Grid Equipment Growth Opportunities

Electrification and Decarbonization Trends Drive Future Grid Investments

Rising electricity demand complemented by sustained scaling up of renewable energy worldwide will boost investments in power transmission and distribution (T&D) infrastructure and grid assets, including transformers, switchgear, and cables. The publisher expects the global grid equipment market revenue to reach $232.74 billion in 2030, with cables being the largest segment, followed by transformers and switchgear.

The market faces multiple challenges after the COVID-19 pandemic, such as raw material price volatility, supply chain disruption, inflation, and high demand and supply gap. Despite the maturity of the grid equipment market, strong electricity demand, rising electrification rates, economic development, and increasing population in China, India, Asia, the Middle East, and Africa will boost the market. In addition, the aging power grid leads to a broader market adoption of electrification, and the transition from fossil fuel to clean energy will boost the demand for T&D equipment.

Grid hardening and modernization, urgent network upgrades, and improved system resilience will positively affect market demand. Industry development will be directed toward higher adoption of digitalization and sustainable solutions. Raw material reuse and sustainability will become an increasingly important part of any value proposition.

With 2023 as the base year, the study period is 2022-2030, and the forecast period is 2024-2030.

This research service analyzes the most recent trends in the following regions:

• North America
• Europe
• Russia and the Commonwealth of Independent States
• China
• East Asia
• Australia, New Zealand, and the Pacific
• Association of Southeast Asian Nations
• India and the Rest of South Asia
• The Middle East
• Africa
• Latin America

The study also offers an overview of the overall transformers, switchgear, and cables market. The publisher has analyzed key country markets and regions as well as growth drivers and restraints likely to impact growth and determine the market potential of grid equipment over the next decade.