Power Transmission Market: By Component, By Current Levels, By Voltage, By End Users, and Region Forecast 2020-2031
Power Transmission Market: By Component, By Current Levels, By Voltage, By End Users, and Region Forecast 2020-2031
Power Transmission Market size was valued at US$ 263.79 million in 2024 and is expected to reach US$ 407.23 million by 2031, growing at a significant CAGR of 6.4% from 2025-2031. The flow of electrical energy along the interconnected lines is known as electrical transmission networks. Electric transmission and distribution are some of the most important parts of power generation, transmission, and distribution systems. The constant development of transmission and distribution equipment to fulfill the future requirements of the power grid propels market growth. Nowadays, the energy industry is focusing on renewable sources to meet the power demand.
The transmission networks permit the flow of electrical energy. which includes switches, transmitters, insulators, capacitors, etc. The rising infrastructure development in residential and commercial sectors will result in a higher demand for electric power transmission and distribution equipment. Increasing technological adoption across the world is anticipated to enhance the market demand for the electric market.
Renewable energy is the greatest alternative to fossil fuel energy most organizations are looking for investment in emission-free energy. The rising awareness of global warming and shifting mindset to renewable sources of energy will drive the market to renewable energy. some sources of renewable energy are wind, solar, geothermal energy, biomass, etc. In recent years, many countries have implemented renewable energy as their primary source of energy and this will positively impact the growth of electric power transmission due to the reduced cost of electricity, due to which renewable energy source becomes the future opportunity for electric market growth. However, the primary cost of material and installation of the power grid is expensive, at the time of installation amount of protective devices are used such as transformers, overhead components, switchgear, etc.
Study Period
2025-2031Base Year
2024CAGR
6.4%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
Rising urbanization and demand for smart appliances across the globe are expected to drive the growth of the market. The increasing need for electric appliances in the population for an improved lifestyle and convenience drives the growth of the market. In urbanization, the increasing industrialization infrastructure, and commercial area tends to the growing demand for the electric transmission market. The increasing necessity for technologically advanced electrical equipment for smart houses, offices, etc., and the changing lifestyle habits of people around the world are anticipated to increase the demand growth of the electric transmission market. In addition, the increase in disposable income and adaptation of digitization positively impacts the growth of the market.
Based on regions, the market share is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA. Asia Pacific region is dominating the market and accounted for the highest global revenue share over the few years, which can be accredited to increasing construction activities, urbanization, electricity demand, and industrialization in the region. The growth of the market is likely to be propelled by investments from countries such as India, China, Vietnam, and the Philippines in grid expansion projects. Moreover, the expansion of renewable energy projects, coupled with government initiatives for rural electrification and grid modernization, further propels the market growth in this region.
Furthermore, the Asia Pacific market is also characterized by the presence of several key market players, making it a hub for innovation and development in the power transmission and distribution sector. In addition, the European region emerged as the second-largest regional market and is likely to expand further during the forecast period. The market in this region is driven by rising electricity consumption and increasing demand for advanced power transmission and distribution equipment in automotive and electronics which helps in market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2024 |
US$ 263.79 million |
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Market Size in 2031 |
US$ 407.23 million |
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Market CAGR |
6.4% |
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By Component |
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By Current Levels |
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By End-User |
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By Region |
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The power transmission market size was valued at US$ 263.79 million in 2024 and is poised to grow at a CAGR of 6.4% from 2025 to 2031.
The leading players in the market are ABB, Siemens, GE, Schneider Electric, and Eaton.
Asia-Pacific is the fastest-growing region for market.
| 1. Executive Summary |
| 2. Global Power Transmission Market Introduction |
| 2.1. Global Power Transmission Market Taxonomy |
| 2.2. Global Power Transmission Market Definitions |
| 2.2.1. Component |
| 2.2.2. Current Levels |
| 2.2.3. Voltage |
| 2.2.4. End Users |
| 2.2.5. Region |
| 3. Global Power Transmission Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Power Transmission Market Dynamic Factors - Impact Analysis |
| 3.6. Impact of COVID 19 on The Market |
| 3.7. Three Forecast Scenarios - Pessimistic, Conservative and Opportunistic |
| 3.8. Mapping Market Players Activities |
| 3.9. Recent Key Developments |
| 3.10. Financial Status of the Market Players |
| 3.11. Recent Acquisitions, Collaborations and Mergers |
| 4. Global Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 |
| 4.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Power Transmission Market Forecast, By Component, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.1. Transformer |
| 5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Insulator |
| 5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Transmission Lines |
| 5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Transmission Towers |
| 5.4.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6. Global Power Transmission Market Forecast, By Current Levels, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 6.1. HVAC |
| 6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. HVDC |
| 6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Power Transmission Market Forecast, By Voltage, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.1. 132 kV |
