How Is The Power Generation, Transmission And Control Equipment Market Segmented?
The power generation, transmission and control equipment market covered in this report is segmented –
1) By Type: Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, relay and industrial controls
2) By Application: Residential, Commercial, Automotive, Other Applications
3) By End User Sector: Private, Public
Subsegments:
1) By Transformer: Power Transformer, Distribution Transformer, Instrument Transformer
2) By Electric Motor And Generator: AC Motors, DC Motors, Synchronous Generators, Asynchronous Generators
3) By Switchgear And Switchboard Apparatus: High Voltage Switchgear, Low Voltage Switchgear, Circuit Breakers, Disconnect Switches
4) By Relay And Industrial Controls: Electromechanical Relays, Solid State Relays, Programmable Logic Controllers (PLCs), Control Panels
Power Generation, Transmission And Control Equipment Market Driver: Elevated Demand For Electricity Drives Future Growth In The Power Generation, Transmission, And Control Equipment Market
The rising demand for electricity is expected to propel the growth of the power generation, transmission, and control equipment market going forward. Electricity is a form of energy resulting from the existence of charged particles (such as electrons or protons), either statically as an accumulation of charge or dynamically as a current of electrons. Electricity demand attracts investments, spur innovation, and lead to the development of more advanced and efficient technologies, and further encourages research and development efforts to improve the efficiency and reliability of power generation, transmission, and control equipment. For instance, in August 2023, according to Exxon Mobil Corporation, a US-based natural gas company, electricity demand would rise by 1.8%-year, accounting for roughly 50% of this industry by the year 2050. Therefore, rising electricity demand is driving the growth of the power generation, transmission, and control equipment market.
Power Generation, Transmission And Control Equipment Market Driver: Scada Systems Revolutionizing The Relay And Industrial Control Industry For Enhanced Efficiency And Productivity
The relay and industrial control industry is increasingly adopting SCADA (Supervisory control and data acquisition) systems to enhance process efficiency and productivity. SCADA systems are used to remotely control industrial processes such as power generation, fabrication, and refining through coded signals over cloud channels. The applications of these SCADA systems are expected to rise mainly due to their scalability, ease of upgrading, the emergence of global smart grid projects, and increased use of cloud technologies. The market is also benefitting from the high demand for energy and renewable resource projects. For instance, in May 2022, Electronics Corporation of India Limited (ECIL), an India-based government-owned company launched programmable logic controller (PLC) and supervisory control and data acquisition (SCADA) software. The introduction of PLC and SCADA software is anticipated to expand the adoption of automation and controls across a variety of industries and to enhance the effectiveness and dependability of industrial processes by enabling real-time monitoring and control.
Global Power Generation, Transmission And Control Equipment Market Major Players
Major companies operating in the power generation, transmission and control equipment market include Hitachi Ltd., Siemens AG, General Electric Company, Caterpillar Inc., Schneider Electric SE, Mitsubishi Electric Corp., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., ABB Ltd., Toshiba Corporation, Cummins Inc., Eaton Corporation, Larsen & Toubro Limited, Alstom SA, Nidec Corp., Rolls-Royce Holdings plc, Emerson Electric Co., Kawasaki Heavy Industries Ltd., Rockwell Automation Inc., Fuji Electric Co. Ltd., Wärtsilä Corporation, Bharat Heavy Electricals Limited, Bharat Electronics Limited, Crompton Greaves Ltd., Doosan Heavy Industries & Construction Co. Ltd.
Global Power Generation, Transmission And Control Equipment Market Trend: ABB Launches High-Efficiency IE5 SynRM Liquid-Cooled Motors, Pioneering Innovation in Power Generation and Control Equipment Marke
Major companies operating in the power generation, transmission, and control equipment market are focusing on innovative products such as liquid-cooled motor. A liquid-cooled motor uses circulating liquid to manage its temperature, preventing overheating and improving performance by dissipating excess heat through a cooling system. For instance, in February 2024, ABB Ltd., a Switzerland-based automation company launched, IE5 SynRM motor. IE5 SynRM Liquid-cooled motors merge ultra-efficient SynRM technology with high-performance liquid cooling, delivering compact, powerful solutions that cut energy and maintenance costs, making them an ideal upgrade over traditional induction motors.
Regional Outlook For The Global Power Generation, Transmission And Control Equipment Market
Asia-Pacific was the largest region in the power generation, transmission and control equipment market in 2024. Western Europe was the second largest region in the power generation, transmission and control equipment market. The regions covered in the power generation, transmission and control equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the power generation, transmission and control equipment 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 Power Generation, Transmission And Control Equipment Market?
The power generation, transmission, and control equipment market consist of sales of low-power transformers, medium-power transformers, high-power transformers, electric motors, electric generators, switchboards, switchgear, relays, industrial controls, and other power generation, transmission, and control equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 Power Generation, Transmission And Control Equipment Industry?
The power generation, transmission, and control equipment market research report is one of a series of new reports from The Business Research Company that provides power generation, transmission, and control equipment market statistics, including power generation, transmission, and control equipment industry global market size, regional shares, competitors with a power generation, transmission and control equipment market share, detailed power generation, transmission, and control equipment market segments, market trends and opportunities, and any further data you may need to thrive in the power generation, transmission, and control equipment industry. This power generation, transmission, and control equipment 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.
