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Pune, India, Jan. 11, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global power transmission market was worth USD 81.14 billion in 2020 and is poised to witness a remarkable CAGR over the forecast period 2021-2026.
The report classifies the business vertical into various segments based on components, voltage, end-user scope, and regional division. A thorough analysis of each segment with respect to their market share, growth rate, and revenue contribution forms a major part of the study.
Moreover, the document incorporates a record of the major competitive trends and developments in the industry. It profiles all prominent companies and highlights the major priorities that stakeholders should focus on for ensuring maximum growth in the forthcoming years.
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The market growth is mainly being driven by rapid urbanization, coupled with various government initiatives to establish indigenous industries where power transmission is necessary. Inflowing power infrastructure investments across developing and developed countries is also amplifying the industry demand.
Additionally, factors such as increasing adoption of international standards for efficient electricity supply, growing demand for automation in factories, increasing production of electric components, and development of user-friendly electric devices are acting as a major impetus to market development.
COVID-19 impact analysis
The COVID-19 pandemic caused a significant slowdown in the worldwide power transmission industry in 2020, as the demand for utility services from commercial and industrial sectors fell due to imposition of global trade restrictions and lockdowns. Manufacturing facilities across the world had halted operations to prevent the spread of the virus among their employees, which had impacted the demand for utility services like wastewater treatment and electricity.
Market segmentation review
Based on component type, global power transmission market is segmented into transformer, insulator, transmission lines, transmission towers, and others. Among these, transformer segment currently captures a major market share as these components are extensively used to receive low voltage electric power and transmit it to distribution channels throughout power grid networks.
By voltage, the market classification comprises 132 kV, 220 kV, 440 kV, 660 kV, and 765 kV & above. Of these, 132 kV segment is slated to capture a major industry share over 2021-2026, as high voltages are preferred in transmission systems since they imply a lower current for a particular power of transmission. Lower current ensures that less heat is produced in the transmission lines, thereby reducing the wastage.
Moving on to end user scope, the market classification comprises commercial and industrial segments. Within the industrial sector, manufacturing sub-segment currently accounts for a major portion of annual industrial power consumption, followed by construction, mining, and agriculture.
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Global Power Transmission Market, by Component Type (Revenue, USD Million, 2016-2026)
- Transformer
- Insulator
- Transmission Lines
- Transmission Towers
- Others
Global Power Transmission Market, by Voltage (Revenue, USD Million, 2016-2026)
- 132 kV
- 220 kV
- 440 kV
- 660 kV
- 765 kV & Above
Global Power Transmission Market, by End User Scope (Revenue, USD Million, 2016-2026)
Global Power Transmission Market, by Geographical Outlook (Revenue, USD Million, 2016-2026)
Americas
- United States
- Canada
- Mexico
- Brazil
Europe
- Germany
- United Kingdom
- France
Asia Pacific
Middle East & Africa
Global Power Transmission Market, Competitive Dashboard (Revenue, USD Million, 2016-2026)
- ABB Ltd.
- Siemens AG
- Hitachi Ltd.
- Schneider Electric SE
- Bharat Heavy Electricals Ltd. (BHEL)
- General Electric Co.
- Fuji Electric Co. Ltd.
- Mitsubishi Electric Corp.
