Power Transmission Components Market Revenue Anticipated to Reach US$102.6 Billion by 2023: Transparency Market Research

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Dec 15, 2015, 07:30 ET

ALBANY, New York, December 15, 2015 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Power Transmission Components Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023." According to this report, the global power transmission components market was valued at US$ 60.5 billion in 2014 and is projected to reach US$102.6 billion by 2023, at a CAGR of 6% from 2015 to 2023.

Browse Research Report with Market Analysis: http://www.transparencymarketresearch.com/power-transmission-components-market.html

Power transmission components primarily consist of switchgears, circuit breakers, transformers, capacitors, insulators, power convertors, and relays which are used to transmit power to users. Growth in the global power transmission components market is attributed to increase in energy efficiency by 5%−10% and reduction of carbon footprint. Demand for energy would increase in the near future due to higher emphasis on achieving sustainable economic growth. The added advantage is that modern power transmission components would enable distribution companies to attain long-term savings along with offering reliable electric supply.

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The power transmission components market has been segmented on the basis of components and current systems. The switchgears and circuit breakers segment held 44% share of the power transmission components market in 2014. Global estimates for 2014 show that HVAC current systems accounted for nearly 92% and HVDC current systems for 8% share of the power transmission components market. This difference is due to the fact that the electricity produced by HVAC systems is in the form of alternating current and electricity has to be delivered majorly in the alternating current form.

Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/power-transmission-components-market.htm

Demand for power transmission components is expected to increase gradually in the future as these components offer energy savings which contribute to the overall revenue growth. The power transmission components market has been segmented as follows:

Power Transmission Components Market: By Component Type

Switchgears & Circuit Breakers
Transformers
Capacitors & Insulators
Others (Power Convertors, Relays etc.)

Power Transmission Components Market: By Current Type

HVAC (High Voltage Alternating Current)
HVDC (High Voltage Direct Current)

Power Transmission Components Market: By Region

Asia Pacific

China
India
Rest of Asia Pacific

North America

U.S.
Canada
Mexico

Europe

CIS
Germany
U.K.
Rest of Europe

Middle East and Africa

Kingdom of Saudi Arabia
South Africa
Rest of Middle East and Africa

South and Central America

Brazil
Argentina
Rest of South and Central America

Browse Regional Analysis: http://www.europlat.org/growing-regulatory-support-to-environmental-conservation-propels-global-power-transmission-components-market-transparency-market-research.htm

Browse Other Published Research Reports:

HVAC Equipment Market: http://www.transparencymarketresearch.com/hvac-equipment-market.html

Advanced Phase Change Materials Market: http://www.transparencymarketresearch.com/phase-change-material-market.html

Insulation Market: http://www.transparencymarketresearch.com/insulation-market.html

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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