Global Electric Power Transmission and Distribution Equipment Market to Grow at 4.09% During 2024-2032, Catalyzed by Modernization of Electrical Grids

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 2024-2032,” the global electric power transmission and distribution equipment market is expected to grow at a CAGR of 4.09% during 2024-2032. 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.

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.

Market Summary:

• 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., CG Power and Industrial Solutions Limited, Eaton Corporation Plc, General Electric Company, Hubbell Incorporated, Itron Inc., Larsen & Toubro Limited, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG and TBEA Co., Ltd.

Report Scope:

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