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Power Transmission Component Market Revenue & Growth Analysis By Top Manufacturers - BB, Toshiba, EATON, Siemens, Crompton Greaves, General Electric, Hitachi, Schneider Electric

10-03-2019 07:28 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Power Transmission Component Market Revenue & Growth Analysis

Power Transmission Component Market is predicted to reach over USD 100 billion by 2024. Growing spending toward the replacement and renovation of existing electrical grid infrastructure along with expansion of utility transmission network will drive the industry outlook. Accruing coalited and AT&C losses related to lack of grid infrastructure across developing nations will further propel the industry growth.
Technological advancement in smart monitoring and control technologies coupled with strict energy efficiency protocol will stimulate power transmission component market Increasing demand for distributed generation technologies along with continuing capacity addition to integrate renewable energy mix will further stimulate business outlook.

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Moreover, increasing focus toward adoption of energy efficient technologies to curb losses along with expansion of high tension DC network will stimulate the industry growth.Made in China 2025, supporting the infrastructure sector will favor the industry growth.
China power transmission component market predicted to witness substantial growth on account of. Growing investment towards expansion of cross border interconnection. Further government measures to promote the development of integration of sustainable electric network will stimulate the business outlook.
Power Transmission Component Market, By Component
• Transformer
• Circuit Breaker
• Isolator
• Insulator
• Arrester
• Transmission line
• Transmission tower

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Favourable government measures towards the cross-border electricity transmission interconnection along with ongoing development of utility grid networks will stimulate the power transmission component market share of ≥ 765 kV. Establishment of high tension networks to reduce overall AT&C losses coupled with rapid industrialization will complement the business growth.
Growing deployment of smart grid network along with favourable policy interventions will stimulate Europe's power transmission component market share. In 2017, Germany, Italy, Sweden, France and UK announced to invest more than USD 100 billion to promote the adoption of smart grid network. Growing focus to maintain energy conservation along with government measures to ensure energy security will further expand the industry growth.

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Growing investment toward retrofitting of existing electrical infrastructure across the nation will propel the U.S. power transmission component market Introduction of peninsula electrification program along with growing investment toward infrastructure sector will further complement the business outlook. In 2017, regulators announced to fund over USD 100 million to strengthen the electricity infrastructure across the U.S.
Major players across the power transmission component marketinclude Eaton, Siemens, General Electric, Hitachi, Crompton Greaves, BHEL, Emerson, Aster, Sterlite, ABB, Toshiba, ZTT, KEC International, Hyundai, Schneider, L&T, Tebian Electric Apparatus Stock, Apar, Mitsubishi and SAE.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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