San Francisco, California, November 27, 2017: Forever incrementing need for energy on the back of escalating population and rapid urbanization will ensure a prosperous future for the global power transmission components market, and the demand will continue to expand at a formidable CAGR, according to a recent business and commerce study by TMR Research. The report, titled “Power Transmission Components Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” is a product developed by the collaborative effort of proven research analysts and aims to act as a decision-making document for its audiences such as original component manufacturers, players of power transmission market, government agencies, and research firms. The report touches every length and breadth of the current scenario of the market as well as provides quantitative and qualitative forecasts for the future.
As per the findings of the report, the prosperity of the global power transmission components market is a reflection of abundant need for electricity in the rural parts of several emerging economies. For instance, the government of India has launched initiatives such as “One Nation, One Grid, One Price” that is expected to lure several industry players, whereas China’s power transmission components sector is propelling owing to improving infrastructure of grid in order to meet the rising demand. In the U.S., the power industry players are gaining government support for preventing power loss during transmission and distribution as well as the development of renewables.
Introduction of transmission line refurbishment, modernization of existing power grids, deployment of green transformers, expanding cross-border electricity trading, growing adoption of clean energy such as wind and solar, and advent of smart grid technology as well as HVDC transmission methods as some of the other factors aiding to the global power transmission components market. On the other hand, the requirement of high initial investment, reluctance to replace aged infrastructure, and delays in grid expansion projects are obstructing the proliferation of the market in various underdeveloped countries.
Based on component, the market for power transmission components can be segmented into transformers, circuit breakers and switchgears, capacitors and insulators, and others including relays and power convertors. Currently, the circuit breakers and switchgear segment provides for the maximum demand, which provides the facility of isolation from various types of electric equipment and serves ideally during power supply fluctuations. With proper monitoring and capability to compute imbalances in power, circuit breakers and switchgears are expected to remain the most profitable component-segment of the market throughout the duration of the forecast period.
As far as the competitive landscape is concerned, the global power transmission components market makes for a highly fragmented scenario owing to the presence of a large number of players who cater to regional and domestic demands. That being said, a few players such as Hitachi, Siemens AG, Schneider Electric, Emerson, Eaton, General Electric Company, Tebian Electric Apparatus Stock, Mitsubishi Electric Corporation, Toshiba, and ABB do hold a position of strength. The primary strategy of the prominent players if to collaborate with local equipment manufacturers and increase their geographical presence as well as strengthen their distribution network. For instance, GE acquired Alstom’s power and grid business in 2015, stretching its horizon into 20 countries across North America, Asia Pacific, and Western Europe. Pricing policies also play an important role.
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