According to the latest market research study by Technavio, the transmission and distribution equipment market in Europe is expected to grow at a CAGR of close to 4% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the T&D equipment market in Europe in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
T&D equipment market in Europe by power cables: The power cables segment accounted for the largest market share of the T&D equipment market in Europe. The highest share can be attributed to the high number of grid interconnections among countries and the high renewable power generation in the region.
“Europe is the leader for offshore wind power generation in the world, and these wind farms are located miles away from the grid requiring power to be transmitted over long distances; this has driven the need for power cables in the region. The distance also leads to power losses while transmitting power over AC lines. This has resulted in HVDC becoming the chosen technology as it has the capability to transfer a high amount of power over long distances with minimum energy losses,” says Sayani Roy, a lead analyst at Technavio for research on power.
T&D equipment market in Europe by transformers: The huge expansion and renovation activities in the T&D sector across the globe, will create the need for transformers to be installed or retrofitted into the system. Hence, creating a significant demand for current transformers during the forecast period. Technavio expects most of the market demand to stem from renovation activities.
T&D equipment market in Europe by switchgear: Rising urbanization and industrialization across Europe fuels the demand for switchgear. Consumers need a reliable and uninterrupted power supply to operate various day-to-day electrical as well as electronic appliances for which they prefer switchgear. Switchgear is installed in the power utilities, and various industrial and commercial end-users also install them in their premises. Therefore, the market can be expected to grow at a robust pace during the forecast period.
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The top vendors operating in the T&D equipment market in Europe are:
- ABB
- General Cable
- Nexans
- Prysmian
- Siemens
The other prominent vendors in the market include AEI Cables, Belden, E+I Engineering, Eaton, Furukawa Electric Industrial Cable, General Electric, Hyundai Heavy Industries, International Wire, JDR Cable Systems, LS Cable, Mitsubishi Electric, nkt cables, S&C Electric Company, Schneider Electric, SKEMA, Southwire, and Sumitomo Electric Industries.
A more detailed analysis is available in the Technavio market research report titled, ‘T&D Equipment Market in Europe 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Smart Grid Transmission and Distribution Equipment Market 2016-2020
- Global Smart Grid Data Management Market 2016-2020
- Power Cable Market in China 2016-2020
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