Transmission and Distribution (T&D) Equipment Market Research Report
Global Transmission and Distribution (T&D) Equipment Market
The GMI Research forecasts that the Transmission and Distribution (T&D) Equipment Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing demand for power creation, electrification of the transportation sector, and rapid digitalization of the T&D network.
Introduction of the Transmission and Distribution (T&D) Equipment Market
Transmission and distribution (T&D) equipment is mainly used to transfer electricity by various stages through wires and poles from generators to businesses or homes. Transmission means the interstate highway to deliver the electricity in which mass electricity is transferred from the generation sites through long distances to an area with extensive demand for electricity.
Key Players of the Global Transmission and Distribution (T&D) Equipment Market:
Fuji Electric Co., Ltd.
Bharat Heavy Electricals Limited
Mitsubishi Electric Corporation
Transmission and Distribution (T&D) Equipment Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The extension in the industrial activities across emerging countries such as India and China, along with the several government initiatives to accelerate the implementation of renewable energy, are some of the prominent drivers responsible for the growth of the transmission & distribution equipment market. In addition, the augmenting development in the existent power grids followed by the growing demand for electricity stands will further stimulate the transmission & distribution equipment market size. Saudi Vision 2030 points to expand the economy and decrease its dependency on oil. The Ministry of Energy of Saudi Arabia's Renewable Energy Project Development Office, in 2020, proclaimed the appeal to qualify for round three of the National Renewable Energy Program, which would have four solar PV projects comprehending an integrated capacity of 1,200 MW. However, the insufficient digitalisation across the grid infrastructure will hamper the market growth.
Equipment Type Segment Drivers
Based on the equipment type, transformers will expand at a higher CAGR in the near future. This is primarily because of the aggravating demand for electricity from developing countries and the modernization of power. In addition, the increasing inclination towards green transformers such as the GE green power transformer led by its various benefits, such as the potential to prevent pollution by decreasing carbon discharge, will bolster the transmission & distribution equipment market share.
Switchgears Type Segment Drivers
On the basis of the switchgear type, relays are projected to witness significant growth due to the persistent rise in the demand for electricity from different application areas like industrial and commercial. Additionally, various benefits like their capability to abnormalities, including power loss or voltage drop, and to evade accidents and other incidents by stumbling over or actuating a circuit breaker is strengthening the market growth.
Based on the regional coverage, Asia-Pacific is contemplated to experience faster growth in the coming years. This is mainly because of the growing renewable energy projects such as solar and wind in countries like China, the intensifying number of power transmission lines, and the up-gradation of electrical infrastructure. For example, the 14th Five-Year Plan of China for renewable energy assimilates the previous targets for non-fossil energy to offer approximately 20 percent of the primary energy production by the end of 2030.
Transmission and Distribution (T&D) Equipment Market Segmentation:
Segmentation by Equipment Type
Inductors & Capacitors
Segmentation by Switchgears Type
Segmentation by Voltage Type
Segmentation by Region:
United States of America
Rest of APAC
Rest of Europe
Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports. Our research team helps clients understand market dynamics such as size, share, drivers, growth opportunities, and other market aspects. Our team of analysts and industry experts carry out market intelligence studies to ensure relevant and fact-based research across FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Highlighted in the '20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we are always looking forward to helping businesses excel and outshine.
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