The New Energy and Power Equipment Structural Parts Market was valued at USD 65.4 Billion in 2022 and is projected to reach USD 145.6 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030. The increasing demand for renewable energy solutions, especially wind, solar, and electric power generation, is expected to drive the market’s growth. This surge is primarily attributed to the global push for decarbonization and the increasing investments in infrastructure to support green energy generation technologies. The adoption of innovative materials and manufacturing techniques to optimize the performance and efficiency of structural parts for energy and power equipment is also contributing to market expansion.
In addition to renewable energy applications, the growing need for electric vehicles (EVs) and energy storage systems has created significant demand for specialized structural components. This includes lightweight, high-strength materials that can withstand operational stresses and contribute to energy efficiency. The rising focus on improving power generation efficiency and reducing the environmental footprint of power equipment is further accelerating market growth. With continued technological advancements and increasing government incentives, the New Energy and Power Equipment Structural Parts Market is expected to see sustained growth throughout the forecast period.
Download Full PDF Sample Copy of Market Report @
New Energy and Power Equipment Structural Parts Market Research Sample Report
The New Energy and Power Equipment Structural Parts market encompasses a wide range of applications, each vital to the construction, efficiency, and durability of various power systems. These parts play an essential role in ensuring that energy production, transmission, and transformation equipment meet the growing demand for clean and renewable energy sources. The market is witnessing significant growth due to advancements in renewable energy technologies, including solar, wind, and energy storage solutions. Structural components are integral to enabling these systems to function efficiently, and their applications are becoming increasingly diverse as the industry evolves.
In particular, the market is segmented into several key applications, with each requiring unique materials, designs, and manufacturing processes. The main subsegments include Photovoltaic Inverters, Sulfur Hexafluoride Airtight Boxes, Transmission and Transformation Switch Cabinets, and Other equipment-specific parts. These components not only contribute to the overall structural integrity of energy systems but also enhance performance and longevity, making them crucial for the ongoing success of the global energy transition to cleaner and more sustainable sources. In this report, we will explore the various applications of New Energy and Power Equipment Structural Parts in detail, providing a comprehensive understanding of their roles and significance in the market.
Photovoltaic inverters are critical components in solar power systems, converting the direct current (DC) generated by solar panels into alternating current (AC) that can be fed into the grid or used in residential and commercial applications. The structural parts used in photovoltaic inverters include enclosures, brackets, and heat dissipation systems that protect sensitive electronic components while ensuring reliable operation. These inverters need to be highly efficient and durable to withstand the harsh environmental conditions commonly encountered in solar installations, such as high temperatures, humidity, and exposure to dust or corrosive agents.
The demand for photovoltaic inverters is rapidly increasing as solar energy installations continue to grow worldwide. Structural parts for these inverters must meet rigorous standards for electrical safety, thermal management, and protection from environmental factors. As the solar industry expands and technologies improve, there is a growing need for more advanced materials and designs in photovoltaic inverters. This includes innovations aimed at enhancing energy efficiency, reducing costs, and improving the lifespan of the equipment. The structural parts market for photovoltaic inverters is expected to continue growing as more countries adopt solar power as a primary energy source and as the push toward renewable energy intensifies.
The sulfur hexafluoride airtight box is a crucial component in high-voltage equipment used for electrical insulation and arc suppression, primarily in electrical substations. These boxes house sulfur hexafluoride (SF6), a gas widely used in the power sector for its insulating properties. The airtight box protects the gas from external environmental factors and maintains the integrity of the insulating material. These boxes must be constructed with precision and care to prevent leakage and ensure that the SF6 remains contained, as it is both a powerful insulator and a potent greenhouse gas. The structural parts used in these airtight boxes are critical to ensuring safety and operational efficiency in high-voltage equipment.
The sulfur hexafluoride airtight box market is closely tied to the global push for reducing carbon emissions and transitioning to cleaner energy sources. As SF6 is a greenhouse gas with a global warming potential far higher than CO2, there is increasing scrutiny on its use, and manufacturers are exploring alternative materials and technologies. Despite this, SF6 continues to be a mainstay in high-voltage electrical equipment, and the demand for airtight boxes remains strong. The structural parts used in these boxes must meet stringent safety and regulatory standards to ensure the safe operation of the equipment. As environmental concerns rise, there is growing pressure for innovation in the design and manufacture of SF6 airtight boxes, which may drive the development of new materials and alternative solutions in the future.
Transmission and transformation switch cabinets are essential for controlling and protecting electrical circuits in power transmission and distribution systems. These cabinets house various components such as circuit breakers, switches, and fuses, which allow operators to control the flow of electricity and protect the system from faults. Structural parts for these switch cabinets include enclosures, panels, and supports that provide both mechanical protection and electrical insulation. The cabinets must be designed to handle high electrical loads and extreme environmental conditions, ensuring the safe and efficient transmission of electricity over long distances.
