoride (SF₆) gas to insulate and protect electrical equipment. GIS is used in high-voltage substations and electrical grids where space is limited or where environmental conditions require enhanced protection.

The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, user-friendly interfaces, value-added benefits, and service portfolios. During the forecast period, it expect this competition to intensify with an increase in product extensions.
Technological innovations have an important role in driving the growth of the market. To sustain in the competitive market, vendors should develop new ideas and technologies and stay up-to-date with the advanced technologies.
The Power Equipment market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission.
Aging power infrastructure in developed countries and the need for reliable and efficient electricity supply are leading to grid modernization projects. These projects often involve the replacement or upgrade of transformers. In developing countries, electrification projects to expand access to electricity in rural and underserved areas are driving the demand for transformers, particularly distribution transformers.
As the share of renewable energy in the power mix grows, there is an increased need for advanced and reliable switchgear solutions to manage the complexities of renewable energy integration into the grid.
Rapid urbanization and industrial growth in emerging economies are increasing the demand for electricity, which in turn drives the need for efficient power distribution systems, including transformers.

Key Insights & Strategic Takeaways Driving Market Outlook

(1) Global Power Equipment market size (sales volume & revenue), history data from 2020 - 2025, and forecast data from {2025 to 2031.

(2) Global Power Equipment market competitive situation, sales, revenue, price, and market share, from 2020 to 2025.

(3) China Power Equipment market competitive situation, sales, revenue, price, and market share, from 2020 to 2025.

(4) Global Power Equipment segment by region (or country), key regions cover the United States, Europe, China, Japan, South Korea, Southeast Asia, India, etc.

(5) Global Power Equipment segment by type and by application, and regional segment by type and by application.

(6) Major global production regions of Power Equipment , capacity, production, and trends.

(7) Power Equipment industry supply chain, upstream, midstream, and downstream analysis.






In-Depth Assessment of Market Segmentation by Geographic Region
➤ North America (United States, Canada, and Mexico)
➤ Europe (UK, Germany, France, Russia, and Italy)
➤ Asia-Pacific (China, Korea, Japan, India, and Southeast Asia)
➤ South America (Brazil, Colombia, Argentina, etc.)
➤ The Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, and South Africa)

Segmentation by Product Type: Analytical Breakdown and Market Relevance
This section presents a comprehensive analysis of the market based on product type, highlighting segment-wise performance indicators, emerging trends, and their strategic implications within the overall industry landscape.
  • Transformers
  • HVDC Devices
  • Gas Insulated Switchgear

Market Segmentation by Application
Markets are categorized based on specific application areas, offering insight into usage trends and consumer preferences. This segmentation helps businesses tailor products, services, and strategies to align with diverse industry needs and customer demands.
  • High Voltage Application
  • Medium Voltage Application
  • Low Voltage Application

Market Segmentation by Key Players
This report examines the competitive landscape by categorizing market participants based on their roles, influence, and strategic positioning. Understanding player segmentation helps identify industry leaders, emerging competitors, and collaboration opportunities within the market.
  • 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

