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Power Transmission Component Market Share

Report ID: GMI1151
Published Date: Dec 2024
Report Format: PDF

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Power Transmission Component Market Share

Companies like ABB and General Electric (GE) hold a significant revenue share in the power transmission component industry due to their technological leadership, extensive product portfolios, and global reach. Both ABB and GE have decades of experience in developing advanced power transmission technologies. Their commitment to innovation has led to the creation of cutting-edge solutions, such as digital switchgear, smart transformers, and automated circuit breakers, which enhance grid reliability and efficiency.

Power Transmission Component Market Companies

Major players operating in the power transmission component industry are:

ABB
Eaton
Fuji Electric
General Electric
Hitachi Energy
Hubbell
Hyosung Heavy Industries
Hyundai Electric
L&T Electrical
Lucy Group
Mitsubishi Electric
Norelco
Powell Industries
Rittal
Schneider Electric
Siemens
START Electrical

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for power transmission component was reached USD 82.1 billion in 2024 and is estimated to grow at a 3.9% CAGR from 2025 to 2034, driven by increasing global energy demand, grid modernization, and renewable energy integration.

The transmission line segment is projected to exceed USD 39.4 billion by 2034, due to the rising demand for reliable, space-efficient, and safe power transmission solutions in industrial sectors.

The > 220 kV to ≤ 440 kV voltage level segment in the power transmission component market is expected to achieve a CAGR of over 3.7% through 2034, led by the demand for high-capacity, efficient power transmission systems in heavy industrial and utility applications.

The U.S. power transmission component market is set to surpass USD 13.3 billion by 2034, propelled by the modernization of aging power infrastructure and the rising demand for reliable and efficient energy transmission systems.

The industry features key players such as ABB, Eaton, Fuji Electric, General Electric, Hitachi Energy, Hubbell, Hyosung Heavy Industries, Hyundai Electric, L&T Electrical, Lucy Group, Mitsubishi Electric, Norelco, Powell Industries, Rittal, Schneider Electric, Siemens, and START Electrical.