Press release
Electric Power Transmission and Distribution Equipment Market 2023 Global Analysis by Equipment, Voltage, End User, Region and Competitive Landscape (Mitsubishi Electric Corp., Schneider Electric, ABB)
"Electric Power Transmission and Distribution Equipment Market"
Electric power transmission and distribution equipment are essential components of the electrical grid that facilitate the efficient and safe transfer of electricity from power plants to consumers. These systems are responsible for transmitting high-voltage electricity over long distances and then stepping it down to lower voltages for distribution to homes, businesses and industries.
The Electric Power Transmission and Distribution Equipment market size was estimated at USD 228.68 billion in 2023 and is projected to reach USD 339.33 billion in 2030 at a CAGR of 5.80% during the forecast period 2023-2030.
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Key components that are commonly found in electric power transmission and distribution systems are transformers, transmission lines, substations, circuit breakers, switchgear, distribution lines, capacitors and reactors, power meters, protective relays and lightning arresters. The growth of the market is being driven by the increasing demand for electricity, the need to upgrade the existing transmission and distribution infrastructure and the rising investments in smart grids.
The proper functioning and maintenance of these power transmission and distribution equipment are crucial for ensuring a reliable and efficient supply of electricity to meet the demands of modern society. Additionally, advancements in technology and the integration of smart grid technologies are continuously improving the performance and monitoring of these systems.
The prominent players in the Electric Power Transmission and Distribution Equipment market are
Mitsubishi Electric Corp.
Hyundai Electric & Energy Systems Co., Ltd.
Schneider Electric
Xian XD Switchgear Electric
General Electric
Imefy Group
Crompton Greaves
ABB
IGUS
Siemens AG
Eaton
Wilson Transformer Company Pty Ltd.
Toshiba Energy Systems & Solutions Corporation
SGB-SMIT Group
S&C Electric Company Inc.
Prysmian Group
Pioneer Power Solutions, Inc.
Larsen & Toubro Limited
KONCAR Electric Industry Inc
JiangSu HuaPeng Transformer Co., Ltd. (JSHP)
Recent Developments
In April 2023, Nexans announced completely acquired the Finnish, high, medium and low voltage cables manufacturer, Reka Cables. The acquisition works on ambition of Nexan to become a pure electrification player committed to contribute to carbon neutrality by 2030, focusing on the overall value chain.
In May 2023, the first and biggest battery energy storage from TotalEnergies was introduced in Europe. The project, which is expected to be online by the end of next year, will get 40 Intensium Max High Energy lithium-ion containers from TotalEnergies battery subsidiary Saft.
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Scope of the Report:
The Electric Power Transmission and Distribution Equipment Market is segmented into various segments such as Equipment, Voltage, End User and region:
Based on Equipment, the Electric Power Transmission and Distribution Equipment Market is segmented into:
Wire Cable
Switchgear
Transformer
Meter
Insulator Capacitor
Based on the Voltage, the Electric Power Transmission and Distribution Equipment Market is segmented into:
Low Voltage
Medium Voltage
High Voltage
Based on the End User, the Electric Power Transmission and Distribution Equipment Market is segmented into:
Energy Utilities
Industrial
Commercial
Residential
Based on region, the Electric Power Transmission and Distribution Equipment Market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
Reasons to Acquire
Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
Gain authentic and granular data access for the Electric Power Transmission and Distribution Equipment Market to understand the trends and the factors involved in changing market situations.
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Delvens Industry Expert's Standpoint
Due to increasing demand for electricity, rapid industrialization and commercialization in developing countries, the demand for electric transmission and distribution market is increasing. The increase can also be attributed to the need to upgrade the existing transmission and distribution infrastructure which in turn has increased the investments in smart grids. However, there is a need to tackle the issue of high cost of installation of these equipment which is hampering the growth of the market.
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