Global Electric Transmission and Distribution Equipment Market is expected to grow at a robust CAGR
Global Electric Transmission and Distribution Equipment
Market is expected to grow owing to growing energy demand from residential,
commercial and industrial sectors throughout the forecast period.
According to TechSci Research report, “Electric Transmission and
Distribution Equipment Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast 2018-2028”, the Global Electric Transmission and Distribution
Equipment Market is expected to register robust growth during the forecast period. The progress in
electric power transmission and distribution equipment to meet the increasing
demand for electricity from the residential, commercial, and industrial sectors
is driving the growth of the global market. Moreover, the government's
introduction of on-shore and off-shore projects to generate electricity in
response to the rising energy demand will lead to the deployment of efficient
switchgear, transformers, and meters for seamless power transmission and
distribution.
The increasing adoption of renewable energy sources, such
as solar and wind power, presents a significant opportunity for the electric
transmission and distribution equipment market. As the capacity of renewable
energy continues to grow, there is an increasing need for efficient and
reliable grid infrastructure to accommodate intermittent power generation and
distribute clean energy to consumers. This necessitates the development of
high-voltage transmission lines, grid management systems, and energy storage
solutions that enhance grid flexibility and stability.
Browse over XX market data Figures spread through XX Pages
and an in-depth TOC on the " Electric Transmission and Distribution Equipment Market."
Based on equipment, the
Wire & Cable segment is expected to dominate the market during the forecast
period. These overhead wires are used for the transmission of electricity over
long distances. They consist of bare overhead conductors, typically made of
aluminum or aluminum alloy. Insulated wires are utilized for a variety of
applications, including wiring within buildings, industrial machinery, and
electrical appliances. The installation of distribution cables is necessary to
extend electrical access to newly developed areas, driven by rapid urbanization
and electrification projects in emerging markets. Smart grids depend on
advanced communication and monitoring systems, necessitating specialized cables
and wires capable of transmitting data and power simultaneously. The global
growth of renewable energy projects will fuel demand for cables designed to
handle the variable output of wind and solar power. Cables engineered for
reduced energy loss during transmission present opportunities to enhance
overall grid efficiency. Furthermore, resilient cables that can withstand
extreme weather conditions and natural disasters contribute to grid resilience.
As countries collaborate on cross-border transmission projects, cable
manufacturers can seize opportunities to supply interconnection cables. In
conclusion, the Wire & Cable segment is vital for the functioning and
development of electric transmission and distribution systems. It plays a
crucial role in supporting grid expansion, the integration of renewable energy,
and grid modernization efforts, presenting both challenges and opportunities
for manufacturers and suppliers in the electric transmission and distribution
equipment market.
Based on product, the Transformer segment is projected to
dominate the market throughout the forecast period. Transformers come in
various types and sizes, including power transformers, distribution
transformers, and special-purpose transformers. They are essential for
maintaining grid stability, voltage control, and ensuring efficient electricity
flow across the entire grid. The growing adoption of electric vehicles (EVs) is
driving the demand for transformers to support EV charging infrastructure and
grid capacity upgrades. Transformers designed to minimize energy loss during
transmission and distribution present opportunities to enhance overall grid
efficiency. The continued expansion of renewable energy projects globally will
increase the need for transformers capable of handling the variable output of
renewable sources. EV charging infrastructure expansion requires transformers
that can manage increased load and power demand. Transformers play a vital role
in integrating energy storage systems into the grid, which is crucial for grid
stability and optimizing renewable energy. Collaborative cross-border
transmission projects offer opportunities for transformer manufacturers to
supply transformers for interconnections. In conclusion, the Transformer
segment is integral to the functioning and development of electric transmission
and distribution systems. It plays a crucial role in supporting grid expansion,
renewable energy integration, electrification of transportation, and grid
modernization efforts. Transformer manufacturers and suppliers have the
opportunity to innovate and provide solutions that enhance grid efficiency,
reliability, and sustainability.
Key market players in the Global Electric Transmission
and Distribution Equipment Market are:-
- General Electric Company
- Siemens AG
- Hyundai Electric & Energy Systems Co., Ltd.
- Xian XD Switchgear Electric
- Imefy Group
- Mitsubishi Electric Corp.
- Bharat Heavy Electricals Limited
- ABB Ltd.
- Schneider Electric SE
- Crompton Greaves
Download Free Sample Report
Customers can also
request for 10% free customization on this report.
“The Electric Transmission and Distribution Equipment
Market in Asia Pacific is poised to be the dominant force in the industry. The
expansion of electric vehicles in APAC requires investments in EV charging
infrastructure, creating opportunities for equipment manufacturers and service
providers in the electric vehicle charging ecosystem. APAC countries are
placing growing emphasis on sustainability. Equipment manufacturers have the
chance to capitalize on opportunities by offering eco-friendly and
energy-efficient solutions that align with regional sustainability objectives.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Electric Transmission and Distribution Equipment Market
– Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented By Equipment (Wire
& Cable, Switchgear, Transformer, Meter and Insulator & Capacitor), By
Product (Transformer, Switchgear, Insulators & Fittings, Cables &
Lines), By End User (Energy & Utilities, Industrial, Commercial and
Residential), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the
future growth potential of Global Electric Transmission and Distribution
Equipment Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Electric
Transmission and Distribution Equipment Market.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States-
10170
Tel: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com