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Surge in Power Generation, Transmission, and Control Equipment Market: From $541.24 Billion in 2024 to $679.7 Billion by 2029
Power Generation, Transmission And Control Equipment Market Size
What Is The Projected Market Size Of The Global Power Generation, Transmission And Control Equipment Global Market Report 2025 And Its Growth Rate?
• The market grew from $541.24 billion in 2024 to an estimated $571.12 billion in 2025, marking a CAGR of 5.5%.
• Growth factors include increased industrialization, grid expansion, rural electrification programs, nuclear power development, and government incentives.
• The market is projected to reach $679.7 billion in 2029 at a compound annual growth rate (CAGR) of 4.4%
• This anticipated growth is connected to rising decentralized energy systems, augmented electric vehicle charging infrastructure, resilience planning, economic growth, and the demand for smart appliances.
What Is Driving The Growth In The Power Generation, Transmission And Control Equipment Global Market Report 2025?
A key driver for the growth of the power generation, transmission, and control equipment market is the escalating demand for electricity. Increasing electricity demand spurs innovation, leads to the development of more advanced and efficient technologies, and bolsters research and development efforts for improving the efficiency and reliability of power generation, transmission, and control equipment. For instance, Exxon Mobil Corporation, a US-based natural gas company, predicted in August 2023 that electricity demand would rise by 1.8%-year, accounting for roughly 50% of this industry by 2050.
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Who Are the Key Players Driving Power Generation, Transmission And Control Equipment Global Market Report 2025 Growth?
Key players in the market include:
• Hitachi Ltd.
• Siemens AG
• General Electric Company
• Caterpillar Inc.
• Schneider Electric SE
• Mitsubishi Electric Corp.
• Honeywell International Inc.
• Mitsubishi Heavy Industries Ltd.
• ABB Ltd.
• Toshiba Corporation
• Cummins Inc.
• Eaton Corporation
• Larsen & Toubro Limited
• Alstom SA
• Nidec Corp.
• Rolls-Royce Holdings plc
• Emerson Electric Co.
• Kawasaki Heavy Industries Ltd.
• Rockwell Automation Inc.
• Fuji Electric Co. Ltd.
• Wärtsilä Corporation
• Bharat Heavy Electricals Limited
• Bharat Electronics Limited
• Crompton Greaves Ltd.
• Doosan Heavy Industries & Construction Co. Ltd.
What Are The Key Trends In The Power Generation, Transmission And Control Equipment Global Market Report 2025?
Key trends include:
• Digitalization and industry 4.0
• Cybersecurity for critical infrastructure
• Hybrid power systems
• Use of artificial intelligence (AI) in grid management
• Carbon capture and storages
What Are The Segments Of The Global Power Generation, Transmission And Control Equipment Global Market Report 2025?
The market is segmented by:
• Type: Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls
• Application: Residential, Commercial, Automotive, Other Applications
• End User Sector: Private, Public
Which Region Leads The Power Generation, Transmission And Control Equipment Global Market Report 2025?
Asia-Pacific was the largest region in the power generation, transmission, and control equipment market in 2024, closely followed by Western Europe. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Power Generation, Transmission And Control Equipment Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Power Generation, Transmission And Control Equipment Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Power Generation, Transmission And Control Equipment Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Power Generation, Transmission And Control Equipment Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Power Generation, Transmission And Control Equipment Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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