Global Electric Power Transmission, Control, And Distribution Market Report 2022 – Market Forecast, Trends And Strategies
5 Jan, 2022
The global electric power transmission, control, and distribution market size is expected to grow from $2.48 trillion in 2021 to $2.67 trillion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth in the electric power transmission, control, and distribution market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric power transmission, control, and distribution market is expected to reach $3.47 trillion in 2026 at a CAGR of 6.8%.
What is the Global Electric Power Transmission, Control, And Distribution Market?
The electric power transmission, control, and distribution market consists of sales of electric power by entities (organizations, sole traders and partnerships) that operate electric power transmission systems, control (i.e., regulate voltages) the transmission of electricity, and/or distribute electricity. The transmission system includes lines and transformer stations. Establishments in this market arrange, facilitate, or coordinate the transmission of electricity from the generating source to the distribution centers, other electric utilities, or final consumers. The distribution system consists of lines, poles, meters, and wiring that deliver the electricity to final consumers.
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What drives the Global Electric Power Transmission, Control, And Distribution Market?
The increasing applications of electricity in the transportation industry are expected to increase the electricity demand, driving the power generation market. The electrification of railways in underdeveloped and developing countries, the setting up of public transportation networks such as rapid metro transit systems, and the increasing use of electric vehicles in developed countries will create significant opportunities for power generation companies in the market. For instance, to attain net-zero carbon emissions, Network Rail estimates that 13,000 single track kilometers – or about 450km per year – of the track will need to be electrified by 2050 in the UK and around 251 kilometers were electrified between 2019 and 2020. According to the Edison Electric Institute (EEI), the annual electric vehicle sales in the USA are expected to surpass 1.2 million by 2025. Electric vehicles are expected to account for 9% of the global electricity demand by 2050. Hence, the growing applications of electricity in the transportation industry will further drive the electric power transmission, control, and distribution market.
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https://www.thebusinessresearchcompany.com/report/electric-power-transmission,-control,-and-distribution-global-market-reportGlobal Electric Power Transmission, Control, And Distribution Market Segments
The global electric power transmission, control, and distribution market is segmented:
By Type: Electric Power Distribution, Electric Bulk Power Transmission And Control
By Geography: The regions covered in the electric power transmission, control, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global electric power transmission, control, and distribution market.
Electric Power Transmission, Control, And Distribution Global Market Report 2022provides market size and growth forecasts for the global electric power transmission, control, and distribution market, global electric power transmission, control, and distribution market share, electric power transmission, control, and distribution market segments and geographies, electric power transmission, control, and distribution market competitive landscape including leading competitors’ revenues, profiles and market shares. The electric power transmission, control, and distribution market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Electric Power Transmission, Control, And Distribution Industry Playersinclude Tokyo Electric Power Co Holdings Incorporated; Korea Electric Power Corporation; Iberdrola; Electricite De France SA; and E.ON SE.. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.