Lucintel Forecasts Electric Power Transmission and Distribution Equipment Market to Reach $381 Billion by 2027

According to the recent study the electric power transmission and distribution equipment market is projected to reach an estimated $381 billion by 2027 from $278 billion in 2021, at a CAGR of 5.4% from 2021 to 2027. Growth in this market is primarily driven by increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.
Browse 135 figures / charts and 115 tables in this 190 -page report to understand trends, opportunities and forecast in electric power transmission and distribution equipment market by product (wires and cables, switchgears, transformers, meters, insulators, and capacitors), voltage type (low voltage, medium voltage, and high voltage), end use (utilities, industrial, residential, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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"Wire and cable market is expected to remain the largest segment during the forecast period."
Based on product type, the electric power transmission and distribution equipment market is segmented into wires and cables, switchgears, transformers, meters, insulators, and capacitors. Lucintel forecasts that the wires and cables is expected to witness the largest segment due to increasing electricity access to residential and commercial buildings and transformer segment is expected to witness the highest growth over the forecast period, supported by government spending in electrical infrastructure and growth in housing demand in emerging markets.
"Within the electric power transmission and distribution equipment market, the utilities segment is expected to remain the largest end use industry"
Based on end use industry, the utilities segment is expected to witness the largest segment due to the replacement and upgradation of existing infrastructure and increasing focus on renewable energy and residential end use segment is likely to experience the highest growth over the forecast period, supported by growth in low voltage equipment, including cables and switchgears.
"Asia Pacific will dominate the electric power transmission and distribution equipment market in near future"
Asia Pacific is expected to be the largest region with the highest growth over the forecast period because of growth in construction activities, increasing electric access, urbanization, and rapid industrialization.
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Major players of electric power transmission and distribution equipment market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ABB, Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Xian XD Switchgear Electric, and Crompton Greaves are among the major electric power transmission and distribution equipment providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-transmission-and-distribution-equipment-market.aspx or helpdesk@lucintel.com
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