IRVING, Texas, April 26, 2017 (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 $304 billion by 2022 and is forecast to grow at a CAGR of 6.2% from 2017 to 2022. The major drivers of growth for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.
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In this market, wire and cable, switchgear, transformer, meters, insulator and capacitor are the major products used in the transmission and distribution of electricity. Lucintel forecasts that the wire and cable segment is expected to remain the largest and it is also expected to witness the highest growth in the forecast period supported by government spending in electrical infrastructure and growth in housing demand in emerging markets.
Within the electric transmission and distribution equipment market, utilities are expected to remain the largest end use market due to the replacement and upgradation of existing infrastructure and increasing focus on renewable energy. Lucintel predicts that the demand for equipment in residential end use is likely to experience the highest growth in the forecast period supported by growth in low voltage equipment such as cable and switchgear.
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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 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 are among the major suppliers of electric transmission and distribution equipment.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric transmission and distribution equipment market by product type, voltage type, end use, and region and has come up with a comprehensive research report, “Growth opportunities in the Global Electric Transmission and Distribution Equipment Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the electric transmission and distribution equipment market by product type, voltage type, end use, and region as follows:
Electric transmission and distribution equipment market by product type [$B shipment analysis for 2011 – 2022]:
• Wire and Cable
• Switchgear
• Transformer
- Power
- Distribution
- Specialty
• Meter
- Basic Meter
- Smart Meter
• Insulator
• Capacitor
Electric transmission and distribution equipment market by Voltage [$B shipment analysis for 2011 – 2022]:
• Low Voltage
• Medium Voltage
• High Voltage
Electric transmission and distribution equipment market by End Use Industry [$B shipment analysis for 2011 – 2022]:
• Utilities
• Industrial
• Residential
• Commercial
Electric transmission and distribution equipment market by Region [$B shipment analysis for 2011 – 2022]:
• North America
- United States
- Canada
- Mexico
• Europe
- Russia
- Germany
- United Kingdom
- France
- Italy
• Asia Pacific
- China
- India
- Japan
- South Korea
• The Rest of the World
- Brazil
- Saudi Arabia
- South Africa
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This report answers following 11 key questions:
- What are some of the most promising potential, high-growth opportunities for global electric transmission and distribution equipment market by product (wire and cable switchgear, transformer, meter, insulator, and capacitor), voltage type (low voltage, medium voltage, and high voltage), end use (utilities, industrial, residential, and commercial), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
- Which segments will grow at a faster pace and why?
- Which regions will grow at a faster pace and why?
- What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
- What are the business risks and threats to the market?
- What are emerging trends in this market and the reasons behind them?
- What are some changing demands of customers in the market?
- What are the new developments in the market? Which companies are leading these developments?
- Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
- What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via materials / product substitution
- What M & A activities have occurred in the last 5 years in this market?