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Global Power Transmission and Distribution Equipment Strategic Markets Report 2023: Market to Reach $378.7 Billion by 2030 - Spending Gaps & Deficits Highlights the Urgency of Upgrades & Modernization
Global Market for Power Transmission and Distribution Equipment
Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Power Transmission and Distribution Equipment: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Power Transmission and Distribution Equipment Market to Reach $378.7 Billion by 2030
The global market for Power Transmission and Distribution Equipment estimated at US$243.8 Billion in the year 2022, is projected to reach a revised size of US$378.7 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2022-2030.
Wire & Cable, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$126.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Switchgear segment is readjusted to a revised 6.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $43.1 Billion, While China is Forecast to Grow at 7% CAGR
The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$43.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$95.4 Billion by the year 2030 trailing a CAGR of 7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$106.1 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Metrics
Report Attribute | Details |
No. of Pages | 1333 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $243.8 Billion |
Forecasted Market Value (USD) by 2030 | $378.7 Billion |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
The Quest for Reliable, Cost-Effective, Efficient, and Sustainable Electricity System Begins With T&D Equipment. Here's Why
What's Ahead for Businesses & Markets?
Shaken by the War, Global Oil Prices Spiral & Feed Inflationary Pressures
War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation in 2022
After the Pandemic, Global Economic Uncertainty Surges Again Amid the Russia-Ukraine War, Lowering Growth Expectations for 2022
Competition
Power Transmission and Distribution Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Power Transmission and Distribution Equipment: Definition, Overview, Types & Evolution
Market Structure, Outlook & Special Focus on ABB, an Early Innovator in the T&D Space
World Brands
Recent Market Activity
Innovations
MARKET TRENDS & DRIVERS
Strong Comeback of Coal Despite an Expected Slowdown in Electricity Demand in 2022 & 2023 to Sustain Growth in the T&D Equipment Market
Continued Emphasis on Electricity Production Expansion Despite Demand Fluctuations Provides the Foundation for Growth in the T&D Equipment Market
Supplying Cost-Effective, Reliable Electricity Will Always Be a Priority for Utilities, Making T&D Equipment a Valuable Investment
Innovation in Transformer Technologies to Benefit Growth in the Market
Special Focus on Select Transformer Innovations Achieved Over the Years
High Voltage Transmission (HVT) Lines Rise in Popularity & Acceptance
Migration to HVDC Transmission Technology as the Future of Energy Distribution to Spur Demand for HVDC Overhead Cables
Growing Trend Towards Railway Electrification to Spur New Growth Opportunities for Overhead Cables
Huge Untapped Opportunity for Rail Electrification Brings Out India as a Lucrative Revenue Pocket for Overhead Cables in Asia-Pacific
Aging Energy Infrastructure Including Transmission Lines Drives Opportunities for Overhead Cable Replacements
Spending Gaps & Deficits Highlights the Urgency of Upgrades & Modernization
Aging Infrastructure Urges the Importance of Upgrades
Innovations in Overhead Power Cables: A Review
Smart Transformers Emerge into the Spotlight for their Numerous Benefits
Focus on Sustainability Brings Eco-Friendly T&D Equipment Into the Spotlight
Switchgears, the Dominant Product Segment Continues to Witness Growth
Distribution Transformers with On-Load Tap Changers to Play Critical Role in Smart Grids
AI & IoT Make Their Mark in Power Transmission Line Protection: A Review
FOCUS ON SELECT PLAYERS (Total 453 Featured)
ABB Limited
ASTOR TRANSFORMER A.S
Bharat Heavy Electricals Limited
CG Power and Industrial Solutions Limited (CG)
DAIHEN Corporation
Eaton Corporation plc
GE Grid Solutions, LLC
Hammond Power Solutions, Inc.
Hubbell Incorporated
Hyundai Electric & Energy Systems Co., Ltd.
Imefy Group
JiangSu HuaPeng Transformer Co., Ltd. (JSHP)
Kirloskar Electric Company Limited
KONCAR Electrical Industry Inc.
Larsen & Toubro Limited
Mitsubishi Electric Power Products, Inc.
Pioneer Power Solutions, Inc.
Prysmian Group
S&C Electric Company Inc.
Schneider Electric S.E.
SGB-SMIT Group
Siemens AG
Toshiba Energy Systems & Solutions Corporation
Wilson Power Solutions Ltd.
Wilson Transformer Company Pty Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/t0w8b5
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