Voltage Detection System Market - By Regional Outlook & GLobal Forecast, 2022 - 2030

Industry Drivers

Voltage Detection System Market size valued at USD 1 billion in 2021 and is projected to expand at over 4% CAGR from 2022 to 2030. This growth is attributed to the rising penetration of medium voltage switchgear due to increasing electricity demand.
 

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The increasing installations of MV switchgears in residential and commercial areas will boost the demand for voltage detection systems. Notably, governments of developing nations are collaborating with private & public players operating in the power sector to deploy efficient T&D infrastructure.
 

Efforts by administrative authorities to upgrade existing networks to cater to the rising energy demand across the globe will also have an impact on the sales of voltage detection systems. For instance, in January 2022, the Department of Energy unveiled its new Building a Better Grid Initiative that focuses on upgrading the domestic transmission lines through collaborative planning, coordinated permitting, innovative financing mechanisms, and continual transmission-related R&D activities.
 

Volatile raw material prices may restrain industry progression

Dynamic prices of raw materials are a major factor restraining the voltage detection system industry growth. Rising concerns pertaining to the export quotas may increase raw material prices and affect the international market dynamics. Consequently, since managing raw materials costs is a top priority for manufacturers, consistent measures to manufacture low-cost detection systems will help tackle the issue. In addition, the expansion of existing network grids will also alter the outlook of the voltage detection system industry. Firms are focusing on enhancing their portfolio and industrial performance by building and expanding their business infrastructure foundations. Companies will benefit from government-initiated partnerships devised for bolstering the grid infrastructure.
 

Accelerating population growth to aid Asia Pacific emerge as a prominent revenue pocket

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The APAC region is anticipated to hold 33% of the voltage detection system market share by 2030 propelled by soaring population growth. Ongoing development and refurbishment of T&D networks to tackle the rising electricity demand in the region will act as a major growth driver.
 

Moreover, the surging requirement for uninterrupted power supply across energy-intensive industries will compel the DSOs to effectively monitor the power supply, further fostering the industry progress. Another region that may emerge as a key revenue hub is Europe. The region is expected to depict sizable growth owing to the mounting penetration of the commercial sector across the region, which is stimulating the overall electricity demand.
 

Rising adoption of effective systems to strengthen the market outlook

Major participants operating in the voltage detection system market are Dipl.-Ing. H. Horstmann GmbH, Epoxy House, Georg Jordan, Kries-Energietechnik GmbH & Co. KG, ELECTRONSYSTEM MD SRL, K. K. Sales Corporation, C&S Electric Limited, KPB INTRA s.r.o., and Orion EE. The positive outlook toward effective monitoring and control systems across the power distribution sector will push business growth.
 

For instance, in May 2022, Horstmann GmbH Ltd. received a contract to supply short circuit and earth fault indicators to equip & digitize rectifier stations for the trolley bus network in the city of Solingen, Germany. As a part of the lighthouse project in Germany, Horstmann agreed to provide parts of medium-voltage grid intelligence for the overhead line of Solingen trolleybus transportation.
 

Impact of COVID-19 on the voltage detection system market trends

During the initial phases of the COVID-19 pandemic, the industry witnessed new growth opportunities. High research emphasis on developing screen detectors for COVID-19 virus boosted the need for controlled voltage in these systems. To that effect, in April 2022, a team developed an IoT framework for screening COVID-19 using real-time data, which utilized voltage-controlled oscillators to translate signals seamlessly. In addition, a gradual increase in population in developing countries like India also elevated the demand for electricity, thereby pushing voltage detection system uptake.
 

This market research report on voltage detection system includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2018 to 2030, for the following regions:

• North America
  • U.S.
  • Mexico
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • Australia
  • Japan
  • South Korea
  • India
  • China
• Middle East & Africa
  • UAE
  • South Africa
  • Saudi Arabia
• Latin America
  • Argentina
  • Brazil