Electricity transmission and distribution equipment market to grow at a CAGR of 4.5 % by 2024

The worldwide market for electricity transmission and distribution is expected to grow at a CAGR of roughly 4.5 % over the next five years, and will reach $34.3 B in 2024, from 26.4 B US$ in 2019, according to a new Global Info Research study.

The equipment covered in this report includes transformers, switchgears, transmission tower, power cables and wires.

The growth of transformers market will be the fastest. Transformers used in transmission and distribution industry will grow to $35.2 B in 2020. 

Key players in the electricity transmission and distribution market are: ABB, Siemens, Alstom, Schneider, Toshiba, GE, Hitachi, Fuji Electric, Mitsubishi Electric, China XD Group, SYOSUNG and TBEA.

Regions this report covers are North America, Europe and Asia-Pacific, South America, Middle East and Africa and the countries are India, China, USA, UK, and Japan.

Source: Micro Finance post