Electric Power Transmission and Distribution Equipment Market, by Equipment (Wire Cable, Switchgear, Transformer, Meter, Insulator Capacitor), Voltage (Low Voltage, Medium Voltage, High Voltage), End User (Energy Utilities, Industrial, Commercial and Residential) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The Electric Power Transmission and Distribution Equipment market size was estimated at USD 228.68 billion in 2023 and is projected to reach USD 339.33 billion in 2030 at a CAGR of 5.80% during the forecast period 2023-2030.
Electric power transmission and distribution equipment are essential components of the electrical grid that facilitate the efficient and safe transfer of electricity from power plants to consumers. These systems are responsible for transmitting high-voltage electricity over long distances and then stepping it down to lower voltages for distribution to homes, businesses and industries.
Key components that are commonly found in electric power transmission and distribution systems are transformers, transmission lines, substations, circuit breakers, switchgear, distribution lines, capacitors and reactors, power meters, protective relays and lightning arresters. The growth of the market is being driven by the increasing demand for electricity, the need to upgrade the existing transmission and distribution infrastructure and the rising investments in smart grids.
The proper functioning and maintenance of these power transmission and distribution equipment are crucial for ensuring a reliable and efficient supply of electricity to meet the demands of modern society. Additionally, advancements in technology and the integration of smart grid technologies are continuously improving the performance and monitoring of these systems.
The electric power transmission and distribution equipment market can be segmented based on various factors. Based on equipment, the market is segmented into wire cable, switchgear, transformer, meter and insulator capacitor. Based on voltage the market is bifurcated into low voltage, medium voltage and high voltage. Based on End user, the market is segmented into energy utilities, industrial, commercial and residential. Lastly, based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America.
The electric transmission and distribution equipment market was negatively impacted by the COVID – 19 Pandemic. The pandemic affected the power industry and caused a decline in the market due to decline in demand for energy and adversely affected the market of electric transmission and distribution equipment due to their application, mostly found in these industries. The lockdown interrupted the supply chain and raw material manufacturing, which affected the production activity of the transmission and distribution equipment. Industries and the commercial sector faced a decrease in the demand due to the lockdown but the residential segment saw an increase in the demand for energy as people stayed at home to follow social distancing norms.
Due to increasing demand for electricity, rapid industrialization and commercialization in developing countries, the demand for electric transmission and distribution market is increasing. The increase can also be attributed to the need to upgrade the existing transmission and distribution infrastructure which in turn has increased the investments in smart grids. However, there is a need to tackle the issue of high cost of installation of these equipment which is hampering the growth of the market.
Asia Pacific to Dominate the Market
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 5.80% during the forecasting period, 2023-2030 |
Historical Data |
2019-2021 |
Forecast Years |
2023-2030 |
Base Year |
2022 |
Units Considered |
Revenue in USD billion and CAGR from 2023 to 2030 |
Report Segmentation |
Equipment, voltage, end user and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East, and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, and South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Mitsubishi Electric Corp., Hyundai Electric & Energy Systems Co., Ltd., Schneider Electric, Xian XD Switchgear Electric, General Electric, Imefy Group, Crompton Greaves, ABB, IGUS, Siemens AG, Eaton, Wilson Transformer Company Pty Ltd., Toshiba Energy Systems & Solutions Corporation, SGB-SMIT Group, S&C Electric Company Inc., Prysmian Group, Pioneer Power Solutions, Inc., Larsen & Toubro Limited, KONCAR Electric Industry Inc., JiangSu HuaPeng Transformer Co., Ltd. (JSHP) |
Available Customization |
In addition to the market data for the Electric Power Transmission and Distribution Equipment Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements. |
The Electric Power Transmission and Distribution Equipment Market is segmented into various segments such as Equipment, Voltage, End User and region:
Based on Equipment
Based on the Voltage
Based on the End User
Based on region
The prominent players in the Electric Power Transmission and Distribution Equipment market are