| 7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. 220 kV |
| 7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. 440 kV |
| 7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. 660 kV |
| 7.4.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. 765 kV & Above |
| 7.5.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. Global Power Transmission Market Forecast, By End Users, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 8.1. Industrial |
| 8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Commercial |
| 8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 9. Global Power Transmission Market Forecast, By Region, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia-Pacific |
| 9.3.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Power Transmission Market - Opportunity Analysis Index, By Component, Current Levels, Voltage, End Users, and Region, 2023 - 2030 |
| 10. North America Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 10.1. Component Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Transformer |
| 10.1.2. Insulator |
| 10.1.3. Transmission Lines |
| 10.1.4. Transmission Towers |
| 10.1.5. Others |
| 10.2. Current Levels Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. HVAC |
| 10.2.2. HVDC |
| 10.3. Voltage Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. 132 kV |
| 10.3.2. 220 kV |
| 10.3.3. 440 kV |
| 10.3.4. 660 kV |
| 10.3.5. 765 kV & Above |
| 10.4. End Users Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1. Industrial |
| 10.4.2. Commercial |
| 10.5. Country Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 10.5.1. U.S. |
| 10.5.2. Canada |
| 10.6. North America Power Transmission Market - Opportunity Analysis Index, By Component, Current Level, Voltage, End Users and Country, 2023 - 2030 |
| 10.7. North America Power Transmission Market Dynamics Trends |
| 11. Europe Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 11.1. Component Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Transformer |
| 11.1.2. Insulator |
| 11.1.3. Transmission Lines |
| 11.1.4. Transmission Towers |
| 11.1.5. Others |
| 11.2. Current Levels Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. HVAC |
| 11.2.2. HVDC |
| 11.3. Voltage Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. 132 kV |
| 11.3.2. 220 kV |
| 11.3.3. 440 kV |
| 11.3.4. 660 kV |
| 11.3.5. 765 kV & Above |
| 11.4. End Users Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1. Industrial |
| 11.4.2. Commercial |
| 11.5. Country Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 11.5.1. Germany |
| 11.5.2. UK |
| 11.5.3. France |
| 11.5.4. Italy |
| 11.5.5. Spain |
| 11.5.6. Rest of Europe |
| 11.6. Europe Power Transmission Market - Opportunity Analysis Index, By Component, Current Level, Voltage, End Users and Country, 2023 - 2030 |
| 11.7. Europe Power Transmission Market Dynamics Trends |
| 12. Asia-Pacific Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 12.1. Component Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Transformer |
| 12.1.2. Insulator |
| 12.1.3. Transmission Lines |
| 12.1.4. Transmission Towers |
| 12.1.5. Others |
| 12.2. Current Levels Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. HVAC |
| 12.2.2. HVDC |
| 12.3. Voltage Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. 132 kV |
| 12.3.2. 220 kV |
| 12.3.3. 440 kV |
| 12.3.4. 660 kV |
| 12.3.5. 765 kV & Above |
| 12.4. End Users Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1. Industrial |
| 12.4.2. Commercial |
| 12.5. Country Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 12.5.1. Japan |
| 12.5.2. China |
| 12.5.3. India |
| 12.5.4. ASEAN |
| 12.5.5. Rest of Asia-Pacific |
| 12.6. Asia-Pacific Power Transmission Market - Opportunity Analysis Index, By Component, Current Level, Voltage, End Users and Country, 2023 - 2030 |
| 12.7. Asia-Pacific Power Transmission Market Dynamics Trends |
| 13. Latin America Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 13.1. Component Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Transformer |
| 13.1.2. Insulator |
| 13.1.3. Transmission Lines |
| 13.1.4. Transmission Towers |
| 13.1.5. Others |
| 13.2. Current Levels Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. HVAC |
| 13.2.2. HVDC |
| 13.3. Voltage Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. 132 kV |
| 13.3.2. 220 kV |
| 13.3.3. 440 kV |
| 13.3.4. 660 kV |
| 13.3.5. 765 kV & Above |
| 13.4. End Users Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1. Industrial |
| 13.4.2. Commercial |
| 13.5. Country Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Argentina |
| 13.5.3. Rest of Latin America |
| 13.6. Latin America Power Transmission Market - Opportunity Analysis Index, By Component, Current Level, Voltage, End Users and Country, 2023 - 2030 |
| 13.7. Latin America Power Transmission Market Dynamics Trends |
| 14. Middle East and Africa Power Transmission Market Analysis, 2020 - 2024 and Forecast, 2024 - 2031 (Revenue, USD Million) |
| 14.1. Component Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Transformer |
| 14.1.2. Insulator |
| 14.1.3. Transmission Lines |
| 14.1.4. Transmission Towers |
| 14.1.5. Others |
| 14.2. Current Levels Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 14.2.1. HVAC |
| 14.2.2. HVDC |
| 14.3. Voltage Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 14.3.1. 132 kV |
| 14.3.2. 220 kV |
| 14.3.3. 440 kV |
| 14.3.4. 660 kV |
| 14.3.5. 765 kV & Above |
| 14.4. End Users Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million), Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1. Industrial |
| 14.4.2. Commercial |
| 14.5. Country Analysis 2020 - 2024 and Forecast, 2025 - 2031 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 14.5.1. Saudi Arabia |
| 14.5.2. GCC Countries |
| 14.5.3. South Africa |
| 14.5.4. Rest of MEA |
| 14.6. MEA Power Transmission Market - Opportunity Analysis Index, By Component, Current Level, Voltage, End Users and Country, 2023 - 2030 |
| 14.7. MEA Power Transmission Market Dynamics Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Component Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. ABB Ltd. |
| 15.2.2. Siemens AG |
| 15.2.3. Hitachi Ltd. |
| 15.2.4. Schneider Electric SE |
| 15.2.5. Bharat Heavy Electricals Ltd. (BHEL) |
| 15.2.6. General Electric Co. |
| 15.2.7. Fuji Electric Co. Ltd. |
| 15.2.8. Mitsubishi Electric Corp. |
| 15.2.9. Eaton Corp. plc |
| 15.2.10. Gates Industrial Corp. plc |
| 15.2.11. Tetra Tech, Inc. |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
Key Market Players
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