Europe Power Transmission and Distribution and Control Equipment Market was valued at USD 85 Billion in 2022 and is projected to reach USD 125 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The European power transmission, distribution, and control equipment market is experiencing significant growth, driven by the increasing integration of renewable energy sources and the need for modernized infrastructure. In 2022, the market generated a revenue of USD 43.9 billion and is projected to reach USD 65.2 billion by 2030, growing at a CAGR of 5.1% from 2023 to 2030. This expansion underscores the critical role of efficient power transmission and distribution systems in supporting Europe's energy transition.
One of the primary challenges facing the industry is the supply bottleneck for essential components like transformers. Hitachi Energy, the world's largest transformer manufacturer, has reported being "overwhelmed" by the surge in demand, leading to lead times extending up to three to four years. This shortage threatens to delay key infrastructure projects aimed at increasing the share of renewable energy across the continent.
To address these challenges, substantial investments are being made. For instance, German grid operator Amprion has partnered with Hitachi Energy in contracts exceeding $2 billion to construct four converter stations. These stations are integral to Germany's Korridor B project, designed to enhance the high-voltage grid and accommodate renewable energy sources such as wind and solar power. The project aims to create two 2 GW power lines, with completion expected in the early 2030s, addressing current grid limitations that have led to the curtailment of over 10% of wind power generated in northern Germany.
Industry requirements are evolving to meet the demands of this transformation. There is a pressing need for advanced equipment capable of integrating diverse energy sources, enhancing grid stability, and ensuring efficient power distribution. This includes the deployment of smart grids, advanced switchgear, and high-capacity transformers. Additionally, the expansion of interconnections between national grids is crucial to facilitate cross-border energy flows and improve overall system resilience.
Reflecting on personal experiences within the industry, the urgency for modernizing Europe's power infrastructure is palpable. Collaborating with various stakeholders, it's evident that the integration of renewable energy not only necessitates technological advancements but also strategic planning and investment. The challenges posed by equipment shortages highlight the importance of proactive measures to align manufacturing capacities with the ambitious goals of the energy transition.
In the realm of data transmission, the 100 Gigabit Fiber Optic Transceiver market is also witnessing rapid growth, driven by the expansion of data centers and the proliferation of cloud computing. In 2023, shipments reached 4.5 million units, with data centers accounting for 72% of demand. This surge underscores the critical need for high-speed data transmission solutions to support the increasing digitalization across industries.
In conclusion, the European power transmission, distribution, and control equipment market is at a pivotal juncture, with substantial growth prospects tempered by supply chain challenges. Addressing these issues requires coordinated efforts from industry players, policymakers, and investors to ensure that infrastructure development keeps pace with the accelerating energy transition.
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Mitsubishi
ABB
Osram
Eaton
Siemens
GE
Larsen and Toubro
Kirloskar
Acme Electric
Schneider Electric
Tebian Electric Apparatus Stock
Crompton Greaves
BHEL
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Power Transmission and Distribution and Control Equipment Market
Transformers
Switchgear
Circuit Breakers
Transmission Lines
Control Systems
Substation Automation Equipment
Low Voltage (up to 1 kV)
Medium Voltage (1 kV to 36 kV)
High Voltage (above 36 kV)
Utility Sector
Industrial Sector
Commercial Sector
Renewable Energy Sector
Residential Sector
Power Generation
Power Distribution
Power Transmission
Power Control
Renewable Energy Integration
Conventional Technology
Smart Grid Technology
Wireless Control Technology
Digital Control Systems
Advanced Metering Infrastructure (AMI)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Power Transmission and Distribution and Control Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Power Transmission and Distribution and Control Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Power Transmission and Distribution and Control Equipment Market, By Type
6. Europe Power Transmission and Distribution and Control Equipment Market, By Application
7. Europe Power Transmission and Distribution and Control Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Power Transmission and Distribution and Control Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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