Power Transmission and Distribution Equipment Global Market Report 2022: Growing Demand for New-Age Power Transformers Offering Greater Reliability, Efficiency, Resilience, and Durability Drive Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Power Transmission and Distribution Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global Power Transmission and Distribution Equipment Market to Reach $312.8 Billion by 2026

Amid the COVID-19 crisis, the global market for Power Transmission and Distribution Equipment estimated at US$257.5 Billion in the year 2022, is projected to reach a revised size of US$312.8 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Wire & Cable, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$117.7 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Switchgear segment is readjusted to a revised 5.3% CAGR for the next 7-year period. This segment currently accounts for a 25% share of the global Power Transmission and Distribution Equipment market.

The U.S. Market is Estimated at $68.2 Billion in 2022, While China is Forecast to Reach $63.7 Billion by 2026

Transformers can be either integrated in compact substations or free-standing; pad, platform, ground, pole-mounted, and should exhibit high performance thermally, magnetically and electrically. Transformers need to be designed in such a way that they are easy to handle, install, lift, and transport. The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$68.2 Billion in the year 2022. The country currently accounts for a 26.99% share in the global market.

China, the world’s second largest economy, is forecast to reach an estimated market size of US$63.7 Billion in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$74.6 Billion by the end of the analysis period.

Major developments occurring in power transmission and distribution (T&D) systems across the world include electrification of transportation and heating for long term reduction of carbon emissions; decentralization through distributed generation, storage, and demand response; and digitization through the integration of smart sensor, smart meters, connected devices, Internet of Things (IoT), and other digital network technology systems and solutions.

Select Competitors (Total 192 Featured):

• ABB Ltd.
• Bharat Heavy Electricals Limited (BHEL)
• CG Power and Industrial Solutions Limited
• DAIHEN Corporation
• Eaton Corporation PLC
• Efacec
• GE Grid Solutions
• Hammond Power Solutions, Inc.
• Hubbell Inc.
• Hyosung Power & Industrial Systems Performance Group
• Hyundai Electric & Energy Systems Co., Ltd.
• Imefy Group
• JiangSu HuaPeng Transformer Co., Ltd.
• KONCAR – Electrical Industry Inc.
• Mitsubishi Electric Corporation
• Schneider Electric SE
• SGB-SMIT GmbH
• Shihlin Electric & Engineering Corporation
• Siemens AG
• Wilson Power Solutions Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Demand for New-Age Power Transformers Offering Greater Reliability, Efficiency, Resilience, and Durability Drive Healthy Market Growth
• Future for Gas-Insulated Transformers Appears Bright
• IEC Standards for Gas-Insulated Transformers
• Powerformer: A Superior Replacement for Step-Up Transformer
• Innovative On-load Tap Changers (OLTCs) Improves Reliability and Safety
• Global T&D Vision of Increasing Renewable Energy in Power Systems Benefit Market Prospects for T&D Equipment
• Rising Utility Investments in Power T&D Infrastructure for Transitioning to the Smart Grid Standard Drive Market Adoption
• Power Infrastructure to Experience Considerable Transformation Driven by Technology Innovations
• Distribution Transformers with On-Load Tap Changers to Play Critical Role in Smart Grids
• Microgrids: Critically Important in Fulfilling Domestic Demand, Improving Reliability, and Enabling Local Control
• Smart Power Distribution Gains Momentum
• Myriad Benefits and Superior Attributes over Traditional Transformers Drive Strong Demand for Smart Transformers
• Smart Transformers for Smarter Power Transmission and Distribution
• Growing Need to Curtail Energy Loss and Achieve Energy Savings Drive Demand for Distribution Transformers
• Huge Savings Potential of Higher Efficiency Distribution Transformers
• Efforts for Making Energy Performance of Distribution Transformers More Visible
• Universal Adoption of MEPS Needed for More Savings
• Economic Incentives Encourage Distribution Networks to Adopt Higher Efficiency Transformers
• Public Policies Concerning Transformers at the Product, Utility and Market Levels
• Switchgears: The Dominant Product Category Continue to Witness Growing Demand
• Technological Breakthroughs Support Switchgears Growth
• Upgrade of Obsolete Systems to Spur Demand for Switchgears
• Switchgear Equipment to Benefit from Recovery in Residential and Commercial Construction
• Percentage Contribution to Growth in Global Construction Output by Major Countries over the Period 2010-2022
• Energy Storage Set to Disrupt Investments in Transmission and Distribution Infrastructure
• Growing Threat of Global Warming Stokes Demand for Green Distribution Transformers
• Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
• Green Transformer Program Supports Environmental Protection
• Transformers Going Green, Ester Used for Insulation Purposes
• Natural Ester Fluid-Based Amorphous Transformers
• Exponential Increase in Global Population & Urbanization Rate: A Mega Trend Favoring Market Expansion
• New Infrastructure, Upgrade, and Expansion Projects in Developing Countries Offer Immense Growth Potential
• Rural Electrification Drive in Developing Countries Promote Growth
• Aging Power T&D Infrastructure Underscores Need for Replacement and Upgrades in Developed Markets
• Stabilizing Regulatory Environment Augurs Well for the Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/u31e5t

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900