Power Transmission and Distribution Equipment

Power Transmission and Distribution Equipment

Global Power Transmission and Distribution Equipment Market to Reach US$376.5 Billion by 2030

The global market for Power Transmission and Distribution Equipment estimated at US$256.5 Billion in the year 2023, is expected to reach US$376.5 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2023-2030. Wires & Cables, one of the segments analyzed in the report, is expected to record a 4.7% CAGR and reach US$108.6 Billion by the end of the analysis period. Growth in the Switchgear segment is estimated at 6.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$44.9 Billion While China is Forecast to Grow at 7.4% CAGR

The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$44.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$97.5 Billion by the year 2030 trailing a CAGR of 7.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.4% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Power Transmission and Distribution Equipment Market - Key Trends & Drivers Summarized

Power transmission and distribution equipment are essential components of the electrical grid, facilitating the transfer of electricity from power plants to consumers. These systems include a variety of devices such as transformers, switchgear, circuit breakers, and transmission lines. Transformers adjust the voltage levels for efficient power transmission over long distances, while switchgear and circuit breakers ensure the safety and reliability of the electrical system by controlling and protecting electrical circuits. Transmission lines, both overhead and underground, carry high-voltage electricity from generation sites to substations, where the voltage is reduced for distribution to homes and businesses. The efficient functioning of these components is crucial for maintaining the stability and reliability of the power supply.

Technological advancements have significantly enhanced the capabilities and efficiency of power transmission and distribution equipment. The adoption of smart grid technologies has revolutionized the management of electricity distribution, enabling real-time monitoring and control of the electrical grid. Additionally, the integration of renewable energy sources, such as solar and wind, into the power grid has necessitated the development of advanced equipment capable of handling variable and decentralized power generation. High-voltage direct current (HVDC) transmission systems and flexible alternating current transmission systems  are examples of technological advancements that have improved the efficiency and capacity of power transmission over long distances.

The growth in the power transmission and distribution equipment market is driven by several factors. The increasing demand for electricity, fueled by rapid urbanization and industrialization, particularly in emerging economies, has necessitated the expansion and upgrading of power infrastructure. The global shift towards renewable energy sources has also spurred investments in modernizing the grid to accommodate these new forms of power generation. Government initiatives and policies aimed at improving energy efficiency and reducing carbon emissions are further propelling market growth. Additionally, advancements that enhance performance and reliability of transmission and distribution equipment are encouraging utilities to upgrade their existing infrastructure. The rising focus on smart grid development, which integrates advanced communication and control technologies, is also a significant driver. These factors, combined with continuous innovation in power transmission and distribution technologies, are ensuring robust growth in the market, underscoring its critical role in supporting the evolving energy landscape.

Select Competitors (Total 504 Featured) -

• Astor Enerji A.S
• Bharat Heavy Electricals Limited
• CG Power and Industrial Solutions Limited
• DAIHEN Corporation
• Eaton Corporation plc
• GE Grid Solutions, LLC
• Hammond Power Solutions, Inc.
• HD Hyundai Electric Co. Ltd.
• Hubbell Incorporated
• Imefy Group
• JiangSu HuaPeng Transformer Co., Ltd. (JSHP)
• Kirloskar Electric Company Limited
• KONCAR Electrical Industry Inc.
• Larsen & Toubro Limited
• Mitsubishi Electric Corporation
• PFISTERER Holding SE
• Pioneer Power Solutions, Inc.
• Prysmian Group
• S&C Electric Company
• Schneider Electric S.E.
• SGB-SMIT Group
• Siemens AG
• Toshiba Energy Systems & Solutions Corporation
• Wilson Power Solutions Ltd.
• Wilson Transformer Company Pty Ltd.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.