The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

 

The electric power transmission, control, and distribution market have been on a robust growth trajectory in recent times. In 2023, the market size stood at $2,861.55 billion, and it is set to grow further to $3,034.74 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 6.1%. This impressive surge can be attributed to key factors such as electrification, population growth, urbanization, industrialization, and the modernization of power grids.

 

 

Future Outlook: Strong Growth on the Horizon

• Anticipated Growth: Looking ahead, the market is poised for continued and robust growth. By 2028, it is projected to reach $3,740.2 billion, with a notable CAGR of 5.4%.
• Driving Forces: The growth in the forecast period is fueled by factors including the integration of renewable energy, advancements in energy storage, electrification of transportation, a focus on grid resilience and security, and the trend toward decentralization.

 

 

Trends Shaping the Future

• Smart Grids: The integration of smart grids is a prominent trend, enhancing the efficiency and reliability of power distribution networks.
• Distributed Energy Resources (DERs): A shift towards DERs is observed, indicating a move towards more localized and sustainable energy sources.
• Grid Digitalization: The digital transformation of grids is gaining traction, introducing advanced monitoring and control capabilities.
• Electrification of Heating and Cooling: Beyond traditional applications, there’s a growing focus on electrifying heating and cooling systems, aligning with sustainable practices.
• Resilience and Microgrid Development: The emphasis on building resilient infrastructures, including the development of microgrids, is a notable trend in the forecast period.

 

 

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Driving Forces: The Quest for Electricity

• Growing Demand: The surging demand for electricity is a primary driver for the growth of the electric power transmission, control, and distribution market.
• Colombian Example: In Colombia, total net electricity production reached 7.0 terawatt-hours (TWh) in June 2023, marking a 1.1% increase on a year-to-date basis, according to the International Energy Agency.
• Essential Functions: Power transmission, control, and distribution play a crucial role in ensuring the safe, efficient, and reliable delivery of electricity from generation sources to end-users.

 

 

Key Players: Giants Shaping the Landscape

• Global Presence: Major companies operating in the market include Tokyo Electric Power Co Holdings Incorporated, Korea Electric Power Corporation, Iberdrola SA, Electricite De France SA, and others.
• Diverse Operations: These companies contribute to the diverse and dynamic landscape of the electric power transmission, control, and distribution market, each playing a pivotal role in the sector’s evolution.

 

 

Greening the Game: Sustainable Innovations

• Strategic Focus: Key market players are strategically focusing on sustainability, developing green products like green-labeled cables to gain a competitive edge.
• Prysmian’s ECO CABLE: In April 2021, Prysmian Group introduced ECO CABLE, the cable industry’s inaugural certifiable green product label. It aligns with EU Ecolabel Regulation No. 66/2010 and emphasizes factors like carbon footprint, recyclability, and environmental advantages.

 

 

Market Segmentation: Unveiling the Layers

1) By Type:

• Electric Power Distribution: Facilitating the final leg of the electricity journey to end-users.
• Electric Bulk Power Transmission and Control: Managing the high-capacity transmission and control of power across long distances.

2) By Distribution Channel:

• Online: The digital era brings online distribution to the forefront.
• Offline: Traditional offline distribution continues to be a significant channel.

3) By Application:

• Government: Addressing the power needs of government infrastructure.
• Commercial: Powering businesses and industrial complexes.
• Residential: Catering to the energy needs of households.

 

 

Regional Dominance: Asia-Pacific Takes the Lead

In 2023, Asia-Pacific emerged as the largest region in the electric power transmission, control, and distribution market. This regional dominance reflects the significant role played by Asia-Pacific in driving the evolution of power transmission, control, and distribution on a global scale.

 

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The Electric Power Transmission, Control, And Distribution Global Market Report 2023 provides an overviewof the electric power transmission, control, and distribution market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The electric power transmission, control, and distribution market forecast analyzeselectric power transmission, control, and distributionmarket size, electric power transmission, control, and distribution market share,leading competitor and their market positions.

 

 

The Table Of Content For The Electric Power Transmission, Control, And Distribution Market Include:
1. Electric Power Transmission, Control, And Distribution Market Executive Summary
2. Electric Power Transmission, Control, And Distribution Market Segments
3. Electric Power Transmission, Control, And Distribution Market Size And Electric Power Transmission, Control, And Distribution Market Growth Rate
4. Key Electric Power Transmission, Control, And Distribution Market Trends
5. Major Electric Power Transmission, Control, And Distribution Market Drivers
……
25. Key Mergers And Acquisitions In The Electric Power Transmission, Control, And Distribution Market
26. Top Electric Power Transmission, Control, And Distribution Companies
27. Electric Power Transmission, Control, And Distribution Market Opportunities And Strategies
28. Electric Power Transmission, Control, And Distribution Market, Conclusions And Recommendations
29. Appendix

 

 

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