The Global Power Transmission Market was valued at USD 81.14 billion in the year 2020. The global Power Transmission market is observing lucrative growth due to the growing automation in factories, rising adoption of international standards for electricity efficiency, development of user-friendly electric products, and increasing production of electric components.
The major factors driving the market for Power Transmission is the growing urbanization across the world and various initiatives undertaken by governments of various regions to establish home-grown industries where power transmission is necessary. An increasing number of large power infrastructure investments in both developed and developing countries is also one of the major factors amplifying the demand for power transmission.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the power transmission market in 2020 as demand for utility services from industrial and commercial establishments decreased due to trade restrictions and lockdowns imposed by governments globally. Many manufacturing facilities globally halted operations to contain the spread of the virus among their workforce, thereby limiting the need for utility services such as electricity and wastewater treatment.
In Components, Transformer segment holds a large share in the Power Transmission Market as transformer used primarily to receive low voltage generator electric power and transmit it across distribution channels across the power grid network. It forms a crucial part of the power grid and helps in the transmission of power from one network to the other without change in frequency.
Among the Voltage segment, 132 kV Segment is expected to hold the largest share of the Power Transmission Market as high voltages are used in transmission systems because higher voltage implies a lower current for a given power of transmission. With a lower current, less heat is generated in the transmission lines and so less energy is wasted.
Within the industrial sector, manufacturing accounts for the largest share of annual industrial power consumption, generally followed by mining, construction, and agriculture. The biggest single uses of electricity in the commercial sector are lighting and heating, ventilation, and air conditioning.
Scope of the Report
ï¿½ The report presents the analysis of the Power Transmission market for the historical period of 2016-2020 and the forecast period of 2021-2026.
ï¿½ The report analyses the Power Transmission Market by Components (Transformer, Insulator, Transmission Lines, Transmission Towers, Others).
ï¿½ The report analyses the Power Transmission Market by Voltage (132 kV, 220 kV, 440 kV, 660 kV, 765 kV & above).
ï¿½ The report analyses the Power Transmission Market by End-Use (Commercial, Industrial).
ï¿½ The Power Transmission Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, China, Japan, India).
ï¿½ Also, the attractiveness of the market has been presented by region, Components, Voltage, End-Use.
ï¿½ Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
ï¿½ The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include ABB Ltd., Gates Industrial Corporation, Eaton Corporation, Mitsubishi Electric, Fuji Electric Co., General Electric, BHEL, Schneider Electric, Hitachi, Siemens AG.
Key Target Audience
ï¿½ Power Transmission and Distribution Companies
ï¿½ Consulting and Advisory Firms
ï¿½ Government and Policy Makers
ï¿½ Regulatory Authorities
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