NEW YORK, Oct. 18, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Transmission and Distribution (T and D) Equipment Market size is estimated to grow by USD 17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.24% during the forecast period. Increasing investment in transmission and distribution (T and D) infrastructure is driving market growth, with a trend towards data will play an ever-increasing role in energy sector. However, cybersecurity risks in transmission and distribution (T and D) equipment poses a challenge – Key market players include Belden Inc., Dubai Cable Company Pvt. Ltd., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hyundai Motor Co., LS Corp., Mitsubishi Electric Corp., Nexans SA, NKT AS, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Tele Fonika Kable SA, Toshiba Corp., and Vertiv Holdings Co..
Technavio has announced its latest market research report titled transmission and distribution (T and D) equipment market in Europe 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Application (Distribution and Transmission), Product (Power cables, Transformers, and Switchgear), and Geography (Europe) |
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Region Covered |
Europe |
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Key companies profiled |
Belden Inc., Dubai Cable Company Pvt. Ltd., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hyundai Motor Co., LS Corp., Mitsubishi Electric Corp., Nexans SA, NKT AS, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Tele Fonika Kable SA, Toshiba Corp., and Vertiv Holdings Co. |
Key Market Trends Fueling Growth
The Transmission and Distribution (T and D) energy sector is witnessing a data revolution, with data playing an increasingly important role in optimizing grid performance, improving energy efficiency, and enhancing reliability and resilience. Smart grids, which utilize advanced sensors and communication technologies to collect and analyze real-time data, are a key application of this trend. This data enables utilities to better understand grid operations, identify areas for improvement, and reduce energy losses. Additionally, data is being used to optimize energy usage in buildings and facilities through smart technologies. Data analytics and artificial intelligence are essential tools for analyzing the vast amounts of data generated by the T and D sector. These technologies help identify patterns and trends, allowing for future demand prediction and infrastructure planning. The European T and D equipment market is expected to drive growth in this sector due to the region’s focus on smart grids and energy efficiency initiatives.
The Transmission and Distribution (T&D) equipment market is witnessing significant growth due to the increasing demand for electrical energy from various power generation sources like wind power (offshore and onshore), solar energy, biomass, hydroelectric power, geothermal energy, and electric vehicles (EV). The market includes cable and lines, transformers, switches, transmitters, insulators, capacitors, protective devices, relays, circuit breakers, contractors, converters, and other components. Trends such as smart appliances, smart grids, and renewable sources are driving the need for advanced T&D equipment. High-voltage electricity transmission networks require cable and lines, transformers, and switchgear for efficient power transfer. Indirect sales channels and direct sales channels cater to different customer segments. T&D equipment includes flexible power cables, belts, chains, interconnecting lines, conductors, and meters. Emission-free energy sources like wind, solar, and hydroelectric power require specialized T&D equipment to ensure reliable and efficient power transmission and distribution.
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Market Challenges
The transmission and distribution (T and D) equipment market in Europe is experiencing significant cybersecurity challenges due to the digitalization and integration of smart grid technologies. Increased connectivity introduces new vulnerabilities, allowing cybercriminals to gain unauthorized access, disrupt operations, or manipulate control systems. Complex supply chains, with third-party vendors, subcontractors, and suppliers, can also introduce cybersecurity risks. The absence of universal cybersecurity standards and regulations specific to T and D equipment further complicates matters. To mitigate these risks, security measures such as encryption, access controls, intrusion detection systems, and regular security assessments are essential. Continuous monitoring, threat intelligence sharing, and regular employee training and awareness programs are also crucial. By addressing these challenges, the T and D equipment market in Europe can enhance its resilience against cyber threats and safeguard the reliability of the power grid. Failure to do so may hinder the growth of the market during the forecast period.
The Transmission and Distribution (T&D) equipment market faces several challenges in the current energy landscape. Renewable sources like solar and wind power require specialized T&D solutions, such as smart grids and flexible power cables. Smart appliances and electric vehicles add complexity to the distribution system network, necessitating advanced T&D equipment like switches, transformers, and circuit breakers. High-voltage electricity transmission requires T&D equipment like insulators, capacitors, and protective devices. Indirect and direct sales channels must adapt to the evolving market, offering solutions like meters, converters, and interconnecting lines. Emission-free energy sources demand T&D equipment that prioritizes electrical efficiency, while aging infrastructure and T&D losses necessitate upgrades. Overall, the T&D equipment market must innovate to meet the demands of a modern, sustainable energy system.
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Segment Overview
This transmission and distribution (t and d) equipment market report extensively covers market segmentation by
Application
1.1 Distribution
1.2 Transmission
Product
2.1 Power cables
2.2 Transformers
2.3 Switchgear
Geography
3.1 Europe
1.1 Distribution- The Transmission and Distribution (T&D) Equipment Market refers to the industry that manufactures and supplies equipment used in the transfer and distribution of electrical power from power plants to end-users. Key players in this market include Siemens, ABB, and General Electric. T&D equipment includes transformers, switchgears, circuit breakers, and power cables. Market growth is driven by increasing electricity demand and infrastructure development in emerging economies. Companies focus on innovation and efficiency to meet stringent regulatory requirements and customer demands.
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Research Analysis
The Transmission and Distribution (T&D) equipment market encompasses a range of technologies used in the transport and distribution of electrical energy from power generation sources to end-users. This market includes various components such as cable and lines, transformers, switchgear, circuit breakers, meters, insulators, capacitors, and interconnecting lines. Renewable energy sources like wind power, solar energy, biomass, geothermal energy, hydroelectric power, and others are driving the growth of this market. Electric vehicles (EVs) and smart appliances are also contributing to increased demand for T&D equipment. High-voltage electricity transmission networks and distribution system networks are essential for the efficient and reliable delivery of electrical energy. T&D equipment plays a crucial role in the integration of renewable energy sources into the power grid and ensuring the stability of the electrical power system. Indirect channels like belts and chains are also used in the T&D equipment industry for various applications.
Market Research Overview
The Transmission and Distribution (T&D) equipment market encompasses a range of technologies used in the transfer and distribution of electrical energy from power generation sources to end-users. This includes components such as cables and lines, transformers, switches, transmitters, insulators, capacitors, protective devices, relays, circuit breakers, converters, circuits, wires, fuses, and smart grids. The market is driven by the increasing demand for electrical energy from various sources, including offshore wind power, solar energy, wind energy, biomass, geothermal energy, hydroelectric power, and renewable sources. The integration of electric vehicles (EV) and smart appliances into the power grid also contributes to the growth of the T&D equipment market. The aging infrastructure and the need for electrical efficiency and energy demand management are key challenges driving the market for advanced T&D equipment, such as high-voltage electricity transmission systems, smart grids, and flexible power cables. T&D losses and emission-free energy are also important considerations in the market for T&D equipment. Indirect and direct sales channels are used to distribute T&D equipment, with contractors and interconnecting lines and conductors playing crucial roles in the supply chain.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Distribution
Transmission
Product
Power Cables
Transformers
Switchgear
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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