The global electric power transmission and distribution equipment market is anticipated to grow at a lucrative rate during the forecast period. Transmission of electric power is the transfer of bulk electrical energy to substations from power generating plants. Substations/population centers are located near demand centers and electrical energy is further delivered through a distribution system network, distribution being the final stage in the delivery of electricity to consumers. Electrical transmission is distinct from electrical distribution, in terms of carrying large quantities of high voltage power over large distances; thus there are differences in the equipment used for each. Cables, conductors, switches, circuits, convertors, capacitors, breakers, transformers, meters, etc., of varying capacities and characteristics; form the basic components in this process. Technology-wise categorization includes high-temperature superconducting equipment, sulfur hexafluoride emissions reductions, variable frequency transformers, new transformer core shapes, amorphous core transformers, arc-fault circuit interrupters, HVDC and smart grid. Products demanded are transformers (power, distribution, others) and switchgear and switchboard apparatus.
The type of transmission lines used: overhead transmission, sub-transmission, or underground transmission, determine the equipment necessity. A basic distribution system consists of substations, poles, lines, distribution feeder circuits, switches, protective equipment, primary circuits, distribution transformers, secondary’s and services to handle voltages ranging from 120-34000 volts. Components of the distribution system are determined by the end user to be served, customers being industrial, commercial, residential, and transportation. The electric power transmission and distribution equipment market size and sales revenue have been increasing, driven by the increasing office, commercial, industrial and residential needs for electrical energy.
A major concern to be tackled by competitors in the electric power transmission and distribution equipment market is the loss of electrical energy during transmission and distribution. Equipment that prevent maximum loss over longer distances needs to be devised. The power, reliability, frequency, voltage, and load factor capabilities of the system need to be designed to fulfill the customers’ needs as well as be cost-effective. Equipment need to be blackout, brownout, fault, fluctuation, and climate variation resistance evaluating the investments made in them. Wireless power transmission options are also being explored for this purpose. Transmission and distribution equipment need to meet protective equipment guidelines, regulatory standards of respective governments and quality, material, and performance standards set by the industry regulatory body.
Manufacturers and suppliers of electrical transmission and distribution equipment have been growing in the USA, India, and China with the U.K., Taiwan, Germany, and Turkey not far behind in manufacturing. Mitsubishi Electric, ABB Ltd., Tebian Electric Apparatus Stock Company Limited, Osram AG, Eaton, Crompton Greaves, BHEL, Siemens AG, GE, Larsen & Toubro, Kirloskar Ltd., Acme Electric Corporation, Schneider Electric, etc. are few key players of this sector.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.