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.
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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