$312 Billion Power Transmission and Distribution Equipment Industry – Global Market Trajectory & Analytics to 2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Power Transmission and Distribution Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Power Transmission and Distribution Equipment Market to Reach $312.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Power Transmission and Distribution Equipment estimated at US$256.5 Billion in the year 2020, is projected to reach a revised size of US$312.8 Billion by 2026, growing at a CAGR of 4.8% over the analysis period.
Wire & Cable, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$117.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Switchgear segment is readjusted to a revised 5.3% CAGR for the next 7-year period. This segment currently accounts for a 25% share of the global Power Transmission and Distribution Equipment market.
The U.S. Market is Estimated at $65.8 Billion, While China is Forecast to Reach $63.7 Billion by 2026
Transformers can be either integrated in compact substations or free-standing; pad, platform, ground, pole-mounted, and should exhibit high performance thermally, magnetically and electrically. Transformers need to be designed in such a way that they are easy to handle, install, lift, and transport. The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$65.8 Billion in the year 2021.
The country currently accounts for a 26.99% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$63.7 Billion in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$74.6 Billion by the end of the analysis period.
Major developments occurring in power transmission and distribution (T&D) systems across the world include electrification of transportation and heating for long term reduction of carbon emissions; decentralization through distributed generation, storage, and demand response; and digitization through the integration of smart sensor, smart meters, connected devices, Internet of Things (IoT), and other digital network technology systems and solutions.
Future electricity grids and the T&D networks will evolve to become smarter, more decentralized, and more connected offering myriad benefits in terms of increased reliability, security, environmental sustainability, and asset utilization in addition to enabling more control, real-time optimization of consumption and production, fewer carbon emissions, greater choice, seamless interaction with customers, always-on connection, higher transparency, better reliability, and security, among other benefits.
Transformers Segment to Reach $56.1 Billion by 2026
In the global Transformers segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$33 Billion in the year 2020 will reach a projected size of US$47.6 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.7 Billion by the year 2026, while Latin America will expand at a 6.2% CAGR through the analysis period.
FOCUS ON SELECT PLAYERS
- ABB Limited (Switzerland)
- ABB Kuhlman (USA)
- ASTOR TRANSFORMER A.S (Turkey)
- Bharat Heavy Electricals Limited (India)
- CG Power and Industrial Solutions Limited (CG) (India)
- DAIHEN Corporation (Japan)
- Diamond Power Infrastructure Limited (India)
- Eaton Corporation plc (Ireland)
- GE Grid Solutions, LLC (USA)
- Hammond Power Solutions, Inc. (Canada)
- Howard Industries, Inc. (USA)
- Hubbell Incorporated (USA)
- Hyundai Electric & Energy Systems Co., Ltd. (South Korea)
- Imefy Group (Spain)
- JiangSu HuaPeng Transformer Co., Ltd. (JSHP) (China)
- Kirloskar Electric Company Limited (India)
- KONCAR – Elektroindustrija d.d. (Croatia)
- Larsen & Toubro Limited (India)
- Mitsubishi Electric Power Products, Inc. (USA)
- Pioneer Power Solutions, Inc. (USA)
- Bemag Transformer (Canada)
- Prysmian Group (Italy)
- Regal Beloit Corporation (USA)
- S&C Electric Company Inc. (USA)
- Schneider Electric S.E. (France)
- SGB-SMIT Group (Germany)
- Siemens AG (Germany)
- SPX Transformer Solutions, Inc. (USA)
- TBEA Co., Ltd. (China)
- Toshiba Energy Systems & Solutions Corporation (Japan)
- Wilson Power Solutions Ltd. (UK)
- Wilson Transformer Company Pty Ltd. (Australia)
For more information about this report visit https://www.researchandmarkets.com/r/1dpz9c
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