Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The electricity transmission and distribution market size was valued at USD 317.89 billion in 2022 and is projected to reach a valuation of USD 329.47 billion in 2023. The market is expected to reach USD 429.43 billion by 2030 with a CAGR of 3.9% during the forecast period. Electricity transmission and distribution is used for building, maintaining, and planning an infrastructure. Increasing trend of renewable energy and investment in the development of renewable energy infrastructure is expected to drive market growth. Rising demand for electricity drives the investments due to urbanization and population. Fortune Business Insights™ shares this information in its report titled “Electricity Transmission and Distribution Market, 2023-2030.”
Key Industry Development:
January 2023- Duke Energy Sustainable Solutions (DESS) recently purchased a 175-MW solar project from the U.S. subsidiary of German solar developer Juwi, situated in Colorado.
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| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 3.9% |
| 2030 Value Projection | USD 429.43 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 317.89 Billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 180 |
| Segments covered | Electricity Transmission and Distribution Market Size, Share & COVID-19 Impact Analysis, By Asset Type (Transmission Line and Distribution Line), By End-User (Electric Utility, Industrial, and Renewables) and Regional |
| Growth Drivers | Rising Demand for Electricity to Propel Market Development |
| Duke Energy Corporation Leads the Market Share Due to its Strong Presence |
Drivers and Restraints:
Rising Demand for Electricity to Propel Market Development
Rising demand for electricity is anticipated to drive the electricity transmission and distribution market growth. With the expansion in urban areas and growth in population, the demand for electricity has been surging, which requires development of the present infrastructure and expansion of new lines. Most of the development is expected to be done in Asia Pacific and Africa.
However, transmission and distribution lines are subject to local, regional, and national regulations, which are different on every level, thereby hampering the market growth.
COVID-19 Impact:
Delays Led to Increased Costs and Reduced Returns on Investments that Impacted Market Growth
The COVID-19 pandemic led to lockdowns and restrictions on mobility and workforce, due to which various construction projects were halted or delayed. The delays led to increased costs and reduced returns on investments. For instance, in June 2020, due to COVID-19 restrictions, the 1,600-MW Jharkhand project was hindered. After the operation, the project would supply 1,496 MW to Bangladesh Power Development Board.
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Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Segmentation:
Distribution Line Segment to Lead with Increasing Number of Investments
On the basis of asset type, the market is divided into transmission line and distribution line. The distribution line segment dominated the market share due to investments which are necessary to enhance the efficiency of the electricity grid and reduce energy losses.
Electric Utility to Hold Dominant Share as More Investments are done in Transmission and Distribution Infrastructure
On the basis of end-user, the market is divided into electric utility, industrial, and renewables. The electric utility segment garnered highest market share as it invests more in transmission and distribution infrastructure so that it can guarantee that the electricity is dependable and efficiently delivered to consumers.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Insights:
Asia Pacific to have the Fastest CAGR Due to Industrialization and Urbanization
Asia Pacific had the fastest CAGR in the electricity transmission and distribution market share due to rapid rate of industrialization and urbanization. The region is also experiencing an increasing demand for electricity. The market had the valuation of USD 133.46 billion in 2022 with countries of the region such as India and China to lead the region.
North America is set to be have moderate market growth due to rising electricity demand and the requirement to update and develop the present grid infrastructure. Government initiatives are also set to propel the market growth to encourage renewable energy and enhance grid resiliency.
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Competitive Landscape:
Duke Energy Corporation Leads the Market Share Due to its Strong Presence
The market is led by Duke Energy Corporation, which is major company for its strong presence in the U.S. It is one of the largest markets for electricity transmission and distribution investments and one of the largest electric power holding companies in the U.S. In May 2022, Duke Energy built a new transmission line for Citrus County. The 11.5-mile, 230-kilovolt transmission line is in the middle of the existing Holder substation in Beverly Hills and the new powerline substation in Crystal River.
A List of Key Manufacturers Operating in the Global Market:
- Duke Energy Corporation (U.S.)
- National Grid plc (U.K.)
- Enel SpA (Italy)
- E.ON SE (Germany)
- NextEra Energy, Inc. (U.S.)
- Dominion Energy, Inc. (U.S.)
- Tokyo Electric Power Company Holdings (Japan)
- American Electric Power Company, Inc. (U.S.)
- Power Grid Corporation of India (India)
- State Grid Corporation of China (China)
Electricity Transmission and Distribution Market Segmentation:
By Asset Type:
- Transmission Line
- Distribution Line
By End-user:
- Electric Utility
- Industrial
- Renewables
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Electricity Transmission and Distribution Market
4.6. Electricity Transmission and Distribution Installers/ Electricity Transmission and Distribution Equipment Providers
5. Global Electricity Transmission and Distribution Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Asset Type
5.2.1. Transmission Line
5.2.2. Distribution Line
5.3. Market Analysis, Insights and Forecast – By End-User
5.3.1. Electric Utility
5.3.1.1.Public Utility
5.3.1.2.Private Utility
5.3.2. Industrial
5.3.3. Renewables
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
Continued….
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