This report provides exclusive insights into the COVID-19 impact on the Power Transmission Components Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Power Transmission Components Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Power Transmission Components Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on power transmission components market provides an in-depth analysis of segments and sub-segments in global as well as regional power transmission components market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional power transmission components market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global power transmission components market. According to the report the global power transmission components market is projected to grow at a CAGR of 5.3% over the forecast period of 2018-2024.
Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical sub-station. The interconnected lines that facilitate this movement are known as a transmission network. Power transmission devices are very commonly used to transmit power from one shaft to another. The power is transmitted from one shaft to the other by means of belts, chains, and gears. The belts and ropes are flexible members that are used where the distance between the two shafts is large.
Increasing demand for safe and reliable power along with rising urban population are the factors driving the growth of the power transmission components market. In addition, rising inclination towards the enhancement of bulk transmission capability of grid infrastructure and ongoing electrification in the untapped region particularly in underdeveloped and developed regions is further anticipated to boost the power transmission components market. On the other hand, up gradation of aging networks is anticipated to drive the transformers industries along with growing concern about the safety will boost the demand for circuit breakers and isolators Limited budget allocation of developing and underdeveloped nations restricts the widely adopted of power transmission infrastructure. This, in turn, is likely to restrain the growth of the power transmission components market during the forecast period. Furthermore, government across the globe are providing incentives for installations of new age power transmission components to achieve significant energy savings this is providing several growth opportunities for the key players in the power transmission components market over the upcoming years. Among the geographies, North America held the leading share in the power transmission components market. The initiatives by the government to control the carbon emission and Presence of components manufacturing companies in this region are anticipated to boost the power transmission components in the North American region. Moreover, growing energy demand across emerging electricity markets including India along with rising investments to integrate a sustainable grid infrastructure will drive the industry growth in the Asia-Pacific regions.
The report on global power transmission components market covers segments such as component, voltage level, and current. On the basis of component the global power transmission components market is categorized into transformer, switchgear & circuit breakers, insulators and capacitors and others (power converters and relays). On the basis of voltage level the global power transmission components market is categorized into 132 kV, 220 kV, 440 kV, and 660 kV, 765 kV. On the basis of current the global power transmission components market is categorized into HVDC and HVAC.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global power transmission components market such as Sterlite, L&T, Emerson, Mitsubishi, BHEL, KEC International, Hitachi, Tebian Electric Apparatus Stock, and Hyundai.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global power transmission components market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of power transmission components market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the power transmission components market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the power transmission components market to understand the present and future trends in this market and formulate their strategies accordingly.