Global electric transmission and distribution equipment market to grow at a CAGR of 5 % in 2024

The global electric transmission and distribution equipment market is expected to reach an estimated $324 B by 2024 with a CAGR of 5 % from 2019 to 2024 according to Report Linker.

The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.

Emerging trends, which have a direct impact on the dynamics of the electric transmission and distribution equipment industry, include growing implementation of smart grid technology, implementation of advanced metering infrastructure, and transition from conventional to modular switchgears.

The key players in this amrket are: ABB, Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Xian XD Switchgear Electric, and Crompton Greaves.

The regions covered in this repoert are: North America (US, Canada, Mexico), Europe (Russia, Germany, United Kingdom, France, Italy), Asia Pacific (China, India, South Korea, Japan), The Rest of the World (Brazil, Saudi Arabia, South Africa).

Source: Yahoo Finance