According to the latest report by IMARC Group, titled “Electric Power Transmission and Distribution Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global electric power transmission and distribution equipment market size reached US$ 152.5 Billion in 2020. Electric power transmission and distribution (T&D) equipment assists in transporting and delivering electrical energy from the utility generating station to different outlets. It facilitates the flow of electrical energy and the distributed power is then consumed domestically and industrially for the generation of light and heat and the operation of other electrical devices. At present, there is a rise in the demand for efficient, reliable, and safer T&D equipment across the world.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Electric Power Transmission and Distribution Equipment Market Trends:
The increasing utilization of electrical appliances, such as ventilators, air conditioners and lighting systems, in residential and commercial spaces represents one of the primary factors creating a positive market outlook. Besides this, rising investments in smart cities by governing agencies of numerous countries have resulted in the modernization of electrical grids. This, in confluence with the growing environmental concerns and increasing investments in renewable energy, is strengthening the market growth. Furthermore, the key players are focusing on introducing equipment at competitive prices to expand their overall market reach. Other factors anticipated to drive the product demand include rapid urbanization and increasing research and development (R&D) activities for the development of energy infrastructure. Looking forward, IMARC Group expects the market to continue its moderate growth during the forecast period (2021-2026).
- Based on the equipment type, the market has been categorized into wires and cables, switchgear and switchboards, transformers (power, distribution, and specialty), meters (basic and smart meters), insulators and capacitors, and others.
- On the basis of the powerline installation type, the market has been bifurcated into underground and overhead installations.
- Based on the voltage, the market has been segmented into low, medium, and high voltage distribution.
- On the basis of the end use industry, the market has been classified into utilities, industrial, residential and commercial segments.
- Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being ABB Ltd., ALSTOM Holdings, CG Power and Industrial Solutions Limited, Eaton Corporation Plc, EMCO Limited, The General Electric Company, Hubbell Incorporated, Itron Inc., KOHLER Co., Larsen & Toubro Limited, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG and TBEA Co., Ltd.
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