Electric Transmission and Distribution Equipment Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Electric Transmission and Distribution Equipment Market Trends and Forecast

The future of the global electric transmission and distribution equipment market looks promising with opportunities in the power utilities, residential, commercial, and industrial sectors. The global electric transmission and distribution equipment market is expected to reach an estimated $448.4 billion by 2030 with a CAGR of 5.0% from 2024 to 2030. The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.

• Lucintel forecasts that the wire and cable segment will remain the largest segment due to increasing electricity access to residential and commercial buildings. The transformer segment is expected to witness the highest growth over the forecast period, supported by government spending in electrical infrastructure and growth in housing demand in emerging markets.
• Utilities are expected to remain the largest end use market due to the replacement and upgradation of existing infrastructure and increasing focus on renewable energy. Lucintel predicts that the residential end use segment is likely to experience the highest growth over the forecast period, supported by growth in low voltage equipment, including cables and switchgears.
• Asia Pacific is expected to remain the largest market by value; it is also expected to witness the highest growth over the forecast period because of growth in construction activities, increasing electric access, urbanization, and rapid industrialization.

Asia Pacific is expected to remain the largest market in the Electric Transmission and Distribution Equipment Market

1. United States: Companies like General Electric, Siemens, and ABB are leading initiatives in the US market. The Biden administration's infrastructure plan includes significant investments in upgrading transmission and distribution infrastructure to modernize the grid and enhance renewable energy integration. Companies are targeting expansion in smart grid technologies and digital solutions.

2. China: Chinese companies such as State Grid Corporation of China and China Southern Power Grid are major players. The Chinese government's Five-Year Plan emphasizes grid modernization and expansion to support the country's renewable energy goals. Companies are focusing on developing high-voltage transmission equipment and smart grid technologies.

3. India: Companies like Tata Power, Adani Transmission, and Sterlite Power are driving initiatives. The Indian government's Ujwal DISCOM Assurance Yojana (UDAY) and Integrated Power Development Scheme (IPDS) aim to improve the efficiency and reliability of the transmission and distribution network. Companies are targeting expansion in grid automation and renewable energy integration solutions.

4. Germany: German companies such as Siemens and ABB are prominent in the market. The German government's Energiewende initiative focuses on transitioning to renewable energy sources, driving investments in grid infrastructure. Companies are developing advanced grid monitoring and control systems to accommodate the integration of renewables.

5. Brazil: Companies like CPFL Energia, Eletrobras, and Engie Brasil are active in the market. The Brazilian government's investments in grid expansion and modernization aim to improve energy access and reliability. Companies are targeting investments in smart grid technologies and distribution automation solutions.

Emerging Trends in the Electric Transmission and Distribution Equipment Market

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.

A total of 135 figures / charts and 115 tables are provided in this 190-page report to help in your business decisions. Sample figures with insights are shown below.

Electric Transmission and Distribution Equipment Market by Segment

The study includes trends and forecast for the global electric transmission and distribution equipment market by product type, voltage, end use industry, and region as follows:

By End Use Industry [$M shipment analysis for 2018 – 2030]:

• Utilities
• Industrial
• Residential
• Commercial

By Product Type [$M shipment analysis for 2018 – 2030]:

• Wires and Cables
• Switchgears
• Transformers
• Power
• Distribution
• Specialty
• Meters
• Basic Meters
• Smart Meters
• Insulators
• Capacitors

By Voltage [$M shipment analysis for 2018 – 2030]:

• Low Voltage
• Medium Voltage
• High Voltage

By Region [$M shipment analysis for 2018 – 2030]:

• North America
• US
• Canada
• Mexico
• Europe
• Russia
• Germany
• United Kingdom
• France
• Italy
• Asia Pacific
• China
• India
• South Korea
• Japan
• The Rest of the World
• Brazil
• Saudi Arabia
• South Africa

List of Electric Transmission and Distribution Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric transmission and distribution equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric transmission and distribution equipment companies profiled in this report includes.

