Power Transmission Components Market
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Transparency <strong>Market</strong><br />
Research<br />
<strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share,<br />
Growth Trends, and Forecast 2015 - 2023<br />
Published Date<br />
10-Dec-2015<br />
99 Page Report<br />
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Press Release<br />
Deepening Energy Crisis to Accelerate Demand for and Installation of <strong>Power</strong><br />
<strong>Transmission</strong> <strong>Components</strong>, says TMR<br />
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State Tower,<br />
90, State Street, Suite 700.<br />
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www.transparencymarketresearch.com<br />
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<strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong><br />
REPORT DESCRIPTION<br />
<strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 -<br />
2023<br />
Consistently Increasing Energy Demand Encourages Adoption of <strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong><br />
The relentlessly increasing demand for energy has been the primary growth driver for the global power transmission<br />
components market, observes Transparency <strong>Market</strong> Research. The hurdles faced by service providers in power<br />
transmission over long distances is yet another factor propelling the adoption of these components in the recent past.<br />
Thus, in an effort to cut down the energy losses through effective transmission of energy and reducing the carbon<br />
footprint is anticipated to increase the deployment of sophisticated transmission components in the coming years. With<br />
these unwavering market drivers, the global power transmission components market is expected to be worth<br />
US$102,574.8 mn by 2023 as compared to US$64,155.6 mn in 2015, expanding at CAGR of 6.0% between 2014 and<br />
2023.<br />
This 99 page report gives readers a comprehensive overview of the <strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong>. Browse<br />
through 19 data tables and 49 figures to unlock the hidden opportunities in this market @<br />
http://www.transparencymarketresearch.com/power-transmission-components-market.html<br />
It is a well-known fact that modern power transmission components are designed to render long-term savings by<br />
providing uninterrupted power supply. With this backing, governments across the globe are incentivizing installations of<br />
new-age power transmission components to achieve significant energy savings. This move comes as world leaders are<br />
devising ways to achieve economic growth through sustainable means. Furthermore, the need to upgrade the old power<br />
plant infrastructure also has a positive impact on the market. However, the high cost of initial investment is discouraging<br />
power plants from investing in these components.<br />
Government Initiatives to Reduce Carbon Footprint in North America Prove Favorable for Demand<br />
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<strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong><br />
Geographically, the power transmission components market has a presence across regions of Asia Pacific, Europe, North<br />
America, the Middle East and Africa, and South and Central America. As of 2014, North America held a leading share of<br />
26.50% and is expected to equate to 25.57% by 2023. Despite the minor drop in percentage, this regional market will<br />
excel due to increasing investments in upgrading existing power transmission components. The initiatives by<br />
governments to curb the carbon emission and negate the carbon footprint is also expected to boost the power<br />
transmission components market in North America. Efforts in regions such as Asia Pacific to upgrade their facilities to<br />
smart grid infrastructure will also propel the adoption of new transmission components in the region.<br />
Switchgears and Circuit Breakers Segment Expected to Exhibit Strong Growth<br />
Switchgears and circuit breakers are critical components of power transmission as they are installed to minimize the loss<br />
of electricity during transmission. They are important in limiting electric failures and ensuring seamless current flow<br />
through the circuit. Owing to these reasons the advanced switchgears and circuit breakers that deliver high voltage will<br />
be used extensively in power grids in the near future. During the forecast period of 2014 and 2023, the switchgears and<br />
circuit breakers segment will continue to surge at a CAGR of 5.6%.<br />
Get accurate market forecast and analysis on the <strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong>. Request a sample to stay<br />
abreast on the key trends impacting this market @<br />
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7132<br />
Transformers also hold a promise of a steady growth rate due to an exponentially increasing demand for energy due to<br />
industrialization. The rapidly growing population will also make a significant contribution to energy demand, thereby<br />
driving the transformers segment at a 5.5% CAGR between 2014 and 2023.<br />
Some of the key companies operating in the global power transmission components market are Emerson Electric<br />
Company, ABB Group, Eaton Corporation Plc, Hitachi, Ltd., General Electric Company, Mitsubishi Electric Corporation,<br />
Siemens AG, and Schneider Electric SE. The market is witnessing a high degree of competition due to the presence of a<br />
large number of players. To keep the edge over others, players are striving for rigorous forward integration and product<br />
innovation that will ensure additional energy savings in the near future.<br />
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<strong>Power</strong> <strong>Transmission</strong> <strong>Components</strong> <strong>Market</strong><br />
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