Albany, NY -- (SBWIRE) -- 02/03/2014 -- Increasing use of renewable energy sources, aging infrastructure, and rising demand for electricity are encouraging the need to improve transmission efficiency and energy security, thus contributing to the growth of electrical transmission and distribution market. This market is forecasted to reach the market value of $33.45 billion by the end of the year 2012 owing to the technological developments in transmission grid technology.
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Most regions and countries are expected to experience strong growth in electric power transmission industry as governments of most countries are engaging in upgrading and expanding the transmission and distribution infrastructure. Emerging economies in power transmission and distribution equipment market are expected to drive the growth of this market, while the US and European nations are expected to remain major contributors due to their tremendous need for electrical power. This industry is further expected to witness market growth as economies continue to invest heavily in electricity generation, transmission, and distribution networks.
As national, regional, and continental electricity grids are interconnected, growth in national and regional markets is also expected to increase significantly. With the introduction of new entrants in the market competition is getting intense thus resulting in the improvement of product quality and features.
This research report analyzes this market depending on its market segments and major geographies. Geographies analyzed under this research study are North America, Asia Pacific, Europe, and Rest of the World. This research report provides complete analysis of major market segments, current market trends, factors driving market growth, restraints, industry structure, and market projections for upcoming years. This report also provides analysis of technological improvements in this industry, Porter’s five force model analysis, and complete company profiles of top market players. It provides review of micro and macro factors significant for existing market players and new entrants along with detailed value chain analysis.
Some of the key players dominating this market are ABB (Asea Brown Boveri) Ltd, Alstom, BICC Cables, Ceram, Groupe Schneider SA, NKF Kabel BV, NKT Cables AS, Pirelli SPA, Siemens EV AG, Smit Transformatoren BV, and others.
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