Greentech Lead U.S: As the global market for electric
power transmission and distribution equipment expands to meet the demands of
fuelling broader economic development, flexible AC transmission equipment and
residential generators will show increases as well, according to Global
Information Inc (GII).
GII said the global market for electric power
transmission and distribution (T&D) equipment is projected to reach US$161
billion by 2018, driven by spiraling increase in energy consumption across the
world and growing focus on development of environment-friendly renewable
sources of energy.
Opportunities in the market will also be largely
influenced by the role played by Governments in developing the highly
capital-intensive Electric Power industry.
Asia-Pacific represents the largest and the fastest
growing regional market for electric power transmission and distribution
equipment. The region is expected to grow at a CAGR of 18 percent over the
analysis period.
Among the product markets, Switchgears represents the
largest as well the fastest growing product segment with revenues from the
segment forecast to wax at a CAGR of 17.8 percent over the analysis period.
Growth in this market will also be triggered by the
growing focus on renewable sources of energy. Rising environmental concerns
associated with conventional electricity generation sources coupled with the
increasing need to meet the electricity demand is fostering the need for
generating environment friendly electricity.
The global market for residential generators is projected
to reach US$11.3 billion by the year 2018, driven primarily by changing
lifestyles in both developing and developed nations. Increasing dependence on
electronic devices and growing prominence of outdoor activities propel demand
in the developed markets.
On the other hand, growing urbanization,
industrialization and electrification and rising disposable incomes increase
penetration of generators in the developing markets.
Major players profiled in the report include Baldor
Electric Company, Briggs & Stratton Power Products Group, Cummins, Eaton
Corporation, Generac Power Systems, General Electric Company, Generators, Honda
Power Equipment, and Kohler Power System, among others.
The global market for flexible AC transmission
equipment is projected to reach US$2.4 billion by the year 2018, driven largely
by the cautious resurgence in infrastructure and construction projects in
developed countries and by the rising energy demand in developing countries and
the ensuing investments in energy infrastructure to overcome capacity
shortages.
A noteworthy trend in the market is the shift towards
variable shunt compensation equipment. Owing to their superior technical
benefits compared to other compensation equipment, Variable shunt compensation is
considerably increasing its market share in the total Flexible AC Transmission
Equipment market.