2019 Electricity Transmission and Distribution Market Size, Research, Report and Industry Overview
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The Electricity Transmission, Control, And Distribution market is expected to grow at a CAGR of around 3% to nearly $4,264 billion by 2022.
Growth in the historic period resulted from rise in power consumption and regulatory changes to boost electricity transmission and distribution. Going forward, investments in renewable energy, economic growth, increasing demand for electricity from manufacturing, growing use of electricity in transportation will drive growth. Factors that negatively affected growth in the historic period were electricity transmission and distribution losses and rise in debts. Factors that could hinder the growth of this market in the future are aging power transmission and distribution infrastructure, interest rate increases and environmental regulations.
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The Electricity transmission, control, and distribution market is segmented by type of product
By Type of Product- The Electricity Transmission, Control, And Distribution market can be segmented by type of product into power transmission, control, and distribution and power generation. The power transmission, control, and distribution market accounted for the largest share of the power generation, transmission, and distribution market in 2018 at around 65% and is expected to be the fastest-growing segment.
By Geography- The Electricity Transmission, Control, And Distribution market is segmented into Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa, and China and the USA. Among these regions, Asia-Pacific is the largest market for power generation, transmission, and distribution market, accounting for around 45% of the global market. It was followed by Western Europe, North America and then the other regions. Going forward, Asia-Pacific, and Middle East will be the fastest growing regions in this market. This is followed by, Africa and South America.
Adaption Of Collaborative Robots - Companies in the electric power transmission, control, and distribution market are increasingly adopting collaborative robot technology to assist in routine tasks and minimize risks. A “cobot” or collaborative robot is a robot designed to assist humans as a guide in any specific task. Implementing IoT Technology - Electric power transmission, control and distribution companies are looking to implement automation to eliminate errors and increase efficiency, through IoT enabled monitoring and control equipment.
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