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Power Transmission and Distribution Equipment - Market Analysis, Trends, and Forecasts

  • ID: 992761
  • Report
  • January 2020
  • Region: Global
  • 1051 Pages
  • Global Industry Analysts, Inc
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The Power Transmission and Distribution Equipment market worldwide is projected to grow by US$74.3 Billion, driven by a compounded growth of 4.3%. Wire & Cable, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.4%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$100 Billion by the year 2025, Wire & Cable will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 3% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$797.3 Million to the region's size and clout in the next 5 to 6 years. Over US$1.5 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Wire & Cable will reach a market size of US$2.4 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6% over the next couple of years and add approximately US$23.1 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:
  • ABB Limited
  • ASTOR TRANSFORMER A.S
  • Bharat Heavy Electricals Limited
  • CG Power and Industrial Solutions Limited
  • DAIHEN Corporation
  • Diamond Power Infrastructure Limited
  • Eaton Corporation plc
  • GE Grid Solutions, LLC
  • Hammond Power Solutions, Inc.
  • Howard Industries, Inc.
  • Hubbell Incorporated
  • Hyundai Electric & Energy Systems Co., Ltd.
  • Imefy Group
  • JiangSu HuaPeng Transformer Co., Ltd.
  • Kirloskar Electric Company Limited
  • KONCAR - Elektroindustrija d.d.
  • Larsen & Toubro Limited
  • Mitsubishi Electric Power Products, Inc.
  • Pioneer Power Solutions, Inc.
  • Prysmian Group
  • Regal Beloit Corporation
  • S&C Electric Company Inc.
  • Schneider Electric S.E.
  • SGB-SMIT Group
  • Siemens AG
  • SPX Transformer Solutions, Inc.
  • TBEA Co., Ltd.
  • Toshiba Energy Systems & Solutions Corporation
  • Wilson Power Solutions Ltd.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Electric Power Transmission and Distribution (T&D) Equipment: A Prelude
Electricity Generation and Transmission Ecosystem
Types of Power Transmission and Distribution Equipment
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
Power Transformers Cost Breakdown
Raw Material Prices Alter Transformer Designs

2. FOCUS ON SELECT PLAYERS
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)

3. MARKET TRENDS & DRIVERS
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

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
GEOGRAPHIC 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
Market Analytics
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
Market Analytics
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)
Market Analytics
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
Market Analytics
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
Market Analytics
AUSTRALIA
Australia and New Zealand: Replacement Demand is the Key Growth Driver
Market Analytics
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
Market Analytics
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
Market Analytics
MEXICO
A Niche Regional Market
Market Analytics
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
Market Analytics
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
Market Analytics

IV. COMPETITION
Total Companies Profiled : 171 (including Divisions/Subsidiaries - 192)
Note: Product cover images may vary from those shown
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