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Key Trend Reshaping the Power Generation, Transmission And Control Equipment Market in 2025: ABB Launches High-Efficiency IE5 SynRM Liquid-Cooled Motors, Pioneering Innovation in Power Generation and Control Equipment Marke
Power Generation, Transmission And Control Equipment
The escalating requirement for electricity is likely to fuel the expansion of the market for power generation, transmission, and control equipment in the future. Electricity, an energy form that results from charged particles' existence such as electrons or protons, attracts investments and fosters innovation due to its increasing demand. It stimulates the creation of more efficient and sophisticated technologies and promotes further research and development pursuits to enhance the efficiency and reliability of power generation, transmission and control equipment. As an illustration, Exxon Mobil Corporation, an American natural gas entity, predicted in August 2023 that the demand for electricity would see a 1.8% yearly boost, representing approximately half of this sector by 2050. Hence, the growing demand for electricity is driving the growth of the power generation, transmission, and control equipment sector.
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What is the future CAGR of the power generation, transmission and control equipment market, and how will it impact industry expansion?
The market size for power generation, transmission and control equipment has seen significant growth in the past few years. The market is expected to expand from $541.24 billion in 2024 to $571.12 billion in 2025, signifying a compound annual growth rate (CAGR) of 5.5%. The positive growth during the historical period can be credited to factors such as increased industrialization, the expansion of power grids, initiatives for rural electrification, the evolution of nuclear power, and government incentives.
The market size for equipment pertaining to power generation, transmission, and control is anticipated to experience consistent growth over the coming years. It's projected to increase to $679.7 billion by 2029, with a compound annual growth rate (CAGR) of 4.4%. Factors contributing to the forecasted growth include expansion of decentralized energy systems, the infrastructure for electric vehicle charging, resilience planning, economic growth, and rising demand for smart appliances. The forecast period is expected to witness significant trends such as digitalization, industry 4.0, critical infrastructure cybersecurity, hybrid power systems, the utilization of artificial intelligence (AI) in grid management, and carbon capture and storages.
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What are the most significant trends transforming the power generation, transmission and control equipment market today?
Significant players in the power generation, transmission, and control equipment industry are concentrating on the production of inventive products like liquid-cooled motors. These motors manage their temperature by utilizing flowing liquid to avoid overheating, thus enhancing performance by releasing extra heat via a cooling system. For instance, in February 2024, Swiss automation company ABB Ltd. introduced the IE5 SynRM motor. The IE5 SynRM Liquid-cooled motors combine the ultra-efficient SynRM technology with high-performance liquid cooling, providing compact and robust solutions that reduce energy and upkeep expenses, rendering them a perfect replacement for older induction motors.
Which key market segments comprise the power generation, transmission and control equipment market and drive its revenue growth?
The power generation, transmission and control equipment market covered in this report is segmented -
1) By Type: Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls
2) By Application: Residential, Commercial, Automotive, Other Applications
3) By End User Sector: Private, Public
Subsegments:
1) By Transformer: Power Transformer, Distribution Transformer, Instrument Transformer
2) By Electric Motor And Generator: AC Motors, DC Motors, Synchronous Generators, Asynchronous Generators
3) By Switchgear And Switchboard Apparatus: High Voltage Switchgear, Low Voltage Switchgear, Circuit Breakers, Disconnect Switches
4) By Relay And Industrial Controls: Electromechanical Relays, Solid State Relays, Programmable Logic Controllers (PLCs), Control Panels
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What regions are at the forefront of power generation, transmission and control equipment market expansion?
Asia-Pacific was the largest region in the power generation, transmission and control equipment market in 2024. Western Europe was the second largest region in the power generation, transmission and control equipment market. The regions covered in the power generation, transmission and control equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the power generation, transmission and control equipment market?
Major companies operating in the power generation, transmission and control equipment 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.
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What Is Covered In The Power Generation, Transmission And Control Equipment Global Market Report?
•Market Size Forecast: Examine the power generation, transmission and control equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power generation, transmission and control equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the power generation, transmission and control equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power generation, transmission and control equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power generation, transmission and control equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power generation, transmission and control equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the power generation, transmission and control equipment market.
•Competitive Landscape: Review strategic developments in the power generation, transmission and control equipment market, including expansions, agreements, and new product launches.
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