Transmission and Distribution (T&D) Equipment Market by Type and Geography - Forecast and Analysis 2022-2026

The transmission and distribution (T&D) equipment market share is expected to increase to USD 68.52 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.87%.

This T&D equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers transmission and distribution (T&D) equipment market segmentation by type (power cables, switchgear, and transformers) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The transmission and distribution equipment market report also offers information on several market vendors, including ABB Ltd., Bharat Heavy Electricals Ltd., DAIHEN Corp., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Corp., Nexans SA, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, SPX Corp., TBEA Co. Ltd., Toshiba Corp., Wilson Power Solutions Ltd., and Wilson Transformer Company Pty Ltd. among others.

What will the Transmission and Distribution (T&D) Equipment Market Size be During the Forecast Period?

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Transmission and Distribution (T&D) Equipment Market: Key Drivers, Trends, and Challenges

The increased demand for power generation is notably driving the T&D equipment market growth, although factors such as the increase in distribution generation may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the transmission and distribution (T&D) equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Transmission and Distribution (T&D) Equipment Market Driver

One of the key factors driving the global transmission and distribution (T&D) equipment industry growth is the increased demand for power generation owing to the increasing population and rapid urbanization and industrialization. Urbanization increases the need for electrification, which requires expansion of the power distribution network through investment in new generation plants. In addition, the rise in urban population will lead to new manufacturing plants and expansion of existing plants. Further, power demand fulfillment is important for the socio-economic development of a country. According to WBG, the electrification rate increased from 71.55% in 1991 to 89% in 2019 and 90.5% in 2020. Such factors will drive the growth of the market focus during the forecast period.

Key Transmission and Distribution (T&D) Equipment Market Trend

Growing focus on energy efficiency is one of the key transmission and distribution equipment market trends that is expected to impact the industry positively in the forecast period. Power voltage is usually stepped up for long-distance transmission, which is then stepped down to usable voltage and distributed to commercial and residential end-users. Reducing losses by a percent for a power generation of 1GW will save 10 MW of power in T&D losses. This is a significant saving and can power 1,000 - 2,000 residential users. Moreover, upgrading to HVDC cables in the transmission lines will improve load-carrying capacity, which is 2-3 times the load-carrying capacity of conventional cables at low losses. Upgrading to superconducting transformers, FACTS, and HTS cables are considered a capable solution for reducing T&D losses and increasing energy efficiency. The need for enhanced energy efficiency and reduced T&D losses will drive infrastructural upgrades and the demand for T&D equipment over the forecast period.

Key Transmission and Distribution (T&D) Equipment Market Challenge

One of the key challenges to the global transmission and distribution (T&D) equipment industry growth is the increase in distributed generation. The energy production and consumption pattern are changing, albeit slowly, in developed nations such as the US and Europe, as institutions, businesses, and households are financing the setting up of decentralized power systems and have become an integral part of the developed nation's power system. End-users have become prosumers, that have, at their discretion, the ability to sell excess power at market prices. For instance, distribution generation in Europe has moved beyond the demonstration stage, and governments of several countries such as Germany, Belgium, Denmark, and the UK have implemented policies and feed-in tariffs favoring the technology. In Europe, the price of electricity has continuously increased, which has, in turn, added to household expenditure. Since the power is generated at the source, there are no technical losses, and congestions on the grid are reduced, which allows utilities to defer investments in T&D infrastructure. Such factors may hamper the growth of the market in the forecast years.

This transmission and distribution (T&D) equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global transmission and distribution (T&D) equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the transmission and distribution (T&D) equipment market during the forecast period.

Who are the Major Transmission and Distribution (T&D) Equipment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• Bharat Heavy Electricals Ltd.
• DAIHEN Corp.
• Eaton Corp. Plc
• Furukawa Electric Co. Ltd.
• General Electric Co.
• Hitachi Ltd.
• Hubbell Inc.
• Hyundai Electric and Energy Systems Co. Ltd.
• Mitsubishi Corp.
• Nexans SA
• Prysmian Spa
• S and C Electric Co.
• Schneider Electric SE
• Siemens AG
• SPX Corp.
• TBEA Co. Ltd.
• Toshiba Corp.
• Wilson Power Solutions Ltd.
• Wilson Transformer Company Pty Ltd.

 

This statistical study of the transmission and distribution (T&D) equipment market encompasses successful business strategies deployed by the key vendors. The transmission and distribution (T&D) equipment market is fragmented and the vendors are deploying growth strategies such as investment in research and development and business expansion to compete in the market.

Product Insights and News

• Eaton Corp. Plc - The company offers transmission and distribution equipment such as circuit breakers, reclosers, voltage regulators, modular integrated transportable substations, and medium voltage switchgear. 
• Eaton Corp. Plc - In January 2022, the company acquired Royal Power Solutions, a US-based manufacturer of high-precision electrical connectivity components. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The transmission and distribution (T&D) equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Transmission and Distribution (T&D) Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the transmission and distribution (T&D) equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Transmission and Distribution (T&D) Equipment Market?

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59% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for transmission and distribution (T&D) equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The tremendous investment made in capacity additions for both renewable and fossil fuel-fired power plants and greater access to electricity in the region, especially in countries such as China, India, Australia, and several emerging economies in Southeast Asia will facilitate the transmission and distribution (T&D) equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the T&D equipment market in APAC faced major challenges due to the outbreak of COVID-19 in major economies such as China, India, Japan, and Taiwan. However, in H2 2021, due to the availability of vaccines, there was a reduction in COVID-19 cases in the region, which led to the lifting of COVID-19-related restrictions. In 2022, the regional market has emerged from the negative impacts of the pandemic. Thus, the market is expected to witness slow growth during the first half of the forecast period and will gradually recover once business processes return to normalcy.

What are the Revenue-generating Type Segments in the Transmission and Distribution (T&D) Equipment Market?

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The transmission and distribution (T&D) equipment market share growth in the power cables segment will be significant during the forecast period. Since urbanization results in increased industrialization, electricity plays a crucial role in the growth of a nation. The high number of grid expansion projects, grid interconnections projects between countries, and the significant addition of renewable power generation will drive the segment growth of the segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the transmission and distribution (T&D) equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Transmission and Distribution (T&D) Equipment Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.87%
Market growth 2022-2026	$ 68.52 billion
Market structure	Fragmented
YoY growth (%)	2.03
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 59%
Key consumer countries	US, China, India, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., Bharat Heavy Electricals Ltd., DAIHEN Corp., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Corp., Nexans SA, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, SPX Corp., TBEA Co. Ltd., Toshiba Corp., Wilson Power Solutions Ltd., and Wilson Transformer Company Pty Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Transmission and Distribution (T&D) Equipment Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive transmission and distribution (T&D) equipment market growth during the next five years
• Precise estimation of the transmission and distribution (T&D) equipment market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the transmission and distribution (T&D) equipment industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of transmission and distribution (T&D) equipment market vendors

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