Increase in Consumption of Electricity Anticipated to Drive Global Electric Power Generation, Transmission and Distribution Market: Ken Research

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The electricity generation, transmission, and distribution industry includes establishments involved in generating, transmitting, and distributing electrical power. The companies operating in the industry includes generation facilities that produce electricity, transmission systems that transfer electricity from generation facility to the distribution system, and distribution systems that transfer electrical power received from the generation facility over the transmission system then to the ultimate consumer.

These days the utility business models have been continuously evolving from the traditional electricity generation models by a new business models distributing generated power with the cut costs models, and improving the overall transmission and distribution systems. Now day’s there have been considerable increase in use of distributed generation technologies. The distribution generation refers to a localized power generation which use solar panels and other low-cost technologies producing electricity close to the consumption point. The consumers are also switching towards the cost-effective and much controlled and distributed generation networks, therefore power generation companies now focus on the renewable/solar generation distributed power generation rather than a centralized electricity generation model.

According to the study “Electric Power Generation, Transmission, And Distribution Global Market Report 2019” Some of the key manufacturers operating in the global electric power generation, transmission, and distribution market include Mitsubishi Electric, ABB Ltd., Tebian Electric Apparatus Stock Company Limited, Osram AG, Eaton, BHEL, Siemens AG, GE, Larsen & Toubro, Acme Electric Corporation, Crompton Greaves, Schneider Electric, Kirloskar Ltd. etc.

The generation, transmission, and distribution market is segmented into Power Generation and Power Transmission, Control and Distribution. The electricity Generation segment refers to generation of electricity by different sources such as hydro, fossil fuels, solar, nuclear wind and biomass. Moreover, the power generation companies are now been increasingly focusing on use of batteries for storing solar energy over the daylight hours. These energy-storage consists of a large scale lithium-ion batteries. These batteries store adequate energy for serving as a back-up in case of fuel shortages. The power generation, transmission and distribution systems are capital intensive, further requires increase in transmission and distribution efficiencies and reducing of operational costs.

Across the world, distribution network segment are ageing & inefficient, suffer from power thefts, and are becoming increasingly complex & integrating various smart technologies. The prevalence of distributed energy technology has changed the mode of interaction between the consumer and the grid. Based on market development, nation-states with established distribution networks are focused on transitioning the power systems to lessen environmental impacts or on gradual replacement of ageing assets. Developing markets are facing various challenges associated to evolving of power generation mix, lack of distribution capacity, power curtailment, power thefts, market reformation, growing urban population, and lack of technical intervention for supporting the grid transformation.

Based on geography, the Asian-Pacific region holds major share in global electric power generation, transmission, and distribution market owing to increase in consumption of electricity in both developed and developing countries in the region. Additionally, the European and North-American regions are estimated to witness higher growth rate due to growth in economy and rise in government initiatives for energy infrastructure over the forecast period. In near future, it is estimated that the market will be reached at rapid pace on account of growth in improvements in power generation technologies during the forecast period.

For More Information, Click on the Link Below:-

Global Electric Power Generation Transmission and Distribution Market

Related Report:-

Electric Power Generation, Transmission, and Distribution Global Market Forecast To 2022

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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