The global transmission components market is set to be valued at US$ 47,966.7 Million in 2022. The market is projected to grow at a CAGR of 5.3% from 2022 to 2032. It is anticipated to reach a valuation of US$ 80,279.2 Million by the end of 2032.
Rapid industrialization, rising energy demand, and improving urban infrastructure are all considered to be major factors contributing to such high growth in the market. Additionally, demand for transmission components is anticipated to increase in the next ten years due to the growing investment in smart cities in developing economies.
According to a recent report by FMI, North America is anticipated to continue to be the most lucrative transmission components market, making up around 1/4th of global sales by 2022. By product type, the junction fuses category is set to experience strong growth between 2022 and 2032 in terms of volume share. The market for transmission components is mainly being driven by increased investment in energy infrastructure, such as distribution and transmission lines for electricity transmission.
The global energy demand is rapidly rising because of the development of megacities and industrialization worldwide. Demand for electrical equipment has increased in recent years due to the rising need for electricity, which is considered to be a prevalent source of energy. As investments are made for developing electrical infrastructures like heavy current overhead power lines, demand for transmission components is anticipated to rise.
Governments of various emerging economies are taking steps to develop measures to ensure a reliable and continuous power supply, thereby reducing the losses that occur during power supply. In the next ten years, these measures are projected to set a trend for the global transmission components market.
Additionally, ongoing investments in grid infrastructure improvement projects are anticipated to boost sales of transmission components. Demand for transmission components is also anticipated to increase in tandem with the development of sustainable electricity networks.
In August 2022, for instance, the USA Department of Energy (DOE) declared that it has issued a new request for information (RFI) seeking input on the Grid Resilience and Innovation Partnership Program worth US$ 10.5 Billion. It is looking forward to improving the reliability and resilience of America’s electric grid.
Similarly, in April 2022, First Trust, a USA-based financial services company, unveiled its Nasdaq Clean Edge Smart Grid Infrastructure fund on Deutsche Börse Xetra and the London Stock Exchange. The company is aiming to help its clients gain exposure to the clean energy segment and directly benefit from future government infrastructure investments.
| Attributes | Key Statistics |
|---|---|
| Global Transmission Components Market Estimated Size (2022E) | US$ 47,966.7 Million |
| Projected Market Valuation (2032F) | US$ 80,279.2 Million |
| Value CAGR (2022 to 2032) | 5.3% |
| Collective Value Share: Top 3 Countries (2022) | 36.7% |
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From 2017 to 2021, the global transmission components market exhibited growth at a 2.4% CAGR and is projected to showcase a CAGR of 5.3% in the forecast period. This increase in YOY growth in 2022 is attributed to rising energy consumption due to factors like increasing population, rapid urbanization, high industrial production, surging mining output, and progressive expansion of access to modern electricity across various geographic locations. In order to develop advanced infrastructure, each of these structures needs reliable power management facilities, which will ultimately increase the demand for transmission components.
The market for transmission components has witnessed a considerable surge in terms of demand as a result of an increasing number of rural electrification initiatives across various parts of the world. As electricity is a basic necessity in many industries, transmission components are widely utilized in electricity distribution, energy & power production, and infrastructure development projects.
Significant growth in terms of demand for electricity from various end users all over the globe, especially in developing nations along with rapid development of electrical infrastructure is expected to benefit the transmission components market in the assessment period. In contrast to the US$ 47,966.7 Million recorded in 2022, the aforementioned factors are anticipated to boost the market to reach US$ 80,279.2 Million by the end of 2032.
To lower overall energy losses, more innovative products should be developed and installed in transmission lines. One of the key factors influencing the demand for transmission components is the creation of new power infrastructure and the replacement of outdated power infrastructure to ensure uninterrupted and secure energy transmission from power production plants to end users. It is anticipated that there will be a considerable rise in terms of demand for transmission components as they are needed for a secure connection in commercial, residential, and industrial buildings, as well as during the transition to a new electric grid.
