Research Nester published a report titled “Transmission and Distribution Equipment Market: Global Demand Analysis & Opportunity Outlook 2024” which delivers detailed overview of the transmission and distribution equipment market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The energy sector faces significant challenges pertaining to the aging T&D infrastructure, where the existing power delivery system poses a threat to public safety and the national economy. Such equipment requiring upgradation is estimated to boost the growth of the market. Moreover, rise in demand for energy is projected to strengthen the market growth in upcoming years. The global transmission and distribution equipment market generated revenue of USD 157 Billion in 2015 and is anticipated to grow by a CAGR of 6.36% over the forecast period i.e. 2020-2024 and touch USD 273 Billion in 2024. The global market is segmented by type into switchgears, transformers, meters, inductors and capacitors, out of which, the switchgear segment is estimated to garner highest share throughout the forecast period.
On the basis of geography, the global transmission and distribution equipment market is segmented into five major regions comprising North America, Asia Pacific, Europe, South America, and Middle East & Africa. Among these regions, the Asia Pacific is estimated to display significant opportunities for the market growth, where the market is estimated to hold leading position by growing at a CAGR of 7.23% during the forecast period. This growth is closely trailed by the market in North America where the aging transmission and distribution infrastructure is the major reason which is anticipated to drive the market growth.
Rapidly Growing Demand for Energy to Boost Market Growth
The rapidly growing demand for primary energy from the commercial and industrial end-use sector is among a key factor anticipated to propel the growth of the transmission and distribution equipment market over the forthcoming years. According to the statistics by the EIA, the overall energy demand is estimated to grow by 50% by the year 2050. Furthermore, an increasing number of investments by utilities in tandem with the rising adoption and awareness concerning the efficient transmission and distribution of electricity is also expected to propel the market growth of global transmission and distribution equipment.
However, high capital investment and insufficient periodic testing and inspection of power distribution and transmission equipment are expected to act as barriers to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global transmission and distribution equipment market which includes company profiling of ABB (NYSE: ABB), Siemens AG (ETR: SIE), Schneider Electric (EPA: SU), General Electric (NYSE: GE), Mitsubishi Electric (TYO: 6503), Eaton Corporation PLC (NYSE: ETN), TBEA (SHA: 600089), Fuji Electric (TYO: 6504), China XD Group, BHEL (NSE: BHEL), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global transmission and distribution equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.