Robust Grid Expansions and Replacements Drive the Global Transmission and Distribution Equipment Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) September 15, 2014 -- Follow us on LinkedIn – Electric power transmission and distribution equipment play a critically important role in voltage conversion and in supplying power to consumers. Electric power transmission involves bulk transfer of high voltage electrical energy generated by electric power plants and electrical grid substations to sub-stations at demand centers through transmission lines. When inter-connected with each other, transmission lines become transmission networks. Electricity distribution involves final stage delivery of electricity from sub-stations to end-users through distribution network inclusive of local distribution poles and local wiring. Given that storage of electricity is an expensive proposition, electric power is produced, delivered and consumed almost simultaneously thereby demanding highly efficient transmission and distribution equipment.
Growth in the world electric power transmission and distribution (T&D) equipment will be driven by growing population, higher standards of living, increase per capita electricity consumption, ongoing industrialization in developing countries, and rising environmental awareness. Against the backdrop of growing consumption of energy in residential, commercial and industrial markets, demand for equipment for generation, transmission and distribution of electricity is expected to escalate. The market will continue to benefit from the numerous measures taken by governments across the globe to ensure energy self-sufficiency and eliminate shortages in power supply. Future growth will also be driven by the constant need to replace the fast aging installed base of existing power transmission and distribution equipment. Regulatory mandates for bringing improvements in grid reliability will additionally make upgradation obligatory thus benefiting market demand.
Technology innovations over the years have enabled T&D equipment to become highly miniaturized as well as efficient in minimizing power losses. Grid harmonization and automation is expected to drive the market for energy efficient new generation T&D equipment. Smart Grids represent a vital component of modern day power system enabling power supply with higher reliability. Other recent advancements poised to benefit market prospects in the near term include Whispering transformers, Dry transformers, Amorphous Metal Transformers (AMTs), and wireless power transmission technology, among others.
As stated by the new market research report on Electric Power Transmission and Distribution Equipment, Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 7.8% over the analysis period. Increasing investments in the power sector, rapid economic development, improvement in standards of living, development of new urban settlements and townships and expanding real-estate activity in existing urban centers are driving the development of power transmission and distribution infrastructure in the region.
Key players covered in the report include Alstom, Asea Brown Boveri (ABB), Acme Electric, Bharat Heavy Electricals Limited (BHEL), Changzhou XD Transformer Co., Ltd., Crompton Greaves Ltd., DAIHEN Corporation, Eaton Corporation Plc, EFACEC, Emerson Industrial Automation, Federal Pacific Company, G&W Electric Company, General Electric Company, Hammond Power Solutions Inc., Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co., Ltd., Kirloskar Electric Company Limited, Larsen & Toubro Limited, Mitsubishi Electric Corporation, Powell Industries, Inc., Powertech Transformers (Pty) Ltd., Schneider Electric SA, and Siemens (Energy Sector) AG, among others.
The research report titled “Electric Power Transmission and Distribution Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, challenges, mergers, acquisitions and other strategic industry activities of major companies worldwide. Global market estimated and projections are provided in terms of US dollars for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product Segments analyzed in the report include Transformers, Switchgears, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Electric_Power_Transmission_and_Distribution_Equipment_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 (408) 528-9966, [email protected]
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