The global energy ecosystem is undergoing a substantial transformation. The players in the market are shifting focus from traditional large-scale infrastructure to clean, sustainable and renewable energy. This has resulted in increasing use of the digital or smart technology. Thus, rapid integration of digitalized electrical components is resulting in increasing need for up-gradation in the transmission and distribution system which is one of the major factors expected to drive market growth.
“Global Energy Distribution and Transmission Market (by Product Type, Method of Transmission, and Region), Revenue Share, Growth Rate and Forecast: 2020 to 2029” – one of the latest reports published by Market.us. The global energy distribution and transmission market was valued at US$ 14 Billion in 2019. The global market is projected to reach a value of more than US$ 20 Billion in 2029, and register CAGR of 6.1%.
Energy Distribution and Transmission: Product Overview
Energy distribution and transmission comprises various product types such as conductors, transformers, towers, protection devices and other related products. Conductors transfer electric power. Most high-voltage conductors are made of aluminum with a steel core that provides the essential strength to cable. Transforms are the electric devices that can transfer the electrical energy from one DC circuit to one or more circuits. Transformers are static electric devices that can be used for either stepping-up or stepping-down the voltage. Towers: This has a tall structure, typically a steel lattice tower, used to assist an overhead power line. The towers are used in high-voltage DC systems.
Protection Devices: These devices are used for the protection of electrical power systems from faults due to the interruption of faulted parts from the rest of the electrical network. The purpose of using protection devices is to stabilize the power system. Other products include ground cables, spacers, and guy-wires used in energy distribution and transmission.
Segment and Region Snapshot: Global Energy Distribution and Transmission Market
By Product Type: The conductors segment is expected account for majority revenue share in the global energy distribution and transmission market with an attractiveness index of 4.1 and revenue from this segment is projected to expand at highest growth rate of over 6.6%. By Method of Transmission: The overhead lines segment is projected to dominate in the global energy distribution and transmission market with an attractiveness index of 9 and this segment revenue is expected to grow at a rate of over 6%. By Region: The Asia Pacific market is expected to account for highest revenue share in the global energy distribution and transmission market with an attractiveness index of 5.2 and is expected to register comparatively higher CAGR of more than 6.3%.
Major Key Players:
1. ABB Ltd.
2. Bharat Heavy Electricals Limited
3. Alstom SA
4. Diamond Power Infrastructure Limited
5. General Electric Company
6. Siemens Aktiengesellschaft
7. Schneider Electric SE
8. DAIHEN Corporation
9. Eaton Corporation plc
10. Mitsubishi Electric Corporation
11. PFISTERER Group
12. ASTOR TRANSFORMER A.S.