Electric Power Transmission And Distribution Equipment Market
PUBLISHED: 2023 ID: SMRC23244
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Electric Power Transmission And Distribution Equipment Market

Electric Power Transmission and Distribution Equipment Market Forecasts to 2028 - Global Analysis By Equipment Type (Insulators & Fittings, Cables & Lines, Switchgear and Other Equipment Types), Installation Type (Underground Installation and Overhead Installation), Voltage (Low Voltage Distribution, Medium Voltage Distribution and High Voltage Distribution), End User and By Geography

4.9 (55 reviews)
4.9 (55 reviews)
Published: 2023 ID: SMRC23244

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $218.20 BN

Projected Year Value (2028)

US $340.52 BN

CAGR (2022 - 2028)

7.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Electric Power Transmission and Distribution Equipment Market is accounted for $218.20 billion in 2022 and is expected to reach $340.52 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Power and electrical energy are transferred between a power generation facility and an electrical substation situated at a different location using electric power transmission and distribution equipment. Switchgear, switchboards, basic and sophisticated meters, belts and chains, as well as interconnected lines, known as the transmission network, are the main components of this set of equipment, which facilitates the movement of electrical energy. Cables, switches, transformers, conductors, circuits, converters, insulators, and capacitors are also included. Due to the rising demand for transmission and distribution equipment that is more reliable, safe, and efficient, these components are constantly being upgraded technologically.

According to the study published by the U.S. Energy Information Administration (EIS), in May 2022, solar and wind energy are expected to be the largest renewable energy source for US electricity generation.

Market Dynamics:

Driver:

Rising electricity consumption due to urbanization

The demand for an uninterrupted power supply is being driven by rising electricity consumption in developing regions and a recovery of the economy in developed nations. The pressure on infrastructure developers to construct smart, connected homes with all the amenities is growing as more people move from rural areas to urban cities and towns in search of opportunities. Running appliances and other IoT devices requires electricity. Suppliers are investing to ensure that homes are electronically and electrically connected with an adequate supply of electricity and water as the demand for power transmission and distribution systems rises. The market is anticipated to grow as a result of this demand and supply scenario.

Restraint:

High installation costs

The initial material and installation costs for the power grid or electric power generation are high, and numerous protective devices, such as transformers, overhead components, switchgear, etc., are used at the time of installation. To prevent a potentially dangerous outbreak, it also required the relay, circuit breakers, and contractor. For better connectivity, more insulators are necessary. These elements demonstrate that the initial installation cost is higher than anticipated and would restrain the market's expansion.

Opportunity:

Use of renewable energy sources

The market for renewable energy would be driven by people's growing awareness of global warming and their changing attitudes toward renewable energy sources. Renewable energy sources include wind, solar, geothermal energy, biomass, etc. Renewable power decreased reliance on fossil fuels and decreased electricity costs. Due to the decreased cost of electricity, many countries have recently adopted renewable energy as their main energy source. As a result, the market for electric power transmission and distribution equipment will likely grow in the future as a result of the adoption of renewable energy sources.

Threat:

Lack of skilled technicians

The power, petrochemical, and renewable energy sectors' inability to drive decarburization due to a lack of skilled technical labor is predicted to impede market expansion. Over the forecast period, the energy sector and the demand for market growth will be significantly impacted by a lack of labor with the necessary knowledge and experience as well as a subpar recruitment process within the organization. Such aspects are hindering market growth.

Covid-19 Impact

Electric power transmission and distribution equipment installation and production temporarily came to a halt as a result of the sudden COVID-19 pandemic outbreak, which prompted the adoption of strict lockdown regulations across a number of nations. For instance, India's electricity demand decreased by 20–25% in 2020 as a result of the lockdown, which had an impact on the revenue of the distribution utilities. The nation's distribution firms experience a USD 1.7 billion monthly revenue deficit. The demand for power from various nations and end-use industries has decreased during this pandemic period as a result of economic contractions.

The cables and lines segment is expected to be the largest during the forecast period

Over the forecast period, it is anticipated that the cables and lines segment will account for the largest market share. The expansion of the smart grid, power transmission, and distribution are attributed to the segment's growth. Electronics, portable equipment, and machines all use flexible power cables. These cables are designed and manufactured with the rated voltage, current, and maximum working temperature in mind. Additionally, increased investments in submarines and underground cables have been brought on by smart grid technology's ability to meet the growing demand for interconnections.

The transformer segment is expected to have the highest CAGR during the forecast period

During the forecast period, the Transformer segment is anticipated to experience profitable growth. Rapid urbanization and industrialization around the world contributed to the segment's growth. The transformer is essentially a tool for distributing and transmitting alternating current power in order to control voltage. Maintaining equilibrium between the power generated at very high voltages and the consumption of electricity at very low voltages was the main objective of using transformers. Transformers are used in a variety of industries, including the grid for generating electricity and the transmission of electrical energy.

Region with largest share:

Asia Pacific region controlled more than 52.0% of global revenue share, and it is anticipated that this dominance will continue throughout the forecast period. This can be attributed to an increase in industrialization, urbanization, and construction activities in the area. As a result, regional governments and regulatory organizations support the modernization of their grids with intelligent technology and precise fault detection tools. Additionally, investments in grid expansion projects from nations like India, China, Vietnam, and the Philippines are anticipated to fuel the market's expansion.

Region with highest CAGR:

The electric power transmission and distribution equipment market in North America is predicted to grow rapidly. The market in the area is being driven by the increasing use of renewable energy sources for electricity production. New products like halogen-free, low-energy-consumption flame retardant compounds have been made more widely available due to regulatory changes. Since new technologies like fiber optics can increase efficiency, network providers like Verizon and AT&T are implementing them quickly.



