Power T&D Equipment Market Analysis:
The global Power T&D Equipment Market size will grow at a favorable 7.35% CAGR by 2030, states the new Market Research Future (MRFR) report.
The global Power T&D Equipment Market is growing rapidly. Power generation companies are rapidly enhancing their renewable capacities and establishing high-power solar photovoltaic projects. The scope of these packages involves the supply, design, engineering, construction, testing, commissioning, and O&M of grid-connected solar PV plants. Besides, market growth attributes to the rising demand for power.
Augmenting demand for efficient power management and constant upgrade activities of aging grid infrastructure increase the market size. Additionally, rapid industrialization and growing demand for power T&D equipment in various utilities to ensure a regular uninterrupted power supply create vast opportunities.
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Report Attribute/Metric
Details
CAGR
7.35% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Application
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Global Power T&D Equipment Market – Segmentation
The report is segmented into types, applications, and regions. The type segment is sub-segmented into transformers, switchgears, circuit breakers, inductor & capacitors, meters, fuses & equipment, and others. The application segment is sub-segmented into utilities, commercial, residential, industrial, and others. By regions, the market is sub-segmented into North America, Europe, APAC, and the rest of the world.
Power T&D Equipment Market – Geographical Analysis
North America leads the global power T&D equipment market. The region perceives many old transmission and distribution infrastructures, creating a need for installing power T&D equipment. Besides, the largest market share attributes to the increase in the share of renewable energy sources and the growing need for T&D networks upgrades in the region.
The region is also witnessing high investments in increasing energy efficiency and third-party energy efficiency programs and decreasing technology prices. Moreover, technological advancements and increased adoption of automation across end-use industries boost the market size.
Power T&D Equipment Market – Competitive Analysis
Highly competitive, the power T&D equipment market appears fragmented due to the presence of several well-established players. Major players adopt strategic approaches such as mergers & acquisitions, collaborations, and product/technology development to gain a larger competitive share. Substantial investments are transpired to develop products and expand global footprints.
Industry/ Innovation/ Related News
Nov.10, 2020 --- Schneider Electric, a leading provider of digital transformation of energy management and automation, announced its innovations for a net-zero future free of fluorinated gases. The company has joined eight other leading electrical transmission and distribution (T&D) equipment manufacturers committed to innovating beyond the use of F-gases.
As the most sustainable corporation, Schneider Electric pursues every opportunity to help its customers decarbonize faster. Reduced SF6 and F-gases use in energy networks and buildings helps address the climate emergency & environmental concerns and achieve ambitious net-zero targets faster.
Major Players:
Players leading in the market are Schneider Electric (France), Hitachi ABB Power Grids (Switzerland), Siemens (Germany), Mitsubishi Electric Corporation (Japan), Eaton Corporation (Ireland), Hammond Power Solutions (Canada), General Electric (US), Toshiba Corporation (Japan), TE Connectivity (Switzerland), Fuji Electric Co. Ltd (Japan), Powell Industries Inc. (US), Bharat Heavy Electricals Limited (BHEL) (India), Basler Electric Company (US), Chint Group (China), CG Power and Industrial Solutions Limited (India), S&C Electric (US), G&W Electric (US), Itron (US), and Landis+GYR (Switzerland), among others.
