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The global market for Power Transmission and Distribution Equipment is projected to exceed US$200 billion by 2024, driven by the ever-present demand for energy; growing trend towards distributed energy generation; and rising investments in smart grids. Other major factors also poised to drive growth in the market include improvements in the design and architecture of transformers; rising prominence of ultra-high-voltage (UHV) transmission systems; development of multi-terminal HVDC transmission systems with HVDC circuit breakers; and popularity of intelligent smart distribution systems. Rising demand for long-distance energy transmission is forecast to fuel demand for high-voltage direct current (HVDC) technology, given its ability to connect power grids from remote places and allow delivery of power without energy losses or outages.
With the cost of energy as high as 7.5% of GDP, there is considerable focus shed on energy-efficient production, transmission and distribution of power in order to minimize energy losses and lower the lifecycle costs of power generation equipment. Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 5.8% over the analysis period led by factors such as developing economies; rapid industrialization; vigorous infrastructural development; increasing investments in UHVDC; government policy led prioritization of domestic energy infrastructure development; and increased R&D in transformer innovations by manufacturers.
Select Competitors (Total 192 Featured):
With the cost of energy as high as 7.5% of GDP, there is considerable focus shed on energy-efficient production, transmission and distribution of power in order to minimize energy losses and lower the lifecycle costs of power generation equipment. Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 5.8% over the analysis period led by factors such as developing economies; rapid industrialization; vigorous infrastructural development; increasing investments in UHVDC; government policy led prioritization of domestic energy infrastructure development; and increased R&D in transformer innovations by manufacturers.
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.
- KON?AR - Electrical Industry Inc.
- Mitsubishi Electric Corporation
- Schneider Electric SE
- SGB-SMIT GmbH
- Shihlin Electric & Engineering Corporation
- Siemens AG
- Wilson Power Solutions Ltd.
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
III. MARKET ANALYSIS
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Electric Power Transmission and Distribution (T&D) Equipment: A Prelude
- Electricity Generation and Transmission Ecosystem
- Types of Power Transmission and Distribution Equipment
- Wires and Cables
- Types of Power Wires and Cables
- Switchgears
- Medium-Voltage Switchgears
- Insulation Medium Remain Vital in Switchgears
- High-Voltage Switchgears
- Power & Distribution Transformers
- Transformers Overview
- Categorization of Distribution Transformers based on Their Capacities
- Architecture of Transformers
- What Does a Transformer Do?
- Power Transmission and Distribution (T&D) Equipment: The Cornerstone of a Reliable, Cost-Effective, Efficient, and Sustainable Electricity System
- Surging Energy Consumption and the Resulting Rise in Power Production, Transmission and Distribution: Foundation for Market Growth
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Primary Energy Consumption (Billion toe) by End-Use Sector (1995, 2017 and 2040)
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Transformations in Power Transmission Technology over the Years
- Global Market Outlook
- Improving Economy Buoys General Market Optimism
- Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
- Competitive Landscape
- Power T&D Equipment Marketplace: Moderately Consolidated
- ABB: The Largest Transformer Company in the World Built by Path-breaking Innovations
- ABB Dominates the High Voltage Power Transmission Market
- Market Share Breakdown of Leading Players in the Global High Power Transmission Equipment, Systems and Services Market (2018)
- ABB’s Portfolio of High-Efficiency Distribution Transformers
- Market Share Breakdown of Leading Players in the World Distribution Transformers Market (2018)
- Competitive Pressures Continue to Build Up in Power T&D Equipment Business
- Noteworthy Mergers, Acquisitions & Divestitures during the Years 2005 to 2019
- Key Corporate Developments
- Smart Grid T&D Equipment: Competitive Vendor Landscape
- Volatile Raw Material Prices: A Key Cause for Concern for Manufacturers
- Raw Material Prices Alter Transformer Designs
- ABB Limited (Switzerland)
- ABB Kuhlman (USA)
- ASTOR TRANSFORMER A.S (Turkey)
- Bharat Heavy Electricals Limited (India)
- CG Power and Industrial Solutions Limited (CG) (India)
- DAIHEN Corporation (Japan)
- Diamond Power Infrastructure Limited (India)
- Eaton Corporation plc (Ireland)
- GE Grid Solutions, LLC (USA)
- Hammond Power Solutions, Inc. (Canada)
- Howard Industries, Inc. (USA)
- Hubbell Incorporated (USA)
- Hyundai Electric & Energy Systems Co., Ltd. (South Korea)
- Imefy Group (Spain)