1 Market Overview

1.1 Product Overview and Scope of Power Equipment

1.2 Global Power Equipment Market Size and Forecast

1.3 China Power Equipment Market Size and Forecast

1.4 China Percentage in Global Market

1.4.1 By Revenue, China Power Equipment Share in Global Market, 2020-2031

1.4.2 Power Equipment Market Size: China VS Global, 2020-2031

1.5 Power Equipment Market Dynamics

1.5.1 Power Equipment Market Drivers

1.5.2 Power Equipment Market Restraints

1.5.3 Power Equipment Industry Trends

1.5.4 Power Equipment Industry Policy

2 Competitive Landscape by Company

2.1 Global Power Equipment Revenue by Company, 2020-2025

2.2 Global Power Equipment Participants, Market Position (Tier 1, Tier 2, and Tier 3)

2.3 Global Power Equipment Concentration Ratio

2.4 Global Power Equipment Mergers & Acquisitions, Expansion Plans

2.5 Global Power Equipment Manufacturers Product Type

2.6 Global Geographic Distribution of Power Equipment Companies

3 China Competitive Situation by Company

3.1 China Power Equipment Revenue by Company, 2020-2025

3.2 China Power Equipment Power Equipment Participants, Market Position (Tier 1, Tier 2, and Tier 3)

3.3 China Power Equipment Market, Revenue Percentage of Local Players VS Foreign Players (2020-2031)

4 Industry Chain Analysis

4.1 Power Equipment Industry Chain

4.2 Power Equipment Upstream Analysis

4.3 Power Equipment Midstream Analysis

4.4 Power Equipment Downstream Analysis

5 Sights by Type

5.1 Power Equipment Classification

5.1.1 Transformers

5.1.2 HVDC Devices

5.1.3 Gas Insulated Switchgear

5.2 by Type, Global Power Equipment Market Size & CAGR, 2020 VS 2024 VS 2031

5.3 by Type, Global Power Equipment Market Size, 2020-2031

6 Sights by Application

6.1 Power Equipment Segment by Application

6.1.1 High Voltage Application

6.1.2 Medium Voltage Application

6.1.3 Low Voltage Application

6.2 by Application, Global Power Equipment Market Size & CAGR, 2020 VS 2024 VS 2031

6.3 by Application, Global Power Equipment Market Size, 2020-2031

7 Sights by Region

7.1 By Region, Global Power Equipment Market Size, 2020 VS 2024 VS 2031

7.2 By Region, Global Power Equipment Market Size, 2020-2031

7.3 North America

7.3.1 North America Power Equipment Market Size & Forecasts, 2020-2031

7.3.2 By Country, North America Power Equipment Market Size Market Share

7.4 Europe

7.4.1 Europe Power Equipment Market Size & Forecasts, 2020-2031

7.4.2 By Country, Europe Power Equipment Market Size Market Share

7.5 Asia Pacific

7.5.1 Asia Pacific Power Equipment Market Size & Forecasts, 2020-2031

7.5.2 By Country/Region, Asia Pacific Power Equipment Market Size Market Share

7.6 South America

7.6.1 South America Power Equipment Market Size & Forecasts, 2020-2031

7.6.2 By Country, South America Power Equipment Market Size Market Share

7.7 Middle East & Africa

8 Sights by Country Level

8.1 By Country, Global Power Equipment Market Size & CAGR，2020 VS 2024 VS 2031

8.2 By Country, Global Power Equipment Market Size, 2020-2031

8.3 United States

8.3.1 United States Power Equipment Market Size, 2020-2031

8.3.2 By Company, United States Power Equipment Revenue Market Share, 2024

8.3.3 by Type, United States Power Equipment Revenue Market Share, 2024 VS 2031

8.3.4 by Application, United States Power Equipment Revenue Market Share, 2024 VS 2031

8.4 Europe

8.4.1 Europe Power Equipment Market Size, 2020-2031

8.4.2 By Company, Europe Power Equipment Revenue Market Share, 2024

8.4.3 by Type, Europe Power Equipment Revenue Market Share, 2024 VS 2031

8.4.4 by Application, Europe Power Equipment Revenue Market Share, 2024 VS 2031

8.5 China

8.5.1 China Power Equipment Market Size, 2020-2031

8.5.2 By Company, China Power Equipment Revenue Market Share, 2024

8.5.3 by Type, China Power Equipment Revenue Market Share, 2024 VS 2031

8.5.4 by Application, China Power Equipment Revenue Market Share, 2024 VS 2031

8.6 Japan

8.6.1 Japan Power Equipment Market Size, 2020-2031

8.6.2 By Company, Japan Power Equipment Revenue Market Share, 2024

8.6.3 by Type, Japan Power Equipment Revenue Market Share, 2024 VS 2031

8.6.4 by Application, Japan Power Equipment Revenue Market Share, 2024 VS 2031

8.7 South Korea

8.7.1 South Korea Power Equipment Market Size, 2020-2031

8.7.2 By Company, South Korea Power Equipment Revenue Market Share, 2024

8.7.3 by Type, South Korea Power Equipment Revenue Market Share, 2024 VS 2031

8.7.4 by Application, South Korea Power Equipment Revenue Market Share, 2024 VS 2031

8.8 Southeast Asia

8.8.1 Southeast Asia Power Equipment Market Size, 2020-2031

8.8.2 By Company, Southeast Asia Power Equipment Revenue Market Share, 2024

8.8.3 by Type, Southeast Asia Power Equipment Revenue Market Share, 2024 VS 2031

8.8.4 by Application, Southeast Asia Power Equipment Revenue Market Share, 2024 VS 2031

8.9 India

8.9.1 India Power Equipment Market Size, 2020-2031

8.9.2 By Company, India Power Equipment Revenue Market Share, 2024

8.9.3 by Type, India Power Equipment Revenue Market Share, 2024 VS 2031

8.9.4 by Application, India Power Equipment Revenue Market Share, 2024 VS 2031

8.10 Middle East & Africa

8.10.1 Middle East & Africa Power Equipment Market Size, 2020-2031

8.10.2 By Company, Middle East & Africa Power Equipment Revenue Market Share, 2024

8.10.3 by Type, Middle East & Africa Power Equipment Revenue Market Share, 2024 VS 2031

