July 28, 2020
According to the research report titled ‘Global Transmission and Distribution Equipment Market: Analysis By Equipment Type, By Switchgear Type, By voltage Type, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)-- By Switchgear Type (Circuit Breakers, Relays, Switches, Fuses, Instrument Transformers), By voltage Type, available with Market Study Report LLC, global transmission & distribution market is expected to grow with a CAGR of 7.25% during 2019-2024.
Rapid urbanization and favorable government initiatives towards the expansion of power sector are major aspects driving the growth of transmission & distribution market. Growing electricity demand and increasing industrial and manufacturing processes are also fueling the market size. Focus towards installing large power plants in develop countries is stimulating the industry outlook.
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Growing power supply and demand along with increasing utilization of electrical products such as transformers and switchgears in order to transmit high voltages over long distances are favoring the market scenario. Rising power generation capacity, growing population, and swift industrialization are other factors positively influencing the market growth.
The research report on global transmission & distribution equipment market offers significant information regarding this industry vertical. It comprises of details related to the growth factors, challenges & limitations, market share, and size. It also highlights the growth rate the overall market is expected to record in the ensuing years. The document elaborates on the various market segmentations and provides vital data regarding the regional scope and competitive scenario for further investment evaluation.
As per equipment type, global transmission & distribution equipment industry is segmented into inductors & capacitors, meters, transformers, switchgears and others. In terms of voltage type, the market is divided into high voltage, medium voltage and low voltage.
Based on regional terrain, the market is split into Middle East & Africa, Asia-Pacific, Europe, and Americas with key focus on India, Japan, China, UK, Italy, Germany, Rest of Europe, Brazil, Mexico, Canada, and United States.
Fuji Electric Co. Ltd., TBEA Co. Ltd., China XD Group, Bharat Heavy Electricals Limited (BHEL), Eaton Corporation Plc, ABB Ltd., Mitsubishi Electric Corp., GE Co., Siemens GE and Schneider Electric are the prominent companies operating in global transmission & distribution equipment market.