- JiangSu HuaPeng Transformer Co., Ltd. (JSHP) (China)
- Kirloskar Electric Company Limited (India)
- KONČAR - Elektroindustrija d.d. (Croatia)
- Larsen & Toubro Limited (India)
- Mitsubishi Electric Power Products, Inc. (USA)
- Pioneer Power Solutions, Inc. (USA)
- Bemag Transformer (Canada)
- Prysmian Group (Italy)
- Regal Beloit Corporation (USA)
- S&C Electric Company Inc. (USA)
- Schneider Electric S.E. (France)
- SGB-SMIT Group (Germany)
- Siemens AG (Germany)
- SPX Transformer Solutions, Inc. (USA)
- TBEA Co., Ltd. (China)
- Toshiba Energy Systems & Solutions Corporation (Japan)
- Wilson Power Solutions Ltd. (UK)
- Wilson Transformer Company Pty Ltd. (Australia)
- Key Drivers and Challenges in Brief
- Growing Demand for New-Age Power Transformers Offering Greater Reliability, Efficiency, Resilience, and Durability Drive Healthy Market Growth
- Self-Cooling Transformers from ABB
- An Ester Fluid-based Phase Shifting Power Transformer by Siemens
- Hybrid Power Transformers Technology
- Energy Efficient and Eco-Friendly Power Transformers
- Innovative Alternative Fluids
- Design Innovation in Large Power Transformers
- Dryformers by ABB
- Superconductor Based Power Transformers
- HTS Transformers: Energy Efficient, Lightweight, and Small Sized
- Gas-Insulated Power Transformers
- 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
- World Energy Production (in Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040
- Rising Utility Investments in Power T&D Infrastructure for Transitioning to the Smart Grid Standard Drive Market Adoption
- Global Investments in Smart Grids by Category (2017 & 2020): Breakdown of Investments (US$ Million) for Transmission Modernization, Distribution Automation, Networks Operations Software, Advanced Metering Infrastructure (AMI), and Others
- Power Infrastructure to Experience Considerable Transformation Driven by Technology Innovations
- Novel Hardware Components Set to Emerge
- 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
- Global Smart Transformers Market: Annual Revenue Figures in US$ Million for Years 2014, 2016, 2018 & 2020
- Smart Transformers for Smarter Power Transmission and Distribution
- Growing Need to Curtail Energy Loss and Achieve Energy Savings Drive Demand for Distribution Transformers
- Global Installed Capacity (GVA) of Distribution Transformers by Region: 2005-2030
- Huge Savings Potential of Higher Efficiency Distribution Transformers
- Key Barriers to Adoption of Higher Efficiency Distribution Transformers
- The Integrated Policy Approach for Transition to 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
- Need for Policy Frameworks
- 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
- Global Construction Output by Country (2016): Breakdown of Construction Output (US$ Billion) and Percentage Change by 2022
- Percentage Contribution to Growth in Global Construction Output by Major Countries over the Period 2010-2022
- Global Construction Market (2017 & 2020): Percentage Breakdown of Construction Spending by Region
- Energy Storage Set to Disrupt Investments in Transmission and Distribution Infrastructure
- Evolving Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks
- Global Spending on Smart City Infrastructure by End-Use (2017 & 2020): Breakdown of Spend (Hardware, Software, and Services) in US$ Billion for Buildings & Homes, Education, Industry Automation, Power Supply, Security, and Others
- Number of Smart Cities Worldwide (2013-2020)
- Number of Smart Cities Worldwide by Geographic Region (2025)
- Number of Smart Homes Worldwide (in ‘000 Households) by Select Country for Years 2015 & 2020
- Global Connected Home Devices by Type (2015, 2017 & 2020): Breakdown of Shipments (in Million Units) for Smart Home Energy, Smart Home Security, Smart Appliances, and Other Systems
- 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
- Benefits of Low-Loss Transformers
- Transformers Going Green, Ester Used for Insulation Purposes
- Advantages of Natural Ester Fluid
- Natural Ester Fluid-Based Amorphous Transformers
- Exponential Increase in Global Population & Urbanization Rate: A Mega Trend Favoring Market Expansion
- World Population (Millions) and Urbanization Rate (%) by Region/Country: 2016 & 2040
- New Infrastructure, Upgrade, and Expansion Projects in Developing Countries Offer Immense Growth Potential
- Global Power Transmission and Distribution Equipment Market: Geographic Regions Ranked by Value % CAGR for 2018-2025
- Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India and Latin America Over the Period 2010-2030
- 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
- Proposed/Approved Standards for Transformers in Select Countries
- Innovations and Advancements
- IoT Technologies for Power Transmission
- Wireless Power Transmission
- High Voltage Transmission (HVT) Lines
- Significance of Extra High Voltage (EHV)
- EHV-Related Issues and Solutions
- High Voltage Transmission Deployment Gain Traction
- Overhead Lines (OHLs)
- Ultra-HVDC Transmission Lines
- HVDC Transmission Lines for Transmitting Renewable Energy to Remote Places
- Intelligent Transformer Substations