8.10.4 by Application, Middle East & Africa Power Equipment Revenue Market Share, 2024 VS 2031

9 Company Profile

9.1 Hitachi Energy

9.1.1 Hitachi Energy Company Information, Head Office, Market Area, and Industry Position

9.1.2 Hitachi Energy Company Profile and Main Business

9.1.3 Hitachi Energy Power Equipment Models, Specifications, and Application

9.1.4 Hitachi Energy Power Equipment Revenue and Gross Margin, 2020-2025

9.1.5 Hitachi Energy Recent Developments

9.2 Siemens

9.2.1 Siemens Company Information, Head Office, Market Area, and Industry Position

9.2.2 Siemens Company Profile and Main Business

9.2.3 Siemens Power Equipment Models, Specifications, and Application

9.2.4 Siemens Power Equipment Revenue and Gross Margin, 2020-2025

9.2.5 Siemens Recent Developments

9.3 GE Vernova

9.3.1 GE Vernova Company Information, Head Office, Market Area, and Industry Position

9.3.2 GE Vernova Company Profile and Main Business

9.3.3 GE Vernova Power Equipment Models, Specifications, and Application

9.3.4 GE Vernova Power Equipment Revenue and Gross Margin, 2020-2025

9.3.5 GE Vernova Recent Developments

9.4 Mitsubishi Electric

9.4.1 Mitsubishi Electric Company Information, Head Office, Market Area, and Industry Position

9.4.2 Mitsubishi Electric Company Profile and Main Business

9.4.3 Mitsubishi Electric Power Equipment Models, Specifications, and Application

9.4.4 Mitsubishi Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.4.5 Mitsubishi Electric Recent Developments

9.5 TBEA

9.5.1 TBEA Company Information, Head Office, Market Area, and Industry Position

9.5.2 TBEA Company Profile and Main Business

9.5.3 TBEA Power Equipment Models, Specifications, and Application

9.5.4 TBEA Power Equipment Revenue and Gross Margin, 2020-2025

9.5.5 TBEA Recent Developments

9.6 XD Group

9.6.1 XD Group Company Information, Head Office, Market Area, and Industry Position

9.6.2 XD Group Company Profile and Main Business

9.6.3 XD Group Power Equipment Models, Specifications, and Application

9.6.4 XD Group Power Equipment Revenue and Gross Margin, 2020-2025

9.6.5 XD Group Recent Developments

9.7 Schneider Electric

9.7.1 Schneider Electric Company Information, Head Office, Market Area, and Industry Position

9.7.2 Schneider Electric Company Profile and Main Business

9.7.3 Schneider Electric Power Equipment Models, Specifications, and Application

9.7.4 Schneider Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.7.5 Schneider Electric Recent Developments

9.8 Eaton

9.8.1 Eaton Company Information, Head Office, Market Area, and Industry Position

9.8.2 Eaton Company Profile and Main Business

9.8.3 Eaton Power Equipment Models, Specifications, and Application

9.8.4 Eaton Power Equipment Revenue and Gross Margin, 2020-2025

9.8.5 Eaton Recent Developments

9.9 Toshiba

9.9.1 Toshiba Company Information, Head Office, Market Area, and Industry Position

9.9.2 Toshiba Company Profile and Main Business

9.9.3 Toshiba Power Equipment Models, Specifications, and Application

9.9.4 Toshiba Power Equipment Revenue and Gross Margin, 2020-2025

9.9.5 Toshiba Recent Developments

9.10 Fuji Electric

9.10.1 Fuji Electric Company Information, Head Office, Market Area, and Industry Position

9.10.2 Fuji Electric Company Profile and Main Business

9.10.3 Fuji Electric Power Equipment Models, Specifications, and Application

9.10.4 Fuji Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.10.5 Fuji Electric Recent Developments

9.11 CHINT Group

9.11.1 CHINT Group Company Information, Head Office, Market Area, and Industry Position

9.11.2 CHINT Group Company Profile and Main Business

9.11.3 CHINT Group Power Equipment Models, Specifications, and Application

9.11.4 CHINT Group Power Equipment Revenue and Gross Margin, 2020-2025

9.11.5 CHINT Group Recent Developments

9.12 Hyundai Electric

9.12.1 Hyundai Electric Company Information, Head Office, Market Area, and Industry Position

9.12.2 Hyundai Electric Company Profile and Main Business

9.12.3 Hyundai Electric Power Equipment Models, Specifications, and Application

9.12.4 Hyundai Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.12.5 Hyundai Electric Recent Developments

9.13 SGB-SMIT

9.13.1 SGB-SMIT Company Information, Head Office, Market Area, and Industry Position

9.13.2 SGB-SMIT Company Profile and Main Business

9.13.3 SGB-SMIT Power Equipment Models, Specifications, and Application

9.13.4 SGB-SMIT Power Equipment Revenue and Gross Margin, 2020-2025

9.13.5 SGB-SMIT Recent Developments

9.14 Shandong Taikai

9.14.1 Shandong Taikai Company Information, Head Office, Market Area, and Industry Position

9.14.2 Shandong Taikai Company Profile and Main Business

