Electric Power Transmission Equipment Market Latest Trends, Segmentation Insights and Forecast Analysis 2025 to 2031

Market Summary -

The global market for Electric Power Transmission Equipment was estimated to be worth US$ 23.09 billion in 2024 and is forecast to a readjusted size of US$ 29.10 billion by 2031 with a CAGR of 3.3% during the forecast period 2025-2031.

Accourding to QY Research has released a new publication titled "Global Electric Power Transmission Equipment Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031." This comprehensive study provides an in-depth evaluation of the worldwide Electric Power Transmission Equipment industry, uncovering the major forces influencing market growth and delivering high-value insights for investors, industry leaders, and strategic decision-makers. The report examines critical elements such as market dynamics, evolving technologies, segmentation trends, regional developments, and the competitive landscape. With data backed by rigorous research and expert interpretation, it offers an authoritative guide to understanding the macroeconomic and microeconomic factors reshaping the global market.

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The Electric Power Transmission Equipment industry can be broken down into several segments, Transformers, Switchgear, etc. Transmission of electric power is transfer of bulk electrical energy to substations from power generating plants. Electrical transmission is distinct from electrical distribution, in terms of carrying large quantities of high voltage power over large distances; thus there are differences in the equipment used for each. In this report, products demanded are transformers and switchgear and many other products. Unlike electrical distribution equipment, which operates at lower voltages and closer to end-users, Electric Power Transmission Equipment is built to ensure the stability, safety, and continuity of power transmission within the grid infrastructure.

The leading players of Electric Power Transmission Equipment including Hitachi (ABB), Siemens, GE, Schneider Electric and Eaton, etc. The top 5 players accounts for about 55% of global market value.

Recent Developments -

The authors of the report have put forward recent developments by key participants. Other strategic activities by manufacturers such as M&A, joint ventures, collaborations, innovation, product offerings, and research and development activities are highlighted in this research study. This will keep the users up-to-date about the undertakings and give the users a crystal-clear understanding of the key advancements emerging in the business.

Market Drivers & Challenges -

The global market for Electric Power Transmission Equipment is witnessing steady growth, driven by the rising demand for reliable electricity distribution across residential, industrial, and utility sectors. Among the product segments, switchgears stand out as the dominant category, accounting for approximately 40% of the global market share in 2024. Switchgears play a crucial role in ensuring operational safety, system control, and uninterrupted power flow, making them a critical component in modern transmission and distribution infrastructure. Transformers and other associated devices continue to complement this ecosystem, providing voltage regulation and support for stable energy delivery.

In terms of application, residential use leads the global market with a significant share of around 65% in 2024. This dominance is largely fueled by urbanization, infrastructure development, and the continuous need for dependable electricity in homes, apartments, and residential complexes. Applications in fossil fuel-fired power generation and renewable energy are also contributing to market expansion, supported by global efforts toward energy transition and grid modernization.

The Asia-Pacific region emerges as the largest consumer market, commanding about 43% of the global consumption. This leadership is propelled by rapid industrialization, population growth, and large-scale investments in power infrastructure in countries such as China, India, and Southeast Asian nations.

The market is being driven by several key factors. Increasing global electricity demand, coupled with rising investment in grid infrastructure modernization, is fostering the growth of Electric Power Transmission Equipment. The shift toward renewable energy sources requires new transmission solutions, further boosting product demand. Urban development and electrification in emerging economies continue to create favorable conditions for market expansion. Additionally, technological advancements in switchgear and transformer designs are making systems more efficient, safer, and compact, which aligns well with modern grid requirements.

However, the market faces notable restraints. High initial investment costs for transmission equipment installation and grid upgrades can be a barrier, particularly in developing regions with limited budgets. Complex regulatory frameworks and approval processes for energy projects may delay infrastructure deployment. Additionally, fluctuations in raw material prices and supply chain uncertainties, especially for specialized electrical components, can affect production and delivery timelines. These factors pose challenges to consistent growth and may require strategic planning and investment balancing by stakeholders.