The development of intelligent power distribution and control networks will also increase the utilization of transmission components and propel the growth of the local economy. The market is also expected to showcase high growth due to factors like rapid expansion of the power supply networks, high investments in building new power grids, and increased transmission & distribution of power supply.
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Rising Need for Electrification in the USA to Foster Sales of Transmission Assembly Parts
According to FMI, the USA is expected to hold the largest share of the transmission components market in 2022. The country is anticipated to expand significantly in the next ten years due to a considerable increase in terms of power consumption on the back of rising population and surging industrialization in the USA During the assessment period of 2022 to 2032, the transmission components market is projected to witness tremendous growth in the country due to rising need for electrification across various parts of the USA, as well as increasing concerns regarding the reduction of power losses & electricity cost.
Growing Number of Electrification Projects to Drive the Demand for Transmission Elements in China
China is considered to be one of the most profitable markets for transmission component manufacturers and suppliers. During the forecast period of 2022 to 2032, the country is expected to generate one of the largest absolute incremental opportunities. China's dominance in the global transmission components market is being bolstered by increasing demand for electrification from the industrial, as well as residential sectors.
Rising government initiatives and increasing investments to accelerate electrification projects in an effort to offer power to every resident is a key factors behind the incremental growth rate of the China transmission components market. Installation of transmission components in the industrial and infrastructure sectors in China will provide a plethora of growth potential throughout the span of the assessment period. Urbanization has expanded over time, which has increased the demand for power and fueled the market for transmission components in the country.
Replacement of Aging Infrastructure in Germany to Fuel Sales of Transmission Substation Components
According to FMI, Germany is projected to account for nearly 19.7% of the Europe transmission components market share by the end of 2022. Increased research & development spending in the country is anticipated to support market expansion by promoting the development of renewable energy sources and updating aging infrastructure. In order to increase grid stability and resilience, as well as allow smarter power networks, the government of Germany is concentrating on upgrading and replacing conventional infrastructure.
Demand for Anchoring and Foundation Power Transmission Components to Surge by 2032
By product type, the anchoring and foundation segment is estimated to dominate the global transmission components market in the evaluation period. The dominance of the segment is expected to continue throughout the forecast period and it is likely to exhibit a CAGR of 6.1% from 2022 to 2032.
Growth of the segment is mainly attributed to increasing power generation from renewable sources, which is further pushing the need for high-tech infrastructure for electricity transmission. As anchoring and foundation components are the backbones of high-tech electricity transmission structures, it is resulting in increasing demand across the globe.
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The global transmission components market is projected to gain momentum in the evaluation period with the presence of several big, medium, and small-scale manufacturers and service providers. Established and emerging market participants are striving to generate new sources of revenue by developing long-term relationships with OEMs and small-scale transmission components manufacturers in countries such as India and the USA Leading industry players are also investing in new advanced technologies that will enable the future production of high-quality transmission components.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | US$ 47,966.7 Million |
| Projected Market Valuation (2032) | US$ 80,279.2 Million |
| Value-based CAGR (2022 to 2032) | 5.3% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Value (US$ Million) |
| Key Market Segments Covered | Product Type and Region |
| Key Regions/Countries Covered | North America, United States of America, Canada, Latin America, Mexico, Brazil, Europe, Germany, France, Italy, Spain, United Kingdom, Russia, BENELUX, East Asia, China, Japan, South Korea, South Asia & Pacific, India, ASEAN, Oceania, Middle East & Africa, Turkey, South Africa, North Africa |
| Key Companies Profiled | Hitachi ABB Power Grids; Siemens Energy; General Electric (GE); Eaton; Hubbell; TE Connectivity; Toshiba |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The global transmission components market is expected to surpass US$ 80.3 Billion by 2032.
The global transmission components market is slated to increase at a value CAGR of around 5.3% throughout 2032.
