Product Code: 30007
The Global Power Transmission Equipment Market was valued at USD 100.31 billion in 2024 and is projected to reach USD 138.06 billion by 2030, growing at a CAGR of 5.31% during the forecast period. This market encompasses a broad array of products such as transformers, switchgear, circuit breakers, insulators, transmission lines, capacitors, and protective devices, which are essential for transmitting electricity from generation facilities to end users. Power transmission equipment forms the backbone of global electrical infrastructure, ensuring safe, efficient, and reliable electricity flow across residential, commercial, industrial, and utility sectors. The market's growth is being driven by rising electricity consumption, infrastructure expansion, and the transition to smart grid systems that require more advanced and responsive components to manage modern energy needs.
Market Overview |
Forecast Period | 2026-2030 |
Market Size 2024 | USD 100.31 Billion |
Market Size 2030 | USD 138.06 Billion |
CAGR 2025-2030 | 5.31% |
Fastest Growing Segment | Switchgear & Circuit Breakers |
Largest Market | North America |
Key Market Drivers
Growing Investment in Grid Modernization and Expansion Projects
The rising demand for uninterrupted and secure electricity supply is propelling investments in grid modernization and expansion, significantly driving the power transmission equipment market. Many developed countries are upgrading outdated transmission systems, while emerging economies are expanding networks to support industrialization and rural electrification. These efforts are crucial to accommodate growing power demand from urbanization, electric vehicle adoption, and data center operations. Transmission infrastructure must also adapt to integrate distributed and intermittent renewable energy sources, requiring advanced equipment capable of supporting grid reliability and flexibility. As a result, governments and utilities worldwide are committing substantial funding to improve power transmission networks and deploy next-generation systems.
Key Market Challenges
Aging Infrastructure and Modernization Complexity
A major hurdle for the power transmission equipment market is the challenge of replacing or upgrading aging infrastructure, which remains prevalent in many parts of the world. These legacy systems often lack the efficiency, capacity, and digital integration required to support current electricity demands. Modernizing these systems is a complex and capital-intensive task involving technical, logistical, and regulatory hurdles. Coordination between multiple stakeholders-such as utilities, regulatory bodies, and private contractors-is often required, which can delay implementation. Additionally, ensuring that new systems are compatible with existing infrastructure while meeting current safety and performance standards adds further complexity to grid modernization efforts.
Key Market Trends
Integration of Smart Grid Technologies Driving Equipment Upgrades
The widespread adoption of smart grid technologies is reshaping the power transmission landscape by necessitating the upgrade of legacy infrastructure with intelligent, connected components. As grid operators strive to integrate renewable energy sources and enhance operational efficiency, they are increasingly deploying digital transmission equipment. Components such as smart transformers, remote-controlled switchgear, and advanced sensors are becoming essential to monitor, analyze, and optimize power flow in real time. These technologies support predictive maintenance, load balancing, and fault detection, which improve reliability and reduce operational costs. The trend aligns with broader energy transition goals, including decarbonization, decentralization, and digitalization.
Key Market Players
- Siemens AG
- ABB Ltd.
- General Electric Company (GE)
- Schneider Electric SE
- Eaton Corporation plc
- Mitsubishi Electric Corporation
- Hitachi Energy Ltd.
- Toshiba Energy Systems & Solutions Corporation
- Hyosung Heavy Industries Corporation
- CG Power and Industrial Solutions Limited
Report Scope:
In this report, the Global Power Transmission Equipment Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Power Transmission Equipment Market, By Product Type:
- Transformers
- Switchgear & Circuit Breakers
- Cables & Lines
- Insulators
- Capacitors & Reactors
- Others
Power Transmission Equipment Market, By Application:
- Utilities
- Industrial
- Commercial & Residential
- Renewable Energy
- Transportation & Infrastructure
Power Transmission Equipment Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Power Transmission Equipment Market.
Available Customizations:
Global Power Transmission Equipment Market report with the given Market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional Market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Formulation of the Scope
- 2.4. Assumptions and Limitations
- 2.5. Sources of Research
- 2.5.1. Secondary Research
- 2.5.2. Primary Research
- 2.6. Approach for the Market Study
- 2.6.1. The Bottom-Up Approach
- 2.6.2. The Top-Down Approach
- 2.7. Methodology Followed for Calculation of Market Size & Market Shares
- 2.8. Forecasting Methodology
- 2.8.1. Data Triangulation & Validation
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Power Transmission Equipment Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type (Transformers, Switchgear & Circuit Breakers, Cables & Lines, Insulators, Capacitors & Reactors, and Others)
- 5.2.2. By Application (Utilities, Industrial, Commercial & Residential, Renewable Energy, Transportation & Infrastructure)
- 5.2.3. By Region
- 5.3. By Company (2024)
- 5.4. Market Map
6. North America Power Transmission Equipment Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Application
- 6.2.3. By Country
- 6.3. North America: Country Analysis
- 6.3.1. United States Power Transmission Equipment Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Product Type
- 6.3.1.2.2. By Application
- 6.3.2. Canada Power Transmission Equipment Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Product Type
- 6.3.2.2.2. By Application
- 6.3.3. Mexico Power Transmission Equipment Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Product Type
- 6.3.3.2.2. By Application
7. Europe Power Transmission Equipment Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Application
- 7.2.3. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. Germany Power Transmission Equipment Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Product Type
- 7.3.1.2.2. By Application
- 7.3.2. United Kingdom Power Transmission Equipment Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Product Type
- 7.3.2.2.2. By Application
- 7.3.3. Italy Power Transmission Equipment Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Product Type
- 7.3.3.2.2. By Application
- 7.3.4. France Power Transmission Equipment Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Product Type
- 7.3.4.2.2. By Application
- 7.3.5. Spain Power Transmission Equipment Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Product Type
- 7.3.5.2.2. By Application
8. Asia-Pacific Power Transmission Equipment Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Application
- 8.2.3. By Country
- 8.3. Asia-Pacific: Country Analysis
- 8.3.1. China Power Transmission Equipment Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Product Type
- 8.3.1.2.2. By Application
- 8.3.2. India Power Transmission Equipment Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Product Type
- 8.3.2.2.2. By Application
- 8.3.3. Japan Power Transmission Equipment Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Product Type
- 8.3.3.2.2. By Application
- 8.3.4. South Korea Power Transmission Equipment Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Product Type
- 8.3.4.2.2. By Application
- 8.3.5. Australia Power Transmission Equipment Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Product Type
- 8.3.5.2.2. By Application
9. South America Power Transmission Equipment Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Application
- 9.2.3. By Country
- 9.3. South America: Country Analysis
- 9.3.1. Brazil Power Transmission Equipment Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Product Type
- 9.3.1.2.2. By Application
- 9.3.2. Argentina Power Transmission Equipment Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Product Type
- 9.3.2.2.2. By Application
- 9.3.3. Colombia Power Transmission Equipment Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Product Type
- 9.3.3.2.2. By Application
10. Middle East and Africa Power Transmission Equipment Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1.By Product Type
- 10.2.2.By Application
- 10.2.3.By Country
- 10.3. Middle East and Africa: Country Analysis
- 10.3.1.South Africa Power Transmission Equipment Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Product Type
- 10.3.1.2.2. By Application
- 10.3.2.Saudi Arabia Power Transmission Equipment Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Product Type
- 10.3.2.2.2. By Application
- 10.3.3.UAE Power Transmission Equipment Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Product Type
- 10.3.3.2.2. By Application
- 10.3.4.Kuwait Power Transmission Equipment Market Outlook
- 10.3.4.1. Market Size & Forecast
- 10.3.4.2. Market Share & Forecast
- 10.3.4.2.1. By Product Type
- 10.3.4.2.2. By Application
- 10.3.5.Turkey Power Transmission Equipment Market Outlook
- 10.3.5.1. Market Size & Forecast
- 10.3.5.2. Market Share & Forecast
- 10.3.5.2.1. By Product Type
- 10.3.5.2.2. By Application
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
- 12.1. Merger & Acquisition (If Any)
- 12.2. Product Launches (If Any)
- 12.3. Recent Developments
13. Company Profiles
- 13.1. Siemens AG
- 13.1.1.Business Overview
- 13.1.2.Key Revenue and Financials
- 13.1.3.Recent Developments
- 13.1.4.Key Personnel/Key Contact Person
- 13.1.5.Key Product/Services Offered
- 13.2. ABB Ltd.
- 13.3. General Electric Company (GE)
- 13.4. Schneider Electric SE
- 13.5. Eaton Corporation plc
- 13.6. Mitsubishi Electric Corporation
- 13.7. Hitachi Energy Ltd.
- 13.8. Toshiba Energy Systems & Solutions Corporation
- 13.9. Hyosung Heavy Industries Corporation
- 13.10. CG Power and Industrial Solutions Limited
14. Strategic Recommendations
15. About Us & Disclaimer