Press release
Electricity Transmission and Distribution Market worth USD 375.99 Billion by 2029 : Cognitive Market Research
Electricity Transmission and Distribution Market worth USD 375.99 Billion by 2029 : Cognitive Market Research
Read Full Report with Table of Contents :
@-https://www.cognitivemarketresearch.com/electricity-transmission-and-distribution-market-report
Electricity generation, transmission and distribution are three important stages of any power system. Electric power transmission is the bulk movement of electrical energy from a generating site such as power plant to an electric substation. The interconnected lines which facilitate this movement are refer as a transmission network. Electricity transmission power plants and substations are generally are closer to the end users. Electricity transmission is typically done at high voltages (e.g., 100 kV or higher) in order to reduce transmission losses over long distances. The electricity is transmitted through a network of transmission lines and towers that are supported by poles or towers. Electric power distribution is the final stage in the delivery of electric power; it carries electricity from the transmission system i.e., substations to individual consumers. Electricity distribution is typically done at lower voltages (e.g., 11 kV or lower) in order to be safe for use in homes and businesses, improve reliability, and increase efficiency. The electricity is distributed through a network of distribution lines and transformers that are mounted on poles or underground.
Market Dynamics:
• As populations and economies grow, there is an increasing demand for electricity. This is leading to the expansion of transmission and distribution networks to meet this demand. This is the primary factor driving the growth of the electricity transmission and distribution market. Furthermore, shift towards renewable energy sources such as solar and wind power has led to a decentralization of electricity generation. This has led to an increase in the need for transmission and distribution networks to connect these distributed generation sources to the grid. Many countries are modernizing their electricity grids to make them more efficient and resilient. This includes the deployment of advanced metering infrastructure, smart grids, and other technologies that can improve the transmission and distribution of electricity. For instance, in 2015, National Smart Grid Mission has been established by Govt. of India to accelerate Smart Grid deployment in the country. Government policies and regulations play a significant role in shaping the electricity transmission and distribution market. For example, incentives for renewable energy and requirements for grid modernization can influence the direction of the market.
• Recently in Oct 2022, U.S. Treasury announced a clean energy tax credit. Similarly, UK government announced to offer USD 321.79 million in subsidies for renewable energy developers. Despite the high demand and well-established industry, the electricity transmission and distribution market faced multiple challenges including high capital cost of construction and maintenance, heavily regulated industry etc., might affect the growth negatively. The transmission and distribution of electricity can have environmental impacts, such as the use of fossil fuels for electricity generation and the construction of transmission and distribution infrastructure. In order to reduce environmental impact, companies involved in this market are taking measures. For instance, in September 2015, Siemens has been the first global industrial company to commit towards carbon neutrality by 2030
Regional Analysis of Electricity Transmission and Distribution Market:
• Geographically, the global market is divided into North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. North America dominated the market in 2021 due to the one of the most developed regions worldwide coupled with high rate of urbanization in the countries like U.S. Asia Pacific is expected to grow at the highest growth rate due to the immense industrial development in emerging economies such as China and India.
Top players involved in the Electricity Transmission and Distribution market:
- Major players involved in the market includes
• Siemens
• ARTECHE
• Europower Energie B.V.
• Eltel Networks
• GENERAL ELECTRIC
• Renewable Energy Systems Ltd.
• Bechtel Corporation
• ABB
• Mitsubishi Electric Corporation
• Hartek Group
• STEAG GMBH
• Reliance Infrastructure Limited
• L&T Construction
• Intertek
• TUV SUD
• SG
• Bureau Veritas
• Dekra.
Current Trends of Manufacturers:
• Apr 20, 2022
Siemens Energy has launched CAREPOLE, an innovative dry-type single-phase transformer for pole applications.
• February 8, 2022
ABB India has launched a new series of electrical measuring and power monitoring meters for the digital panel meter.
Segment Analysis:
• On The Basis Of Equipment Segment, the market is segmented into different types including wire & cable, transformer, electric meter, switchgear, insulator & capacitor and others. Switchgear, wire & cable, transformer is some of the key equipment's necessary in electricity transmission and distribution and together acquired major share of the total market.
• Based On The Service Segment, the market is categorised into various services including testing, field testing, terminations development, asset health monitoring, and others. Due to the safety concerns, testing segments holds the significant share of the total market.
• Based On End-User, the market is been segmented into utility, industrial residential and commercial. Industrial application accounts for a major share in the market owing to the high demand from various factories, warehouses, and other industrial facilities.
Related Report:
• Electric Power Transmission and Distribution Equipment Market - https://www.cognitivemarketresearch.com/electric-power-transmission-and-distribution-equipment-market-report
• Smart Meters Market - https://www.cognitivemarketresearch.com/smart-meters-market-report
• Power Transformers Market - https://www.cognitivemarketresearch.com/power-transformers-market-report
• Switchgear Market - https://www.cognitivemarketresearch.com/switchgear-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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