Electric power transmission and distribution equipment market
Electric power transmission and distribution equipment, also known as power system, is required for the mass transportation of electric power from a power plant, such as a power plant, to a electrical substation. Today’s society is heavily dependent on the reliable and economical supply of electricity. Transmission and distribution systems include a variety of sensors, transducers, relays, generators, transformers, cables, conductors, switches, circuits, converters, capacitors, circuit breakers and meters, among others. The type of transmission and distribution line, such as overhead transmission and sub-transmission or underground transmission, determines the type of equipment required.
Modern and intelligent transmission and distribution equipment is very advantageous over traditional transmission and control systems. It reduces line losses, and power monitoring equipment on power lines corrects power-related problems before they occur. In addition, the equipment offers reduced energy costs through real-time monitoring of energy consumption. Transportation and distribution systems also offer economic benefits as well as operational benefits. These systems allow voltage control and load balancing. Maintaining the correct amount of data for both transport and distribution leads to higher profit margins.
Integration of the latest technologies in all sectors to accelerate the demand for electrical equipment
Intelligent and interconnected transmission and distribution systems are gaining ground as they enable maximum and efficient use of energy and reduce the complexity of transporting electricity through various channels. Although the monitoring and management of power transmission equipment has been largely automated and digitized, some problems persist. The penetration of the Internet of Things (IoT) in electrical equipment has enriched and extended the network properties of smart grids. In recent years, industries such as mining, oil and oil extraction, and marine have seen a massive increase in demand for smart and connected transmission and distribution systems.
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With increasing technological advancements, SCADA, geographic management and demand management systems have entered the scene. These technologies play an essential role in monitoring, detecting and correcting faults in power lines and cables. They maintain the operational structure of equipment, such as relays, cables, sensors, alternators and generators. Therefore, there has been an increase in demand and supply of power distribution and transmission equipment to ensure safe and stable operation.
Electricity consumption will increase alongside increasing urbanization
Increasing electricity consumption in developing regions and economic recovery in developed countries are driving demand for uninterrupted power supply. On the other hand, the high cost of raw materials and the high charges associated with complex installations are holding back the growth of the market. Globally, governments are encouraging the installation of smart grids and smart meters as part of connected and precise switchgear, which is expected to further increase the demand for electrical equipment during the forecast period. .
The migration of people from rural areas to urban towns and villages in search of opportunities further increases the pressure on infrastructure developers to build smart and connected homes with all amenities. Electricity is vital to power devices and other IoT devices. As the demand for electricity transmission and distribution systems increases, suppliers are investing in ensuring that homes are electronically and electrically connected to an adequate supply of electricity and water. Such a supply and demand scenario is expected to result in an upsurge in the global electricity transmission and distribution equipment market during the forecast period.
Upgrade of existing infrastructure
On the basis of end user, the electricity transmission and distribution equipment market has been classified into utilities, residential, industrial and commercial. The utility segment dominates the market as market providers have turned to renewable energy to modernize their power infrastructure with the growing demand for sustainability. In the industrial sector, electricity transmission and distribution equipment is used in what is called a smart grid, which is an ecosystem of goods, services and technologies that supports transport. , distribution and storage of electricity, such as switchgear and circuit breakers. Smart grids deploy equipment such as sensors, relays, alternators and power supplies. With a large number of industries switching to smart grids and deploying efficient infrastructure, the sector is expected to see significant demand for transmission and distribution equipment in the near future.
The domestic and commercial sectors are expected to experience a steady increase in demand for transformers, switchgear and distribution boards. The Superconductivity Council for American Competitiveness (CSAC), supported by the Department of Energy (DOE), commercializes the technology in electric motors, transformers and cables. Governments in different countries allow the use of unconventional energies to maximize the production and transmission of electricity.
North America – The Key Global Shareholder
North America is expected to dominate the global power transmission and distribution equipment market during the forecast period owing to the presence of key manufacturers and suppliers in the region and the growing demand for cables and cables. son. The increasing commercial, industrial and residential needs for electrical power are expected to propel the market growth in the region. Significant investments in the early adoption of smart grids are also expected to complement the market growth.
Regulatory changes have encouraged the introduction of new products such as halogen-free flame retardants that work with low energy consumption. North America ranks first in data transmission and distribution every year. As a result, network providers such as Verizon and AT&T are rapidly adopting new technologies such as fiber optics for better efficiency.
Asia-Pacific – A rapidly growing electrical power transmission and distribution equipment market
China and India are home to two of the largest populations in the world. In both countries, people are increasingly migrating from villages to cities in search of jobs and a better life. Concentrated areas such as large cities and industrial and commercial centers therefore require uninterrupted power supply and less frequent blackouts. Governments and regulators in the region are therefore encouraging the upgrade of their networks with smart devices and precise fault detection equipment. Such an infrastructure, which includes high voltage direct current (HVDC), is designed to transmit energy with fewer errors and immediately detect faults in bad weather conditions and increased load. Smart circuit breakers pre-analyze the fault in the transmission line and disconnect the faulty line from the main power cable line.
Europe is expected to experience significant growth in the market for electricity transmission and distribution equipment. The region is focused on modernizing its electricity distribution network with increased 4G coverage and the expansion of 5G and IoT technologies in power plants. Latin America, the Middle East and Africa are also investing significantly in their IT infrastructure and communication industries, which is expected to strengthen the regional market.
In May 2017, Verizon Communications partnered with Prysmian Group to upgrade its network architecture to a fiber platform, with the goal of increasing 4G coverage and laying the groundwork for the consequent expansion. 5G and IoT technologies.
Nexans, a cable and optical fiber company, and American Superconductor Corporation (AMSC), an energy technology company, entered into a partnership in August 2016 to commercialize the latter’s Electric Grid (REG) system in the United States and Canada.
In June 2016, Nexans Company signed an agreement with Energinet, a Danish energy company and transmission system operator (TSO), for the delivery of 500 km of high voltage (HT) cables. The contract was signed for around 20 billion euros
The Indian government, in its mission plan for the electrical equipment industry 2012-2022, revealed its intention to make the country a producer of electrical equipment and achieve productivity of USD 100 billion by matching exports and imports over the period 2012-2022.
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Electric power transmission and distribution equipment market: key players
Jyoti Structures Limited
KEC International LtÃ©e INC
Societe Generale Cable
Cooper Power Systems, LLC.
Elster SE Group
Electric power transmission and distribution equipment market: major suppliers
Crompton Greaves Ltd.
Hyundai Heavy Industries Co.
China XD Electric
TBA Co Ltd
Mitsubishi Electric Co.
Segmentation of the electrical energy transmission and distribution equipment market
Middle East and Africa
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