- Intelligent Solutions for Distribution Grids
- Advanced Design
- Adoption of Regulated Distribution Transformers
- NoTable Smart Transformer Innovations
III. MARKET ANALYSIS
- UNITED STATES
- Urgent Need to Replace and Upgrade Aging T&D Infrastructure Drives Market Growth
- Transmission & Distribution Spending in the US: Cumulative Spending ($ Billion) for the Period 1990-2009 and 2010-2030
- Major Growth Drivers Summarized
- Inadequate and Aging T&D Infrastructure
- Failure of Vital Systems during Storms Resulting in Power Outages
- Need for Reliable Power Supply
- Need for Continuous Enhancements of the Electric Grid
- Regulatory Landscape
- Demand for Outsourced Providers
- Focus on Renewable Energy Generation
- Proliferation of Oil & Gas Production
- Transition from Coal to Natural Gas Generation
- Collaborative Planning
- Expanding Smart Grid Infrastructure Boosts Demand for Smart Transformers
- Smart Transformers to Enhance Flexibility and Cleanliness of Electrical Grids
- Replacement Demand to Drive Spending on Larger Power Transformers (LPTs)
- US Transmission & Distribution Spending for the Period 2011-2035: Percentage (%) Breakdown of Spending for New Equipment and Replacements
- Bourgeoning Electricity Demand Provides the Perfect Platform for Market Adoption
- Electricity Demand (Billion KWh) in the United States: 1980-2040
- Steady Penetration of Renewable Energy in Power Generation Set to Support Growth
- Rising Share of Renewable Energy Demands Supportive Power Grid
- US Net Electricity Generation by Energy Source (2000, 2010, 2020, 2030 & 2040): Breakdown of Electricity Generation (Billion Kilowatt-hours) from Coal, Natural Gas, Nuclear, Petroleum, and Renewable Energy
- Industrial & Electric Utilities: Dominant End-use Sectors for T&D Equipment
- Presence of Leading Suppliers in Medium and Large Transformers
- Energy Consumption in the United States (2008, 2016 & 2020): Breakdown of Electricity Consumption (in Billion Kilowatt Hours) by Key End-Use Industries
- Electric Utilities to Benefit from Energy-Related Technology Disruptions in Silicon Valley
- North American T&D Infrastructure: A Macro Perspective
- CANADA
- JAPAN
- Recent Energy Sector Transformation and Focus on Renewable Energy Sustain Market Growth
- Japan’s Power Generation by Energy Source (2005, 2015, 2030): Percentage Breakdown for Coal-fired Thermal Power, Gas-fired Thermal Power, Nuclear Power, Oil-fired Thermal Power, and Renewable Energy
- CHINA
- Government Efforts to Address the Country’s Power Requirements Drive Strong Market Growth
- Electricity Consumption in China: 2009-2018 (in Billion kWh)
- The Northwest and Southeast China to Bolster the Demand for Electric T&D Equipment
- Industry Moves towards High-Voltage Transformers
- Issues Persist in the Chinese Transformer Industry
- Chinese Transformers Industry: Highly Competitive at the Lower End
- Percentage Market Share Breakdown for Leading Transformer Companies in China (2018)
- EUROPE
- Europe: A Matured yet Growing Market for Power T&D Equipment
- PowerGrid Program to Redefine Future of Power Transmission
- Market Prospects to Benefit from the Evolution of Smart Grids
- EU Proposes New Ecodesign Energy Efficiency Standard for Transformers
- Competitive Landscape
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- Asia-Pacific: The Largest Power T&D Equipment Market Worldwide
- Developing Countries Offer Significant Growth Opportunities
- Rural Electrification in Asian Countries Promote Growth
- Railway Electrification and High Speed Railway Projects Benefit Market Growth
- AUSTRALIA
- Australia and New Zealand: Replacement Demand is the Key Growth Driver
- INDIA
- Overview of India’s Power Distribution Sector
- Government’s Power-for-All Initiative to Drive Demand for Power Transformers
- India Embarks on Mitigating T&D Losses under GST Regime
- Opportunities Galore for Indian Transformer Manufacturers
- Overseas Players Keenly Eye Indian Shores, Market Headed for Consolidation
- Switchgears Manufacturers Upgrade Technology to Meet Market Demand
- Pricing Pressures Hamper Margins of Switchgear Manufacturers
- The Indian Electrical Equipment Industry: A Macro Perspective
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- Rising Electricity Consumption to Drive Market Demand
- Brazil Power Sector: Largest and the Fastest Growing in Latin America
- Electricity Generation
- Transmission and Distribution of Power (T&D)
- Opportunities for T&D Equipment Providers in the Power Sector
- MEXICO
- A Niche Regional Market
- REST OF LATIN AMERICA
- MIDDLE EAST
- Energy Infrastructure Needs in the Middle East Drive Market Growth
- Upgrade of Electric Power and Distribution Infrastructure Drive Demand in Saudi Arabia
- Saudi Arabia’s Ambitious Solar Energy Plans to Boost Smart Grids
- IRAN
- ISRAEL
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- AFRICA
- Energy Challenges Open Avenues for Huge Investment Opportunities in Africa
- Growing Investments in Large-Scale Power Infrastructure Projects Bodes Well for the African Market
- Total Companies Profiled: 192
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