PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164909
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164909
Electric Power Transmission and Distribution Equipment Market size was valued at USD 290,001.7 Million in 2021, expanding at a CAGR of 4.7% from 2022 to 2028.
Power transmission and distribution equipment (PTE) is required to transfer power and electrical energy from a power generation plant to a distant electric substation. It primarily involves the set of equipment such as switchboards, switchgear, belts & chains, basic & advanced meters, along with interconnected lines, that further leads to facilitating the flow of electrical energy. The growing demand for electric power transmission and distribution equipment over traditional transmission and control systems would flourish the market growth during the forecast period. The growth is mainly attributed to the ability of power monitoring devices to detect power problems before it occurs and reduce line losses. Moreover, the rising utilization of electricity worldwide coupled with increasing adoption of electric vehicles in the developed countries such as the U.S., Canada, Germany, and China will drive the market growth
Market Dynamics
The key factor driving the growth of the market is the growing energy demand from the residential, commercial, and industrial sectors. Globally the use of electrical appliances such as air conditioners, lighting system, and ventilators in residential and commercial sectors are further stimulating the market demand for PTE. Additionally, another crucial factor adding to the market growth is the development of smart cities and rapid modernization of electric grids, thereby enhancing the demand for the long-distance energy transmission system.
Moreover, the increasing investment in technological advancements is further contributing to the growth of the market. For instance, the development of multi-terminal high voltage direct current (HVDC) technology that facilitates the distribution of electricity with minimum energy loss and enables power grid connectivity from remote areas. Furthermore, globally, as a part of connected and accurate switchgear governments are encouraging the installations of smart grids and smart meters, which is further anticipated to fuel market growth in the coming years.
However, a major concern for the electric power and distribution equipment market is identified as the loss of electric energy during transmission and distribution.
COVID-19 impact:
Due to the impact of COVID-19 the electric power transmission and distribution equipment market faced a drop in market value and caused a negative impact on economic activity around the globe. The production activity is also affected due to the pandemic's interrupted supply chain and raw material manufacturing.
Segmentation Analysis:
The global electric power transmission and distribution equipment market is segmented on the basis of Product, end-use, and region.
The market is divided into three categories based on product: transformer, insulator & fittings, cables & lines, switchgear, and others. The cables & lines segment is growing at a significant growth during the forecasted timeframe. This is mainly attributed to the smart upgrading of the development of smart grids, power transmission, and distribution systems. Additionally, rising consumption for interconnections has further resulted in growing investments in underground and submarine cables.
The market is divided into three categories based on end users: residential, commercial, industrial, and transportation. Rapid infrastructure development in the developing and developed regions along with the rising adoption of electric vehicles will lead to industrialization, thereby would fuel the industrial segment during the review period.
Competitive Landscape:
Due to the continued development in demand for electricity worldwide, the global market for power transmission and distribution equipment is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including product costs, performance, product making, technology, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions.
Key features of the study:
This proposed research study on electric power transmission and distribution equipment market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for electric power transmission and distribution equipment market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the electric power transmission and distribution equipment market
Impact of COVID-19 on electric power transmission and distribution equipment market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on electric power transmission and distribution equipment market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the electric power transmission and distribution equipment market, we have also included competitive landscape and key innovator analysis for the electric power transmission and distribution equipment market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the electric power transmission and distribution equipment market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global electric power transmission and distribution equipment market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRIC POWER TRANSMISSION AND DISTRIBUTION EQUIPMENT MARKET KEY PLAYERS
Hubbell Incorporated
Itron Incorporated
ABB Ltd.
Larsen & Toubro Limited
Eaton Corporation
General Electric
Mitsubishi Electric Corporation
Siemens AG
Fuji Electric
BHEL
Alstom SA
XD Group
GLOBAL ELECTRIC POWER TRANSMISSION AND DISTRIBUTION EQUIPMENT MARKET, BY PRODUCT
Transformer
Insulator & Fittings
Cables & lines
Switchgear
Others
GLOBAL ELECTRIC POWER TRANSMISSION AND DISTRIBUTION EQUIPMENT MARKET, BY End-Use
Residential
Commercial
Industrial
Transportation
GLOBAL ELECTRIC POWER TRANSMISSION AND DISTRIBUTION EQUIPMENT MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA