At What Rate The Global Power Transmission Component Market Is Expected To Grow During Forecast Period?

Power Transmission Component Market Overview

Power Transmission Component Market share is expected to grow at 6.55% through 2017 to 2024, reaching USD 61 Billion.

Transmission component refers to the products that are used in systems with moving parts from a power generating site such as a power plant to an electrical substation. Power transmission components are designed to render long-term savings by providing uninterrupted power supply. The power transmission component market would experience growth subject to the ongoing refurbishment and retrofitting of existing grid infrastructure across the globe.

Based on component, the market is segmented as transformer, circuit breaker, isolator, insulator, arrestor, transmission line, transmission tower. Circuit Breaker segment is estimated to dominate the market during the forecast period s they are installed to minimize the loss of electricity during transmission. Considering the voltage, the market is segmented as 132 kV, 220 kV, 440kV, 660kV, and 764 kV. 132 kV power transmission component market is expected to be the largest during the forecast period. Ongoing commercial establishments and urbanization coupled with ongoing expansion of smart grid networks will positively influence the product demand.

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Market Research Analysis

North America accounts for the largest market share whereas Asia-Pacific is the fastest growing region.

Region wise, North America held the largest market share of the global power transmission component market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in smart grids and investment in refurbishment of existing grid infrastructure.

Scope of the Report

This report provides an in-depth analysis of the global power transmission component market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the power transmission component market by its component, voltage, current level, and by region.

MARKET SEGMENTATION

By Component

· Transformer

· Circuit Breaker

· Isolator

· Others

By Voltage

· 132 kV

· 220 kV

· 440kV

· 660kV

· 764 kV