The Global Market for Power Transmission and Distribution Equipment is Projected to Exceed US$200 Billion by 2024
Rising Utility Investments in Power T&D Infrastructure for Transitioning to the Smart Grid Standard Drives Market Growth, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Power Transmission and Distribution Equipment market. The global market for Power Transmission and Distribution Equipment is projected to exceed US$200 billion by 2024 , driven by spiraling consumption of electricity, equally robust electric power production and distribution, and rising utility spending on upgrading transmission and distribution infrastructure to the smart grid standard. Globally, per capita consumption of energy reflects the level of economic development of a nation. All forms of economic activity, such as industry, agriculture, or services are dependent on uninterrupted power supply. Electric power transmission involves bulk transfer of hig...