Electric Power Transmission Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Transformers, Switchgear, and Others), By Application (Fossil Fuel Fired Power, Renewable Energy and Others), Regional Insights and Forecast From 2025 To 2033

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ELECTRIC POWER TRANSMISSION EQUIPMENT MARKET REPORT OVERVIEW

Global electric power transmission equipment market to touch USD 30.45 billion by 2033, CAGR of 3.4%. The market size was USD 22.5 billion in 2024 during the forecast period. Asia-Pacific is dominating the electric power transmission equipment market share in 2025.

In the market study, our analysts have considered electric power transmission equipment players such as Hitachi (ABB), Siemens, GE, Schneider Electric, Eaton, BHEL, TBEA, HYOSUNG and Others

The purpose of transmission and distribution equipment (T&D) is to supply power from power generation plants to another place through electrical substations and transmission lines. Several equipment components are used to enable the transmission of electrical energy, such as switchgears, switchboards, basic and advanced meters, belts, chains, and interconnected lines. The equipment also includes transformers, cables, switches, conductors, insulators, circuits, converters, and capacitors. Constant technological upgrades are required to make transmission and distribution equipment more safer, efficient, and reliable.

COVID-19 IMPACT

"Pandemic curb commercial market but bolster residential cleaning market growth"

The COVID-19 pandemic impacted the entire machinery and equipment industry depressingly. The electric power transmission equipment market witnessed a downfall during the coronavirus outbreak. Due to lockdown restrictions, business industries shut down and the reduction in demand for raw materials in the manufacturing industry for transmission equipment has hampered market growth. Resulted, the pandemic restrictions attributed to the slowdown of the power transmission equipment market in the forecast period.

LATEST TRENDS

"Use of Electricity Devices in Several Industry Inflate Market Scope"

In recent years, Smart grid technology, advanced metering infrastructure, and the transition from conventional to flexible switchgear are some of the evolving trends that have had a direct impression on the dynamics of the electric transmission and distribution equipment market. Also, the emerging need for electricity in almost every sector is an ongoing trend that anticipated market demand and growth in the near future. Along with this, the use of electric circuit in renewable energy projects boost the transmission equipment market.

ELECTRIC POWER TRANSMISSION EQUIPMENT MARKET SEGMENTATION

By Type

Based on type, the market is distributed into Transformers, Switchgear, and Others

By Application

Based on application, the market is divided into Fossil Fuel Fired Power, Renewable Energy, and Others.

DRIVING FACTORS

"Due to Modernization Rising Need for Electricity to Fuel Market Development"

One of the main driving factors of the electric transmission equipment market is increasing industrialization, urbanization, and the modernized power grid in developing nations. Along with this, the rising number of commercial buildings, and offices and their demand for electricity in the commercial and residential sectors are driving the market growth.

"Requirement of Electricity in Smart City Project Stirring Market Growth"

One more considerable key driving factor is the growing number of smart city projects in different developing countries and modernization in the electrical equipment industry is boosting the electric power transmission equipment market size & growth in the coming years.

RESTRAINING FACTORS

"Device Failure Concern Restrict Market Expansion"

The electric transmission equipment market has some restraining factors such as the transmission devise failure during the power transmission distribution is a considerable apprehension. Consequently, the equipment needs to be managed in a way to prevent the loss of electric power, voltage control, loading capacity, and frequency. In addition, the rising inclination of renewable energy & solar power can hinder market growth. Thus, these factors can limit the transmission equipment market growth.

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ELECTRIC POWER TRANSMISSION EQUIPMENT MARKET REGIONAL INSIGHTS

"Highest Consumption of Market Shares in Asia Pacific Propel Market Growth"

With regards to regional insights, Asia Pacific is the leading region of the electric power transmission equipment market share. Almost half of the market revenue share is held by the Asia Pacific region. Due to rapid infrastructural development, urbanization, and increasing demand for electricity in developing nations in various sectors such as residential, commercial, industrial, and utilities are anticipated market growth in the region. Therefore, the expanding market size and demand for electric power transmission equipment thrive in the market growth in Asia Pacific. Consequently, these aspects are projected to offer flattering circumstances for the growth of the electric power transmission equipment market during the forecast period.

KEY IN DUSTRY PLAYERS

"Competitive Strategy Among Key Players Reinforce Market Evolution"

Key players compete with each other in the market based on the quality of the product and safety. The main goal of the key industry players to sustain the market growth is to keep developing new technologies, and continuing investment in R&D, and product manufacturing. Also, infrastructural development, increasement in demand & supply, and improvement in customer experience safeguard competitive efficacy. The main key players are such as Hitachi (ABB), Siemens, GE, Schneider Electric, Eaton, BHEL, TBEA, HYOSUNG, China XD Group, Mitsubishi Electric, Toshiba, Crompton Greaves, SPX Transformer Solutions, Fuji Electric, Shanghai Electric, Baoding Tianweiare along with others. These significant industry players influence the electric power transmission equipment market growth during the forecast period.

List of Top Electric Power Transmission Equipment Companies

• Hitachi (ABB)
• Siemens
• GE
• Schneider Electric
• Eaton
• BHEL
• TBEA
• HYOSUNG
• China XD Group
• Mitsubishi Electric
• Toshiba
• Crompton Greaves
• SPX Transformer Solutions
• Fuji Electric
• Shanghai Electric
• Baoding Tianwei

RECENT DEVELOPMENT

January 2021: The Indian market has been introduced to a complete range of Miniature Circuit Breakers (MCBs), Residual Current Circuit Breakers (RCCBs), and Isolators by ABB India. Through its optimum protection against overload, short circuits, and earth leakages in buildings, the ABB Formula DIN Portfolio offers optimum protection for electrical circuits.

REPORT COVERAGE

The report considered the electric power transmission equipment market size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. Besides this, it describes an understanding of the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis on the basis of key driving forces, and restraints that affect the demand for growth, opportunities, and risks. Additionally, the report gathers the market’s detailed data and forecasts by market experts. Applications and competitive landscape have also been analyzed in detail to provide clarification of the competitive landscape.

The report consists of various aspects based on research methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export and grey area result information, and previous years’ records on the basis of market sales, purchases, and profit of cleaning service market.

Furthermore, the report also emphasizes a comprehensive analysis of the “electric power transmission equipment market” and makes forecasts about its development in the forthcoming years. This market research reports provide insights into all its features of all significant factors influencing the markets for instance small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players in detail and provides data on the market value, revenue demand, supply, and others.