×
Sunday, December 4, 2022

Escalating Electricity Demand Will Push the Electricity Transmission Infrastructure Market to US$ 58.8 Bn in 2032

Last updated Tuesday, November 8, 2022 02:15 ET , Source: Future Market Insights, Inc.

Newark, United States, 11/08/2022 / Future Market Insights, Inc. /

The global electricity transmission infrastructure market is anticipated to reach a valuation of US$ 58.8 Bn in 2032, with the market growing at an average CAGR of 4.40% from 2022 to 2032. Valued at US$ 38.2 Bn in 2021, the target market will likely reach an estimated US$ 39.9 Bn by the end of 2022. Increasing concerns about the supply of electricity, utilization of new transmission technologies along with the use of huge central station generating units are fueling the growth of the electricity transmission infrastructure market during the forecast period.

An escalation in the demand for electricity, the building of additional power production facilities, and the expansion of the transmission and distribution infrastructure are factors that encourage the growth of the electricity transmission infrastructure market.

Furthermore, economic development, a rising population, legislative measures, and a growing demand for renewable energy sources also aid the target market growth. Again, opportunities in the power utilities, residential, commercial, and industrial sectors abound for the electricity transmission infrastructure market, leading to bright prospects in the upcoming years.

For more Insights, Ask for Report [email protected]
https://www.futuremarketinsights.com/reports/sample/rep-gb-526

The target market is witnessing tremendous demand during the projected period owing to factors such as the heightened need for electricity along with significant capital investments. A major part of the market is prospering due to rising investments in smart grids. Likewise, new transmission lines are being developed, and existing systems are being updated so as to boost capacity and deliver enhanced monitoring facilities.

In addition to this, the surge in regulatory standards has deeply contributed to the demand for the electricity transmission infrastructure market in the international space. The rising population, increasing digitalization, and the evolution of the industrial sector are also supporting the increasing production and consumption of electricity, which, in turn, assists in the target market growth during the forecast period.

“High electricity demand coupled with a significant capital investment like the growing investment in smart grids will propel the global growth of the electricity transmission infrastructure market over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • High costs of transformers and loss of electrical energy in long-distance transmission may stunt the market growth.
  • The rise in residential and industrial sectors will drive the target market growth in North America and Asia Pacific.
  • A strong presence of various end-use industries will facilitate the growth of the electricity transmission infrastructure market in China.
  • The launch of several target market-related initiatives will propel the electricity transmission infrastructure market in North America.

Use promo code ->> FMITODAY to get flat 20% discount

Competitive Landscape 

ABB Limited, Alstom SA, Mitsubishi Electric, Eaton, General Electric Company, Hitachi Limited, Siemens AG, Toshiba Corporation, and OSRAM Licht AG among others are some of the major players in the electricity transmission infrastructure market profiled in the full version of the report.

In a highly competitive market, leading market players are focusing on executing long-term supply contracts and working on new projects. These businesses also employ strategies like partnerships and agreements to gain a competitive edge.

More Insights into Electricity Transmission Infrastructure Market Report

In its latest report, FMI offers an unbiased analysis of the global electricity transmission infrastructure market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032.

To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (switchgear and switchboard apparatus, transformers including power and distribution transformers, others), transmission line type (overhead power transmission, underground power transmission), technology (high-voltage direct current (HVDC), smart grid, others (new transformer core shapes, amorphous core transformers, others)), application (industrial, commercial, residential, transportation, others), and region.

According to the latest FMI reports, based on region, the electricity transmission infrastructure market in North America is anticipated to present substantial growth during 2022-2032. A rise in the population coupled with an upsurge in residential and industrial projects will likely fuel the target market growth in this region.

Get your Queries Directly to [email protected]
https://www.futuremarketinsights.com/ask-question/rep-gb-526

In addition, various programs and initiatives pertaining to the target market are being constantly executed in the United States which further aids the growth of the electricity transmission infrastructure market in North America. Besides, the Asia Pacific region, too, is predicted to present notable growth in this market during the forecast period.

Key Segments Profiled In The Global Electricity Transmission Infrastructure Market Report

By Product Type, Electricity Transmission Infrastructure Market is segmented as:

  • Switchgear and Switchboard Apparatus
  • Transformers include power and distribution transformers
  • Others

By Transmission Line Type, Electricity Transmission Infrastructure Market is segmented as:

  • Overhead power transmission
  • Underground power transmission

By Technology, Electricity Transmission Infrastructure Market is segmented as:

  • High-voltage direct current (HVDC)
  • Smart Grid
  • Others (new transformer core shapes, amorphous core transformers, among others)

By Application, Electricity Transmission Infrastructure Market is segmented as:

  • Industrial
  • Commercial
  • Residential
  • Transportation
  • Others

Explore FMI’s Extensive Coverage on Industrial Automation Domain:

Flexible AC Current Transmission System Market Size : The sales in the market are expected to surpass US$ 1.9 Bn by 2032, exhibiting growth at a CAGR of 8.5% over the forecast period 2022-2032.

Transmission Components Market Forecast : The market is projected to grow at a CAGR of 5.3% from 2022 to 2032. It is anticipated to reach a valuation of US$ 80,279.2 Mn by the end of 2032.

Transmission Control Unit Market Analysis : The major factors boosting the growth of Transmission Control Unit market is rising automation across automobile industry.

Transmission Overload Protectors Market Overview : Europe holds a major share in the global transmission overload protectors market. It is followed by North America and Asia Pacific.

Mini Cranes Market Volume :  The global mini cranes market value was worth approximately US$ 379.3 Mn in 2021 and is projected to exhibit growth at a CAGR of 6.0% from 2022 to 2032. 

Distribution Components Market Trends :  It is projected to grow at a CAGR of 4.4% from 2022 to 2032 and reach a valuation of US$ 60,525.1 Mn by the end of 2032.

Softgel Encapsulation Machine Market Value : The global softgel encapsulation machine market size is set to be valued at US$ 104.5 Mn in 2022 and is projected to grow at a CAGR of 4.3% from 2022 to 2032.

Absorption Chillers Market Share : The worldwide absorption chillers market is anticipated to be worth US$ 1,532.7 million in 2022, rising to US$ 2,376.8 million by 2032. 

Water Desalination Equipment Market Growth : The global water desalination equipment market was valued at US$ 8.4 Bn in 2021. It is estimated to grow at a CAGR of 8.2% from 2022 to 2032.

Inductor Market Outlook : The overall demand for inductors is anticipated to grow at a 6.1% CAGR between 2022 and 2032, totalling a market valuation of US$ 21,417.5 Mn by 2032.

About Future Market Insights, Inc.

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Browse All Report: https://www.futuremarketinsights.com/reports

LinkedInTwitterBlogs 

The post Escalating Electricity Demand Will Push the Electricity Transmission Infrastructure Market to US$ 58.8 Bn in 2032 appeared first on Future Market Insights.

Original Source of the original story >> Escalating Electricity Demand Will Push the Electricity Transmission Infrastructure Market to US$ 58.8 Bn in 2032


This content is published on behalf of the above source. Please contact them directly for any concern related to the above. 

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.