Electric Transmission & Distribution Equipment Market to Reach $ 254 Billion by 2025

Growing demand for energy and increasing technological advancements are expected to drive the global electric transmission & distribution equipment market during forecast period

According to TechSci Research report, “Global Electric Transmission & Distribution Equipment Market By Equipment Type, By Voltage, By End-User, By Region, Competition, Forecast & Opportunities, 2025”, the global electric transmission & distribution equipment market is estimated to reach nearly $ 254 billion by 2025 on account of increasing demand for electricity, new power generation capacity additions and the expansion of electricity transmission and distribution infrastructure, globally. Moreover, electrification of large sectors coupled with digitization of the grids and meters is expected to bolster the growth of global electric transmission & distribution equipment market over the coming years. Furthermore, transition from conventional to modular switchgears across the globe is also expected to positively influence the market through 2025. However, the loss of electrical energy during transmission and distribution is a major concern still left to be tackled. On the other hand, the global electric transmission and distribution equipment market is expected to see a drop in the market value in 2020 due to the COVID-19 lockdown across the globe.

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In terms of voltage segmentation, the market is dominated by low voltage segment and the segment is forecast to dominate the market in the coming years. By end-user segments, the market is segmented into energy and utilities, industrial, commercial and residential. Among them, energy and utilities segment held the largest market share until 2019 and is expected to hold its dominance during the forecast period due to the increasing focus on renewable energy along with the replacement and upgradation of existing power transmission and distribution infrastructure.

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ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Prysmian Group, Xian XD Switchgear Electric, Crompton Greaves, Burns and McDonnell, Power Engineering International, and Sterlite Power are among the leading players operating in the global electric transmission & distribution equipment market. “Asia-Pacific region is anticipated to dominate the global electric transmission & distribution equipment market during the forecast period, which can be attributed to the growth in construction activities, increasing electric access, urbanization and rapid industrialization across the region. Additionally, rising development and adoption of better transmission and distribution equipment is further expected to augment the expansion of the region’s electric transmission & distribution equipment market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based the global management consulting firm.

“Global Electric Transmission & Distribution Equipment Market By Equipment Type, By Voltage, By End-User, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of the global electric transmission & distribution equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global electric transmission & distribution equipment market.

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