Global APG Equipment Market Status: Expansion and Differentiation Coexist

(I) Market Size and Growth Trend

2025 became a key growth point for the APG equipment industry, with the global market showing a trend of “both volume and price increases”: annual sales reached 923 units, the average unit price remained stable at US$66,000/unit, and total market revenue exceeded US$62.66 million. This growth was mainly due to the release of demand from downstream power system upgrades and emerging application areas, with the Chinese market performing particularly well. In 2025, the market size accounted for nearly 30% of the global market, and it is expected to further increase to 38% by 2032, becoming the core engine of global market growth. In the long term, the global market’s compound annual growth rate (CAGR) will remain at 8.0% from 2026 to 2032, and market revenue is expected to reach US$155 million in 2032, doubling the size by 147% compared to 2025.

 (II) Product Structure and Application Segmentation A clear product grading system has been established in the market: based on template size, small and medium-sized equipment with template sizes <1㎡ mainly serves the production of precision insulation components in the electronics and electrical industry, accounting for 62% of global sales; large equipment with template sizes ≥1㎡ focuses on the manufacturing of high-voltage insulators, GIS components, and other products in the power industry. Although its sales share is only 38%, it contributes more than 55% of market revenue due to its high technical threshold. In terms of application areas, the power industry remains the core source of demand, accounting for 68%, while the electrical and electronic industry has the fastest growth rate, with a year-on-year increase of 12.3% in 2025. Emerging scenarios such as the three-electric systems of new energy vehicles and 5G communication base stations are becoming new growth points for demand.

(III) Competitive Landscape and Regional Distribution The global market exhibits a competitive landscape characterized by “concentration in the high-end and dispersion in the mid-to-low-end”: International brands HEDRICH GROUP and HÜBERS, leveraging their high-end customization capabilities and patented technological barriers, occupy 35% of the global market share, primarily serving high-end power equipment companies in Europe and America. Chinese domestic companies, relying on cost advantages and localized services, have formed a cluster effect in the mid-to-low-end market. Companies such as Jiangshan Huaao Electric Power Technology and Pingxiang Womet together hold over 60% of the domestic market share and are accelerating their penetration into emerging markets such as Southeast Asia and Central and Eastern Europe. In terms of regional distribution, the Asia-Pacific region, with a 45% market share, is the world’s largest market, followed by North America (28%) and Europe (22%). Emerging markets such as Central and Eastern Europe and Southeast Asia are experiencing growth rates exceeding 15%, becoming key areas for manufacturers’ strategic deployments.

(IV) Industry Profitability and Competitive Focus The overall gross profit margin of the industry remains at a relatively high level of 25%-40%, but there is a significant divergence in profitability: the gross profit margin of high-end customized equipment can reach 35%-40%, while the gross profit margin of general-purpose equipment has been compressed to 25%-30% due to intense competition. The current focus of competition has shifted from comparing the performance of individual equipment to comprehensive solutions combining “equipment + services.” Leading companies are strengthening value-added services such as process training, remote operation and maintenance, and customized development, making complete production line delivery capability a core competitive advantage. Furthermore, mergers and acquisitions are accelerating industry consolidation. Globally, related M&A events are expected to increase by 30% year-on-year in 2025, mainly concentrated among core component manufacturers and regional distributors. Leading companies are further consolidating their competitive advantages through vertical integration.