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Power Transmission Component Market Share

Report ID: GMI1151
Published Date: Jun 2022
Report Format: PDF

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Power Transmission Component Market Share

Key companies across the power transmission component market include

Toshiba Energy Systems & Solutions Corporation
Siemens Energy
Hitachi Energy
General Electric
CG Power & Industrial Solutions
Schneider Electric
ZTT
Mitsubishi Electric Corporation
Sterlite Power
Eaton
Bharat Heavy Electricals Limited
Hyundai Electric & Energy Systems
KEC International
Larsen & Toubro Limited
Elsewedy Electric
Hyosung Heavy Industries
WEG
Raychem RPG Private
IMEFY GROUP
ARTECHE

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of power transmission component was worth USD 34.4 billion in 2023 and is poised to record a growth rate of over 7.1% through 2032, owing to rising indoor and outdoor applications for ensuring effective conductivity.

The > 132 kV to ? 220 kV voltage segment exceeded USD 11 billion in 2021 due to the rising adoption of renewable sources in the residential sector coupled with the strong expansion of micro-grid networks.

The transformers segment is expected to record close to USD 27 billion by 2030 impelled by the rise in technological advancements and capital-intensive specifications.

Europe accounted for close to 40% of the market share in 2021 driven by the provision of favorable government policies for adopting energy-efficient and the higher adoption of advanced technologies and the integration of renewable energy sources.