Future of the Electric Power Transmission, Control, And Distribution Market: Trends, Innovations, and Key Forecasts Through 2034

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Electric Power Transmission, Control, And Distribution Market Size Growth Forecast: What to Expect by 2025?
The market size for electric power transmission, control, and distribution has shown significant growth in the recent past. The market value is expected to increase from $3095.08 billion in 2024 to $3294.94 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.5%. This augmentation in the previous period can be credited to electrification, growth in population, urban expansion, industrial development, and modernization of the grid.

How Will the Electric Power Transmission, Control, And Distribution Market Size Evolve and Grow by 2029?
The market size for electric power transmission, control, and distribution is predicted to experience significant expansion in the coming years, reaching $4106.59 billion by 2029, with a compound annual growth rate (CAGR) of 5.7%. This surge in the forecast period is credited to various factors such as the integration of renewable energy, energy storage, transportation electrification, grid resilience and security, and decentralisation. The forecast period is also expected to highlight trends such as smart grids, distributed energy resources (ders), grid digitisation, electrification of heating and cooling systems, resilience, and microgrid advancements.

View the full report here:
https://www.thebusinessresearchcompany.com/report/electric-power-transmission-control-and-distribution-global-market-report

What Drivers Are Propelling the Growth of Electric Power Transmission, Control, And Distribution Market Forward?
The expected rise in electricity demand is linked to its expanding usage in the transportation sector, which propels the electric power transmission, control, and distribution market. The notion of using electricity as a core energy source for vehicles and infrastructure in the transportation sector boosts the development of sustainable and energy-efficient mobility solutions. The continual advancements in battery tech, governmental incentives, urgent need for cutting down carbon emissions, and significant investments in the infrastructure of electric vehicles underpin the growth of electrical applications in the transportation sector. The functioning of electric power transmission, control, and distribution provide an efficient way to deliver and control electricity, ensuring the stability of power supply and grid reliability for the burgeoning electric transit systems. For instance, the International Council on Clean Transportation, a non-profit organization based in the US, confirmed in January 2024, that since the third quarter of 2021, sales of electric vehicles (EVs) have maintained a steady growth, with their proportion of total light-duty vehicle sales increasing from nearly 3% in the first quarter of 2021 to over 10% by the third quarter of 2023. Consequently, the emerging applications of electricity in the transportation industry will additionally endorse the electric power transmission, control, and distribution market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5465&type=smp

Which Emerging Trends Are Transforming the Electric Power Transmission, Control, And Distribution Market in 2025?
The transformation of utility business models is underway, shifting from conventional electricity production models to novel ones, such as distributed generation models, in an effort to reduce costs and enhance transmission and distribution efficacy. The term "distributed generation" is used to refer to the generation of power close to its consumption point utilizing solar panels and similar inexpensive technologies. There is a growing trend among consumers to transition to distributed generations networks, which offer cost-efficiency and greater control. As a result, it is time for electric power generation companies to redirect their focus towards distributed generation, moving away from the centralized electricity generation model. Many companies have also begun to rely on innovative revenue models and incentives as opposed to the conventional cost-of-service models. For example, the (Reforming Energy Vision) REV docket in New York is centered around distributed generation and performance-based incentives, motivating utilities to cater to grid requirements. Electric utilities in states such as California, Minnesota, and Massachusetts are also participating in the REV initiative. The IEA's semi-annual Power Market Report illustrates an approximately 5% rise in global electricity demand in 2021, which is predicted to grow by another 4% in 2022, due to the global economic resurgence.

What Are the Key Segments in the Electric Power Transmission, Control, And Distribution Market?
The electric power transmission, control, and distribution market covered in this report is segmented -

1) By Type: Electric Power Distribution, Electric Bulk Power Transmission And Control
2) By Distribution Channel: Online, Offline
3) By Application: Government, Commercial, Residential

Subsegments:
1) By Electric Power Distribution: Low-Voltage Distribution, Medium-Voltage Distribution, High-Voltage Distribution
2) By Electric Bulk Power Transmission And Control: High-Voltage Transmission, Substations, Transmission Lines, Grid Control Systems, Voltage Regulators, Switchgear And Protection Systems

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=5465&type=smp

Who Are the Key Players Shaping the Electric Power Transmission, Control, And Distribution Market's Competitive Landscape?
Major companies operating in the electric power transmission, control, and distribution market include Tokyo Electric Power Co Holdings Incorporated, Korea Electric Power Corporation, Iberdrola SA, Electricite De France SA, E.ON SE, American Electric Power Co Inc., Ameren Corporation, American Transmission Co, Avangrid Inc., Berkshire Hathaway Inc., Black & Veatch Corp, Schneider Electric SE, Burns & Mcdonnell Engineering India Private Ltd., Dominion Energy Inc., Duke Energy Corporation, Southern California Edison Company, Engie SA, Exelon Corporation, Great Southwestern Construction Inc., R. & J Electric LLC, National Grid Plc, NextEra Energy Inc., NRG Energy Inc., Oncor Inc., Pacific Gas and Electric Company, PAR Electrical Contractors LLC., PPL Electric Utilities Corporation, Power Engineers Company, Power Consulting Associates LLC, Quanta Services Inc., Sargent & Lundy LLC, Southwestern Public Service Company, Tennessee Valley Authority, Western Area Power Administration Company.

What Geographic Markets Are Powering Growth in the Electric Power Transmission, Control, And Distribution Market?
Asia-Pacific was the largest region in the electric power transmission, control, and distribution market in 2023. Western Europe was the second largest region in the electric power transmission, control, and distribution market. The regions covered in the electric power transmission, control, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5465

"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.