How Is The Electric Power Transmission, Control, And Distribution Market Segmented?
The electric power transmission, control, and distribution market covered in this report is segmented –
1) By Type: Electric Power Distribution, Electric Bulk Power Transmission And Control
2) By Distribution Channel: Online, Offline
3) By Application: Government, Commercial, Residential
Subsegments:
1) By Electric Power Distribution: Low-Voltage Distribution, Medium-Voltage Distribution, High-Voltage Distribution
2) By Electric Bulk Power Transmission And Control: High-Voltage Transmission, Substations, Transmission Lines, Grid Control Systems, Voltage Regulators, Switchgear And Protection Systems
What Is Driving The Electric Power Transmission, Control, And Distribution Market? Growing Use Of Electricity In The Transportation Industry Boosts Electric Power Transmission, Control, And Distribution Market
The increasing applications of electricity in the transportation industry are expected to increase the electricity demand, driving the electric power transmission, control, and distribution market. Electricity in the transportation industry refers to the use of electric power as a primary energy source for operating vehicles and infrastructure, promoting sustainable and efficient mobility solutions. Advancements in battery technology, government incentives, the rising need to reduce carbon emissions, and growing investments in electric vehicle infrastructure are driving the increasing applications of electricity in the transportation industry. Electric power transmission, control, and distribution enable the efficient delivery and regulation of electricity, ensuring reliable power supply and grid stability for the expanding electric transportation systems. For instance, in January 2024, according to the International Council on Clean Transportation, a US-based non-profit organization, since the third quarter of 2021, quarterly electric vehicle (EV) sales have consistently risen, with their share of total light-duty vehicle sales climbing from approximately 3% in the first quarter of 2021 to over 10% by the third quarter of 2023. Hence, the growing applications of electricity in the transportation industry will further drive the electric power transmission, control, and distribution market.
What Is Driving The Electric Power Transmission, Control, And Distribution Market? Increasing Demand For Electricity Fuels Growth In The Electric Power Transmission, Control, And Distribution Market
The increasing demand for electricity is expected to propel the growth of the electric power transmission, control, and distribution market going forward. Electricity is the flow of electric charge through conductors, powering various electrical devices and systems. Power transmission, control, and distribution are essential for delivering electricity from generation sources to end-users while maintaining safety, efficiency, and reliability throughout the process. For instance, in September 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, in Colombia, the total net electricity production reached 7.0 terawatt-hours (TWh) in June 2023, marking a 1.1% increase on a year-to-date basis. Therefore, the increasing demand for electricity is driving the growth of the electric power transmission, control, and distribution market.
Who Are The Major Players In The Global Electric Power Transmission, Control, And Distribution Market?
Major companies operating in the electric power transmission, control, and distribution market include Tokyo Electric Power Co Holdings Incorporated, Korea Electric Power Corporation, Iberdrola SA, Electricite De France SA, E.ON SE, American Electric Power Co Inc., Ameren Corporation, American Transmission Co, Avangrid Inc., Berkshire Hathaway Inc., Black & Veatch Corp, Schneider Electric SE, Burns & Mcdonnell Engineering India Private Ltd., Dominion Energy Inc., Duke Energy Corporation, Southern California Edison Company, Engie SA, Exelon Corporation, Great Southwestern Construction Inc., R. & J Electric LLC, National Grid Plc, NextEra Energy Inc., NRG Energy Inc., Oncor Inc., Pacific Gas and Electric Company, PAR Electrical Contractors LLC., PPL Electric Utilities Corporation, Power Engineers Company, Power Consulting Associates LLC, Quanta Services Inc., Sargent & Lundy LLC, Southwestern Public Service Company, Tennessee Valley Authority, Western Area Power Administration Company.
What Are The Key Trends Of The Global Electric Power Transmission, Control, And Distribution Market? Evolving Utility Business Models In The Power Generation Market
Utility business models are continuously evolving from traditional electricity generation models to new business models such as distributed generation models to cut costs and improve transmission and distribution efficiencies. Distributed generation refers to localized power generation using solar panels and other low-cost technologies to produce electricity close to the point of consumption. Consumers are switching to more cost-effective and controlled distributed generation networks. Therefore, electric power generation companies should now focus on distributed generation rather than a centralized electricity generation model. Many companies are also using new revenue models and incentives instead of traditional cost-of-service models. For instance, New York’s (Reforming Energy Vision) REV docket is focused on distributed generation and performance-based incentives to push utilities to serve grid needs. Electric utilities in states like California, Minnesota, and Massachusetts are also involved with the REV initiative. According to the IEA's semi-annual Power Market Report, worldwide electricity demand increased by roughly 5% in 2021 and is expected to increase by 4% in 2022, owing to the global economic recovery.
What Are The Key Trends Of The Global Electric Power Transmission, Control, And Distribution Market? Developing Advanced Relays Enhances Reliability And Stability Amidst Evolving Demands
Major companies operating in the electric power transmission, control, and distribution market are focused on developing advanced power protection relays to enhance the reliability, adaptability, and stability of India's power distribution grid amidst evolving energy demands. An advanced power protection relay is a sophisticated device designed to monitor electrical systems for abnormal conditions, such as overcurrents or faults, and automatically trip circuit breakers to isolate and protect equipment from damage. For instance, in October 2024, Hitachi Energy, a Switzerland-based technology company, launched the Relion REF650, designed for India's medium-voltage power distribution grid. This product offers enhanced modularity, robust security, and a simplified interface to address the dynamic power quality requirements of utilities and industrial facilities. It plays a crucial role in supporting the integration of renewable energy sources and EV charging infrastructure, contributing to a more stable and adaptive electricity distribution network.
Regional Outlook For The Global Electric Power Transmission, Control, And Distribution Market
Asia-Pacific was the largest region in the electric power transmission, control, and distribution market in 2024. Western Europe was the second largest region in the electric power transmission, control, and distribution market. The regions covered in the electric power transmission, control, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the electric power transmission, control, and distribution market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Defines the Electric Power Transmission, Control, And Distribution Market?
The electric power transmission, control, and distribution market include revenues earned by entities by providing services such as single-phase AC system, two-phase AC system, three-phase AC system, and DC system. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Electric Power Transmission, Control, And Distribution Industry?
The electric power transmission, control, and distribution market research report is one of a series of new reports from The Business Research Company that provides electric power transmission, control, and distribution market statistics, including electric power transmission, control, and distribution industry global market size, regional shares, competitors with an electric power transmission, control, and distribution market share, detailed electric power transmission, control, and distribution market segments, market trends and opportunities, and any further data you may need to thrive in the electric power transmission, control, and distribution industry. This electric power transmission, control, and distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