- Eaton Corp. plc
- Gates Industrial Corp. plc
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
a1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Power Transmission Market: Product Overview
4. Global Power Transmission Market: An Analysis
4.1 Market Size, By Value, 2016-2026
4.2 Impact of COVID-19 on Power Transmission Market
4.3 Global Power Transmission Market: Growth & Forecast
5. Global Power Transmission Market: Segment Analysis
5.1 Global Power Transmission Market Segmentation, By Components (Value)
5.2 Competitive Scenario of Power Transmission Market: By Components (2020 & 2026)
5.3 By Transformer - Market Size and Forecast (2016-2026)
5.4 By Insulator - Market Size and Forecast (2016-2026)
5.5 By Transmission Lines - Market Size and Forecast (2016-2026)
6. Global Power Transmission Market Segmentation, By Voltage (Value)
6.1 Competitive Scenario of Power Transmission Market: By Voltage (2020 & 2026)
6.2 By 132 kV - Market Size and Forecast (2016-2026)
6.3 By 220 kV - Market Size and Forecast (2016-2026)
6.4 By 440 kV - Market Size and Forecast (2016-2026)
6.5 By 660 kV - Market Size and Forecast (2016-2026)
6.6 By 765 kV & Above - Market Size and Forecast (2016-2026)
7. Global Power Transmission Market Segmentation, By End-Use (Value)
7.1 Competitive Scenario of Power Transmission Market: By End-Use (2020 & 2026)
7.2 By Commercial - Market Size and Forecast (2016-2026)
7.3 By Industrial - Market Size and Forecast (2016-2026)
8. Global Power Transmission Market: Regional Analysis
8.1 Competitive Scenario of Global Power Transmission Market: By Region (2020 & 2026)
9. Americas Power Transmission Market: An Analysis (2016-2026)
9.1 Americas Power Transmission Market by value: Size and Forecast (2016-2026)
9.2 Americas Power Transmission Market: Prominent Companies
9.3 Market Segmentation By Components (Transformer, Insulator, Transmission Lines, Transmission Towers, Others)
9.4 Market Segmentation By Voltage (132 kV, 220 kV, 440 kV, 660 kV, 765 kV & Above)
9.5 Market Segmentation By End Use (Commercial, Industrial)
10. Europe Power Transmission Market: An Analysis (2016-2026)
10.1 Europe Power Transmission Market by value: Size and Forecast (2016-2026)
10.2 Europe Power Transmission Market: Prominent Companies
10.3 Market Segmentation By Components (Transformer, Insulator, Transmission Lines, Transmission Towers, Others)
10.4 Market Segmentation By Voltage (132 kV, 220 kV, 440 kV, 660 kV, 765 kV & Above)
10.5 Market Segmentation By End Use (Commercial, Industrial)
11. Asia Pacific Power Transmission Market: An Analysis (2016-2026)
11.1 Asia Pacific Power Transmission Market by value: Size and Forecast (2016-2026)
11.2 Asia Pacific Power Transmission Market: Prominent Companies
11.3 Market Segmentation By Components (Transformer, Insulator, Transmission Lines, Transmission Towers, Others)
11.4 Market Segmentation By Voltage (132 kV, 220 kV, 440 kV, 660 kV, 765 kV & Above)
11.5 Market Segmentation By End Use (Commercial, Industrial)
12. Global Power Transmission Market Dynamics
12.1 Global Power Transmission Market Drivers
12.2 Global Power Transmission Market Restraints
12.3 Global Power Transmission Market Trends
13. Market Attractiveness and Strategic Analysis
13.1 Market Attractiveness Chart of Global Power Transmission Market - By Components (Year 2026)
13.2 Market Attractiveness Chart of Global Power Transmission Market - By Voltage (Year 2026)
13.3 Market Attractiveness Chart of Global Power Transmission Market - By End Use (Year 2026)
13.4 Market Attractiveness Chart of Global Power Transmission Market - By Region (Year 2026)
14. Competitive Landscape
Related Report:
Power Transmission Lines and Towers Market Size, Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2021 - 2028
The power transmission lines and towers market is estimated to register substantial growth by 2028 owing to prevalent electricity demand in varied industry verticals across the globe. Moreover, surging need for electricity in remote areas is also expected to foster market outlook over the forecast period. The electrical transmission system in combination with distribution systems, power plants, and sub-stations constitute the electrical grid. This grid fulfills the electricity needs of the society, getting the electrical power to its end-use. As power plants are often built outside densely populated areas, large transmission systems are vital for power transmission, which has been favorable for product penetration in key regions. In the regional landscape, the Europe power transmission lines and towers market is projected to observe strong growth to surpass a valuation of USD 4 billion by 2028, progressing at a considerable CAGR through the study timeline. The Latin America power transmission lines and towers industry share is anticipated to register steady growth rate to be valued at above USD 195 billion by 2028.
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