The Market Reports

Synopsis
The global market for Electric Power Transmission Equipment was estimated to be worth US$ 23091 million in 2024 and is forecast to a readjusted size of US$ 29101 million by 2031 with a CAGR of 3.3% during the forecast period 2025-2031.
The Electric Power Transmission Equipment industry can be broken down into several segments, Transformers, Switchgear, etc. Transmission of electric power is transfer of bulk electrical energy to substations from power generating plants. Electrical transmission is distinct from electrical distribution, in terms of carrying large quantities of high voltage power over large distances; thus there are differences in the equipment used for each. In this report, products demanded are transformers and switchgear and many other products. Unlike electrical distribution equipment, which operates at lower voltages and closer to end-users, Electric Power Transmission Equipment is built to ensure the stability, safety, and continuity of power transmission within the grid infrastructure.
The leading players of Electric Power Transmission Equipment including Hitachi (ABB), Siemens, GE, Schneider Electric and Eaton, etc. The top 5 players accounts for about 55% of global market value.
The global market for Electric Power Transmission Equipment is witnessing steady growth, driven by the rising demand for reliable electricity distribution across residential, industrial, and utility sectors. Among the product segments, switchgears stand out as the dominant category, accounting for approximately 40% of the global market share in 2024. Switchgears play a crucial role in ensuring operational safety, system control, and uninterrupted power flow, making them a critical component in modern transmission and distribution infrastructure. Transformers and other associated devices continue to complement this ecosystem, providing voltage regulation and support for stable energy delivery.
In terms of application, residential use leads the global market with a significant share of around 65% in 2024. This dominance is largely fueled by urbanization, infrastructure development, and the continuous need for dependable electricity in homes, apartments, and residential complexes. Applications in fossil fuel-fired power generation and renewable energy are also contributing to market expansion, supported by global efforts toward energy transition and grid modernization.
The Asia-Pacific region emerges as the largest consumer market, commanding about 43% of the global consumption. This leadership is propelled by rapid industrialization, population growth, and large-scale investments in power infrastructure in countries such as China, India, and Southeast Asian nations.
The market is being driven by several key factors. Increasing global electricity demand, coupled with rising investment in grid infrastructure modernization, is fostering the growth of Electric Power Transmission Equipment. The shift toward renewable energy sources requires new transmission solutions, further boosting product demand. Urban development and electrification in emerging economies continue to create favorable conditions for market expansion. Additionally, technological advancements in switchgear and transformer designs are making systems more efficient, safer, and compact, which aligns well with modern grid requirements.
However, the market faces notable restraints. High initial investment costs for transmission equipment installation and grid upgrades can be a barrier, particularly in developing regions with limited budgets. Complex regulatory frameworks and approval processes for energy projects may delay infrastructure deployment. Additionally, fluctuations in raw material prices and supply chain uncertainties, especially for specialized electrical components, can affect production and delivery timelines. These factors pose challenges to consistent growth and may require strategic planning and investment balancing by stakeholders.
This report aims to provide a comprehensive presentation of the global market for Electric Power Transmission Equipment, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Electric Power Transmission Equipment by region & country, by Type, and by Application.
The Electric Power Transmission Equipment market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Power Transmission Equipment.
Market Segmentation
By Company
Hitachi (ABB)
Siemens
GE
Schneider Electric
Eaton
BHEL
TBEA
HYOSUNG
China XD Group
Mitsubishi Electric
Toshiba
Crompton Greaves
Prolec GE (SPX Transformer Solutions)
Fuji Electric
Shanghai Electric
Baoding Tianwei
Segment by Type
Transformers
Switchgear
Others
Segment by Application
Fossil Fuel Fired Power
Renewable Energy
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Electric Power Transmission Equipment company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Electric Power Transmission Equipment in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Electric Power Transmission Equipment in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index