Press release
Transmission & Distribution Market Innovative Strategy by 2031 | Siemens, ARTECHE, Europower Energie B.V., Etc
Transparency Market Research delivers key insights on the global transmission & distribution market. In terms of revenue, the global transmission & distribution market is estimated to expand at a CAGR of 4.11% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global transmission & distribution.
Efficient long-distance transmission of electric power requires high voltages. This reduces the losses produced by heavy current. Transmission lines mostly use high-voltage AC; however, an important class of transmission line uses high voltage direct current. The voltage level changes with transformers, stepping up the voltage for transmission and subsequently, reducing voltage for local distribution and use by customers.
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Industrialization and urbanization have increased significantly across all the world. This has boosted the demand for electricity. More than 3.8 trillion kW per hour of electricity was consumed in the U.S. in 2020.The demand for electricity is expected to continue to rise across the globe during the forecast period. Governments and various companies are investing significantly in infrastructure to develop smart cities. This, coupled with increase in disposable income of consumers, is expected to propel the demand for electricity in the near future.
Transmission & Distribution Market: Prominent Regions
The renewable energy generation capacity of North America is anticipated to increase in the near future, owing to high customer willingness to adopt renewable energy in view of the rise in stringent environment-related regulations and growth in pressure to minimize energy consumption from buildings to reduce CO2 emissions. Currently, numerous renewable energy projects are in the pipeline in the U.S. Significant investments are being made in solar energy projects in the country.
The U.S. has the largest production capacity of renewable energy in North America. Furthermore, investments in renewable energy projects by private players have been rising in the country due to government initiatives and increased awareness about renewable energy. This is likely to propel the transmission & distribution market in North America.
Europe is one of the key regions in the global transmission & distribution market. This can be ascribed to rise in investments toward development of clean technologies such as solar and wind for power generation in the region. The Renewable Energy Directive of the European Union establishes an overall policy for production and promotion of energy from renewable resources in the European Union (EU). Germany was the leading country of the transmission & distribution market in Europe in 2020. France is another lucrative country in the transmission & distribution market in Europe.
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Asia Pacific is the dominant region of the global transmission & distribution market. This can be ascribed to the high demand for electricity in China, India, and Japan. Thus, they are investing significantly in power transmission and distribution across the region. Increase in demand for electricity, primarily in rural areas, and rise in investments by grid operators in designing of electrical grids are expected to boost the transmission & distribution market in the region. Moreover, steady economic growth, rapid urbanization, and improvement in standard of living are some of the key factors boosting the demand for electricity in Asia Pacific.
Transmission & Distribution Market: Key Players
Key players operating in the global transmission & distribution market include Siemens, ARTECHE, Europower Energie B.V., Eltel Networks, GENERAL ELECTRIC, Renewable Energy Systems Ltd. Bechtel Corporation, ABB, Mitsubishi Electric, Hartek Group., STEAG GMBH, Reliance Infrastructure Limited, L&T Construction, Intertek, TUV SUD, SGS, Bureau Veritas, and Dekra.
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Global Transmission & Distribution Market: Segmentation
Transmission & Distribution Market: Type
Equipment
Wire & Cable
Transformer
Electric Meter
Switchgear
Insulator & Capacitor
Others
Services
Testing
Field Testing
Terminations Development
Asset Health Monitoring
Others
Transmission & Distribution Market: End-user
Utility
Industrial
Residential & Commercial
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Transmission & Distribution Market: Overview
According to Transparency Market Research's latest research report on the global transmission & distribution market for the forecast period of 2021 to 2031, increase in industrialization and urbanization is expected to boost the global transmission & distribution market during the forecast period
Industrialization and urbanization have increased significantly across the globe. This has boosted the demand for electricity in the world. Global demand for electricity is expected to increase at 2.1% per year to 2031, twice the rate of the primary energy demand. Thus, demand for transmission and distribution infrastructure is likely to increase.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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