Transmission and distribution market to exceed $300 B by 2031
Investments in power T&D systems have prospered on the back of ever-growing need for increasing the performance and stability of grids.
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Investments in power transmission and distribution (T&D) systems have prospered on the back of ever-growing need for increasing the performance and stability of grids.
Grid operators in the transmission and distribution market are increasingly growing their stakes in modern grid technologies notably smart grids. The authors of a study on the transmission and distribution market witness vast revenue possibilities in the next few years, and projected the valuation to surpass $300 B by the end of 2031.
Increased governments’ focus on replacing an aging power infrastructure are enriching the outlook of the transmission and distribution market. Growing spending on new technologies in electric power transmission is attracting lodes of opportunities, found the analysts in the global transmission and distribution market.
Incessant efforts to connect regions across developing and emerging economies through electrical grids have catalysed lucrative prospects in the transmission and distribution market. Extensive efforts by the governments in developed nations on making power grids more resilient have expanded the market size. Growing investments in high-voltage transmission facilities is fuelling profitable avenues in the transmission & distribution market.
Increased focus of various economies on attaining energy security is a key driver for public and private investments in the transmission and distribution market. The growing investments in renewable power generation is a key step toward thus direction and demand for T&D equipment for solar and wind power enriching the market prospects.
Smart grid frameworks are attracting widespread popularity for smart cities and smart communities. Smart grid pilot projects have attracted interest of policymakers in developing regions, such as in India.
Source: PR Newswire
#grid operators#new technologies#renewable energy#smart grid#transmission and distribution market