9.14.3 Shandong Taikai Power Equipment Models, Specifications, and Application

9.14.4 Shandong Taikai Power Equipment Revenue and Gross Margin, 2020-2025

9.14.5 Shandong Taikai Recent Developments

9.15 XJ Electric

9.15.1 XJ Electric Company Information, Head Office, Market Area, and Industry Position

9.15.2 XJ Electric Company Profile and Main Business

9.15.3 XJ Electric Power Equipment Models, Specifications, and Application

9.15.4 XJ Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.15.5 XJ Electric Recent Developments

9.16 Baoding Tianwei Baobian Electric

9.16.1 Baoding Tianwei Baobian Electric Company Information, Head Office, Market Area, and Industry Position

9.16.2 Baoding Tianwei Baobian Electric Company Profile and Main Business

9.16.3 Baoding Tianwei Baobian Electric Power Equipment Models, Specifications, and Application

9.16.4 Baoding Tianwei Baobian Electric Power Equipment Revenue and Gross Margin, 2020-2025

9.16.5 Baoding Tianwei Baobian Electric Recent Developments

10 Conclusion

11 Appendix

11.1 Research Methodology

11.2 Data Source

11.2.1 Secondary Sources

11.2.2 Primary Sources

11.3 Market Estimation Model

11.4 Disclaimer

Tables & Figures:
Show more
Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Power Equipment Market Size Estimation

To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.

Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.

Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.

We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.

Data Source

Secondary Sources

This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.

These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.

Market Size
  • Segmental value
  • Geographic Penetration
  • Product Adoption Rate for Different market
  • Journals, Websites, and Press Releases
  • Annual Reports and SEC Filings
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Market Intellix Data Repository
Market Position of Top Company
  • Product Financials
  • Geographic value Mix
  • Total Company value
  • Business/Segmental value Mix
Qualitative Analysis
  • Influence Factors
  • Market Potential
  • Market Risks and Opportunities
  • Industry Trends
  • Geographical Features
  • Government Policies
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Annual Reports
  • Industry Associations
  • Market Intellix Data Repository

Primary Sources

As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.

On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.

These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.

Key Data Information from Primary Sources

Primary Sources Parameters Key Data
Market Segments(by Application, by Type)
  • Value by Type
  • Status and Forecast
  • Value by Application
  • Value by Regions, Status and Forecast (2025-2031)
  • Value Market Share by Type
  • Value Growth Rate by Type
  • Value by Application
  • Percentage and Growth Rate by Application
  • Value Growth Rate and Market Share by Regions
  • Market Size Status and Forecast (2025-2031)
Total Market
  • Overall Size, Status and Forecast
  • Market Size Status and Forecast (2025-2031)
Frequently asked questions(FAQ's):
Why is the Power Equipment Market trending toward high growth trajectories?
A dynamic process in the Power Equipment Market is initiated by new entrants, including competitors from unrelated industries, in addition to the established players like 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.
How competitive is the Power Equipment Market going to be?
The strategic moves of the Power Equipment Market players such as 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, and others clearly highlight consumer-centric strategies that use technology to improve customer experience.
Where are the Power Equipment used?
The Power Equipment are employed in High Voltage Application, Medium Voltage Application, Low Voltage Application.
What is the estimated value of the Power Equipment Market?
The Power Equipment Market is expected to reach a reasonable valuation by 2030; now the market is expected to shift its focus from growth to value.
What does the future hold for the Power Equipment Market?
As the shift to value addition continues, companies in the Power Equipment Market face the dual challenge of improving interoperability to optimize performance and experience.
How is the competitive landscape for the Power Equipment Market defined?
Companies in the Power Equipment Industry are thoroughly researched and profiled in order to determine why certain trends will have a significant impact and how they will be factored into the Power Equipment Market's trajectory and future outlook.