About T&D equipment
Transmission and distribution (T&D) infrastructure supplies electricity to power substations and then to the electric utility, which delivers electricity to industrial and domestic consumers.
Technavio’s analysts forecast the T&D equipment market in Europe to grow at a CAGR of 3.55% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the T&D equipment market in Europe for 2017-2021. To calculate the market size, the report considers the new installations and retrofit market. The market sizing is limited to power cables, switchgear, and transformers only.Technavio's report, T&D Equipment Market in Europe 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – T&D Equipment Market in Europe 2017-2021
Technavio recognizes the following companies as the key players in the T&D equipment market in Europe: ABB, General Cable, Nexans, Prysmian, and Siemens.
Other Prominent Vendors in the market are: AEI Cables, Belden, E+I Engineering, Eaton, Furukawa Electric Industrial Cable, General Electric, Hyundai Heavy Industries, International Wire, JDR Cable Systems, LS Cable, Mitsubishi Electric, nkt cables, S&C Electric Company, Schneider Electric, SKEMA, Southwire, and Sumitomo Electric Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is addition and refurbishment of T&D lines. The power sector of Europe is a mature market with well-established grid infrastructure and 100% electrification rate. However, the rising pressure on the power grid due to the evolving energy landscape, the development of an interconnected grid, and aging infrastructure are encouraging vendors to upgrade and extend T&D lines in Europe.”
According to the report, one of the major drivers for this market is offshore wind energy. The opportunities for offshore wind generation are enormous. The offshore wind generation is relatively a new technology; therefore, the cost of power generation is currently high. However, during the forecast period, we expect the cost of power generating to reduce and the technology to advance. This is expected to create a demand for the installation of new offshore wind turbines, in turn, will drive the demand for subsea power cables for transporting electricity ashore. World's 90% of the offshore wind energy plants are installed in Northern Europe, Baltic, Irish seas, and the English Channel.
Further, the report states that one of the major factors hindering the growth of this market is increase in distribution generation. A distribution generation refers to the small-scale power generation, which is done with the help of generators or renewables at the point of consumption. This is gaining popularity due to the reduced cost of energy systems such as solar PV and support from governments due to the system's economic and emission benefits.
ABB, General Cable, Nexans, Prysmian, Siemens, AEI Cables, Belden, E+I Engineering, Eaton, Furukawa Electric Industrial Cable, General Electric, Hyundai Heavy Industries, International Wire, JDR Cable Systems, LS Cable, Mitsubishi Electric, nkt cables, S&C Electric Company, Schneider Electric, SKEMA, Southwire, Sumitomo Electric Industries.