Global Electric Power Transmission & Distribution Equipment

Report Overview

This study analyzes the global market for electric power transmission and distribution equipment. Historical data for 2008, 2013, and 2018 and forecasts for 2023 are provided on a country-by-country and region-by-region basis for electric power transmission and distribution demand (by product type and by market).

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Products

Products that are discussed in the report include:

• transformers – classified as power, distribution (which include subsurface, pad-mounted, overhead, and platform-mounted designs, all of which are available in one-and three-phase configurations), and other transformers (including a variety of products such as machine tool control transformers, power-regulating transformers, and specialty transformers – such as HID ballast transformers – which are primarily used in instruments, machinery, tools, and other electrical equipment)
• switchgear and switchgear apparatus – including low-voltage products (e.g., panel boards, distribution switchboards, and switches), circuit breakers, duct, fuses, metal-clad and metal-enclosed products, and relays

Markets

The major electric power transmission and distribution markets are:

• electric utilities
• industrial and nonutility generators, including independent power producers
• commercial, government, and residential

Excluded from the scope of the study are electronic transformers, electric meters, fluorescent lamp ballasts, pole and transmission line hardware, cable, and power generation equipment (e.g., generators, motors).

Global demand for electric power transmission and distribution equipment is projected to increase 4.0% per year to $172 billion in 2023. Sales will accelerate from the 2013-2018 performance, aided by continued strong growth in electricity consumption in developing regions.

Key Findings in the Global Electric Power Transmission & Distribution Equipment Study:

Key Geographic Trends Through 2023

The US and Western Europe have very high electrification rates and substantial existing infrastructure. Thus, sales opportunities will be driven by the increasing proliferation of renewable energy projects, which will require significant quantities of electric power transmission and distribution equipment in order to integrate with existing grids.

Middle-income and developing Asian countries benefit from both expansion of basic electrification infrastructure and increased electricity consumption in their industrial and manufacturing sectors.

• India will continue to post the fastest gains in demand for electric power transmission and distribution equipment, with an annual growth rate of 8.2% through 2023.
• China will account for the largest share of new electric power transmission and distribution equipment demand, with 33% of global demand.

The Japanese market, which is currently the sixth largest national market for this equipment, will rebound as the country continues to reactivate nuclear reactors following the Fukushima disaster.

The fastest advances are expected in industrializing middle-income nations, including India, China, Mexico, Thailand, and Brazil.

Key Product & Market Trends Through 2023

Demand for transformers is expected to grow 4.2% annually through 2023, supported by favorable outlooks for renewable energy, especially wind power generation. Wind power is expected to represent the largest component of new renewable energy, with offshore wind installations becoming increasingly common.

Transformer sales will also benefit from efforts to boost access to electricity in vast rural areas of Asia and Africa, where significant portions of the population still are not connected to the electrical grid.

Study Coverage

This Freedonia industry study analyzes the $141 billion global electric power transmission and distribution equipment industry. It presents historical demand data (2008, 2013, 2018) and forecasts (2023) by product (transformers, and switchgear and switchboard apparatus), market (electric utilities; industrial and nonutility generators; and commercial, government, and residential), and region (North America, Central and South America, Western Europe, Eastern Europe, Asia/Pacific, and Africa/Mideast). The study also evaluates market share and competitive analysis on industry competitors including ABB, China XD Group, Eaton, General Electric, Hitachi, Mitsubishi Electric, Schneider Electric, Siemens, and Toshiba.