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Transmission & Distribution Market to Exceed US$ 300 Bn by 2031, TMR Study

  • Continuous focus on increasing reliability of and resilience in grids catalyzing incremental avenues for companies in transmission & distribution market; modernization of grids in developed nations open up new avenues

  • Collaborations between industry players catalyzing spending on renewable energy projects in various countries; North America and Europe have been lucrative markets

ALBANY, N.Y., June 8, 2022 /PRNewswire/ -- Investments in power transmission and distribution (T&D) systems have prospered on the back of ever-growing need for increasing the performance and stability of grids. Grid operators in the transmission & distribution market are increasingly growing their stakes in modern grid technologies notably smart grids. The authors of a TMR study on the transmission & distribution market witness vast revenue possibilities in the next few years, and projected the valuation to surpass US$ 300 Bn by the end of 2031.

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Increased governments' focus on replacing an aging power infrastructure are enriching the outlook of the transmission & distribution market. Growing spending on new technologies in electric power transmission is attracting lodes of opportunities, found the analysts in the global transmission & distribution market.

Incessant efforts to connect regions across developing and emerging economies through electrical grids have catalyzed lucrative prospects in the transmission & distribution market. Extensive efforts by the governments in developed nations on making power grids more resilient have expanded the market size. Growing investments in high-voltage transmission facilities is fueling profitable avenues in the transmission & distribution market.

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Key Findings of Transmission & Distribution Market Study

  • Renewable Energy Integration Presents Incredible Lucrative Avenues: Over the years, grid operators have been keen in increasing the share of intermittent sources of energy such as wind, solar, and tidal power. A number of renewable energy projects have enriched the transmission & distribution market. The shift toward reducing the carbon footprint of the energy sector has been spurring new investments avenues in the transmission & distribution market.

  • Modernization of Grid Infrastructure in Developing & Developed Regions Underpins Vast Avenue: Rise in efforts to adopt smart grids have stemmed from the drive for making transmission and distribution (T&D) network more resilient and energy efficient. Resilient power grids are being promoted as necessary infrastructure for electrification of transportation sector, especially in developed nations. Growing number of new entrants who are offering technologically advanced products for smart grids is expanding profitable avenues in the transmission & distribution market. Furthermore, the demand for new products and technologies for ensuring smart grid security such as protection against cyberattacks has been extending the canvas for stakeholders and companies. 

  • Electrification of Rural Areas Constantly Expanding Avenue: Governments in emerging economies are relentlessly working to expand the transmission and distribution networks to cover rural areas and the areas with no electrification. The rise in power loads has thus fueled revenue streams for players in the transmission & distribution market.

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Transmission & Distribution Market: Key Drivers

  • Increased focus of various economies on attaining energy security is a key driver for public and private investments in the transmission & distribution market. The growing investments in renewable power generation is a key step toward thus direction and demand for T&D equipment for solar and wind power enriching the market prospects.

  • Smart grid frameworks are attracting widespread popularity for smart cities and smart communities. Smart grid pilot projects have attracted interest of policymakers in developing regions, such as in India.  

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Transmission & Distribution Market: Regional Growth Dynamics

  • North America and Europe have been remarkably lucrative transmission & distribution markets and are expected to contribute substantial revenues during the forecast period.
     
  • In North America, the increasing trend of renewable energy integration has been offering massive impetus. The country has witnessed growing number of renewable energy projects, which has spurred the modernization of grids in the North America transmission & distribution market.

  • In Europe, Germany has emerged as a lucrative market and it held a major share in 2020.

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Transmission & Distribution Market: Key Players

Some of the key players in the transmission & distribution market are:

  • Bureau Veritas
  • SGS
  • Intertek
  • L&T Construction
  • Reliance Infrastructure Limited
  • STEAG GMBH
  • Hartek Group
  • Mitsubishi Electric
  • Bechtel Corporation
  • Renewable Energy Systems Ltd.
  • GENERAL ELECTRIC
  • Eltel Networks
  • Europower Energie B.V.
  • Arteche Group

Global Transmission & Distribution Market: Segmentation

Transmission & Distribution Market: Type

  • Equipment
    • Wire & Cable
    • Transformer
    • Electric Meter
    • Switchgear
    • Insulator & Capacitor
    • Others
  • Services
    • Testing
    • Field Testing
    • Terminations Development
    • Asset Health Monitoring
    • Others

Transmission & Distribution Market: End-user

  • Utility
  • Industrial
  • Residential & Commercial

Transmission & Distribution Market: Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Browse More Energy & Natural Resources Market Research Reports by TMR:

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Submarine Power Cable Market - Submarine Power Cable Market is likely to register a CAGR of 12% during the forecast period and is anticipated to reach a submarine power cable market share of US$ 21.7 Bn By 2031

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