Power equipment is subject to the combined effects of multiphysicsfields such as electricity,magnetism,heat,force,and fluid duringthe operation.Multiphysics coupling simulation is indispensable toensure the optimal design and operation reliability of powerequipment.In the multiphysics field calculation and softwaredevelopment for power equipment,it is necessary to overcome the keyissues such as the modeling of material nonlinearity,fast transientmethods with multiple space and time scales,multi-field couplingmechanism and the establishment of mathematical models,and stableand efficient solving of largescale and differential algebraicequations(DAE).Therefore,the research subjects and algorithms thatshould be focused on in the process of independent softwaredevelopment are introduced from the aspects of material parameterequivalence,multi-field coupling calculation technology,large-scalecross-scale calculation,and DAE solution.To promote the applicationof digital twin technologies based on numerical simulation in thefield of power equipment,new technologies such as the isogeometricanalysis method integrating geometric/simulationanalysis,reduced-order model method,and data-driven multiphysicssimulation method are summarized and analyzed.Finally,because ofthe problems in the indigenous computer-aidedengineering(CAE)software,the development status of the indigenousand overseas multiphysics software development technologies isanalyzed,and the development of multiphysics calculation softwarefor indigenous power equipment has been prospected.