Allied Market Research

2024

Electric Transmission And Distribution Equipment Market

Electric Transmission and Distribution Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Equipment (Wire Cable, Switchgear, Transformer, Meter, Insulator Capacitor), by Voltage (Low Voltage, Medium Voltage, High Voltage) and by End User (Energy Utilities, Industrial, Commercial, Residential): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Eswara Prasad
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The global electric power transmission and distribution equipment market is anticipated to grow at a lucrative rate in the coming years. Electric transmission and distribution equipment (T&D equipment) is used for transferring power and electrical energy between a power generation plant and an electrical substation located in another place. After electricity generates, a system of electrical wires carries the electricity from the source of generation to homes and businesses. This set of equipment primarily involves switchgears, switchboards, basic and advanced meters, belts and chains, along with interconnected lines, known as transmission network, that facilitates the flow of electrical energy. It also includes cables, switches, transformers, conductors, circuits, converters, insulators and capacitors. These components undergo consistent technological upgradation, owing to the increase in demand for more efficient, safer, and reliable transmission and distribution equipment. Transmission of electric power is the transfer of bulk electrical energy to substations from power generating plants. Substations/population centers are located near demand centers and electrical energy is further delivered through a distribution system network, distribution being the final stage in the delivery of electricity to consumers. Electrical transmission is distinct from electrical distribution, in terms of carrying large quantities of high voltage power over large distances. Thus, there are differences in the equipment used for each.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

 Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

 Equipment, Voltage, End User, and Region

 

COVID-19 Impact Analysis

  • The electric transmission and distribution equipment market faced a drop in the market value due to the impact of COVID-19. The pandemic caused a negative impact on the economic activities around the globe, which affected the market growth of the electric transmission and distribution equipment.
  • The pandemic affected the power industry and caused a decline in the market due to decline in demand for energy and adversely affected the market of electric transmission and distribution equipment due to their application, mostly found in these industries.
  • The lockdown caused due to the pandemic interrupted the supply chain and the raw material manufacturing, which affected the production activity of the transmission and distribution equipment.
  • Industries and the commercial sector faced a decrease in the demand due to the lockdown but the residential segment saw an increase in the demand for energy as people stayed at home to follow social distancing norms. This provided an opportunity for the electric transmission and distribution equipment market to grow in the residential sector. 
  • With lockdown uplifted from most countries, the market is expected to grow at a rapid speed due to the increase in demand.

Top Impacting Factors

The electric power transmission and distribution equipment market size and sales revenue increase, driven by the rise in office, commercial, industrial and residential needs for electrical energy. Developing countries such as India have huge demand for electrical energy due to the production and construction activities being carried out, which drives the growth of the electric power transmission and distribution equipment market. The advent of smart cities has led to the modernization of electrical grids, which is another crucial factor contributing to the market growth. However, a major concern for electric power transmission and distribution equipment market is the loss of electrical energy during transmission and distribution. Equipment that prevents maximum loss over longer distances needs to be devised. The power, reliability, frequency, voltage, and load factor capabilities of the system need to be designed to fulfill customers’ needs as well as be cost-effective and this could be a restraint for the market. The increase in investments in renewable energy facilities and awareness regarding the need to reduce energy losses encourage the adoption of technologically improved equipment across the globe and are providing opportunity for electric transmission and distribution equipment market. The other factor that provides the growth opportunity is the rapid urbanization, increase in R&D in transformer production, and prioritization of domestic energy infrastructure development by governments of several nations.

Market Trends

  • The Indian and Indonesian market for electric transmission and distribution equipment are expected to be benefited from both expansion of basic electrification infrastructure and increased electricity consumption. 
  • Advances in the field of electric transmission and distribution equipment is expected to drive the market due to the increase in proliferation of renewable energy projects, which requires significant quantities of electric transmission and distribution equipment in order to integrate with electric grids. Wind power is expected to represent the largest component of new renewable energy. 
  • The IO-Link technology enables users to communicate quickly and easily with their sensors and actuators. The cables for IO-Link must withstand the highest stresses in the energy chain and torsion on the robot. IGUS has now developed two new cables for this purpose. They convince with a tested service life of 22 million strokes in test 4869. At the same time, they are 32 per cent more cost-effective than currently available alternatives. When sensors go haywire and actuators do not really work, the frustration of the production manager is pre-programmed. IO-Link technology enables users to monitor the status of their sensors and communicate with them at any time. It is the first worldwide standard (IEC 61131-9) for communication with sensors and actuators. IGUS has now developed two new cables especially for the IO-Link system.
  • On 7th January 2021, ABB India has launched Formula DIN-Rail, a complete range of Miniature Circuit Breakers (MCBs), Residual Current Circuit Breakers (RCCBs) and Isolators for the electrical retail market. The ABB Formula DIN-Rail portfolio with its contemporary design provides optimum protection to electrical circuits from possible damages caused by overload, short circuits, and earth leakages in buildings.

Key Benefits of Report

  • This study presents the analytical depiction of the electric transmission and distribution equipment market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the electric transmission and distribution equipment market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the electric transmission and distribution equipment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed electric transmission and distribution equipment market analysis based on competitive intensity and how the competition will take shape in the coming years.

Electric Transmission and Distribution Equipment Market Report Highlights

Aspects Details
Electric Transmission and Distribution Equipment Market By Equipment
By Equipment
  • Wire & Cable
  • Switchgear
  • Transformer
  • Meter
  • Insulator & Capacitor
Electric Transmission and Distribution Equipment Market By Voltage
By Voltage
  • Low Voltage
  • Medium Voltage
  • High Voltage
Electric Transmission and Distribution Equipment Market By End User
By End User
  • Energy & Utilities
  • Industrial
  • Commercial
  • Residential
Electric Transmission and Distribution Equipment Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

General Electric, Mitsubishi Electric Corp., Imefy Group, Siemens AG, Schneider Electric, ABB, Hyundai Electric & Energy Systems Co., Ltd., Crompton Greaves, IGUS., Xian XD Switchgear Electric

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Electric Transmission and Distribution Equipment Market

Global Opportunity Analysis and Industry Forecast, 2023-2032