Power Transmission Component Market Demand, Business Trend, Opportunities and Segmentation to 2023

Posted September 16, 2019 by DhanashreePawar

The report summarizes market review of the key segments in the market such as by Component, by Voltage, by Current Level and Region.

Power Transmission Component Market Scenario

Power transmission components are designed to render long-term savings by providing uninterrupted power supply. The power transmission component market would experience growth subject to the ongoing refurbishment and retrofitting of existing grid infrastructure across the globe. The global power transmission component market is estimated to expand at 6.55% CAGR during the forecast period.

Transmission component refers to the products that are used in transmission network with moving parts from a power generating site such as a power plant to an electrical substation. Power transmission components are designed to render long-term savings by providing uninterrupted power supply. Rising investments coupled with favourable political outlook towards the expansion of cross border electric networks would further boost the product demand.

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Industry Highlights

The growing demand for power transmission component market is attributed to the increasing energy demand and refurbishment of existing grid infrastructure. According to the New Energy Outlook 2018 by Bloomberg NEF, global electricity demand would reach 38,700 terawatt-hours by 2050 from 25,000 terawatt hours in 2017, owing to rising urbanization, growing population, rise in infrastructure activities, and enhanced access to electricity across the globe. This would accelerate the demand for power transmission component market. One of the major restraints for the global power transmission component market is the high cost of initial investment in transmission components.

Power Transmission Component Industry Segmentation

Based on component, the market is segmented as transformer, circuit breaker, isolator, insulator, arrestor, transmission line, transmission tower. Circuit Breaker segment is estimated to dominate the market during the forecast period s they are installed to minimize the loss of electricity during transmission.

The power transmission component market has been segmented based on voltage into 132 kV, 220 kV, 440kV, 660kV, and >764 kV. Among these voltage ranges, 132 kV is the fastest growing segment in the power transmission component market due to ongoing commercial establishments and rising urbanization coupled with a continuing expansion of smart grid networks.

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Leading Players

The key players of the global power transmission market are ABB (Switzerland), Siemens (Germany), Schneider (France), Emerson (US), General Electric (US), Eaton (Ireland), Crompton Greaves (India), Toshiba (Japan), Sterlite (India), and Hitachi (Japan), among others.

Scope of the Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global power transmission component market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.

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Issued By MRFR
Country India
Categories Business , Energy
Tags power transmission component market , power transmission component market analysis , power transmission component market demand , power transmission component market growth
Last Updated September 16, 2019