Power
transmission aids in smooth electricity transmission, and
distribution services. These services are offered to residential,
commercial and industrial end users. Power generation utilities
produce electricity, which is sold to power transmission utilities
for further downstream distribution. Power transmission companies
generate revenue by selling procured electricity to end users.
Electricity is transmitted through transmission lines in high-voltage
direct current (HVDC) or high-voltage alternating current (HVAC).
Power transmission system includes transmission lines, transformer
stations, and distribution substations that deliver the electricity
to the end users. The power transmission components include power
conductors, capacitors, power convertors, switchgears, voltage
regulators, clutches, chains, sprockets, and couplings.
In-depth
research report on Power Transmission and Components Market
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The
power transmission and components market is matured in developed
countries that has been one of the major reasons for a slow paced
market growth in such countries. Europe and North America hold
substantial market share of global power transmission and components
market. Asia Pacific and Latin America are developing markets for
power transmission and components. The market for power transmission
and components is lucrative in developing countries such as China and
India.
The
global power transmission and components market is segmented on the
basis of type of current, components type and geography. Power is
transmitted through transmission lines in two types of current
including high-voltage alternating current (HVAC) and high-voltage
direct current (HVDC). HVAC is widely used as power generation
utilities provide it in AC form directly from generator turbines.
HVDC has some advantages over HVAC such as power flow control,
transient stability improvement, power oscillation damping, voltage
stability and control. Various kinds of transmission components
include power convertors, power conductors, capacitors, switchgears,
voltage regulators, clutches, chains, sprockets, and couplings.
Convertors are used to convert AC current to DC current and
vice-versa. Power conductors and capacitors are utilized to transmit
electricity efficiently and as per specified requirements.
Switchgears perform the function of switching and transferring
current between different transmission lines. Voltage regulators
normalize the voltage across the transmission lines and substations.
Clutches, chains, sprockets, and couplings are used for mechanical
functions in the power transmission systems. North America and Europe
have a huge chunk of the global power transmission and components
market share. The U.S, U.K, France, Germany, Canada and Italy are
some of the key power transmission and components markets.
Asia
Pacific, Middle East and Latin America have substantial markets for
power transmission and components. Countries such as China, Brazil,
Argentina, Saudi Arabia, Iran, Japan, South Korea and India are major
markets for power transmission and components. Asia Pacific is the
fastest growing market and holds a huge potential market for power
transmission and components through countries such as China and
India.
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Power
transmission and components market is primarily driven by increased
demand for electricity across the globe, which is mainly fuelled by
industrialization. Increasing population, industrial activities and
modernization have raised the overall demand for electricity.
Introduction of smart grid has further boosted the power transmission
and components market. New technological advancements such as
wireless power transmission are expected to further augment the
demand for power transmission and components. However, high
infrastructure costs involved in power transmission setups may hinder
the growth of power transmission and components market. The shifted
focus towards renewable energy, grid interconnections, economic
development and industrial development are likely to drive the demand
for power transmission and components across the globe.
Some
of the key players in the power transmission and components market
include Alstom, General Cable, SKF Group, Unitech Power Transmission
Ltd.,ABB Ltd., Hitachi Ltd., Mitsubishi Electric Corporation,
Schneider Electric, Siemens AG and The Timken Company.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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