TechNavio recognizes the following companies as the key players in the Global T&D Equipment Market: ABB Ltd., General Cable Technologies Corp., General Electric Co., Schneider Electric SA, and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “Since the global economic downturn, there has been a steady increase in the economies of Asian countries such as China and India. This has paved the way for the emergence of cost-driven manufacturing companies across Asian countries. Several T&D equipment manufacturers from the EMEA region and the Americas are increasingly outsourcing their manufacturing activities to developing countries such as India and China. This is mainly because of the availability of low-cost labor and a skilled workforce in these countries. In addition, this move helps companies to increase their market presence in new geographies. Thus, the increasing outsourcing of manufacturing activities of T&D equipment leads to an increase in investment from both domestic and international vendors.”
According to the report, the Global T&D Equipment market is experiencing huge market potential from developing countries such as China, Brazil, and India. Increasing urbanization is one of the major drivers for the growth of the market in developing countries. Increasing urbanization leads to the demand for sophisticated electrical systems, which in turn enhances the demand for T&D equipment. In addition, increasing industrialization in developing countries has led to an increase in demand for power. In China and India, the Power industry is trying to increase its capacity to meet the demand, which has led to an increase in demand for T&D equipment in these countries.
Further, the report states that many vendors are reducing their product prices to capture the demand from cost-driven companies and small and medium-sized enterprises, which increase the competition among vendors. This poses as a threat to the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-td-equipment-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global T&D Equipment Market 2014-2018
