Electricity Transmission And Distribution Market Size And Forecast
Electricity Transmission And Distribution Market is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.
The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure. Emerging trends, which have a direct impact on the dynamics of the electric transmission and distribution equipment industry, include growing implementation of smart grid technology, implementation of advanced metering infrastructure, and transition from conventional to modular switchgear. Most regions and countries are expected to experience strong growth in the electricity transmission industry as governments of most countries are engaging in upgrading and expanding the transmission and distribution infrastructure. The Global Electricity Transmission and Distribution Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Electricity Transmission And Distribution Market Definition
Transmission and distribution refer to the different stages of carrying electricity over poles and wires from generators to a home or a business. The primary distinction between the two is the voltage level at which electricity moves in each stage. After electricity has been generated, a system of electrical wires carries the electricity from the source of generation to our homes and businesses. These lines can be found overhead or sometimes in the ground, and, combined, transmission and distribution lines make up what is commonly called “the grid.” Transmission and distribution are two separate stages or systems on the grid
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Transmission is the “interstate highway” of electricity delivery. It refers to the part of electricity delivery that moves bulk electricity from the generation sites over long distances to substations closer to areas of demand for electricity. Substations centers are located near demand centers and electrical energy is further delivered through a distribution system network, distribution being the final stage in the delivery of electricity to consumers. Consumers may recognize transmission lines as the larger, taller poles/towers carrying many wires over longer distances. Transmission lines move large amounts of power at a high voltage level – a level that is too much to be delivered directly to a home or business. Transmission lines, transformers, substations and other equipment have voltages of 100 kV and above.
Global Electricity Transmission And Distribution Market Overview
Increasing use of renewable energy sources, aging infrastructure, and rising demand for electricity are encouraging the need to improve transmission efficiency and energy security, thus contributing to the growth of the electricity transmission and distribution market. The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.
Most regions and countries are expected to experience strong growth in electricity transmission industry as governments of most countries are engaging in upgrading and expanding the transmission and distribution infrastructure. Emerging economies in power transmission and distribution equipment market are expected to drive the growth of this market, while the US and European nations are expected to remain major contributors due to their tremendous need for electrical power. This industry is further expected to witness market growth as economies continue to invest heavily in electricity generation, transmission, and distribution networks. Emerging trends, which have a direct impact on the dynamics of the electric transmission and distribution equipment industry, include growing implementation of smart grid technology, implementation of advanced metering infrastructure, and transition from conventional to modular switchgears. The future of the electric transmission and distribution equipment market looks promising with opportunities in the power utilities, residential, commercial, and industrial sectors.
Global Electricity Transmission And Distribution Market Segmentation Analysis
The Global Electricity Transmission And Distribution Market is segmented On The Basis of Product, Application, And Geography.
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Electricity Transmission And Distribution Market, By Product
• Transmission Tower
• Power Cables and Wires
Based on Product, the market is bifurcated into Transformers, Switchgears, Transmission Tower, Power Cables and Wires and Others. Switchgears is accounting for the largest share among the all segments in the market.
Electricity Transmission And Distribution Market, By Application
• Industrial and Agriculture
Based on Application, the market is bifurcated into Residential, Industrial and Agriculture, and Commercial. Among all the segments Residential segment is projected for highest share in the market.
Electricity Transmission And Distribution Market, By Geography
• North America
• Asia Pacific
• Rest of the world
Based on regional analysis, the Global Electricity Transmission and Distribution Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific is estimated to be the largest and fastest growing market during the forecast period. The region has been segmented, by country, into China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Countries in this region are experiencing an increase in demand for power due to rapid urbanization and increase in industrialization. The Electricity Transmission and Distribution Market in North America is expected to grow at the highest CAGR during the forecast period. Moreover, MEA is anticipated to witness sluggish growth over the forecast period.
Key Players In Global Electricity Transmission And Distribution Market
The “Global Electricity Transmission And Distribution Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are ABB, Alstom, SIEMENS, TOSHIBA, Schneider, Hitachi, Fuji Electric, Mitsubishi Electric, GE and SYOSUNG. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
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