Transmission Components Market Size, Industry Analysis Report By Component (Transformer, Circuit breaker, Isolator, Arrestor, Transmission line, Transmission tower), By Current Level (HVAC, HVDC), End-User (Industrial, Commercial) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 204
- CATEGORY
- Automotive & Transportation
The Transmission Components Market is valued at around USD 47,9667.7 million in 2022 and is expected to reach USD 80,279.2 million by 2030, registering a CAGR of 5.3% over the forecast period. The parts that transfer electricity from the source to the load are known as a power transmission system’s component. The driveshaft, differential, engine, and transmission are the four most crucial components. Together, these parts convert engine power into motion capable of moving a car or truck.
The Transmission Components Market - Growth Factor
Increasing energy demand, quick industrialisation, and bettering urban infrastructure are all thought to be important contributors to the market's fast growth. In addition, it is predicted that demand for transmission components will rise over the next 10 years as a result of the expanding investment in smart cities in developing nations. Because of the emergence of megacities and global industrialization, the demand for energy is expanding quickly on a global scale. Due to the expanding demand for electricity, which is regarded as a common source of energy, the demand for electrical equipment has increased recently. Demand for transmission parts is expected to increase as investments are made in creating electrical infrastructures such heavy current overhead power lines. The governments of several emerging economies are working to create policies that will guarantee a consistent and stable supply of electricity, thereby minimising supply-related losses. These actions are anticipated to influence the market for transmission components globally over the next ten years.
The Transmission Components Market – Market Trends
• The market for power transmission components will expand dramatically as current grid infrastructure continues to be repaired and updated around the world. Rising investments and a positive political outlook for the expansion of cross-border electric networks will increase product demand even more.
• Additionally, a favourable business environment has been produced by rising commercialization and urban migration throughout developing countries like India, China, and Brazil. Positive policy changes and sectoral reforms that facilitate the integration of energy-efficient components would hasten industry growth.
• Despite significant advances in generation capacity, electricity shortages persist in many nations around the world. As transmission and AT&C losses mount, utilities experience a general lack of energy and revenue realisation.
The Transmission Components Market – Segmentation
The Transmission Components Market fragrance concentrates market has been sub-classified into component, voltage level, current level, end-user.
On the basis of component, the Transmission Components Market is bifurcated into:
• Transformer
• Circuit breaker
• Isolator
• Arrestor
• Transmission line
• Transmission tower
• Others
On the basis of end-user, the market is segmented into:
• 132 KV
• 220 Kv
• 440 Kv
• 660 KV
• >765 kV
• Others
On the basis of current level, the market is segmented into:
• HVAC
• HVDC
• Others
On the basis of end-user, the market is segmented into:
• Industrial
• Commercial
• Others
The Transmission Components Market –Regional Analysis
North America dominated the global Transmission Components Market, will prosper despite the little percentage decline because of rising investments in modernising existing power transmission components. The power transmission components market in North America is anticipated to benefit from government efforts to reduce carbon emissions and reduce carbon footprint. The adoption of new transmission components in the region will be accelerated by efforts in areas like Asia Pacific to upgrade their infrastructure to smart grid standards.
The Transmission Components Market – Key Market players
Global key players of Transmission Components Market include Emerson Electric Company, ABB Group, Eaton Corporation Plc, Hitachi, Ltd., General Electric Company, Mitsubishi Electric Corporation, Siemens AG, and Schneider Electric SE, and others.
Report scope
Global Transmission Components Market: Historical Years- 2018-2021
Global Transmission Components Market: Forecast Years- 2022-2030
Global Transmission Components Market 2022- USD 47,966.7 million
Global Transmission Components Market 2030- USD 80,279.2 million
Global Transmission Components Market CAGR- 5.3%
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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