Power Transmission Component Market Size By Component (Transformer, Circuit Breaker, Isolator, Insulator, Arrestor, Transmission Line, Transmission Tower), By Voltage Level (132 kV, 220 kV, 440 kV, 660 kV, ≥ 765 kV), Current Level (HVAC, HVDC), Industry Analysis Report, Regional Analysis, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Jan 2018  |  Report ID: GMI1151  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 250   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Power Transmission Component Market size for 2016 was valued over USD 60 billion and is set to witness growth over 6% by 2024.
 

U.S. Power Transmission Component Market Size, By Voltage Level (USD Million)

U.S. Power Transmission Component Market Size, By Voltage Level (USD Million)

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The power transmission component market will gain appreciable proliferation subject to the ongoing refurbishment and retrofitting of existing grid infrastructure across the globe. Rising investments coupled with favourable political outlook toward the expansion of cross border electric networks will further boost the product demand. In addition, rapid commercialization and urban migration across developing economies have further instituted a favourable business scenario.
 

Favourable policy interventions along with supportive sectoral reforms supporting the integration of energy efficient components will escalate the industry growth. Despite the significant growth in generation capacity, nations across the globe are still prone to the power deficit situation. Accumulating transmission and AT&C losses result in an overall deprivation in terms of energy & revenue realization for the utilities. Henceforth, regulatory inclination along with positive consumer outlook towards the adoption of sustainable technologies will stimulate the global market growth.

 

Power Transmission Component Market Report Coverage
Report Coverage Details
Base Year: 2016 Market Size in 2016: 60 Billion (USD)
Historical Data for: 2013 to 2016 Forecast Period: 2017 to 2024
Forecast Period 2017 to 2024 CAGR: 6% 2024 Value Projection: 100 Billion (USD)
Pages: 250 Tables, Charts & Figures: 364
Geographies covered (31): U.S., Canada, Mexico, UK, France, Italy, Germany, Sweden, Russia, Spain, China, Australia, India, Japan, South Korea, Indonesia, New Zealand, Malaysia, UAE, Saudi Arabia, Qatar, South Africa, Egypt, Turkey, Kuwait, Nigeria, Oman, Brazil, Peru, Chile, Argentina
Segments covered: Component, Voltage Level, Current Level and Region
Companies covered (20): ABB, Toshiba, EATON, Siemens, Crompton Greaves, General Electric, Hitachi, Schneider Electric, Mitsubishi, Hyundai, BHEL, Emerson, ZTT, Larson &Toubro, Tebian Electric Apparatus Stock, APAR Industries, Sterlite, KEC International, SAE, Aster
Growth Drivers:
  • North America and Europe
  • Stringent energy efficiency reforms
  • Expansion of smart grid networks
  • Refurbishment & retrofitting of existing grid infrastructure
  • Asia Pacific
  • Rising peak load demand
  • Expansion of micro-grid networks
  • Grid stability & security of supply concerns
  • Middle East Africa and Latin America
  • Increasing electricity demand
  • Integration of a sustainable electrical network
Pitfalls & Challenges:
  • Slow paced technological evolution across developing regions
  • High dependency on imports

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Power Transmission Component Market, By Component

Transformer in 2016 accounted for over 20% of the global market share. Sustainable mechanical strength, low flux leakage coupled with reduced iron losses have been few imperative parameters which will drive the industry growth. Furthermore, capital intensive specifications along with ongoing technological enhancements have further added to the product penetration.
 

Switchgear is anticipated to witness sustainable growth owing to rapid industrialization and commercial expansions across the globe. Expansion of transmission networks favoured by flexible product applications across the primary & secondary grid channels will augment the global market. In 2016, EverSource Energy in the U.S., proposed an investment worth USD 900 million to refurbish the existing transmission networks.
 

Power Transmission Component Market, By Voltage Level

132 kV power transmission component market is estimated to gain over 7% by 2024. Ongoing commercial establishments and urbanization coupled with ongoing expansion of high tension grid networks will positively influence the product demand. Rampant industrial expansion owing to the adoption of bulk manufacturing practices by large industry participants will fuel the business growth. In addition, ongoing expansion of utility based grid infrastructure to sustain the rising electricity demand will stimulate the product adoption.
 

≥ 765 kV power transmission component market in the recent years have attained significant escalation pertaining to the expansion of ultra-high-tension networks to sustain losses accrued from the long-route electrical supply. Favourable regulatory and consumer inclination towards the adoption of HVDC networks to sustain the cross-border electricity demand will drive the industry growth.
 

Power Transmission Component Market, By Current Level

HVAC power transmission component market over the years have gained significant market penetration subject to economical cost structure coupled with the ease of processing. Light weight, effective ductility & malleability along with feasible operational safety across circuits with comparatively lower amperage rating will encourage the product adoption. In addition, ease-of-voltage transformation favoured by lower terminal cost across these circuits will boost the product penetration.
 

Ongoing expansion of extra & ultra-high-tension grid infrastructure to reduce the overall accumulated line losses will augment the HVDC power transmission component market share. Effective asynchronous interconnection, lower losses, negligible short-circuit current, and improved controllability pose an immense potential for HVDC components over the forecast timeline.
 

Power Transmission Component Market, By Region

The U.S. power transmission component market in 2016 was valued over USD 5 Billion. The nation subject to the ongoing retrofitting and revamping of the existing electric grid has infused a favourable business outlook. Integration of an effective grid support mechanism coupled with rapid technological advancements will positively impact the business growth. Rising infrastructural investments along with an increasing energy consumption will further complement the industrial outlook.
 

The Europe power transmission component market will witness comprehensive escalation owing to stringent energy efficiency concord along with growing renewable electricity share. Regulators have been effectively channelizing investments to reinforce its electricity generation, transmission and distribution networks. Regional framework to fortify the support for EU’s policy intent include, streamlining of investments toward a stable and adaptable grid to sustain rising energy demand & renewable integration, including the incentivizing of consumer goods & energy efficient equipment.
 

Asia Pacific power transmission component market is set to witness growth over 7% by 2024. Growing energy demand across emerging electricity markets including India along with rising investments to integrate a sustainable grid infrastructure will drive the industry growth. Developed economies including Japan and South Korea pose appreciable business potential in line with the upgradation of their existing electrical grid and ongoing expansion of micro-grid networks.
 

Competitive Market Share

Eminent participants across the industry include Toshiba, ABB, EATON, Siemens, Crompton Greaves, General Electric, Hitachi, Schneider, Mitsubishi, Hyundai, BHEL, Emerson, ZTT, L&T, Tebian Electric Apparatus Stock, Apar, Sterlite, KEC International, SAE, and Aster.
 

Inorganic growth expansion strategies along with extensive R&D investments to develop economical and energy efficient electrical components have been a key area for the leading industry players.
 

Power Transmission Component Industry Background

Electric power transmission is defined as the bulk supply of electrical energy from a generating site to an electrical substation. The network basically comprises of transformers, circuit breakers, arrestors, insulators, towers and others. These components facilitate, protect, transform, and conduct electricity across the transmission lines.


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