• ABB Ltd.
• Bharat Heavy Electricals Ltd.
• Crompton Greaves Ltd
• Siemens AG
• Alstom SA
• Schneider Electric
• General Electric
• Havells India Ltd.
• Mitsubishi Electric Corporation
• EMCO Ltd.
• TBEA

Recent Developments in the Electric Transmission and Distribution Equipment Market

• Expansion of Grid Infrastructure: Several countries are investing in the expansion and modernization of their electric grid infrastructure to accommodate the growing demand for electricity and integrate renewable energy sources. This includes the installation of new transmission lines, substations, and distribution equipment to improve grid reliability and efficiency.
• Rise of Smart Grid Technologies: The adoption of smart grid technologies is gaining momentum globally, driven by the need for enhanced grid monitoring, control, and optimization. Electric utilities are deploying advanced sensors, communication systems, and automation solutions in transmission and distribution networks to improve grid resilience, reduce outage durations, and enable real-time data analytics for better decision-making.
• Focus on Grid Resilience and Reliability: Recent extreme weather events and cybersecurity threats have underscored the importance of grid resilience and reliability. Governments and utilities are investing in grid hardening measures, such as the installation of more resilient equipment, enhanced cybersecurity protocols, and strategic asset management practices, to minimize disruptions and ensure uninterrupted power supply.
• Integration of Renewable Energy Sources: The increasing penetration of renewable energy sources like solar and wind power requires upgrades to transmission and distribution infrastructure to facilitate their integration into the grid. This includes the development of new transmission corridors, grid interconnections, and storage solutions to manage intermittency and variability of renewable generation.
• Advancements in High-Voltage Equipment: Manufacturers are investing in research and development of high-voltage transmission and distribution equipment to improve efficiency, reduce losses, and increase power transfer capacity. This includes the development of innovative switchgear, transformers, and insulators capable of operating at higher voltages and frequencies to meet the demands of modern grid systems.

Features of Electric Transmission and Distribution Equipment Market

• Market Size Estimates:Electric transmission and distribution equipment market size estimation in terms of value ($M)
• Trend and Forecast Analysis:Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis:Electric transmission and distribution equipment market size by various segments, such as end use industry, product type, voltage, and region, in terms of value.
• Regional Analysis:Electric transmission and distribution equipment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities:Analysis on growth opportunities in different end use, product type, voltage, and regions for the electric transmission and distribution equipment market.
• Strategic Analysis:This includes M&A, new product development, and competitive landscape for the electric transmission and distribution equipment market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the electric transmission and distribution equipment market size?

Answer:The global electric transmission and distribution equipment market is expected to reach an estimated $448.4 billion by 2030.

Q2. What is the growth forecast for electric transmission and distribution equipment market?

Answer:The electric transmission and distribution equipment market is expected to grow at a CAGR of 5.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the electric transmission and distribution equipment market?

Answer: The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.

Q4. What are the major applications or end use industries for electric transmission and distribution equipment?

Answer:Utilities and industrial are the major end use industries for electric transmission and distribution equipment market.

Q5. What are the emerging trends in electric transmission and distribution equipment market?

Answer: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.

Q6. Who are the key electric transmission and distribution equipment companies?

Answer:Some of the key electric transmission and distribution equipment companies are as follows:

• ABB Ltd.
• Bharat Heavy Electricals Ltd.
• Crompton Greaves Ltd
• Siemens AG
• Alstom SA
• Schneider Electric
• General Electric
• Havells India Ltd.
• Mitsubishi Electric Corporation
• EMCO Ltd.
• TBEA

Q7. Which electric transmission and distribution equipment product segment will be the largest in future?

Answer: Lucintel forecasts that the wire and cable segment will remain the largest segment due to increasing electricity access to residential and commercial buildings.

Q8. In electric transmission and distribution equipment market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the global electric transmission and distribution equipment market by product (wires and cables, switchgears, transformers, meters, insulators, and capacitors), voltage type (low voltage, medium voltage, and high voltage), end use (utilities, industrial, residential, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities did take place in the last five years in this market?

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