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GSA electricity transmission and distribution EPC market to reach valuation of US$ 546.5 bn by 2030: TRANSPARENCY MARKET RESEARCH
GSA Electricity Transmission & Distribution EPC Market: IntroductionThe electricity transmission & distribution EPC market in Germany, Switzerland, and Austria (GSA) was valued at US$ 380.9 Bn in 2019 and is anticipated to expand at a CAGR of 3.5% during the forecast period. In terms of voltage, the low segment accounted for a major share of the electricity transmission & distribution EPC market in GSA in 2019. Increase in demand for electricity in residential and small commercial establishments is a key factor driving investments in development of low voltage distribution lines. In terms of installation, the underground segment held a significant share of the electricity transmission & distribution EPC market in GSA in 2019. The introduction of several projects by transmission system operators to build an underground HVDC transmission line in offshore areas is boosting investments in development of underground lines. Based on service, the procurement segment of the electricity transmission & distribution EPC market in GSA is anticipated to expand at a rapid pace during the forecast period.
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Major Drivers of GSA Electricity Transmission & Distribution EPC Market
The adoption of renewable energy has been increasing significantly since the last few years due to rise in efforts toward de-carbonization of the energy sector through scaling up of renewable capacity and progressive decommissioning of conventional plants. According to Enerdata, the share of renewable energy sources (including hydropower) in electricity production stood at almost 26% in 2018, an increase of nearly 1% over that in 2000 in the European Union. The rise in adoption rate of renewable resources has led to fluctuation in electricity output. This has resulted in increased concerns about grid stability. Significant investment is required in T&D infrastructure to ensure grid stability.
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Electricity transmission & distribution EPC plays a key role in the development of T&D infrastructure. An electricity transmission & distribution EPC contractor provides engineering design and procures equipment, thus offering functioning product for the client’s asset. The growth in investment in development of transmission & distribution infrastructure due to rise in adoption of renewable energy is estimated to augment the electricity transmission & distribution EPC market in GSA during the forecast period.
Prominent Contracts and Acquisitions in GSA Electricity Transmission & Distribution EPC Market
In July 2020, General Electric won a contract from RWE for the construction of the high voltage direct current (HVDC) electrical transmission system for the 1.4GW Sofia offshore wind farm to be located 195km in the English North Sea. The consortium of GE Renewable Energy’s Grid Solutions and Sembcorp Marine is estimated to supply and construct the HVDC system for Sofia, a prominent global offshore wind farm. In November 2015, Renewable Energy Systems Ltd. (RES) acquired the assets of System 3 Inc. based in California, the U.S. System 3 Inc. specializes in the construction of substations and transmission lines. The acquisition enabled Renewable Energy Systems Ltd. to consolidate its market share and diversify its services into utility infrastructure and transmission construction.
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Germany Leads GSA Electricity Transmission & Distribution EPC Market
Germany dominated the electricity transmission & distribution EPC market in GSA in 2019. The dominance of Germany in the electricity transmission & distribution EPC market in GSA can be ascribed to increase in investments in development of offshore wind power projects. The electricity transmission & distribution EPC market in Switzerland is anticipated to expand during the forecast period, owing to the increase in investments in refurbishment and replacement of aging electrical grid infrastructure. The electricity transmission & distribution EPC market in Austria is likely to expand at a moderate pace during the forecast period. The introduction of planned investment in development of transmission grid infrastructure to maintain grid security is a key factor driving the electricity transmission & distribution EPC market in the country.
Competition Landscape of GSA Electricity Transmission & Distribution EPC Market
The electricity transmission & distribution EPC market in GSA is dominated by several local and national players. Thus, the electricity transmission & distribution EPC market is fragmented. Prominent players operating in the electricity transmission & distribution EPC market in GSA include ARTECHE, Fluor Corporation, Europower Energie B.V., Eltel Networks, GOPA-International Energy Consultants GmbH, GENERAL ELECTRIC, Renewable Energy System Limited, Bechtel Corporation, Nuberg, EPC Solutions, IFM – Internationale Freileitungsmontage A.S., STEAG GMBH, and ZTT.
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GSA Electricity Transmission & Distribution EPC Market: Segmentation
GSA Electricity Transmission & Distribution EPC Market, by Voltage
Low (200V or 400V)
Medium (6kV-60kV)
High (60kV- 110kV)
Extra High (110kV-380kV)
Ultra-high (Above 380kV)
GSA Electricity Transmission & Distribution EPC Market, by Installation
Overhead (Transmission and Distribution)
Underground (Transmission and Distribution)
GSA Electricity Transmission & Distribution EPC Market, by Service
Engineering
Procurement
Construction
GSA Electricity Transmission & Distribution EPC Market, by Component
Towers
Cables
Transformers
Switchgears
Insulators
Others (Including Controller)
GSA Electricity Transmission & Distribution EPC Market, by Country
Germany
Switzerland
Austria
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