Global Electric Power Transmission and Distribution Equipment Market is valued at approximately USD 202.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2022-2029. Electric power transmission and distribution equipment is used for transporting power and electrical energy between a power generation plant and an electrical substation placed in another place. After electricity generates, a system of electrical wires carries the electricity from the source of generation to various spaces. This equipment set encompasses basic and advanced meters, switchboards, switchgears, belts and chains, along with interconnected lines, known as transmission network, which allows the flow of electrical energy. The growing R&D in transformer production, rapid urbanization, and rising demand for domestic energy infrastructure development by governments of several nations are the primary factors that are fueling the market demand across the globe.
The main sources of renewable energy are sources like wind, biomass, sun, geothermal, and hydroelectricity. These green energy options improve the environment, lessen reliance on fossil fuels, and raise electricity prices. According to research released by the US Energy Information Administration (EIS) stated that the solar and wind energy is a witnessed as a leading renewable energy sources for US power generation in May 2022. Additionally, The US EIS, estimated a rise of 10 Billion-Mega Watthours (MWh) in solar energy generation between June and August 2022 compared to the 2021. Also, it is anticipated that during the same period , wind energy generation is grown by 8 billion MWh. According to the report, utility-scale solar energy expected be produced at a pace of 65 GW in the US electric power sector, up 31% since June 2021. Thus, the rising need for effective electric power transmission and distribution equipment supporting the demand for green energy in the global energy sector, which is bolstering the demand for electric power transmission and distribution equipment in the global market. Moreover, rising investments in renewable energy facilities, as well as the growing awareness regarding the need to reduce energy losses are presenting various lucrative opportunities over the forecasting years. However, the lack of skilled technical labor and the loss of electrical energy during transmission and distribution are hindering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Electric Power Transmission and Distribution Equipment Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the rising construction activities, growing urbanization, along with the rapid industrialization. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing electricity consumption, as well as surging demand for advanced power transmission and distribution equipment in the market space.
Major market players included in this report are:
Mitsubishi Electric Corp.
Xian XD Switchgear Electric
Hyundai Electric & Energy Systems Co., Ltd.
Recent Developments in the Market:
In May 2022, The Biden Administration’s Interconnection Innovation e-Xchange (i2X) initiative, launched through the U.S. Department of Energy (DOE), introduced together grid utilities, operators, tribal and state governments, energy justice organizations, and other stakeholders to address power grid issues in America and encourage the use of more clean energy.
Global Electric Power Transmission and Distribution Equipment Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Sales Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Insulator & Fittings
Cable & Lines
By Sales Channel:
Rest of the World