Power Transmission Component Market 2019 Emerging Trends, Current Scenario, Recent Developments, Competitive Analysis and Emerging Technologies by Forecast To 2023

Power Transmission Component Market 2019 Emerging Trends, Current Scenario, Recent Developments, Competitive Analysis and Emerging Technologies by Forecast To 2023

“Power Transmission Component Market”
The global Power Transmission Component Market research report provides an in-depth study of all the leading factors influencing the market on a global and regional level, including drivers, restraints, threats, and industry-specific trends. Global Power Transmission Component Market Research Report by Component (Transformer, Circuit Breaker, Isolator, and Others), Voltage (132 kV, 220 kV, 440kV, 660kV, >764 kV), Current Level (HVAC, HVDC), and Region – Forecast till 2023

The growing demand for smart grid technology and for incorporating various forms of renewable energy into the mainline grid network is likely to be the major driver for the global power transmission component market over the forecast period, according to the latest report from Market Research Future (MRFR). The global power transmission component market is expected to exhibit a stellar 6.55% CAGR over the forecast period from 2018 to 2023, according to MRFR.

The growing need to incorporate various forms of renewable energy into the mainline grid is also likely to lead to a growing demand from the global power transmission component market over the forecast period.

Competitive Analysis:

Leading players in the global power transmission component market include Hitachi, Sterlite, Toshiba, Crompton Greaves, Eaton, General Electric, Emerson, Schneider, Siemens, and ABB.

Get Free Sample Copy of this Report @ https://www.marketresearchfuture.com/sample_request/7251

Industry Highlights

The growing demand for smart grids is likely to be a major driver for the global power transmission component market over the forecast period, as this is likely to lead to large-scale replacement of power transmission components in a number of countries around the world. The need to retrofit the existing power transmission systems with smart grid technology is likely to lead to a growing demand from the global power transmission component market over the forecast period. Developed countries are likely to dominate the demand from the global power transmission component market in this regard, as smart grid technology is mainly being adopted in regions such as North America and Europe.

Energy generation from renewable sources has become a major agenda for countries around the world, leading to a growing demand for power transmission infrastructure to easily incorporate the standalone renewable power generation projects into the mainline grid. This is likely to remain a key driver for the global power transmission component market over the forecast period, as a number of countries are likely to invest in renewable power infrastructure in the coming years.

Segmentation:

The global power transmission component market is segmented on the basis of component, voltage, current level, and region.

By component, the global power transmission component market is segmented into transformer, circuit breaker, isolator, insulator, arrestor, transmission line, and transmission towers. The circuit breaker segment is expected to exhibit the fastest growth over the forecast period.

By voltage, the global power transmission component market is segmented into 132 kV, 220 kV, 440 kV, 660 kV, and more than 762 kV. The 132 kV segment held the largest share in the global power transmission component market in 2017.

By current level, the global power transmission component market is segmented into HV AC and HV DC.

Regional Analysis:

North America is likely to hold a dominant share in the global power transmission component market over the forecast period. The growing demand for retrofitting of power transmission infrastructure in North America in order to accommodate renewable energy sources and smart grid functionalities is likely to be a major driver for the global power transmission component market over the forecast period. North American governments such as the U.S. and Canada have been among the leading backers of renewable energy initiatives. This is likely to remain a leading driver for the global power transmission component market over the forecast period.

Europe is also likely to exhibit steady growth in the global power transmission component market over the forecast period due to the growing demand for smart grid projects in leading countries in the region.

Asia Pacific could provide major opportunities for the global power transmission component market over the forecast period due to the vast unmet needs for power transmission in the underdeveloped parts of countries such as China, India, Indonesia, Thailand, Vietnam, and other Southeast Asian countries.

Industry Updates:

In May 2019, a new law was passed in Germany to accelerate the expansion of the country’s power grid. Grid expansion has remained a major problem for the German government for a number of years, leading to increasing government participation in efforts to maximize grid outreach.

Browse Full Report @ https://www.marketresearchfuture.com/reports/power-transmission-component-market-7251

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/power-transmission-component-market-7251