Market Segmentation and Regional -

By Type

Transformers
Switchgear
Others

By Application

Fossil Fuel Fired Power
Renewable Energy
Others

Regional Analysis -

✔ North America (U.S., Canada, China)
✔ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
✔ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)
✔ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

The analysis spans from 2024 (base year) to 2031 (forecast period).

Major Company Included: -

Hitachi (ABB)
Siemens
GE
Schneider Electric
Eaton
BHEL
TBEA
HYOSUNG
China XD Group
Mitsubishi Electric
Toshiba
Crompton Greaves
Prolec GE (SPX Transformer Solutions)
Fuji Electric
Shanghai Electric
Baoding Tianwei

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Why should you purchase this report?

Purchasing this report provides you with a comprehensive and data-driven understanding of the market landscape, enabling informed business decisions and strategic planning. The report comes with free customization based on client requirements, including a country-level breakdown of any five countries of your choice and a competitive analysis of segment revenue by key market players. With detailed insights into market trends, growth drivers, challenges, competitive dynamics, and emerging opportunities, this report equips stakeholders, manufacturers, and investors with actionable intelligence to identify profitable prospects, optimize operations, and maintain a competitive edge in the industry.

How Can the Research Study Help your Business?

✔ The information presented in the Electric Power Transmission Equipment report helps your decision makers to become prudent and make the best business choices.
✔ The report enables you to see the future of the global Electric Power Transmission Equipment market and accordingly take decisions that will be in the best interest of your business.
✔ It offers you a forward-looking perspective of the global Electric Power Transmission Equipment market drivers and how you can secure significant market gains in the near future.
✔ It provides SWOT analysis of the global Electric Power Transmission Equipment market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.
✔ It also assesses the changing competitive dynamics of the global Electric Power Transmission Equipment market using pin-point evaluation.

Key Questions Answered in the Report -

✔ What is the size and estimated growth rate of the global and regional Electric Power Transmission Equipment market?
✔ Which countries are expected to display the strongest growth?
✔ Which region will dominate the market throughout the forecast period?
✔ What are the main factors driving or restraining market expansion?
✔ What technological advancements are shaping future demand?
✔ Where are the key opportunities for new entrants and established players?
✔ Which companies currently hold the highest market share?
✔ How will market dynamics evolve from 2025 to 2031?

Table of Contents - Major Key Points:

