Electric Transmission & Distribution Equipment Market to Reach $ 254 Billion by 2025
Growing demand for energy
and increasing technological advancements are expected to drive the global
electric transmission & distribution equipment market during forecast
period
According to
TechSci Research report, “Global Electric
Transmission & Distribution Equipment Market By Equipment Type, By Voltage,
By End-User, By Region, Competition, Forecast & Opportunities, 2025”, the global electric
transmission & distribution equipment market is estimated to reach nearly $
254 billion by 2025 on account of increasing demand for electricity, new power
generation capacity additions and the expansion of electricity transmission and
distribution infrastructure, globally. Moreover, electrification of large
sectors coupled with digitization of the grids and meters is expected to
bolster the growth of global electric transmission & distribution equipment
market over the coming years. Furthermore, transition from conventional to
modular switchgears across the globe is also expected to positively influence
the market through 2025. However, the loss of electrical energy during
transmission and distribution is a major concern still left to be tackled. On
the other hand, the global electric transmission and distribution equipment
market is expected to see a drop in the market value in 2020 due to the
COVID-19 lockdown across the globe.
Browse 107 market data Figures spread through 110 Pages and an in-depth TOC on "Global
Electric Transmission & Distribution Equipment Market"
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In terms of
voltage segmentation, the market is dominated by low voltage segment and the
segment is forecast to dominate the market in the coming years. By end-user segments, the market is segmented
into energy and utilities, industrial, commercial and residential. Among them, energy
and utilities segment held the largest market share until 2019 and is expected to
hold its dominance during the forecast period due to the increasing focus on
renewable energy along with the replacement and upgradation of existing power
transmission and distribution infrastructure.
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ABB Ltd.,
Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Prysmian
Group, Xian XD Switchgear Electric, Crompton Greaves, Burns and McDonnell,
Power Engineering International, and Sterlite Power are among the leading
players operating in the global electric transmission & distribution
equipment market. “Asia-Pacific region is anticipated to dominate the global electric
transmission & distribution equipment market during the forecast period,
which can be attributed to the growth in construction activities, increasing
electric access, urbanization and rapid industrialization across the region.
Additionally, rising development and adoption of better transmission and
distribution equipment is further expected to augment the expansion of the region’s
electric transmission & distribution equipment market over the course of
next five years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based the global management consulting firm.
“Global Electric Transmission &
Distribution Equipment Market By Equipment Type, By Voltage, By End-User, By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of the global
electric transmission & distribution equipment market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers to take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global electric transmission &
distribution equipment market.
Contact
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