Electric Power (Transmission & Distribution) Infrastructure Market

Market Definition

The Electric Power (Transmission & Distribution) Infrastructure Market size was valued at USD 330.29 billion in 2023 and is predicted to reach USD 431.72 billion by 2030 with a CAGR of 3.90% from 2024 to 2030. Electric power (T&D) infrastructure is the backbone of the electric power system as it facilitates the delivery of electricity from various power plants such as hydroelectric dams, fossil fuel, nuclear, and others to end customers.

Transmission and distribution refer to the different stages of carrying electricity over poles, wires, generators, and others to a home or a business. Power transmission is the process of transmitting large-scale movement of electricity at high voltage levels from a power plant to a substation. Whereas power distribution is the translation of high voltage electricity at substations to lower voltages that are distributed and used by private, public, and industrial customers. In addition, there are four types of electric power transmission such as automatic transmission, manual transmission, automated manual transmission, continuously variable transmission. On the other hand, electric power distribution networks are divided into two types such as radial and network.

Market Dynamics and Trends

The rising demand for electricity is driving the growth of electric power (T&D) infrastructure market globally. This is attributed to the factors such as growing urbanization and globalization. People across the world increasingly using electricity for lighting, operating appliances, computers, electronics, machinery, and public transportation systems. According to U.S. Energy Information Administration electricity consumption in the United States was about 3.9 trillion kilowatt-hours (kWh) in 2021. Also, growing demand in the utilization of renewable energies such as wind and solar energies for generating electric power in turn drives the growth of the electric power (transmission & distribution) infrastructure market during the forecast period.

However, owing to the higher initial cost of power of T&D equipment is expected to restraint the growth of the energy electric power (Transmission & Distribution) infrastructure market. On the other hand, introduction of superconducting cables in the field of electric power infrastructure that provides advantages such as high current carrying capabilities along with extremely low resistance is expected to create ample opportunities for the market in the coming years.

Market Segmentations and Scope of the Study

The electric power (T&D) infrastructure market is segmented on the basis of type, transmission lines, technology, product type, application, and geography. On the basis of type, the market is divided into transformer, switchgear, circuit breaker, inductor & capacitors, meters, and fuses & equipment. On the basis of transmission lines, the market is segmented into overhead power transmission and underground power transmission. On the basis of technology, the market is divided into high-voltage direct current (HVDC), smart grid, and others. On the basis of product type, the market is categorized into transformers, switchgear, and switchboard apparatus. On the basis of application, the market is classified into power transmission and power distribution. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and Row.

Geographical Analysis

Asia Pacific holds the dominant share of electric power (T&D) infrastructure market and is expected to continue its dominance during the forecast period. This is attributed to the factors such as growing adoption of thermal power plants, that provides a cost-effective viable option to create energy with the utilization of fossil fuels and coal is expected to create significant growth of the electric power infrastructure market in the region. Moreover, rising demand for switchgear, which is an essential part of a modern electrical power facility ensuring safe and reliable operations for power generation, transmission and distribution is expected to boost the growth of the electric power (Transmission & Distribution) infrastructure market in the region.

On the other hand, North America is expected to show a steady rise in the electric power (Transmission & Distribution) infrastructure market due to the increasing demand for smart grid, which allows customers to access dynamic pricing information and avoid periods of peak electricity use when power is most expensive. Also, due to the rising consumption for renewable resources such as hydroelectricity, fossil fuels, coal, and others for transmitting energy into residence and business is expected to create huge growth of the market in the region. 

Competitive Landscape

Various market players operating in the electric power (transmission & distribution) infrastructure market includes Enel Spa, E.ON SE, NextEra Energy, Inc., Siemens AG, Schneider Electric, ABB Ltd., General Electric, TOSHIBA CORPORATION, Électricité de France SA, Southern Company. These market players continue to adopt various market development strategies including business expansion and partnership to maintain their dominance in the BNPL market.

For instance, in November 2023, Siemens announced an investment of over USD 500 million in US manufacturing for critical infrastructure in 2023. This investment signifies a significant boost to the electric power infrastructure, supporting the development of essential equipment and technologies needed for modernizing and expanding the grid.

Also, in April 2023, ABB, announced investment of USD 40 million in a new plant in New Mexico, USA, to enhance the electric grid infrastructure. The investment aims to strengthen the US electric grid, addressing growing demands for reliable and resilient power supply.

Moreover, in March 2022, Larsen & Toubro Limited received a contract from government of India to construct a 245 MW solar power project in Rajasthan, India.  This will help Larsen & Toubro to expand its business across the country.

Key Benefits

• The report provides quantitative analysis and estimations of the electric power (TD) infrastructure market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of electric power (TD) infrastructure market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on electric power (TD) infrastructure market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Market Segments

By Type    

• Transformer

• Switchgear

• Circuit breaker

• Inductor & capacitors

• Meters

• Fuses & Equipment

By Transmission Lines

• Overhead power transmission

• Underground power transmission

By Technology 

• High-Voltage Direct Current (HVDC)

• Smart Grid

• Others

By Product Type

• Transformers

• Switchgear

• Switchboard apparatus

By Application

• Power Transmission

• Power Distribution    

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Enel Spa

• E.ON SE

• NextEra Energy, Inc. 

• Siemens AG

• Schneider Electric

• ABB Ltd.

• General Electric

• TOSHIBA CORPORATION

• Électricité de France SA

• Southern Company

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 330.29 Billion
Revenue Forecast in 2030	USD 431.72 Billion
Growth Rate	CAGR of 3.90% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising demand for electricity is driving the market. Growing demand in the utilization of renewable energies such as wind and solar energies fuels the market.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.