Global Power Transmission and Distribution Equipment Market to Reach $312.8 Billion by 2026

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Global Market for Power Transmission and Distribution Equipment

Global Market for Power Transmission and Distribution Equipment
Global Market for Power Transmission and Distribution Equipment

Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Power Transmission and Distribution Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Power Transmission and Distribution Equipment Market to Reach $312.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Power Transmission and Distribution Equipment estimated at US$257.5 Billion in the year 2022, is projected to reach a revised size of US$312.8 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Wire & Cable, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$117.7 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Switchgear segment is readjusted to a revised 5.3% CAGR for the next 7-year period. This segment currently accounts for a 25% share of the global Power Transmission and Distribution Equipment market.

The U.S. Market is Estimated at $68.2 Billion in 2022, While China is Forecast to Reach $63.7 Billion by 2026
Transformers can be either integrated in compact substations or free-standing; pad, platform, ground, pole-mounted, and should exhibit high performance thermally, magnetically and electrically. Transformers need to be designed in such a way that they are easy to handle, install, lift, and transport. The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$68.2 Billion in the year 2022. The country currently accounts for a 26.99% share in the global market.

China, the world's second largest economy, is forecast to reach an estimated market size of US$63.7 Billion in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$74.6 Billion by the end of the analysis period.

Major developments occurring in power transmission and distribution (T&D) systems across the world include electrification of transportation and heating for long term reduction of carbon emissions; decentralization through distributed generation, storage, and demand response; and digitization through the integration of smart sensor, smart meters, connected devices, Internet of Things (IoT), and other digital network technology systems and solutions.

Select Competitors (Total 192 Featured):

  • ABB Ltd.

  • Bharat Heavy Electricals Limited (BHEL)

  • CG Power and Industrial Solutions Limited

  • DAIHEN Corporation

  • Eaton Corporation PLC

  • Efacec

  • GE Grid Solutions

  • Hammond Power Solutions, Inc.

  • Hubbell Inc.

  • Hyosung Power & Industrial Systems Performance Group

  • Hyundai Electric & Energy Systems Co., Ltd.

  • Imefy Group

  • JiangSu HuaPeng Transformer Co., Ltd.

  • KONCAR - Electrical Industry Inc.

  • Mitsubishi Electric Corporation

  • Schneider Electric SE

  • SGB-SMIT GmbH

  • Shihlin Electric & Engineering Corporation

  • Siemens AG

  • Wilson Power Solutions Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Demand for New-Age Power Transformers Offering Greater Reliability, Efficiency, Resilience, and Durability Drive Healthy Market Growth

  • Future for Gas-Insulated Transformers Appears Bright

  • IEC Standards for Gas-Insulated Transformers

  • Powerformer: A Superior Replacement for Step-Up Transformer

  • Innovative On-load Tap Changers (OLTCs) Improves Reliability and Safety

  • Global T&D Vision of Increasing Renewable Energy in Power Systems Benefit Market Prospects for T&D Equipment

  • Rising Utility Investments in Power T&D Infrastructure for Transitioning to the Smart Grid Standard Drive Market Adoption

  • Power Infrastructure to Experience Considerable Transformation Driven by Technology Innovations

  • Distribution Transformers with On-Load Tap Changers to Play Critical Role in Smart Grids

  • Microgrids: Critically Important in Fulfilling Domestic Demand, Improving Reliability, and Enabling Local Control

  • Smart Power Distribution Gains Momentum

  • Myriad Benefits and Superior Attributes over Traditional Transformers Drive Strong Demand for Smart Transformers

  • Smart Transformers for Smarter Power Transmission and Distribution

  • Growing Need to Curtail Energy Loss and Achieve Energy Savings Drive Demand for Distribution Transformers

  • Huge Savings Potential of Higher Efficiency Distribution Transformers

  • Efforts for Making Energy Performance of Distribution Transformers More Visible

  • Universal Adoption of MEPS Needed for More Savings

  • Economic Incentives Encourage Distribution Networks to Adopt Higher Efficiency Transformers

  • Public Policies Concerning Transformers at the Product, Utility and Market Levels

  • Switchgears: The Dominant Product Category Continue to Witness Growing Demand

  • Technological Breakthroughs Support Switchgears Growth

  • Upgrade of Obsolete Systems to Spur Demand for Switchgears

  • Switchgear Equipment to Benefit from Recovery in Residential and Commercial Construction

  • Percentage Contribution to Growth in Global Construction Output by Major Countries over the Period 2010-2022

  • Energy Storage Set to Disrupt Investments in Transmission and Distribution Infrastructure

  • Growing Threat of Global Warming Stokes Demand for Green Distribution Transformers

  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries

  • Green Transformer Program Supports Environmental Protection

  • Transformers Going Green, Ester Used for Insulation Purposes

  • Natural Ester Fluid-Based Amorphous Transformers

  • Exponential Increase in Global Population & Urbanization Rate: A Mega Trend Favoring Market Expansion

  • New Infrastructure, Upgrade, and Expansion Projects in Developing Countries Offer Immense Growth Potential

  • Rural Electrification Drive in Developing Countries Promote Growth

  • Aging Power T&D Infrastructure Underscores Need for Replacement and Upgrades in Developed Markets

  • Stabilizing Regulatory Environment Augurs Well for the Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/epryic

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