Power Transmission And Distribution Market 2030: The Role of High-Voltage Systems

Power Transmission And Distribution Market Growth & Trends

The global power transmission and distribution market size was valued at USD 330,287.71 million in 2023 and expected to expand at a CAGR of 3.9% from 2024 to 2030. The market is experiencing significant growth, driven primarily by the increasing demand for electricity, particularly in emerging economies. Rapid industrialization, urbanization, and population growth are key factors boosting the need for expanded and upgraded transmission and distribution (T&D) infrastructure. The shift towards renewable energy sources, such as wind and solar, is also driving investments in smart grids and advanced T&D systems to efficiently integrate and manage renewable energy into the grid.

Technological advancements in digitalization, automation, and the implementation of smart grids are transforming the traditional T&D landscape. These innovations allow for better real-time monitoring, control, and optimization of the power flow, resulting in enhanced grid reliability and reduced energy losses. The adoption of advanced T&D technologies, such as high-voltage direct current (HVDC) and flexible AC transmission systems (FACTS), is further enabling the efficient long-distance transmission of electricity, addressing the need for improved grid connectivity and stability.

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Government initiatives and regulatory frameworks promoting grid modernization and electrification are propelling the market forward. Countries worldwide are making significant investments to upgrade aging infrastructure, reduce carbon emissions, and enhance energy efficiency. Additionally, the ongoing electrification of remote and rural areas, particularly in developing regions, is creating opportunities for T&D market players. The global focus on sustainability and clean energy transition is expected to continue fueling growth in the power transmission and distribution sector in the coming years.

Power Transmission And Distribution Market Report Highlights

• Based on asset type, transmission line held the market with the largest revenue share of 59.93% in 2023. This leading position is driven by the crucial role that transmission lines play in transporting electricity over long distances, from power generation sites to distribution networks and end consumers.
• Based on end use, Electric utility held the market with the largest revenue share of 57.73% in 2023. This substantial share is largely driven by the essential role electric utilities play in generating, transmitting, and distributing electricity to end users across various industries and households.
• In North America, the power transmission and distribution market is witnessing significant modernization, driven by the need to replace aging infrastructure and accommodate the growing adoption of renewable energy.

Power Transmission And Distribution Market Segmentation

Grand View Research has segmented global power transmission and distribution market report on the basis of asset, end use and region:

Asset Outlook (Revenue, USD Million, 2018 – 2030)

• Transmission Line
• Distribution Line

End Use Outlook (Revenue, USD Million, 2018 – 2030)

• Electric Utility
• Industrial
• Renewables

Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • Spain
  • France
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE

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