The global Electric Power Transmission Network Market was valued at USD 202.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030.
The development of transmission and distribution systems for electric power is driving the expansion of the global market because of the increasing demand for electricity from the residential, commercial, and industrial sectors. Additionally, the government will implement a number of on-shore and offshore projects to produce electricity in order to meet the increased energy demand, which will lead to the deployment of effective switchgear, transformers, and metres for efficient power transmission and distribution.
Governments in several nations, including those in Germany, the UK, the Netherlands, China, and others, are concentrating on creating offshore wind power generation systems, which are predicted to increase demand for cutting-edge T&D machinery. Their preference for using clean energy would have a favourable effect on the expansion of the global market. This is due to the increased electricity demand from the industrial and residential sectors. For instance, the U.S. Department of Energy (DOE) launched Interconnection Innovation e-Xchange (i2X) in May 2022, bringing together grid utilities, operators, tribal and state government, energy justice organisations, and other stakeholders to address challenges facing the country’s power grid and encourage the use of more clean energy, which is anticipated to fuel market expansion.
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The main sources of green energy are renewable energy sources like wind, biomass, sun, geothermal, and hydroelectricity. These green energy options improve the environment, lessen reliance on fossil fuels, and raise electricity prices. Solar and wind energy are anticipated to be the leading renewable energy sources for US power generation by May 2022, according to a research released by the US Energy Information Administration (EIS). According to the US EIS, solar energy production between June and August 2022 will grow by 10 billion Mega Watthours (MWh) compared to the same time last year. Additionally, it is anticipated that during the same time period, wind energy generation will increase by 8 billion MWh. Since June, the study projects a 31 percent rise in solar energy.
Utility-scale solar energy is anticipated to produce 65 GW of electricity in the US electric power sector by 2021. The need for efficient electric power transmission and distribution equipment is being driven by the rising need for green energy in the global energy sector, which is fostering market expansion.
It is anticipated that the scarcity of technical labour with the necessary skills to handle digitalization and drive decarburization in the power, petrochemical, and renewable sectors will restrain market expansion. The energy sector and the need for market expansion are being severely impacted over the projection period by a lack of labour with the necessary knowledge and experience as well as a subpar recruitment procedure within the organisation. Consequently, it is projected that the lack of trained workers throughout the energy industry will restrain the growth of the global market for electric power transmission and distribution equipment.
Market Segmentation
Global Electric Power Transmission Network Market: Major Players
Siemens
Enel (ENEL)
Iberdrola SA (IBE)
Tokyo Electric Power Company Holdings Inc (TEPCO)
Southern Company
Électricité de France SA (EDF)
Korea Electric Power Corporation (KEPCO)
Engie SA
E.ON
RWE AG
Dominion Resources Inc.
General Electric Co
Duke Energy
National Grid PLC (NGG)
Exelon Corporation (EXC)
NextEra Energy Inc.
State Grid Corporation of China
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Global Electric Power Transmission Network Market: Types
Services
Equipment
Global Electric Power Transmission Network Market: Applications
Government
Commercial
Global Electric Power Transmission Network Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electric Power Transmission Network market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Points:
Define, describe and forecast Electric Power Transmission Network product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