The global transmission components market witnessed a CAGR of 2.4% during the historical period of 2017 to 2021.
China, USA, and Japan are the most lucrative transmission components markets, with Europe and South East Asia projected to hold the highest share of more than 35% by 2032.
Tier-1 firms such as Siemens Energy, General Electric, Eaton, Hubble, and Schneider Electric are estimated to be the key participants in the global transmission components market.
The transmission components market is expected to increase at 5.1% CAGR through 2032 in North America.
Germany is projected to register growth at a rate of 6.6% in the transmission components market between 2022 and 2032
1. Executive Summary | Transmission Components Market 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 5.1. Historical Market Volume (‘000 Units) Analysis, 2017 to 2021 5.2. Current and Future Market Volume (‘000 Units) Projections, 2022 to 2032 5.3. Y-o-Y Growth Trend Analysis 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Global Average Pricing Analysis Benchmark 7. Global Market Demand (in Value or Category-B in (US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021 7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.1.1. Global GDP Growth Outlook 8.1.2. Global Industrial Automation Overview 8.1.3. Manufacturing Value Addition 8.1.4. Global Power Generation Overview 8.1.5. Global Electricity Distribution Overview 8.1.6. Parent Market Overview 8.1.7. Other macro-economic factors 8.2. Forecast Factors - Relevance & Impact 8.2.1. Top Companies Historical Growth 8.2.2. GDP Growth forecast 8.2.3. Increasing Oil prices 8.2.4. Global GDP Growth Outlook 8.2.5. Global Urbanization Growth Outlook 8.2.6. Other Key Forecast factors 8.3. Value Chain 8.3.1. Raw Material Suppliers 8.3.2. Product Manufacturers 8.3.3. End Users 8.4. COVID-19 Crisis - Impact Assessment 8.4.1. Current Statistics 8.4.2. Short-Mid-Long Term Outlook 8.4.3. Likely Rebound 8.5. Market Dynamics 8.5.1. Drivers 8.5.2. Restraints 8.5.3. Opportunity Analysis 9. Global Market Analysis 2017 to 2021 and Forecast 2021 to 2032, by Product Type 9.1. Introduction / Key Findings 9.2. Historical Market Category-B (US$ Million) and Volume Analysis By Product Type, 2017 to 2021 9.3. Current and Future Market Category-B (US$ Million) and Volume Analysis and Forecast By Product Type, 2022 to 2032 9.3.1. Anchoring and Foundation 9.3.2. Arresters 9.3.3. Bushing 9.3.4. Connectors 9.3.5. Insulators 9.3.6. Enclosures 9.3.7. Utility Measurement Systems 9.3.8. Grounding and Bonding 9.3.9. Switches 9.3.10. Fuses 9.4. Market Attractiveness Analysis By Product Type 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 10.1. Introduction 10.2. Historical Market Category-B (US$ Million) and Volume Analysis By Region, 2017 to 2021 10.3. Current Market Category-B (US$ Million) and Volume Analysis and Forecast By Region, 2022 to 2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. South Asia Pacific 10.3.5. East Asia 10.3.6. Middle East & Africa 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 11.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 11.4.1. By Country 11.4.1.1. United States of America 11.4.1.2. Canada 11.4.2. By Product Type 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Product Type 11.6. Market Trends 11.7. Key Market Participants - Intensity Mapping 11.8. Drivers and Restraints - Impact Analysis 12. Latin America Market Analysis 2017 to 2021 and Forecast 2021 to 2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 12.