Transmission Sales Market

Transmission Market Overview :

The global Transmission Market size was valued at $ 16,689.76 million in 2022, and it is expected to reach $ 2,35,550 million by 2030, growing at a compound annual growth rate (CAGR) of 5% from 2023 to 2030.

The transmission market refers to the buying and selling of transmission equipment and technologies used for transmitting electrical power from power generation facilities (such as power plants) to distribution networks and end consumers. This market is an integral part of the broader power transmission and distribution industry.

The transmission equipment market is highly competitive, with several major players dominating the industry. Some of the key companies involved in the production and sales of transmission equipment include ABB, Siemens, General Electric (GE), Schneider Electric, Mitsubishi Electric, Hitachi, and Toshiba, among others.

Growing energy demand and the need to upgrade aging infrastructure drive investments in transmission equipment. The integration of renewable energy sources (such as wind and solar) into the grid requires efficient transmission systems to transport power from remote locations to population centers.

Market Snapshot:

Transmission Market- Report Coverage:

The “Transmission Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Transmission market.

Transmission Market- Top Trends

Grid Modernization and Digitalization: The push for modernizing power grids was a significant trend in the transmission sales market. Utilities and governments were investing in upgrading aging infrastructure and incorporating digital technologies to enhance grid efficiency, reliability, and resilience. Smart grid solutions, advanced monitoring systems, and real-time data analytics were gaining prominence.

Integration of Renewable Energy: The global transition towards cleaner energy sources led to an increasing integration of renewable energy into the power grid. As solar, wind, and other renewable sources expanded, transmission infrastructure was required to transport power from remote locations with abundant renewable resources to load centers.

High-Voltage Direct Current (HVDC) Transmission: HVDC technology continued to gain traction due to its ability to efficiently transmit electricity over long distances with reduced losses compared to traditional alternating current (AC) transmission. HVDC was especially valuable for interconnecting grids, facilitating cross-border power exchange, and integrating offshore wind farms.

Energy Storage Solutions: The adoption of energy storage solutions, particularly batteries, was on the rise. Energy storage systems helped in smoothing out the intermittency of renewable energy sources, providing grid stability, and supporting peak demand periods, thereby enhancing overall grid efficiency.

Electrification and Electric Vehicles (EVs): The increasing electrification of various sectors, such as transportation and heating, spurred demand for electricity and necessitated a more robust transmission infrastructure. Additionally, the growing popularity of electric vehicles drove the need for increased charging infrastructure and related transmission investments.

The Transmission Market- Company Analysis

Siemens: Siemens is a multinational conglomerate with a strong presence in the power transmission market. The company provides a comprehensive portfolio of transmission equipment, including transformers, switchgears, HVDC systems, and substation automation solutions. Siemens is a pioneer in HVDC technology and has been involved in several high-profile interconnection projects.

General Electric (GE): General Electric, often referred to as GE, is a prominent player in the power industry, offering a wide array of transmission products and solutions. GE's product range includes transformers, circuit breakers, HVDC systems, and grid automation technologies. The company has a long history of providing reliable transmission equipment and services.

Schneider Electric: Schneider Electric is a global energy management and automation company, providing a diverse range of transmission and distribution solutions. The company offers medium and high-voltage switchgear, transformers, substation automation, and digital grid solutions, contributing to grid efficiency and sustainability.

Mitsubishi Electric: Mitsubishi Electric is a renowned Japanese conglomerate known for its high-quality electrical and electronic products. In the transmission market, Mitsubishi Electric manufactures power transformers, gas-insulated switchgears (GIS), and other critical components used in transmission infrastructure.

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Transmission Market Report. The top 10 companies in this industry are listed below:

    1.  Caterpillar, Inc.

    2.  GE

    3.  Siemens

    4.  Gazprom

    5.  Cummins

    6.  Atlas Copco

    7.  HMS Group

    8.  Mitsubishi Heavy Industries

    9.  Toshiba

    10. Emerson

Scope of Report: