The global transmission components market is set to be valued at US$ 47,966.7 Million in 2022. The market is projected to grow at a CAGR of 5.3% from 2022 to 2032. It is anticipated to reach a valuation of US$ 80,279.2 Million by the end of 2032.
Rapid industrialization, rising energy demand, and improving urban infrastructure are all considered to be major factors contributing to such high growth in the market. Additionally, demand for transmission components is anticipated to increase in the next ten years due to the growing investment in smart cities in developing economies.
According to a recent report by FMI, North America is anticipated to continue to be the most lucrative transmission components market, making up around 1/4th of global sales by 2022. By product type, the junction fuses category is set to experience strong growth between 2022 and 2032 in terms of volume share. The market for transmission components is mainly being driven by increased investment in energy infrastructure, such as distribution and transmission lines for electricity transmission.
The global energy demand is rapidly rising because of the development of megacities and industrialization worldwide. Demand for electrical equipment has increased in recent years due to the rising need for electricity, which is considered to be a prevalent source of energy. As investments are made for developing electrical infrastructures like heavy current overhead power lines, demand for transmission components is anticipated to rise.
Governments of various emerging economies are taking steps to develop measures to ensure a reliable and continuous power supply, thereby reducing the losses that occur during power supply. In the next ten years, these measures are projected to set a trend for the global transmission components market.
Additionally, ongoing investments in grid infrastructure improvement projects are anticipated to boost sales of transmission components. Demand for transmission components is also anticipated to increase in tandem with the development of sustainable electricity networks.
In August 2022, for instance, the USA Department of Energy (DOE) declared that it has issued a new request for information (RFI) seeking input on the Grid Resilience and Innovation Partnership Program worth US$ 10.5 Billion. It is looking forward to improving the reliability and resilience of America’s electric grid.
Similarly, in April 2022, First Trust, a USA-based financial services company, unveiled its Nasdaq Clean Edge Smart Grid Infrastructure fund on Deutsche Börse Xetra and the London Stock Exchange. The company is aiming to help its clients gain exposure to the clean energy segment and directly benefit from future government infrastructure investments.
| Attributes | Key Statistics |
|---|---|
| Global Transmission Components Market Estimated Size (2022E) | US$ 47,966.7 Million |
| Projected Market Valuation (2032F) | US$ 80,279.2 Million |
| Value CAGR (2022 to 2032) | 5.3% |
| Collective Value Share: Top 3 Countries (2022) | 36.7% |
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From 2017 to 2021, the global transmission components market exhibited growth at a 2.4% CAGR and is projected to showcase a CAGR of 5.3% in the forecast period. This increase in YOY growth in 2022 is attributed to rising energy consumption due to factors like increasing population, rapid urbanization, high industrial production, surging mining output, and progressive expansion of access to modern electricity across various geographic locations. In order to develop advanced infrastructure, each of these structures needs reliable power management facilities, which will ultimately increase the demand for transmission components.
The market for transmission components has witnessed a considerable surge in terms of demand as a result of an increasing number of rural electrification initiatives across various parts of the world. As electricity is a basic necessity in many industries, transmission components are widely utilized in electricity distribution, energy & power production, and infrastructure development projects.
Significant growth in terms of demand for electricity from various end users all over the globe, especially in developing nations along with rapid development of electrical infrastructure is expected to benefit the transmission components market in the assessment period. In contrast to the US$ 47,966.7 Million recorded in 2022, the aforementioned factors are anticipated to boost the market to reach US$ 80,279.2 Million by the end of 2032.
To lower overall energy losses, more innovative products should be developed and installed in transmission lines. One of the key factors influencing the demand for transmission components is the creation of new power infrastructure and the replacement of outdated power infrastructure to ensure uninterrupted and secure energy transmission from power production plants to end users. It is anticipated that there will be a considerable rise in terms of demand for transmission components as they are needed for a secure connection in commercial, residential, and industrial buildings, as well as during the transition to a new electric grid.
The development of intelligent power distribution and control networks will also increase the utilization of transmission components and propel the growth of the local economy. The market is also expected to showcase high growth due to factors like rapid expansion of the power supply networks, high investments in building new power grids, and increased transmission & distribution of power supply.
Principal Consultant
Rising Need for Electrification in the USA to Foster Sales of Transmission Assembly Parts
According to FMI, the USA is expected to hold the largest share of the transmission components market in 2022. The country is anticipated to expand significantly in the next ten years due to a considerable increase in terms of power consumption on the back of rising population and surging industrialization in the USA During the assessment period of 2022 to 2032, the transmission components market is projected to witness tremendous growth in the country due to rising need for electrification across various parts of the USA, as well as increasing concerns regarding the reduction of power losses & electricity cost.
Growing Number of Electrification Projects to Drive the Demand for Transmission Elements in China
China is considered to be one of the most profitable markets for transmission component manufacturers and suppliers. During the forecast period of 2022 to 2032, the country is expected to generate one of the largest absolute incremental opportunities. China's dominance in the global transmission components market is being bolstered by increasing demand for electrification from the industrial, as well as residential sectors.
Rising government initiatives and increasing investments to accelerate electrification projects in an effort to offer power to every resident is a key factors behind the incremental growth rate of the China transmission components market. Installation of transmission components in the industrial and infrastructure sectors in China will provide a plethora of growth potential throughout the span of the assessment period. Urbanization has expanded over time, which has increased the demand for power and fueled the market for transmission components in the country.
Replacement of Aging Infrastructure in Germany to Fuel Sales of Transmission Substation Components
According to FMI, Germany is projected to account for nearly 19.7% of the Europe transmission components market share by the end of 2022. Increased research & development spending in the country is anticipated to support market expansion by promoting the development of renewable energy sources and updating aging infrastructure. In order to increase grid stability and resilience, as well as allow smarter power networks, the government of Germany is concentrating on upgrading and replacing conventional infrastructure.
Demand for Anchoring and Foundation Power Transmission Components to Surge by 2032
By product type, the anchoring and foundation segment is estimated to dominate the global transmission components market in the evaluation period. The dominance of the segment is expected to continue throughout the forecast period and it is likely to exhibit a CAGR of 6.1% from 2022 to 2032.
Growth of the segment is mainly attributed to increasing power generation from renewable sources, which is further pushing the need for high-tech infrastructure for electricity transmission. As anchoring and foundation components are the backbones of high-tech electricity transmission structures, it is resulting in increasing demand across the globe.
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The global transmission components market is projected to gain momentum in the evaluation period with the presence of several big, medium, and small-scale manufacturers and service providers. Established and emerging market participants are striving to generate new sources of revenue by developing long-term relationships with OEMs and small-scale transmission components manufacturers in countries such as India and the USA Leading industry players are also investing in new advanced technologies that will enable the future production of high-quality transmission components.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | US$ 47,966.7 Million |
| Projected Market Valuation (2032) | US$ 80,279.2 Million |
| Value-based CAGR (2022 to 2032) | 5.3% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Value (US$ Million) |
| Key Market Segments Covered | Product Type and Region |
| Key Regions/Countries Covered | North America, United States of America, Canada, Latin America, Mexico, Brazil, Europe, Germany, France, Italy, Spain, United Kingdom, Russia, BENELUX, East Asia, China, Japan, South Korea, South Asia & Pacific, India, ASEAN, Oceania, Middle East & Africa, Turkey, South Africa, North Africa |
| Key Companies Profiled | Hitachi ABB Power Grids; Siemens Energy; General Electric (GE); Eaton; Hubbell; TE Connectivity; Toshiba |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The global transmission components market is expected to surpass US$ 80.3 Billion by 2032.
The global transmission components market is slated to increase at a value CAGR of around 5.3% throughout 2032.
The global transmission components market witnessed a CAGR of 2.4% during the historical period of 2017 to 2021.
China, USA, and Japan are the most lucrative transmission components markets, with Europe and South East Asia projected to hold the highest share of more than 35% by 2032.
Tier-1 firms such as Siemens Energy, General Electric, Eaton, Hubble, and Schneider Electric are estimated to be the key participants in the global transmission components market.
The transmission components market is expected to increase at 5.1% CAGR through 2032 in North America.
Germany is projected to register growth at a rate of 6.6% in the transmission components market between 2022 and 2032
1. Executive Summary | Transmission Components Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
5.1. Historical Market Volume (‘000 Units) Analysis, 2017 to 2021
5.2. Current and Future Market Volume (‘000 Units) Projections, 2022 to 2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Global Average Pricing Analysis Benchmark
7. Global Market Demand (in Value or Category-B in (US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global GDP Growth Outlook
8.1.2. Global Industrial Automation Overview
8.1.3. Manufacturing Value Addition
8.1.4. Global Power Generation Overview
8.1.5. Global Electricity Distribution Overview
8.1.6. Parent Market Overview
8.1.7. Other macro-economic factors
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. GDP Growth forecast
8.2.3. Increasing Oil prices
8.2.4. Global GDP Growth Outlook
8.2.5. Global Urbanization Growth Outlook
8.2.6. Other Key Forecast factors
8.3. Value Chain
8.3.1. Raw Material Suppliers
8.3.2. Product Manufacturers
8.3.3. End Users
8.4. COVID-19 Crisis - Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
9. Global Market Analysis 2017 to 2021 and Forecast 2021 to 2032, by Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Category-B (US$ Million) and Volume Analysis By Product Type, 2017 to 2021
9.3. Current and Future Market Category-B (US$ Million) and Volume Analysis and Forecast By Product Type, 2022 to 2032
9.3.1. Anchoring and Foundation
9.3.2. Arresters
9.3.3. Bushing
9.3.4. Connectors
9.3.5. Insulators
9.3.6. Enclosures
9.3.7. Utility Measurement Systems
9.3.8. Grounding and Bonding
9.3.9. Switches
9.3.10. Fuses
9.4. Market Attractiveness Analysis By Product Type
10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
10.1. Introduction
10.2. Historical Market Category-B (US$ Million) and Volume Analysis By Region, 2017 to 2021
10.3. Current Market Category-B (US$ Million) and Volume Analysis and Forecast By Region, 2022 to 2032
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. South Asia Pacific
10.3.5. East Asia
10.3.6. Middle East & Africa
10.4. Market Attractiveness Analysis By Region
11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
11.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
11.4.1. By Country
11.4.1.1. United States of America
11.4.1.2. Canada
11.4.2. By Product Type
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Product Type
11.6. Market Trends
11.7. Key Market Participants - Intensity Mapping
11.8. Drivers and Restraints - Impact Analysis
12. Latin America Market Analysis 2017 to 2021 and Forecast 2021 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
12.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. Brazil
12.4.1.2. Mexico
12.4.1.3. Rest of Latin America
12.4.2. By Product Type
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product Type
12.6. Market Trends
12.7. Key Market Participants - Intensity Mapping
12.8. Drivers and Restraints - Impact Analysis
13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. Germany
13.4.1.2. Italy
13.4.1.3. France
13.4.1.4. United Kingdom
13.4.1.5. Spain
13.4.1.6. BENELUX
13.4.1.7. Russia
13.4.1.8. Rest of Europe
13.4.2. By Product Type
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product Type
13.6. Market Trends
13.7. Key Market Participants - Intensity Mapping
13.8. Drivers and Restraints - Impact Analysis
14. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. India
14.4.1.2. ASEAN
14.4.1.3. Oceania
14.4.1.4. Rest of South Asia & Pacific
14.4.2. By Product Type
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product Type
14.6. Market Trends
14.7. Key Market Participants - Intensity Mapping
14.8. Drivers and Restraints - Impact Analysis
15. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
15.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. China
15.4.1.2. Japan
15.4.1.3. South Korea
15.4.2. By Product Type
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Product Type
15.6. Market Trends
15.7. Key Market Participants - Intensity Mapping
15.8. Drivers and Restraints - Impact Analysis
16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Category-B (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
16.4. Market Category-B (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. GCC Countries
16.4.1.2. Turkey
16.4.1.3. Northern Africa
16.4.1.4. South Africa
16.4.1.5. Rest of Middle East and Africa
16.4.2. By Product Type
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Product Type
16.6. Market Trends
16.7. Key Market Participants - Intensity Mapping
16.8. Drivers and Restraints - Impact Analysis
17. Emerging Countries Market Analysis
17.1. Introduction
17.1.1. Market Value Proportion Analysis, By Key Countries
17.1.2. Global Vs. Country Growth Comparison
17.2. United States of America Market Analysis
17.2.1. By Product Type
17.3. Canada Market Analysis
17.3.1. By Product Type
17.4. Mexico Market Analysis
17.4.1. By Product Type
17.5. Brazil Market Analysis
17.5.1. By Product Type
17.6. Germany Market Analysis
17.6.1. By Product Type
17.7. Italy Market Analysis
17.7.1. By Product Type
17.8. France Market Analysis
17.8.1. By Product Type
17.9. United Kingdom Market Analysis
17.9.1. By Product Type
17.10. Spain Market Analysis
17.10.1. By Product Type
17.11. Russia Market Analysis
17.11.1. By Product Type
17.12. BENELUX Market Analysis
17.12.1. By Product Type
17.13. China Market Analysis
17.13.1. By Product Type
17.14. Japan Market Analysis
17.14.1. By Product Type
17.15. S. Korea Market Analysis
17.15.1. By Product Type
17.16. India Market Analysis
17.16.1. By Product Type
17.17. ASEAN Market Analysis
17.17.1. By Product Type
17.18. Oceania Market Analysis
17.18.1. By Product Type
17.19. Turkey Market Analysis
17.19.1. By Product Type
17.20. GCC Countries Market Analysis
17.20.1. By Product Type
17.21. Northern Africa Market Analysis
17.21.1. By Product Type
17.22. South Africa Market Analysis
17.22.1. By Product Type
18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies (Transmission Components)
18.2. Market Share Analysis of Top Players
18.3. Market Presence Analysis
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Competition Deep Dive
19.3.1. Hubbell
19.3.1.1. Overview
19.3.1.2. Product Portfolio
19.3.1.3. Profitability by Market Segments (Product/Channel/Region)
19.3.1.4. Sales Footprint
19.3.1.5. Strategy Overview
19.3.2. Eaton Corporation (Cooper and Crouse-Hinds)
19.3.2.1. Overview
19.3.2.2. Product Portfolio
19.3.2.3. Profitability by Market Segments (Product/Channel/Region)
19.3.2.4. Sales Footprint
19.3.2.5. Strategy Overview
19.3.3. ABB (Thomas & Betts)
19.3.3.1. Overview
19.3.3.2. Product Portfolio
19.3.3.3. Profitability by Market Segments (Product/Channel/Region)
19.3.3.4. Sales Footprint
19.3.3.5. Strategy Overview
19.3.4. MacLean Power Systems
19.3.4.1. Overview
19.3.4.2. Product Portfolio
19.3.4.3. Profitability by Market Segments (Product/Channel/Region)
19.3.4.4. Sales Footprint
19.3.4.5. Strategy Overview
19.3.5. S&C Electric
19.3.5.1. Overview
19.3.5.2. Product Portfolio
19.3.5.3. Profitability by Market Segments (Product/Channel/Region)
19.3.5.4. Sales Footprint
19.3.5.5. Strategy Overview
19.3.6. Aluma-Form
19.3.6.1. Overview
19.3.6.2. Product Portfolio
19.3.6.3. Profitability by Market Segments (Product/Channel/Region)
19.3.6.4. Sales Footprint
19.3.6.5. Strategy Overview
19.3.7. Siemens
19.3.7.1. Overview
19.3.7.2. Product Portfolio
19.3.7.3. Profitability by Market Segments (Product/Channel/Region)
19.3.7.4. Sales Footprint
19.3.7.5. Strategy Overview
19.3.8. Schneider Electric
19.3.8.1. Overview
19.3.8.2. Product Portfolio
19.3.8.3. Profitability by Market Segments (Product/Channel/Region)
19.3.8.4. Sales Footprint
19.3.8.5. Strategy Overview
19.3.9. General Electric
19.3.9.1. Overview
19.3.9.2. Product Portfolio
19.3.9.3. Profitability by Market Segments (Product/Channel/Region)
19.3.9.4. Sales Footprint
19.3.9.5. Strategy Overview
19.3.10. Generac
19.3.10.1. Overview
19.3.10.2. Product Portfolio
19.3.10.3. Profitability by Market Segments (Product/Channel/Region)
19.3.10.4. Sales Footprint
19.3.10.5. Strategy Overview
19.3.11. TE Connectivity
19.3.11.1. Overview
19.3.11.2. Product Portfolio
19.3.11.3. Profitability by Market Segments (Product/Channel/Region)
19.3.11.4. Sales Footprint
19.3.11.5. Strategy Overview
19.3.12. Taylor Power Systems
19.3.12.1. Overview
19.3.12.2. Product Portfolio
19.3.12.3. Profitability by Market Segments (Product/Channel/Region)
19.3.12.4. Sales Footprint
19.3.12.5. Strategy Overview
19.3.13. Power Systems and Controls
19.3.13.1. Overview
19.3.13.2. Product Portfolio
19.3.13.3. Profitability by Market Segments (Product/Channel/Region)
19.3.13.4. Sales Footprint
19.3.13.5. Strategy Overview
19.3.14. Emerson Electric Co
19.3.14.1. Overview
19.3.14.2. Product Portfolio
19.3.14.3. Profitability by Market Segments (Product/Channel/Region)
19.3.14.4. Sales Footprint
19.3.14.5. Strategy Overview
19.3.15. Toshiba
19.3.15.1. Overview
19.3.15.2. Product Portfolio
19.3.15.3. Profitability by Market Segments (Product/Channel/Region)
19.3.15.4. Sales Footprint
19.3.15.5. Strategy Overview
19.3.16. Mitsubishi Electric
19.3.16.1. Overview
19.3.16.2. Product Portfolio
19.3.16.3. Profitability by Market Segments (Product/Channel/Region)
19.3.16.4. Sales Footprint
19.3.16.5. Strategy Overview
19.3.17. Socomec
19.3.17.1. Overview
19.3.17.2. Product Portfolio
19.3.17.3. Profitability by Market Segments (Product/Channel/Region)
19.3.17.4. Sales Footprint
19.3.17.5. Strategy Overview
20. Primary Survey Analysis
21. Assumptions and Acronyms Used
22. Research Methodology
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