REPORT HIGHLIGHT
Power Transmission Market size was valued at USD 319,054.9 Million in 2022, expanding at a CAGR of 3.5% from 2023 to 2030.
The market share of Power Transmission components will rise as a result of the ongoing construction of additional, ultra-high network infrastructure designed to reduce accumulated line losses. Future Power Transmission components have a great deal of potential because to their effective asynchronous connection, lower loss, low short-circuit current, and improved controllability. Transmission network growth will be aided by the government's efforts to reduce carbon dioxide emissions and by supportive legislative initiatives. Despite a huge increase in power producing capacity, energy shortages continue to be a concern for nations worldwide. The global market will expand due to sustainable technologies. The market for transmission components has expanded dramatically in recent years as a result of the growth of EHV networks and efforts to reduce cumulative losses from remote power sources.
Power Transmission Market- Key Insights:
- As per the analysis shared by our research analyst, the global Power Transmission market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2023-2030)
- The growing global population and urbanization have led to a significant rise in electricity consumption. This demand is expected to continue increasing due to the electrification of various industries, the integration of renewable energy sources into the grid, and the rising adoption of electric vehicles.
- Based on component, Transformer was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
- The industry situation will change as a result of ongoing repairs to damaged power supply equipment and the installation of cutting-edge transformers and transmission towers. The prognosis for business will be impacted by the increased demand for distributed energy technology and the increasing integration of renewable energy sources. The market landscape will be improved by the expanding installation of long HV cables to minimise line disruption and the vigorous development of effective interstate power transmission networks.
Regional Insights:
Europe region held the largest revenue share in the market for power transmission components in 2021. The market size will be aided by government initiatives that encourage the use of cutting-edge, energy-efficient technologies together with the incorporation of renewable energy sources. Additionally, to meet the numerous energy efficiency goals set by government authorities, conventional grid infrastructures need constant renovation and upkeep, which increases industry potential. The penetration of the product will increase due to the ongoing grid infrastructure upgrades and the rapid implementation of utility-based transmission networks.
Recent Developments:
- In July 2021, ABB signed a definitive agreement to sell its mechanical power transmission (Dodge) business to RBC Bearings Incorporated for US$2.9 billion in cash.
- In September 221, Premium Transmission, one of the leading gear and gearbox manufacturing companies in India, announced the launch of its new products in the industrial gear segment.
Key features of the study:
- This proposed research study on Power Transmission market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Power Transmission market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Power Transmission market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Power Transmission market
- Impact of COVID-19 on Power Transmission market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Power Transmission market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Power Transmission market, we have also included competitive landscape and key innovator analysis for the Power Transmission 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 Power Transmission 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 Power Transmission 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 POWER TRANSMISSION MARKET KEY PLAYERS
- ABB Ltd.
- Siemens AG
- General Electric Company
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Hitachi, Ltd.
- Eaton Corporation plc
- Toshiba Corporation
- Bharat Heavy Electricals Limited (BHEL)
- Crompton Greaves Limited
- Alstom SA
- Hyosung Corporation
- Prysmian Group
- Nexans SA
GLOBAL POWER TRANSMISSION MARKET, BY COMPONENT
- Transformer
- Circuit Breaker
- Isolator
- Insulator
- Arrestor
- Others
GLOBAL POWER TRANSMISSION MARKET, BY VOLTAGE
- 132 kV
- 220 kV
- 440 kV
- 660 kV
- 765 kV
GLOBAL POWER TRANSMISSION MARKET, BY CURRENT
GLOBAL POWER TRANSMISSION MARKET, BY REGION
- 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