1 Market Overview
1.1 Electric Power Transmission Equipment Product Introduction
1.2 Global Electric Power Transmission Equipment Market Size Forecast (2020-2031)
1.3 Electric Power Transmission Equipment Market Trends & Drivers
1.3.1 Electric Power Transmission Equipment Industry Trends
1.3.2 Electric Power Transmission Equipment Market Drivers & Opportunity
1.3.3 Electric Power Transmission Equipment Market Challenges
1.3.4 Electric Power Transmission Equipment Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Electric Power Transmission Equipment Players Revenue Ranking (2024)
2.2 Global Electric Power Transmission Equipment Revenue by Company (2020-2025)
2.3 Key Companies Electric Power Transmission Equipment Manufacturing Base Distribution and Headquarters
2.4 Key Companies Electric Power Transmission Equipment Product Offered
2.5 Key Companies Time to Begin Mass Production of Electric Power Transmission Equipment
2.6 Electric Power Transmission Equipment Market Competitive Analysis
2.6.1 Electric Power Transmission Equipment Market Concentration Rate (2020-2025)
2.6.2 Global 5 and 10 Largest Companies by Electric Power Transmission Equipment Revenue in 2024
2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Electric Power Transmission Equipment as of 2024)
2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Transformers
3.1.2 Switchgear
3.1.3 Others
3.2 Global Electric Power Transmission Equipment Sales Value by Type
3.2.1 Global Electric Power Transmission Equipment Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Electric Power Transmission Equipment Sales Value, by Type (2020-2031)
3.2.3 Global Electric Power Transmission Equipment Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Fossil Fuel Fired Power
4.1.2 Renewable Energy
4.1.3 Others
4.2 Global Electric Power Transmission Equipment Sales Value by Application
4.2.1 Global Electric Power Transmission Equipment Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Electric Power Transmission Equipment Sales Value, by Application (2020-2031)
4.2.3 Global Electric Power Transmission Equipment Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
5.1 Global Electric Power Transmission Equipment Sales Value by Region
5.1.1 Global Electric Power Transmission Equipment Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Electric Power Transmission Equipment Sales Value by Region (2020-2025)
5.1.3 Global Electric Power Transmission Equipment Sales Value by Region (2026-2031)
5.1.4 Global Electric Power Transmission Equipment Sales Value by Region (%), (2020-2031)
5.2 North America
5.2.1 North America Electric Power Transmission Equipment Sales Value, 2020-2031
5.2.2 North America Electric Power Transmission Equipment Sales Value by Country (%), 2024 VS 2031
5.3 Europe
5.3.1 Europe Electric Power Transmission Equipment Sales Value, 2020-2031
5.3.2 Europe Electric Power Transmission Equipment Sales Value by Country (%), 2024 VS 2031
5.4 Asia Pacific
5.4.1 Asia Pacific Electric Power Transmission Equipment Sales Value, 2020-2031
5.4.2 Asia Pacific Electric Power Transmission Equipment Sales Value by Region (%), 2024 VS 2031
5.5 South America
5.5.1 South America Electric Power Transmission Equipment Sales Value, 2020-2031
5.5.2 South America Electric Power Transmission Equipment Sales Value by Country (%), 2024 VS 2031
5.6 Middle East & Africa
5.6.1 Middle East & Africa Electric Power Transmission Equipment Sales Value, 2020-2031
5.6.2 Middle East & Africa Electric Power Transmission Equipment Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Electric Power Transmission Equipment Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Electric Power Transmission Equipment Sales Value, 2020-2031
6.3 United States
6.3.1 United States Electric Power Transmission Equipment Sales Value, 2020-2031
6.3.2 United States Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Electric Power Transmission Equipment Sales Value, 2020-2031
6.4.2 Europe Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Electric Power Transmission Equipment Sales Value, 2020-2031
6.5.2 China Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.5.3 China Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Electric Power Transmission Equipment Sales Value, 2020-2031
6.6.2 Japan Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Electric Power Transmission Equipment Sales Value, 2020-2031
6.7.2 South Korea Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Electric Power Transmission Equipment Sales Value, 2020-2031
6.8.2 Southeast Asia Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Electric Power Transmission Equipment Sales Value, 2020-2031
6.9.2 India Electric Power Transmission Equipment Sales Value by Type (%), 2024 VS 2031
6.9.3 India Electric Power Transmission Equipment Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Hitachi (ABB)
7.1.1 Hitachi (ABB) Profile
