Europe Power Transmission Infrastructure Market Research Report Information By Product Type (Switchgear and Switchboard Apparatus, Transformers include power and distribution transformers, and Others), By Transmission Line Type (Overhead power transmission and Underground power transmission), By Technology (High-voltage direct current (HVDC), Smart Grid, and Others (new transformer core shapes, amorphous core transformers, among others)), By Application (Industrial, Commercial, Residential, Transportation, and Others), – and Europe Market F

Europe Power Transmission Infrastructure Market Overview:

Europe Power Transmission Infrastructure Market Size was valued at USD 13.5 Billion in 2022. The Europe power transmission infrastructure market industry is projected to grow from USD 14.17 Billion in 2023 to USD 20.942 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). Market drivers including improving grid stability, facilitating the deployment of electric vehicles, and addressing the issues associated with the energy transition all have an impact on the European power transmission infrastructure market.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Power Transmission Infrastructure Market Trends

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  Growing Infrastructure Investment in Renewable Energy is Driving Market Growth

  
  

Growing infrastructural investment in renewable energy sources is driving the market expansion. There is an increasing need for transmission infrastructure to move electricity from renewable energy sources, such wind and solar power, to consumers. Due to the fluctuating and irregular nature of renewable energy sources, there has been a rise in investment in high-voltage transmission lines and other infrastructure. Furthermore, transmission infrastructure for renewable energy has been the focus of investment due to this trend, replacing traditional transmission and distribution infrastructure. The creation of new distribution infrastructure is also important for the integration of renewable energy sources into the grid, as they are distributed and decentralized. Moreover, the integration of renewable energy sources into the grid is now possible because to increased investment in smart grids, microgrids, and other distribution infrastructures. Standard energy distribution infrastructure has been replaced with renewable energy distribution infrastructure due to this development.

Electricity infrastructure investments are being driven by increased electricity consumption as a result of urbanization and population growth. As cities grow in size & population, so does demand for electricity, necessitating the expansion of existing infrastructure as well as the construction of new transmission and distribution lines. Furthermore, the majority of this growth is predicted to come from developing countries, particularly Europe, where populations are rapidly increasing and urbanization is increasing. Governments in emerging economies are investing in new energy transmission and distribution lines to connect rural areas to the grid and improve people's access to electricity. Thus, driving the Europe power transmission infrastructure market revenue.

Europe Power Transmission Infrastructure Market Segment Insights:

Power Transmission Infrastructure Product Type Insights

The Europe Power Transmission Infrastructure market segmentation, based on product type includes Switchgear and Switchboard Apparatus, Transformers include power and distribution transformers, and Others. The transformers include power and distribution transformers segment dominated the market mostly. In order to facilitate energy flow across the grid and transport electricity across large distances, power transformers are essential components. The need to replace outdated infrastructure, integrate renewable energy sources, and increase electricity consumption are some of the factors driving the need for power transformers.

Power Transmission Infrastructure Transmission Line Type Insights

The Europe Power Transmission Infrastructure market segmentation, based on transmission line type, includes Overhead power transmission and Underground power transmission. The overhead power transmission category generated the most income. Overhead transmission networks have expanded and modernized as a result of the need for more transmission capacity to accommodate the world's expanding energy needs as well as the incorporation of renewable energy sources. Furthermore, large-scale transmission projects typically select overhead lines since they are thought to be more affordable than subterranean options.

Power Transmission Infrastructure Technology Insights

The Europe Power Transmission Infrastructure market segmentation, based on technology, includes High-voltage direct current (HVDC), Smart Grid, and Others (new transformer core shapes, amorphous core transformers, among others). The high-voltage direct current (HVDC) category generated the most income. Reduced transmission losses over long distances, effective integration of renewable energy, and improved grid resilience are some benefits of HVDC technology. The deployment of HVDC systems in Europe is being driven by the growing need to transport electricity from far renewable energy sources and the growing demand for cross-border power grid interconnection.

Power Transmission Infrastructure Application Insights

The Europe Power Transmission Infrastructure market segmentation, based on application, includes Industrial, Commercial, Residential, Transportation, and Others. The industrial category generated the most income influenced by elements such as the growing industry, urbanization, and demand for power from businesses. Strong and dependable power transmission networks are necessary for the expansion of commercial spaces, such as office buildings, shopping malls, and data centers, in order to fulfill rising energy demands. The requirement for a reliable and effective power transmission infrastructure is further increased by the growing popularity of electric vehicles and the electrification of numerous commercial activities.

Figure 1: Europe Power Transmission Infrastructure Market by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Power Transmission Infrastructure Country Insights

The integration of renewable energy sources, the rise in electricity consumption, and technological developments in grid systems all have an impact on the expansion of the power transmission infrastructure industry in Europe. The region's changing power transmission environment is influenced by investments in renewable energy projects, smart grids, and connectivity. Growth in the sector is also greatly aided by initiatives and regulatory support targeted at improving grid efficiency. Furthermore, modern, robust transmission networks are becoming more and more necessary as we move toward greener energy sources like solar and wind. An efficient way to guarantee a steady supply of electricity and promote the integration of renewable energy sources is through building high-voltage transmission lines and cross-border interconnections. The European power transmission infrastructure industry is growing and remaining sustainable due in part to ongoing efforts to update outdated infrastructure and the introduction of digital technology for grid management.

Figure 2: Europe Power Transmission Infrastructure Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Power Transmission Infrastructure Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the power transmission infrastructure market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, power transmission infrastructure industry must offer cost-effective items.

Major players in the Europe power transmission infrastructure market are attempting to increase market demand by investing in research and development operations includes ABB Limited, Alstom SA, Mitsubishi Electric, Eaton, General Electric Company, Hitachi Limited, Siemens AG, Toshiba Corporation and OSRAM Licht AG.

Key Companies in the Europe power transmission infrastructure market include

• ABB Limited


• Alstom SA


• Mitsubishi Electric


• Eaton


• General Electric Company


• Hitachi Limited


• Siemens AG


• Toshiba Corporation


• OSRAM Licht AG

Europe Power Transmission Infrastructure Market Segmentation:

Power Transmission Infrastructure Product Type Outlook

• Switchgear and Switchboard Apparatus


• Transformers include power and distribution transformers


• Others

Power Transmission Infrastructure Transmission Line Type Outlook

• Overhead power transmission


• Underground power transmission

Power Transmission Infrastructure Technology Outlook

• High-voltage direct current (HVDC)


• Smart Grid


• Others (new transformer core shapes, amorphous core transformers, among others)

Power Transmission Infrastructure Application Outlook

• Industrial


• Commercial


• Residential


• Transportation


• Others

Power Transmission Infrastructure Regional Outlook

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Sweden
  
  
  • Denmark
  
  
  • Luxembourg
  
  
  • Norway
  
  
  • Austria
  
  
  • Rest of Europe