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Product Type 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Product Type 12.6. Market Trends 12.7. Key Market Participants - Intensity Mapping 12.8. Drivers and Restraints - Impact Analysis 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 13.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. Italy 13.4.1.3. France 13.4.1.4. United Kingdom 13.4.1.5. Spain 13.4.1.6. BENELUX 13.4.1.7. Russia 13.4.1.8. Rest of Europe 13.4.2. By Product Type 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Product Type 13.6. Market Trends 13.7. Key Market Participants - Intensity Mapping 13.8. Drivers and Restraints - Impact Analysis 14. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 14.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 14.4.1. By Country 14.4.1.1. India 14.4.1.2. ASEAN 14.4.1.3. Oceania 14.4.1.4. Rest of South Asia & Pacific 14.4.2. By Product Type 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Product Type 14.6. Market Trends 14.7. Key Market Participants - Intensity Mapping 14.8. Drivers and Restraints - Impact Analysis 15. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 15.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 15.4.1. By Country 15.4.1.1. China 15.4.1.2. Japan 15.4.1.3. South Korea 15.4.2. By Product Type 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Product Type 15.6. Market Trends 15.7. Key Market Participants - Intensity Mapping 15.8. Drivers and Restraints - Impact Analysis 16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 16.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 16.4.1. By Country 16.4.1.1. GCC Countries 16.4.1.2. Turkey 16.4.1.3. Northern Africa 16.4.1.4. South Africa 16.4.1.5. Rest of Middle East and Africa 16.4.2. By Product Type 16.5. Market Attractiveness Analysis 16.5.1. By Country 16.5.2. By Product Type 16.6. Market Trends 16.7. Key Market Participants - Intensity Mapping 16.8. Drivers and Restraints - Impact Analysis 17. Emerging Countries Market Analysis 17.1. Introduction 17.1.1. Market Value Proportion Analysis, By Key Countries 17.1.2. Global Vs. Country Growth Comparison 17.2. United States of America Market Analysis 17.2.1. By Product Type 17.3. Canada Market Analysis 17.3.1. By Product Type 17.4. Mexico Market Analysis 17.4.1. By Product Type 17.5. Brazil Market Analysis 17.5.1. By Product Type 17.6. Germany Market Analysis 17.6.1. By Product Type 17.7. Italy Market Analysis 17.7.1. By Product Type 17.8. France Market Analysis 17.8.1. By Product Type 17.9. United Kingdom Market Analysis 17.9.1. By Product Type 17.10. Spain Market Analysis 17.10.1. By Product Type 17.11. Russia Market Analysis 17.11.1. By Product Type 17.12. BENELUX Market Analysis 17.12.1. By Product Type 17.13. China Market Analysis 17.13.1. By Product Type 17.14. Japan Market Analysis 17.14.1. By Product Type 17.15. S. Korea Market Analysis 17.15.1. By Product Type 17.16. India Market Analysis 17.16.1. By Product Type 17.17. ASEAN Market Analysis 17.17.1. By Product Type 17.18. Oceania Market Analysis 17.18.1. By Product Type 17.19. Turkey Market Analysis 17.19.1. By Product Type 17.20. GCC Countries Market Analysis 17.20.1. By Product Type 17.21. Northern Africa Market Analysis 17.21.1. By Product Type 17.22. South Africa Market Analysis 17.22.1. By Product Type 18. Market Structure Analysis 18.1. Market Analysis by Tier of Companies (Transmission Components) 18.2. Market Share Analysis of Top Players 18.3. Market Presence Analysis 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Benchmarking 