7.1.2 Hitachi (ABB) Main Business
7.1.3 Hitachi (ABB) Electric Power Transmission Equipment Products, Services and Solutions
7.1.4 Hitachi (ABB) Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.1.5 Hitachi (ABB) Recent Developments
7.2 Siemens
7.2.1 Siemens Profile
7.2.2 Siemens Main Business
7.2.3 Siemens Electric Power Transmission Equipment Products, Services and Solutions
7.2.4 Siemens Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.2.5 Siemens Recent Developments
7.3 GE
7.3.1 GE Profile
7.3.2 GE Main Business
7.3.3 GE Electric Power Transmission Equipment Products, Services and Solutions
7.3.4 GE Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.3.5 GE Recent Developments
7.4 Schneider Electric
7.4.1 Schneider Electric Profile
7.4.2 Schneider Electric Main Business
7.4.3 Schneider Electric Electric Power Transmission Equipment Products, Services and Solutions
7.4.4 Schneider Electric Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.4.5 Schneider Electric Recent Developments
7.5 Eaton
7.5.1 Eaton Profile
7.5.2 Eaton Main Business
7.5.3 Eaton Electric Power Transmission Equipment Products, Services and Solutions
7.5.4 Eaton Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.5.5 Eaton Recent Developments
7.6 BHEL
7.6.1 BHEL Profile
7.6.2 BHEL Main Business
7.6.3 BHEL Electric Power Transmission Equipment Products, Services and Solutions
7.6.4 BHEL Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.6.5 BHEL Recent Developments
7.7 TBEA
7.7.1 TBEA Profile
7.7.2 TBEA Main Business
7.7.3 TBEA Electric Power Transmission Equipment Products, Services and Solutions
7.7.4 TBEA Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.7.5 TBEA Recent Developments
7.8 HYOSUNG
7.8.1 HYOSUNG Profile
7.8.2 HYOSUNG Main Business
7.8.3 HYOSUNG Electric Power Transmission Equipment Products, Services and Solutions
7.8.4 HYOSUNG Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.8.5 HYOSUNG Recent Developments
7.9 China XD Group
7.9.1 China XD Group Profile
7.9.2 China XD Group Main Business
7.9.3 China XD Group Electric Power Transmission Equipment Products, Services and Solutions
7.9.4 China XD Group Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.9.5 China XD Group Recent Developments
7.10 Mitsubishi Electric
7.10.1 Mitsubishi Electric Profile
7.10.2 Mitsubishi Electric Main Business
7.10.3 Mitsubishi Electric Electric Power Transmission Equipment Products, Services and Solutions
7.10.4 Mitsubishi Electric Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.10.5 Mitsubishi Electric Recent Developments
7.11 Toshiba
7.11.1 Toshiba Profile
7.11.2 Toshiba Main Business
7.11.3 Toshiba Electric Power Transmission Equipment Products, Services and Solutions
7.11.4 Toshiba Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.11.5 Toshiba Recent Developments
7.12 Crompton Greaves
7.12.1 Crompton Greaves Profile
7.12.2 Crompton Greaves Main Business
7.12.3 Crompton Greaves Electric Power Transmission Equipment Products, Services and Solutions
7.12.4 Crompton Greaves Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.12.5 Crompton Greaves Recent Developments
7.13 Prolec GE (SPX Transformer Solutions)
7.13.1 Prolec GE (SPX Transformer Solutions) Profile
7.13.2 Prolec GE (SPX Transformer Solutions) Main Business
7.13.3 Prolec GE (SPX Transformer Solutions) Electric Power Transmission Equipment Products, Services and Solutions
7.13.4 Prolec GE (SPX Transformer Solutions) Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.13.5 Prolec GE (SPX Transformer Solutions) Recent Developments
7.14 Fuji Electric
7.14.1 Fuji Electric Profile
7.14.2 Fuji Electric Main Business
7.14.3 Fuji Electric Electric Power Transmission Equipment Products, Services and Solutions
7.14.4 Fuji Electric Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.14.5 Fuji Electric Recent Developments
7.15 Shanghai Electric
7.15.1 Shanghai Electric Profile
7.15.2 Shanghai Electric Main Business
7.15.3 Shanghai Electric Electric Power Transmission Equipment Products, Services and Solutions
7.15.4 Shanghai Electric Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.15.5 Shanghai Electric Recent Developments
7.16 Baoding Tianwei
7.16.1 Baoding Tianwei Profile
7.16.2 Baoding Tianwei Main Business
7.16.3 Baoding Tianwei Electric Power Transmission Equipment Products, Services and Solutions
7.16.4 Baoding Tianwei Electric Power Transmission Equipment Revenue (US$ Million) & (2020-2025)
7.16.5 Baoding Tianwei Recent Developments
8 Industry Chain Analysis
8.1 Electric Power Transmission Equipment Industrial Chain
8.2 Electric Power Transmission Equipment Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Electric Power Transmission Equipment Sales Model
8.5.2 Sales Channel
8.5.3 Electric Power Transmission Equipment Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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