Global power transmission component market is expected to witness substantial growth during the forecast period owing to rapid urbanization and commercialization across the developing regions which would lead to favourable growth in power transmission component market. The global power transmission component market is expected to grow at 6.55 % CAGR during 2018 to 2023. Transmission component refers to the products that are used in systems 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. 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 projected to grow at a high rate during the forecast period, mainly due to the expansion of smart grid networks and refurbishment of existing grid infrastructure. According to International energy Agency (IEA), US would need to invest USD 2.1 trillion by 2035 to modernize the grid infrastructure, including 579 GW of new generating capacity, and extensive refurbishment of transmission network. Similarly, India established National Smart Grid mission which would lead to huge investments in smart grid infrastructure in India. These initiatives would in turn boost the growth of power transmission component market.
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Power Transmission Component Market Prominent Players:
- ABB (Switzerland),
- Siemens (Germany),
- Schneider (France),
- Emerson (US),
- General Electric (US),
- Eaton (Ireland),
- Crompton Greaves (India),
- Toshiba (Japan),
- Sterlite (India),
- Hitachi (Japan)
Power Transmission Component Market Segments Analysis:
The power transmission component market has been segmented based on component, voltage, current level, and region.
Global Power Transmission Component Market, By Component
- Transformer
- Circuit Breaker
- Isolator
- Insulator
- Arrestor
- Transmission line
- Transmission Tower
Global Power Transmission Component Market, By Voltage
- 132 kV
- 220 kV
- 440 kV
- 660 kV
- >764 kV
Global Power Transmission Component Market, By Current Level
- HVAC
- HVDC
Global Power Transmission Component Market, By Regions
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Regional Outlook:
North America held the largest market share of the global power transmission component market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in smart grids and investment in refurbishment of existing grid infrastructure.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
Continued….
List Of Tables
Table 1 Global Power Transmission Component Market, By Region, 2016-2023 (USD Million)
Table 2 North America Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Continue…
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Power Transmission Component Market Share, By Component, 2017 (%)
Figure 9 Global Power Transmission Component Market, By Component, 2018-2023 (USD Million)
Continued…
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