Global T&D EquipmentMarket to 6.90% CAGR to 2021 – Analysis of ABB, General Cable Technologies, Nexans, Prysmian, and Siemens
The research analysts forecast the global TandD equipment market to grow at a CAGR of 6.90% during the period 2017-2021.
Power is generated at a power plant, and the TandD equipment infrastructure is used to transport the generated power to substations and then to electric utility transformers, which deliver electricity to domestic, commercial, and industrial end-users. Components such as power substations, transmission lines, power cables, switchgears, and power transformers are extensively used in power grids and electricity distribution systems. Therefore, they make primary building blocks in a TandD infrastructure. The market is segmented into power cables, transformers, and switchgears.
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Technavio recognizes the following companies as the key players in the global T&D equipment market: ABB, General Cable Technologies, Nexans, Prysmian, and Siemens
Other Prominent Vendors in the market are: AEI Cables, Belden, E+I Engineering, Eaton, Furukawa Electric Industrial Cable, GENERAL ELECTRIC, Hyundai Heavy Industries, International Wire Group, JDR Cable Systems, LS Cable, Mitsubishi Electric, NKT Group, S&C Electric Company, Schneider Electric, SKEMA, Southwire, Sumitomo Electric Industries, Able UK, Brugg Cables, Fujikura, LEONI, PARKER HANNIFIN, TPC Wire & Cable, BHEL, CG, Chint Group, HYOSUNG, Toshiba, and Lucy Electric.
The latest trend gaining momentum in the market is Growing focus on energy efficiency. Energy efficiency requires energy to be used efficiently throughout the energy chain from production to consumption. In a power grid, the power, in terms of quantity received, is always lower than the power produced at source, this is due to thermal losses owing to electrical resistivity and conductivity of the transmitting material.
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According to the report, one of the major drivers for this market is Increased demand for power generation. The demand for power has increased exponentially all over the globe, driven by increasing population and rapid urbanization and industrialization. There has been a substantial increase in the rate of urbanization with urban population exceeding rural population for the first time back in 2007. Since then, the rural to urban migration has been steady.
Further, the report states that one of the major factors hindering the growth of this market is Increase in distribution generation. Distribution generation denotes micro generation or small-scale electricity generation through the use of generators or renewables at the point of consumption and is gaining acceptance due to decrease in cost of energy systems such as solar PV and support from the government due to economic and environmental benefits.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain
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