Global Power Generation, Transmission And Control Equipment Market Report 2022 – Market Forecast, Trends And Strategies

The global power generation, transmission and control equipment market size is expected to grow from $484.33 billion in 2021 to $538.91 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The power generation, transmission, control equipment market is expected to reach $794.67 billion in 2026 at a CAGR of 10.2%.

What is the Global Power Generation, Transmission And Control Equipment Market?

The power generation, transmission and control equipment market consists of sales of power generation, transmission and control equipment by entities (organizations, sole traders and partnerships) that produce power, distribution, and specialty transformers, electric motors, generators, and motor generator sets, switchgear and switchboard apparatus, relays, and industrial controls.

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What drives the Global Power Generation, Transmission And Control Equipment Market?

The relay and industrial control industry is increasingly adopting SCADA (Supervisory control and data acquisition) systems to enhance process efficiency and productivity. SCADA systems are used to remotely control industrial processes such as power generation, fabrication and refining through coded signals over cloud channels. The applications of these SCADA systems is expected to rise mainly due to their scalability, ease of upgrading, emergence of global smart grid projects and increased use of cloud technologies. The power generation, transmission and control equipment market is also benefitting from high demand for energy and renewable resource projects. The SCADA systems market grew at a CAGR of 7.2% in 2020.

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Global Power Generation, Transmission And Control Equipment Market Segments
The global power generation, transmission and control equipment market is segmented:
By Type: Transformer, Electric Motor and Generator, Switchgear and Switchboard Apparatus, Relay and Industrial Controls
By Application: Residential, Commercial, Automotive, Others
By End-User Sector: Private, Public
By Geography: The regions covered in the power generation, transmission and control equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Power Generation, Transmission And Control Equipment Global Market Report 2022 provides market size and growth forecasts for the global power generation, transmission and control equipment market, global power generation, transmission and control equipment market share, power generation, transmission and control equipment market segments and geographies, power generation, transmission and control equipment market competitive landscape including leading competitors’ revenues, profiles and market shares. The power generation, transmission and control equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Power Generation, Transmission And Control Equipment Industry Players include Siemens AG, Schneider Electric SE, ABB Ltd, Nidec Corp, General Electric Company, Mitsubishi Electric Corp, Amphenol Corp, Legrand S.A., Toshiba Corporation and Hanwha. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.