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The future of the electric transmission and distribution equipment market looks promising with opportunities in the power utilities, residential, commercial, and industrial sectors. The electric transmission and distribution equipment market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $327 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. 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 switchgears.
A total of 113 figures / charts and 100 tables are provided in this 190 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of electric transmission and distribution equipment market report download the report brochure.
In this market, utilities is the largest end use industry, whereas switchgear is largest in product type. Growth in various segments of the electric t&d equipment market are given below:
Electric T&D Equipment Market by Segments