According to a new market report published by Lucintel, the future of the electric transmission and distribution equipment market looks promising with opportunities in the power utility, residential, commercial, and industrial sectors. The global electric transmission and distribution equipment market is expected to reach an estimated $381 billion by 2027 with a CAGR of 5.4% from 2021 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.
In this market, wires & cables, transformers, switchgears, capacitors, insulators, and meters are used for transmission and distribution of electricity. 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.
Within the market, 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 residential end use 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, and 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.
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. ABB, Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Xian XD Switchgear Electric, and Crompton Greaves are among the major suppliers of electric transmission and distribution equipment.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric transmission and distribution equipment markets by product type, voltage, end use industry, and region.
Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Electric Transmission and Distribution Equipment Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. 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 2016 – 2027]:
Utilities
Industrial
Residential
Commercial
By Product Type [$M shipment analysis for 2016 – 2027]:
Wire and Cable
Switchgear
Transformers
Power
Distribution
Specialty
Basic Meters
Smart Meters
By Voltage [$M shipment analysis for 2016 – 2027]:
Low Voltage
Medium Voltage
High Voltage
By Region [$M shipment analysis for 2016 – 2027]:
Russia
Germany
United Kingdom
France
Italy
China
India
South Korea
Japan
Brazil
Saudi Arabia
South Africa
This 190-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.