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Global Smart Grid T&D Equipment Market to grow at a CAGR of 16.23% during the period 2016-2020

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Published on : May 18, 2016

ALBANY, New York, May 18, 2016: The report is a comprehensive study on the smart grid transmission and distribution equipment market and presents a detailed review of the major trends affecting the growth of the market. The size of the market at present and the estimated size of the market by the end of the forecast period has also been presented. The chief factors impacting the major regions and the key trends and opportunities experienced by  leading vendors in the market are also highlighted in this study. Moving further, the chief outcomes of Porter’s five forces on the market are elaborated under this study. 

The global market for smart grid transmission and distribution equipment is predicted to expand at a CAGR of over 16% from 2016 to 2020. The report starts by presenting the market segmentation. In terms of product, the market is segmented into high-voltage direct current (HVDC), flexible ac transmission system (FACTS), volt-ampere reactive (VAR) volt-ampere reactive (RTU), and synchrophasors. Amongst these, the segment of HVDC led the market in 2015 and constituted a share of approximately 79% in the market. This is owing to the development in offshore wind farms globally. 

In the following section, the major factors driving as well as restraining the growth of the market have been presented. The increasing advancement of grid equipment is a major factor propelling the growth of the market. In addition, as per the International Energy Agency, major investments have been made for the replacement and refurbishment of transmission and distribution infrastructure globally, hence stimulating the development of the global smart grid transmission and distribution equipment market. Furthermore, the rising substation control and automation will positively impact the growth of the market.

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Moving further, the report presents the geographical segmentation of the market. In terms of geography, the report segments the market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Amongst these, the Americas led the market and are predicted to cross US$7 bn by 2020. This is owing to the connection and addition of renewables to grids and the replacement of old grids within the Americas. The market is poised to expand expeditiously within Canada, the U.S., Mexico, and Brazil.

The last chapter of the report encapsulates the competitive landscape under which the major vendors leading the market have been presented. These vendors have been elaborated on their key attributes such as profile overview, product introduction, and contact information. Some of the names of these vendors are GE-Alstom Grid, ABB, Prysmian, Siemens, EATON, Abengoa, First Subsea, General Cable, Fujikura, Schweitzer Engineering Laboratories, Honeywell, Schneider Electric, and Nexans. 

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