Power Transmission Component
Market Overview
A transmission component is a
product which is used in systems with moving parts from a power generating site
like a power plant to an electrical substation. Power transmission components
are designed to deliver long-term savings through the provision of uninterrupted
power supply.
A power transmission
component market is estimated to witness fast-paced growth during the forecast
period, as per analysts at Market Research Future (MRFR) in their latest
report. Ongoing refurbishment and retrofitting of existing grid infrastructure
across the globe are some of the primary factors driving the global power
transmission component market. Further, accelerating investments coupled with
favourable political outlook towards the expansion of cross-border electric networks
is expected to boost the growth further.
Moreover, favourable policy
interventions, coupled with stringent government policies to curb the emission
of carbon are anticipated to foster the growth for power transmission component
market. However, even though the market is exhibiting remarkable growth
opportunities for future prospects, countries all over the world are still
witnessing shortage of power. From now on, a regulatory inclination and a rise
in the adoption of sustainable technologies are anticipated to stimulate the
market growth for power transmission components. The global power transmission
component market is anticipated to ascend at 6.55% CAGR between 2018-2023.
Global Power Transmission
Component Market Segmentation
The global power transmission
components market, as showcased in the latest MRFR analysis, is studied for
various segments on the basis of component, voltage, current level, and region.
Based on the component, the
global power transmission components market is segmented into transformer,
isolator, circuit breaker, arrestor, transmission tower, transmission line, and
insulator. Among these segments, the circuit breaker segment is estimated to
register the highest CAGR during the forecast period.
Based on voltage, the global power transmission component market is segmented
into 132 kV, 220 kV,
440kV, 660kV, and >764 kV. Among these segments, the global power
transmission components market is led by the 132-kV segment, which held the
largest market share in the base year. Ongoing commercial establishments and
upscaling urbanization coupled with a continuous industrial expansion are
setting the market on an impressive growth trajectory over the forecast period.
This can be causative to the adoption of bulk manufacturing practices by market
giants who are further fueling market growth for power transmission components.
Based on current level, the
global power transmission component market is segmented into HV AC and HV DC.
Power Transmission Component Regional Industry
Analysis
The power transmission
component market is segmented into the regions of North America, Latin America,
the Middle East & Africa, Asia Pacific, and Europe.
North America is estimated to
witness significant appreciation in the power transmission components market,
boasting the largest market share. Asia Pacific, on the other hand, is
estimated to upscale at an accelerated rate through the forecast period. This
can be owed to the rapid urbanization and commercialization across the emerging
economies across the globe.
Moreover, initiatives
undertaken by governments in these regions to bring down the carbon emission
levels are projected to drive the need for efficient transmission components in
the forthcoming years. Within North America, the US is expected to spearhead
the country-specific market for power transmission component over the
assessment period. The US is likely to reduce its greenhouse gas emission, which
in turn, is likely to propel the growth in demand for power transmission
components from the power generation industry residing in the region.
Leading Players
Some significant players
impacting the power transmission component market include ABB (Switzerland),
Siemens (Germany), Schneider (France), Emerson (US), General Electric (US),
Eaton (Ireland), Crompton Greaves (India), Toshiba (Japan), Sterlite (India),
and Hitachi (Japan).
Browse Summary of Power Transmission Component Market
Research Report at: https://www.marketresearchfuture.com/reports/power-transmission-component-market-7251
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Read More:
https://sites.google.com/view/intelligent-pigging-market-ana/home
No comments:
Post a Comment