Key players in the market

Some of the key players profiled in the Electric Power Transmission and Distribution Equipment Market include ABB Ltd., Acme Electric Corporation, Alstom SA, BHEL, CG Power and Industrial Solutions Limited, Cooper Power Systems, LLC, Crompton Greaves, Debian Electric Apparatus Stock Company Limited, Eaton Corporation, Echelon CORP, EMCO Limited, General Cable Corporation, General Electric, Hubbell Incorporated, Itron Incorporated, Jyoti Structures Limited, KEC International Ltd. INC, Kirloskar Ltd., Kohler Company, Larsen & Toubro Limited, Mitsubishi Electric Corporation, Osram AG, Schneider Electric SE and TBEA Co. Ltd.

Key Developments:

In May 2023, India’s largest electric power transmission company “Powergrid” collaborated and signed the Memorandum of Understanding (MoU) with Safdarjung Hospital and VMMC to provide medical equipment for urology cancer patients. The memorandum signed for the giving financial support to Safdarjung Hospital and VMMC to afford advanced medical equipment.

In May 2023, researchers from Oregon State University stated that, smart meters are the focus of electric grid destabilization. Smart meters are electrical equipment. A smart meter is a digital gadget that gathers information about power use and transmits it to a nearby utility through a communications link.

In May 2023, TotalEnergies introduced in Europe a project, which is expected to be online by the end of next year, will get 40 Intensium Max High Energy lithium-ion containers from TotalEnergies battery subsidiary Saft.

Equipment Types Covered:
• Insulators & Fittings
• Cables & Lines
• Switchgear
• Transformer
• Meter
• Other Equipment Types

Installation Types Covered:
• Underground Installation
• Overhead Installation

Voltages Covered:
• Low Voltage Distribution
• Medium Voltage Distribution
• High Voltage Distribution

End Users Covered:
• Utilities
• Industrial
• Government
• Residential
• Commercial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Electric Power Transmission and Distribution Equipment Market, By Equipment Type
5.1 Introduction
5.2 Insulators & Fittings
5.3 Cables & Lines
5.4 Switchgear
5.4.1 Circuit Breaker
5.4.2 Distribution Control Panel
5.4.3 Fuse
5.4.4 Other Switchgears
5.5 Transformer
5.5.1 Power Transformer
5.5.2 Distribution Transformer
5.5.3 Specialty Transformer
5.6 Meter
5.6.1 Basic Meter
5.6.2 Smart Meter
5.7 Other Equipment Types

6 Global Electric Power Transmission and Distribution Equipment Market, By Installation Type
6.1 Introduction
6.2 Underground Installation
6.3 Overhead Installation

7 Global Electric Power Transmission and Distribution Equipment Market, By Voltage
7.1 Introduction
7.2 Low Voltage Distribution
7.3 Medium Voltage Distribution
7.4 High Voltage Distribution

8 Global Electric Power Transmission and Distribution Equipment Market, By End User
8.1 Introduction
8.2 Utilities
8.3 Industrial
8.4 Government
8.5 Residential
8.6 Commercial
8.7 Other End Users

9 Global Electric Power Transmission and Distribution Equipment Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 ABB Ltd.
11.2 Acme Electric Corporation
11.3 Alstom SA
11.4 BHEL
11.5 CG Power and Industrial Solutions Limited
11.6 Cooper Power Systems, LLC
11.7 Crompton Greaves
11.8 Debian Electric Apparatus Stock Company Limited
11.9 Eaton Corporation
11.10 Echelon CORP
11.11 EMCO Limited
11.12 General Cable Corporation
11.13 General Electric
11.14 Hubbell Incorporated
11.15 Itron Incorporated
11.16 Jyoti Structures Limited
11.17 KEC International Ltd. INC
11.18 Kirloskar Ltd.
11.19 Kohler Company
11.20 Larsen & Toubro Limited
11.21 Mitsubishi Electric Corporation
11.22 Osram AG
11.23 Schneider Electric SE
11.24 TBEA Co. Ltd.

List of Tables
1 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Region (2020-2028) ($MN)
2 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Equipment Type (2020-2028) ($MN)
3 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Insulators & Fittings (2020-2028) ($MN)
4 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Cables & Lines (2020-2028) ($MN)
5 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Switchgear (2020-2028) ($MN)
6 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Circuit Breaker (2020-2028) ($MN)
7 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Distribution Control Panel (2020-2028) ($MN)
8 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Fuse (2020-2028) ($MN)
9 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Other Switchgears (2020-2028) ($MN)
10 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Transformer (2020-2028) ($MN)
11 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Power Transformer (2020-2028) ($MN)
12 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Distribution Transformer (2020-2028) ($MN)
13 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Specialty Transformer (2020-2028) ($MN)
14 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Meter (2020-2028) ($MN)
15 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Basic Meter (2020-2028) ($MN)
16 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Smart Meter (2020-2028) ($MN)
17 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN)
18 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Installation Type (2020-2028) ($MN)
19 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Underground Installation (2020-2028) ($MN)
20 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Overhead Installation (2020-2028) ($MN)
21 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Voltage (2020-2028) ($MN)
22 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Low Voltage Distribution (2020-2028) ($MN)
23 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Medium Voltage Distribution (2020-2028) ($MN)
24 Global Electric Power Transmission and Distribution Equipment Market Outlook, By High Voltage Distribution (2020-2028) ($MN)
25 Global Electric Power Transmission and Distribution Equipment Market Outlook, By End User (2020-2028) ($MN)
26 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Utilities (2020-2028) ($MN)
27 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Industrial (2020-2028) ($MN)
28 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Government (2020-2028) ($MN)
29 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Residential (2020-2028) ($MN)
30 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Commercial (2020-2028) ($MN)
31 Global Electric Power Transmission and Distribution Equipment Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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