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

Electric power generation involves creating low-voltage electric power from water, coal, natural gas, nuclear power, or other primary source of fuel. Fuels such as oil, uranium, and gas with high heat content are more expensive than wood waste or coal, which possess low heat content. Electric power transmission and distribution play a key role in voltage conversion and in supplying power to the consumers. Power passes from a generator to a substation, through a transmission grid, and from there the voltage is reduced to enable distribution through shorter poles and smaller wires.

Amid the COVID-19 crisis, the global market for Power Transmission and Distribution Equipment estimated at US$256.5 Billion in the year 2020, is projected to reach a revised size of US$312.8 Billion by 2026.

Wire & Cable is projected to grow at a 4.7% CAGR to reach US$117.7 Billion.

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.

Wire & Cable to Reach $117.7 Billion by 2026.

In the global Wire & Cable, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$33 Billion in the year 2020 will reach a projected size of US$47.6 Billion by 2026. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.7 Billion by the year 2026.