Electric Transmission and Distribution Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Electric Transmission and Distribution Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Electric Transmission and Distribution Equipment Market Introduction
Electric transmission and distribution equipment are the tools that are employed for the movement of power or electrical energy from a power generation plant to an electrical substation located somewhere else. Electric transmission and distribution equipment involve interconnected lines, known as transmission networks, which facilitate the movement of electrical energy. Various types of electric transmission and distribution equipment, including transformers, wires & cables, power supply, and meters, are undergoing technological transformations with the rise in demand for more efficient, safer, and more reliable equipment.
Electric Transmission and Distribution Equipment Market – Notable Developments
- ABB Groups – a Swiss-Swedish multinational corporation operating in the electric transmission and distribution market – recently announced that is has expanded its transformer product range by launching new products. The new range of ABB’s products includes ABB AbilityTMTXpertTMDry, which as the company claims is world’s first dry-type (oil free) digital transformer, along with another innovative product called TXpandTM. The company aims to expand its transformer product range with the digitally integrated transformer technologies such as the ABB AbilityTM, the TXpertTM distribution transformers, and the TXploreTM service solution.
- GE Power and TransnetBW – two of the leading companies in the electric transmission and distribution equipment market – recently signed an agreement to build the Eichstetten 380 kV substation, which is a highly loaded link for the transmission grid in the southwest of Germany. The contract for a turnkey solution is mainly aligned with GE’s strategy to offer scalable power solutions and TransnetBW’s plans for expanding its electricity grid in Germany.
- Prysmian Group – an Italian company in the electric transmission and distribution equipment market and world leader in the energy and telecom cable systems industry – announced that it has signed a €17 million contract with New Brunswick Power Corporation (NB Power) – an electric utility in the Atlantic Canada. The company declared that it will be developing a new submarine cable link which will connect the mainland power grid in the Canadian province to Campobello Island, Deer Island, and Grand Manan Island. The company will be upgrading the existing capacity of submarine transmission system in the Passamaquoddy Region of the Bay of Fundy, which presents very strong currents with the highest tides in the world.
Some of the most prominent competitors operating in the competitive landscape of global electric transmission and distribution equipment market include –
- Siemens
- GE-Alstom
- ABB
- 3m
- Sterlite Power
- Prysmian
- Schneider Electric
- Burns and McDonnell
- Power Engineering International
Electric Transmission and Distribution Equipment Market Dynamics
Increasing Growth of the Power Industry will Drive Demand for Electric Transmission and Distribution Equipment
The global power industry is witnessing tremendous growth with the leading companies introducing digital transformations in their business operations. With the increasing urbanization and industrial developments worldwide, especially in emerging economies such as China and India, the global power demand has increased significantly in the past few years.
The world energy demand is likely to increase by whopping 30% by the end of the year 2040—the equivalent of adding another China and another India to the current energy demand, according to International Energy Agency (IEA). Thereby, increasing energy demand will directly reflect into a substantial growth in adoption of electric transmission and distribution equipment, which will support growth of the electric transmission and distribution equipment market in the upcoming years.
High Regulatory Standards and Guidelines for Electric Transmission and Distribution Equipment can Create Manufacturing Challenges
While the market for electric transmission and distribution equipment has been growing at a rapid pace, it is mandatory for market players to conform to strict regulatory requirements of governing bodies in various countries. In order to ensure the reliability and stability of electricity grids, various regularities bodies have established some guidelines and standards for electric transmission and distribution market players.
Thereby, conforming to high stringency of mandatory reliability standards associated with the planning and operations of power systems, which address security concerns for critical electrical transmission and distribution, can lead to increased production cost for electric transmission and distribution equipment. This is creating some major manufacturing challenges for electric transmission and distribution equipment market players.
Adoption off the Electric Transmission and Distribution (T&D) Technology – A Predominant Trend in the Market
With the increasing growth of the electric transmission and distribution equipment market, leading market players are focusing on enhancing the performance, capture value of equipment, and reducing the asset-management costs for end-users, ultimately to stay at the edge of the competition in electric transmission and distribution equipment market.
T&D operators across the world are adopting new technologies to improve energy efficiency, reliability, and other features of electric transmission and distribution equipment. Furthermore, increasing investments in renewable energy facilities and needs for reducing energy losses is bolstering adoption of the next-generation T&D technologies across the electric transmission and distribution equipment market.
Electric Transmission and Distribution Equipment Market Segmentation
Based on voltage, the electric transmission and distribution equipment market is segmented into,
- High Voltage
- Medium Voltage
- Low Voltage
Based on product types, the electric transmission and distribution equipment market is segmented into,
- Meter
- Smart Meter
- Basic Meter
- Transformer
- Distribution Specialty
- Power
- Wire & Cable
- Insulator & Capacitor
- Switchgear
Based on the end-user, the electric transmission and distribution equipment market is segmented into,
- Residential
- Industrial
- Energy and Utilities
- Commercial
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report