Asia-Pacific driving transmission and distribution investment
The demand for energy-efficient transformers is expected to increase as aging transmission and distribution equipment provides opportunities for the replacement market, with infrastructural upgrades necessary to cope with increased electricity generation and consumption, according to GBI Research.
The growth will come from the emerging Asia-Pacific region, and the maintenance and upgrade of existing infrastructure in the developed world.
Although the market for transmission and distribution equipment has matured, renewed demand from emerging economies push the market to achieve substantial revenue growth.
The Asia-Pacific region is expected to invest in transmission and distribution technology to connect more of the population to reliable power, as industrial, economic and population growth demand more energy.
Some developing nations have mandates that are predicted to drive transmission and distribution investments across India, China and the Philippines, while developed nations, such as the U.S. and Germany, have introduced legislation to support continuous investment in power infrastructure and technologies that will upgrade their existing power infrastructure and improve power distribution services for consumers.