The demand for transmission and transformation switch cabinets is increasing as power grids expand and the need for reliable energy distribution grows. These cabinets are particularly important in the integration of renewable energy sources into the grid, as they help balance supply and demand while ensuring system stability. Structural parts for these cabinets must be robust, secure, and able to withstand extreme weather conditions, as well as the rigors of continuous electrical operation. As the energy sector increasingly focuses on modernization and smart grid technology, there is a growing need for advanced materials and designs that enhance the performance and safety of transmission and transformation switch cabinets. The market for structural parts in this segment is expected to expand as energy infrastructure continues to evolve worldwide.
In addition to photovoltaic inverters, sulfur hexafluoride airtight boxes, and transmission and transformation switch cabinets, there are other critical applications for New Energy and Power Equipment Structural Parts. These include energy storage systems, wind turbines, and charging stations for electric vehicles (EVs). Each of these applications requires specialized structural parts that ensure durability, safety, and efficiency. For example, energy storage systems, such as batteries and capacitors, rely on structural components to maintain structural integrity under various environmental conditions and electrical loads. Wind turbines require parts that can withstand the mechanical stress of rotating blades, while EV charging stations need components that can handle high-power electrical transmission safely.
The "Others" category represents a diverse range of applications that support the overall growth of the renewable energy and power equipment sectors. As technologies evolve and new energy solutions are developed, the demand for structural parts in these applications will continue to grow. This includes the expansion of offshore wind farms, the rise of hydrogen fuel cells, and the increasing adoption of electric vehicles. Structural parts for these diverse applications must be adaptable and innovative to meet the ever-changing demands of the energy sector. As new applications emerge, there will be ample opportunities for manufacturers to design and produce specialized parts that contribute to the advancement of global energy infrastructure.
The New Energy and Power Equipment Structural Parts market is experiencing several key trends and opportunities that are shaping the industry's future. One of the most prominent trends is the growing demand for renewable energy technologies, particularly solar, wind, and energy storage solutions. As countries shift away from fossil fuels and invest in cleaner energy sources, there is a corresponding increase in the need for high-quality structural parts to support these technologies. Photovoltaic inverters, sulfur hexafluoride airtight boxes, and transmission switch cabinets are all experiencing increased demand, driven by the global push toward energy transition and sustainability.
Another key trend is the push for innovation in materials and design. As the energy sector becomes more advanced, structural parts must be lighter, more durable, and more efficient to meet the evolving needs of the industry. This has created opportunities for companies to invest in research and development, with a focus on advanced materials such as composites, as well as design innovations that improve performance and reduce costs. Additionally, the integration of smart technologies and the rise of smart grids present significant opportunities for structural parts that can support the seamless integration of renewable energy sources and enhance grid stability.
1. What are New Energy and Power Equipment Structural Parts?
New Energy and Power Equipment Structural Parts are components used in the construction of equipment for renewable energy production, transmission, and storage, ensuring efficiency, safety, and durability.
2. What is the role of photovoltaic inverters in renewable energy systems?
Photovoltaic inverters convert the DC electricity produced by solar panels into AC electricity, which can then be used by homes and businesses or fed into the grid.
3. Why is sulfur hexafluoride used in high-voltage equipment?
Sulfur hexafluoride is an excellent electrical insulator and arc suppressant, making it ideal for use in high-voltage equipment such as circuit breakers and transformers.
4. How do transmission and transformation switch cabinets contribute to power grids?
Switch cabinets house essential components that control and protect electrical circuits, helping to maintain the stability and safety of power grids during operation.
5. What are the challenges in manufacturing structural parts for renewable energy equipment?
Challenges include ensuring the parts' durability, electrical safety, and ability to withstand extreme environmental conditions while maintaining cost-effectiveness.
6. How is the market for New Energy and Power Equipment Structural Parts evolving?
The market is expanding rapidly due to the global push toward renewable energy, with increased demand for efficient and durable structural parts for various applications.
7. What materials are commonly used in structural parts for energy equipment?
Common materials include metals such as steel and aluminum, composites, and specialized polymers designed to offer strength, insulation, and weather resistance.
8. What are the environmental concerns regarding sulfur hexafluoride?
SF6 is a potent greenhouse gas with a high global warming potential, leading to growing efforts to find safer alternatives or reduce its use in high-voltage equipment.
9. How does the transition to renewable energy impact the demand for structural parts?
The transition increases demand for structural parts in photovoltaic, wind, and energy storage systems, as these technologies require specialized components for effective operation.
10. What innovations are expected in the structural parts market?
Innovations include the use of advanced materials, such as lightweight composites, and new designs that improve the efficiency, safety, and performance of renewable energy equipment.
For More Iformation or Query, Visit @ New Energy and Power Equipment Structural Parts Market Size And Forecast 2025-203