Global Electric Power Transmission and Distribution Equipment Market to Reach USD 422.7 Billion by 2033, Stimulated by Increasing Demand for Electricity

January 14, 2025 | Electronics and Semiconductors

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According to the latest report by IMARC Group, titled “Electric Power Transmission and Distribution Equipment Market Report by Equipment Type (Wire and Cable, Switchgear and Switchboard, Transformer, Meters, Insulator & Capacitor, and Others), Powerline Installation Type (Underground Installation, Overhead Installation), Voltage (Low Voltage Distribution, Medium Voltage Distribution, High Voltage Distribution), End-Use Industry (Utilities, Industrial, Residential, Commercial), and Region 2025-2033,” the global electric power transmission and distribution equipment market size reached USD 294.8 Billion in 2024. Electric power transmission and distribution equipment is used to transmit, distribute, and control electrical energy across the power grid. It encompasses a wide range of components that facilitate the flow of electricity from power plants to homes, businesses, and industries. It can handle high voltage levels efficiently, allowing for the long-distance transmission of electricity with minimal loss. It enables the efficient transmission of electricity over long distances, reducing energy losses during transportation. It contributes to grid stability by managing voltage levels and minimizing power fluctuations. It can be scaled to accommodate the growing demands of electricity consumption. It delivers electricity to homes, businesses, and industries, enabling lighting, heating, cooling, and the operation of electrical appliances.

Global Electric Power Transmission and Distribution Equipment Market Trends:

The expanding global population and the escalating demand for electricity represent one of the primary factors driving the need for reliable and efficient power transmission and distribution infrastructure. This, along with the rising shift towards cleaner and more sustainable energy sources, such as wind and solar power, represents one of the key factors impelling the market growth. Apart from this, governing authorities of several countries are investing in grid modernization efforts, which include the deployment of advanced electric power transmission and distribution equipment. These upgrades enhance grid reliability, reduce losses during transmission, and enable better load management. Furthermore, the widespread adoption of electric vehicles (EVs) is promoting the development of charging infrastructure, which relies heavily on the electrical grid. Moreover, the growing frequency and severity of natural disasters, such as hurricanes and wildfires, is increasing the need for resilient grid infrastructure, which, in turn, is influencing the market positively. Looking forward, the market value is projected to reach USD 422.7 Billion by 2033, expanding at a CAGR of 3.88% during 2025-2033.

Market Summary:

Based on the equipment type, the market has been segmented into wire and cable, switchgear and switchboard, transformer (power, distribution, and specialty), meters (basic meter and smart meter), insulator & capacitor, and others. Switchgear and switchboard currently represent the largest market segment.
On the basis of the powerline installation type, the market has been bifurcated into underground installation and overhead installation.
Based on the voltage, the market has been classified into low, medium, and high voltage distribution.
On the basis of the end-use industry, the market has been segregated into utilities, industrial, residential, and commercial. At present, utilities hold the largest market share.
Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific exhibits a clear dominance in the market.
The competitive landscape of the market has also been examined, with some of the key players being ABB Ltd., CG Power and Industrial Solutions Limited, Eaton Corporation Plc, General Electric Company, Hubbell Incorporated, Itron Inc., Larsen & Toubro Limited, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, and TBEA Co., Ltd.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Equipment Type, Powerline Installation Type, Voltage, End-Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABB Ltd., CG Power and Industrial Solutions Limited, Eaton Corporation Plc, General Electric Company, Hubbell Incorporated, Itron Inc., Larsen & Toubro Limited, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG and TBEA Co., Ltd.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Electric Power Transmission and Distribution Equipment Market to Reach USD 422.7 Billion by 2033, Stimulated by Increasing Demand for Electricity

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