Surging Energy Consumption and the Resulting Rise in Power Production, Transmission and Distribution
DUBLIN, Sept. 14, 2020 /PRNewswire/ -- The "Power Transmission and Distribution Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
- DUBLIN, Sept. 14, 2020 /PRNewswire/ -- The "Power Transmission and Distribution Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
- The global market for Power Transmission and Distribution Equipment is projected to exceed US$200 billion by 2024, driven by the ever-present demand for energy; growing trend towards distributed energy generation; and rising investments in smart grids.
- Rising demand for long-distance energy transmission is forecast to fuel demand for high-voltage direct current (HVDC) technology, given its ability to connect power grids from remote places and allow delivery of power without energy losses or outages.
- With the cost of energy as high as 7.5% of GDP, there is considerable focus shed on energy-efficient production, transmission and distribution of power in order to minimize energy losses and lower the lifecycle costs of power generation equipment.