19.3. Competition Deep Dive 19.3.1. Hubbell 19.3.1.1. Overview 19.3.1.2. Product Portfolio 19.3.1.3. Profitability by Market Segments (Product/Channel/Region) 19.3.1.4. Sales Footprint 19.3.1.5. Strategy Overview 19.3.2. Eaton Corporation (Cooper and Crouse-Hinds) 19.3.2.1. Overview 19.3.2.2. Product Portfolio 19.3.2.3. Profitability by Market Segments (Product/Channel/Region) 19.3.2.4. Sales Footprint 19.3.2.5. Strategy Overview 19.3.3. ABB (Thomas & Betts) 19.3.3.1. Overview 19.3.3.2. Product Portfolio 19.3.3.3. Profitability by Market Segments (Product/Channel/Region) 19.3.3.4. Sales Footprint 19.3.3.5. Strategy Overview 19.3.4. MacLean Power Systems 19.3.4.1. Overview 19.3.4.2. Product Portfolio 19.3.4.3. Profitability by Market Segments (Product/Channel/Region) 19.3.4.4. Sales Footprint 19.3.4.5. Strategy Overview 19.3.5. S&C Electric 19.3.5.1. Overview 19.3.5.2. Product Portfolio 19.3.5.3. Profitability by Market Segments (Product/Channel/Region) 19.3.5.4. Sales Footprint 19.3.5.5. Strategy Overview 19.3.6. Aluma-Form 19.3.6.1. Overview 19.3.6.2. Product Portfolio 19.3.6.3. Profitability by Market Segments (Product/Channel/Region) 19.3.6.4. Sales Footprint 19.3.6.5. Strategy Overview 19.3.7. Siemens 19.3.7.1. Overview 19.3.7.2. Product Portfolio 19.3.7.3. Profitability by Market Segments (Product/Channel/Region) 19.3.7.4. Sales Footprint 19.3.7.5. Strategy Overview 19.3.8. Schneider Electric 19.3.8.1. Overview 19.3.8.2. Product Portfolio 19.3.8.3. Profitability by Market Segments (Product/Channel/Region) 19.3.8.4. Sales Footprint 19.3.8.5. Strategy Overview 19.3.9. General Electric 19.3.9.1. Overview 19.3.9.2. Product Portfolio 19.3.9.3. Profitability by Market Segments (Product/Channel/Region) 19.3.9.4. Sales Footprint 19.3.9.5. Strategy Overview 19.3.10. Generac 19.3.10.1. Overview 19.3.10.2. Product Portfolio 19.3.10.3. Profitability by Market Segments (Product/Channel/Region) 19.3.10.4. Sales Footprint 19.3.10.5. Strategy Overview 19.3.11. TE Connectivity 19.3.11.1. Overview 19.3.11.2. Product Portfolio 19.3.11.3. Profitability by Market Segments (Product/Channel/Region) 19.3.11.4. Sales Footprint 19.3.11.5. Strategy Overview 19.3.12. Taylor Power Systems 19.3.12.1. Overview 19.3.12.2. Product Portfolio 19.3.12.3. Profitability by Market Segments (Product/Channel/Region) 19.3.12.4. Sales Footprint 19.3.12.5. Strategy Overview 19.3.13. Power Systems and Controls 19.3.13.1. Overview 19.3.13.2. Product Portfolio 19.3.13.3. Profitability by Market Segments (Product/Channel/Region) 19.3.13.4. Sales Footprint 19.3.13.5. Strategy Overview 19.3.14. Emerson Electric Co 19.3.14.1. Overview 19.3.14.2. Product Portfolio 19.3.14.3. Profitability by Market Segments (Product/Channel/Region) 19.3.14.4. Sales Footprint 19.3.14.5. Strategy Overview 19.3.15. Toshiba 19.3.15.1. Overview 19.3.15.2. Product Portfolio 19.3.15.3. Profitability by Market Segments (Product/Channel/Region) 19.3.15.4. Sales Footprint 19.3.15.5. Strategy Overview 19.3.16. Mitsubishi Electric 19.3.16.1. Overview 19.3.16.2. Product Portfolio 19.3.16.3. Profitability by Market Segments (Product/Channel/Region) 19.3.16.4. Sales Footprint 19.3.16.5. Strategy Overview 19.3.17. Socomec 19.3.17.1. Overview 19.3.17.2. Product Portfolio 19.3.17.3. Profitability by Market Segments (Product/Channel/Region) 19.3.17.4. Sales Footprint 19.3.17.5. Strategy Overview 20. Primary Survey Analysis 21. Assumptions and Acronyms Used 22. Research Methodology
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Transmission Components Market
