Transmission Components Market is Set to Surpass US$ 80.2 Bn by year 2032-end on the Back of Recent Rise in Number of Electrification Projects Worldwide. Report by Future Market Insights, Inc.

News provided by

Persistence Market Research Pvt. Ltd.

Nov 14, 2022, 19:30 ET

Replacement of Aging Infrastructure in Germany to Fuel Sales of Transmission Substation Components. 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.

NEWARK, Del., Nov. 15, 2022 /PRNewswire/ -- The global transmission components market is estimated to grow at a CAGR of 5.3% during the forecast period from 2022 to 2032. The market is projected to reach a valuation of US$ 80,279.2 Mn by the end of 2032 from US$ 47,966.7 Mn in 2022. Development of advanced electrical line infrastructure in emerging countries is anticipated to propel the global transmission components market during the forecast period.

Electricity transmission and distribution networks, as well as electrification projects, are being supported by various governments due to the rising global electricity demand and growing emphasis on expanding the installed capacity of renewable energy sources. Due to these plans and investments, as well as investments made to replace aging electric infrastructure in various regions, there will likely be an increasing demand for transmission components.

Get Full PDF Sample Copy of Report (Including Full TOC, List of Tables & Figures, Chart): https://www.futuremarketinsights.com/reports/sample/rep-gb-15742

Growing requirements for protective devices to limit the voltage load on an equipment and increasing development of new power grids to reduce energy losses are bolstering the demand for transmission components. Increasing demand for electricity from industrial, commercial, and residential sectors, as well as growth in the production of electricity from renewable sources is anticipated to enhance the electric infrastructure all over the globe.

This is further expected to increase the demand for transmission components in the next ten years. Increasing government expenditure to supply electricity to rural areas, as well as growing emphasis on commercial facilities operating in harsh weather conditions with high lightning strikes, will drive the demand for residential and commercial transmission components forward.

Key Takeaways from Transmission Components Market Study

By product type, the switches segment is expected to witness a CAGR of 6.1% in the global transmission components market during 2022 to 2032.
North America is expected to account for more than 20% of the global transmission components market share during the period of 2022 and 2032.
Germany is projected to account for nearly 19.7% of the Europe transmission components market share by the end of 2022.
By product type, the anchoring and foundation segment is likely to witness steady growth at a CAGR of 6.1% from 2022 to 2032.
From 2017 to 2021, the global transmission components market exhibited growth at a 2.4% CAGR.

"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, the demand for transmission components is anticipated to grow," says a lead analyst at Future Market Insights.

Any question concerning transmission components market report or additional info click here: https://www.futuremarketinsights.com/ask-question/rep-gb-15742

Why is the Demand for Transmission Components Growing Exponentially?

Increasing demand for transmission components from a wide range of end-use industries for usage in substations, transmission lines, and other electrical networks is estimated to bode well for the global market in the next ten years. Expansion of electricity production capacities is also projected to positively affect the global transmission components market.

In the evaluation period, the market is expected to be boosted by the increasing number of electrification projects in China and India, as well as network expansion projects to support renewable energy integration in the United States, Europe, and other areas of the globe. Demand for electricity is expected to rise further during the forecast period owing to increasing need from end users, as well as growing electrification of transportation and adoption of electric vehicles.

Competitive Landscape: Transmission Components Market

Some of the leading companies present in the global transmission components market are Siemens Energy, General Electric (GE), Eaton, Hubbell, Schneider Electric, and Mitsubishi Electric among others.

Manufacturers of transmission components are investing a significant amount of money on product development to bolster their presence in the industry. Key players are further investing in the development of new software technology to enhance the performance of transmission components.

Buy complete assessment of transmission components market now: https://www.futuremarketinsights.com/checkout/15742

Get More Insights into Transmission Components Market

The research report analyzes the market demand trend for transmission components system. The global market based upon macroeconomic factors, market trends & market background. As per Future Market Insights research scope the transmission components system market report is studied and analyzed on the following segments such as by product type, & regions. The transmission components market report gives us qualitative and quantitative information about the companies.

Table of Content

1. Executive Summary

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 Get full TOC…

About the Industrial Automation Division at Future Market Insights

The industrial automation division of FMI offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing and identifying new revenue prospects.

Explore FMI's Extensive Ongoing Coverage on Industrial Automation Domain:

Transformer Monitoring System Market Outlook: The global transformer monitoring system market is set to be valued at US$ 2,785.2 Mn in 2022. It is projected to grow at a CAGR of 8.9% from 2022 to 2032 to reach a valuation of US$ 6,539.2 Mn by the end of 2032.

Automatic Distillation Analyzer Market Analysis: The Automatic Distillation Analyzer market share is projected to reach US$ 1,667.7 Mn in 2032. According to FMI, the market is estimated to be valued at US$ 922.5 Mn in 2022 and is projected to increase at a CAGR of 6.1% in the forecast period from 2022 to 2032.

Pedestrian Access Control System Market Forecast: Global Pedestrian Access Control System market will be valued at US$ 2,693.0 Mn in 2022 and will increase at a CAGR of 5.8% from 2022 to 2032. The top 3 countries are predicted to control around 26 to 28% of the market by the end of 2022, as sales of Pedestrian Access Control Systems are expected to grow.

Mini Cranes Market Size: The global mini cranes market value was worth approximately US$ 379.3 Mn in 2021 and is projected to exhibit growth at a CAGR of 6.0% from 2022 to 2032. The market is anticipated to reach a valuation of US$ 719.1 Mn by the end of 2032.

Air Pressure Sensor Market Trends: The Air Pressure Sensor Market value is projected to reach US$ 38,485.7 MN in 2032 with a CAGR of 8.0%. The market for air pressure sensors is primarily driven by the growing industrial and automotive sectors as well as the increasing demand for cutting-edge technologies around the globe.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us

Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Report: https://www.futuremarketinsights.com/reports/transmission-components-market

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg

SOURCE Persistence Market Research Pvt. Ltd.