DALLAS, July 11, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the electric transmission and distribution equipment market looks promising with opportunities in the power utilities, residential, commercial, and industrial sectors. The global electric transmission and distribution equipment market is expected to reach an estimated $324 billion by 2024 with a CAGR of 5% from 2019 to 2024. The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.
Browse 100 market data tables and 113 figures spread through 190 pages and in-depth TOC on “Global Electric Transmission and Distribution Equipment Market" at https://www.lucintel.com/electric-transmission-and-distribution-equipment-m.aspx
In this market, different types of electric transmission and distribution equipment such as wire and cable, switchgear, transformer, meter, insulator, and capacitor are used as product. Lucintel forecasts that the wire and cable segment will remain the largest segment due to increasing electricity access to residential and commercial buildings.
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Asia Pacific is expected to remain the largest market by value and is also expected to witness the highest growth over the forecast period because of growth in construction activities, increasing electric access, urbanization, and rapid industrialization.
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Emerging trends, which have a direct impact on the dynamics of the electric transmission and distribution equipment industry, include growing implementation of smart grid technology, implementation of advanced metering infrastructure, and transition from conventional to modular switchgears. ABB, Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Xian XD Switchgear Electric, and Crompton Greaves and others are among the major electric transmission and distribution equipment manufacturers.
Lucintel, has analyzed and forecasted for the global electric transmission and distribution equipment market by product type, voltage, end use industry, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Electric Transmission and Distribution Equipment Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.
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Brandon Fitzgerald
Lucintel
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