DUBLIN--(BUSINESS WIRE )--The "Power Transmission and Distribution Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Power Transmission and Distribution Equipment Market to Reach $312.8 Billion by 2026

Amid the COVID-19 crisis, the global market for Power Transmission and Distribution Equipment estimated at US$257.5 Billion in the year 2022, is projected to reach a revised size of US$312.8 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Wire & Cable, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$117.7 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Switchgear segment is readjusted to a revised 5.3% CAGR for the next 7-year period. This segment currently accounts for a 25% share of the global Power Transmission and Distribution Equipment market.

The U.S. Market is Estimated at $68.2 Billion in 2022, While China is Forecast to Reach $63.7 Billion by 2026

Transformers can be either integrated in compact substations or free-standing; pad, platform, ground, pole-mounted, and should exhibit high performance thermally, magnetically and electrically. Transformers need to be designed in such a way that they are easy to handle, install, lift, and transport. The Power Transmission and Distribution Equipment market in the U.S. is estimated at US$68.2 Billion in the year 2022. The country currently accounts for a 26.99% share in the global market.

China, the world's second largest economy, is forecast to reach an estimated market size of US$63.7 Billion in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$74.6 Billion by the end of the analysis period.

Major developments occurring in power transmission and distribution (T&D) systems across the world include electrification of transportation and heating for long term reduction of carbon emissions; decentralization through distributed generation, storage, and demand response; and digitization through the integration of smart sensor, smart meters, connected devices, Internet of Things (IoT), and other digital network technology systems and solutions.

For more information about this report visit https://www.researchandmarkets.com/r/u31e5t

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900