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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