Global power transmission component market is expected to witness substantial growth during the forecast period owing to rapid urbanization and commercialization across the developing regions which would lead to favourable growth in power transmission component market. The global power transmission component market is projected to grow at a high rate during the forecast period, mainly due to the expansion of smart grid networks and refurbishment of existing grid infrastructure. According to International energy Agency (IEA), US would need to invest USD 2.1 trillion by 2035 to modernize the grid infrastructure, including 579 GW of new generating capacity, and extensive refurbishment of transmission network. Similarly, India established National Smart Grid mission which would lead to huge investments in smart grid infrastructure in India. These initiatives would in turn boost the growth of power transmission component market.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7251
Transmission component refers to the products that are used in systems with moving parts from a power generating site such as a power plant to an electrical substation. Power transmission components are designed to render long-term savings by providing uninterrupted power supply. The power transmission component market would experience growth subject to the ongoing refurbishment and retrofitting of existing grid infrastructure across the globe.
Key Players
The key players of global power transmission component market are ABB (Switzerland), Siemens (Germany), Schneider (France), Emerson (US), General Electric (US), Eaton (Ireland), Crompton Greaves (India), Toshiba (Japan), Sterlite (India), and Hitachi (Japan), among others.
Industry Segmentation
Global power transmission component market has been segmented based on component, voltage, current level, and region.
Based on voltage, the market is classified into 132 kV, 220 kV, 440kV, 660kV, and >764 kV. 132 kV segment held the highest market share globally in 2017. Ongoing commercial establishments and rising urbanization coupled with a continuing expansion of smart grid networks would have a positive impact on the power transmission component market.
Based on component, the market is segmented as transformer, circuit breaker, isolator, insulator, arrestor, transmission line, transmission tower. Circuit Breaker segment is estimated to dominate the market during the forecast period s they are installed to minimize the loss of electricity during transmission.
Considering the voltage, the market is segmented as 132 kV, 220 kV, 440kV, 660kV, and >764 kV. 132 kV power transmission component market is expected to be the largest during the forecast period. Ongoing commercial establishments and urbanization coupled with ongoing expansion of smart grid networks will positively influence the product demand.
Based on region, the global power transmission component market cover growth opportunities and latest trends across North America, South America, Europe, Asia Pacific and the Middle East and Africa.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/power-transmission-component-market-7251
List Of Tables
Table 1 Global Power Transmission Component Market, By Region, 2016-2023 (USD Million)
Table 2 North America Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 6 South America Power Transmission Component Market, By Country, 2016-2023 (USD Million)
Table 7 Global Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 8 North America Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 9 Europe Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 10 Asia-Pacific Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 11 Middle East & Africa Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 12 South America Power Transmission Component Market, By Component, 2016-2023 (USD Million)
Table 13 Global Power Transmission Component Market, By Voltage, 2016-2023 (USD Million)
Table 14 North America Power Transmission Component Market, By Voltage, 2016-2023 (USD Million)
Continue…..
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/power-transmission-component-market-7251