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Power Transmission and Distribution Equipment - Global Strategic Business Report

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    Report

  • 1408 Pages
  • September 2023
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 992761

Quick Summary:

As the energy sector transforms rapidly, high-quality insights and understanding prove vital to navigate this dynamic and competitive market. The Global Power Transmission and Distribution Equipment Market report provides a comprehensive examination of this industry, estimated at US$243.8 Billion in 2022 — a value projected to rise to a remarkable US$378.7 Billion by 2030.

The report dives deep into each market component, including a rigorous analysis of the Wire & Cable segment that is set to record a 5.3% CAGR, achieving US$126.5 Billion by 2030. Striking insights into pivotal markets such as the US and China uncover seasoned opportunities for growth. The report also includes a detailed competitive analysis of over 450 featured companies, alongside exclusive data on market trends and market presence across different geographies. Stay ahead of industry developments with this illuminating research.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US$6 trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global Power Transmission and Distribution Equipment Market to Reach $370.4 Billion by 2030

The global market for Power Transmission and Distribution Equipment estimated at US$243.4 Billion in the year 2022, is projected to reach a revised size of US$370.4 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030. Wires & Cables, one of the segments analyzed in the report, is projected to record 4.5% CAGR and reach US$107.4 Billion by the end of the analysis period. Growth in the Switchgear segment is estimated at 6.1% 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$95.7 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 3.4% and 4.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Select Competitors (Total 500 Featured)

  • 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.
  • HD Hyundai Electric Co. Ltd.
  • Hubbell Incorporated
  • Imefy Group
  • JiangSu HuaPeng Transformer Co., Ltd. (JSHP)
  • Kirloskar Electric Company Limited
  • KONCAR Electrical Industry Inc.
  • Larsen & Toubro Limited
  • Mitsubishi Electric Corporation
  • Pfisterer Holding AG
  • Pioneer Power Solutions, Inc.
  • Prysmian Group
  • S&C Electric Company
  • Schneider Electric S.E.
  • SGB-SMIT Group
  • Siemens AG
  • Toshiba Energy Systems & Solutions Corporation
  • Wilson Power Solutions Ltd.
  • Wilson Transformer Company Pty Ltd.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • The Quest for Reliable, Cost-Effective, Efficient, and Sustainable Electricity System Begins With T&D Equipment. Here’s Why
  • Global Economic Update
  • Although Declining for the First Time Since the Russia-Ukraine War, Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn Will Take Inflation Longer Than Expected to Fall: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
  • Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
  • Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
  • Competition
  • Power Transmission and Distribution Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Power Transmission and Distribution Equipment: Definition, Overview, Types & Evolution
  • Market Structure & Outlook
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Electricity Consumption Spurs Investments in T&D Equipment
  • Supplying Cost-Effective, Reliable Electricity Will Always Be a Priority Amid Rising Electricity Demand, Making T&D Equipment a Valuable Investment: Global Electricity Consumption (In Exajoules) for Years 2020, 2025. 2030, 2035, 2040, 2045 and 2050
  • Growing Frequency of Power Outages & Its Negative Impact on Economy & Business Accelerates the Urgency to Replace Aging Transformers
  • Average Number of Power Outages in Firms Per Month, Worldwide by Region: 2022
  • The Business Case for Transformer Replacements, Explained
  • 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
  • % of Rail Network Electrified in Europe by Country for the Year 2023
  • Aging Energy Infrastructure & the Resulting Rise in Power Infrastructure Upgrades & Utility Digitalization Drives Opportunities for Growth in the Market
  • Spending Gaps & Deficits Highlights the Urgency of Upgrades & Modernization: Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
  • 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
  • Global Movement Towards Sustainability Makes Strong Progress as Suffocating Spike in Emissions Shifts Focus on Securing a Safer Future for the World: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021, 2022 & 2023
  • Switchgears, the Dominant Product Segment Continues to Witness Growth
  • Switchgear Innovations Bodes Well for Market 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
  • Digital Twins Emerge Into the Spotlight for Their Ability to Transform Power T&D Equipment Management
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Power Transmission and Distribution Equipment Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Power Transmission and Distribution Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Power Transmission and Distribution Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 4: World 16-Year Perspective for Power Transmission and Distribution Equipment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for Wires & Cables by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 6: World Historic Review for Wires & Cables by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 7: World 16-Year Perspective for Wires & Cables by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Switchgear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Switchgear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 10: World 16-Year Perspective for Switchgear by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Transformers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Transformers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 13: World 16-Year Perspective for Transformers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Meters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Meters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 16: World 16-Year Perspective for Meters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Other Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Other Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 19: World 16-Year Perspective for Other Product Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 20: World Recent Past, Current & Future Analysis for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 21: World Historic Review for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 22: World 16-Year Perspective for Utilities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 23: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 24: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 25: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 26: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 27: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 28: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 29: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 30: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 31: World 16-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Power Transmission and Distribution Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • Power Transmission and Distribution Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Power Transmission and Distribution Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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.