Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The European power transmission infrastructure market is witnessing notable trends driven by various factors influencing the energy landscape. One significant trend is the transition towards renewable energy sources, such as wind and solar power, as countries aim to reduce carbon emissions and meet sustainability goals outlined in agreements like the Paris Agreement. This shift is leading to increased investments in upgrading and expanding the transmission infrastructure to accommodate the decentralized nature of renewable energy generation.
Moreover, there is a growing focus on interconnecting grids across different countries to facilitate the efficient transmission of electricity. This trend is driven by the need to enhance energy security, optimize resource utilization, and foster greater integration of renewable energy sources into the grid. Projects like the North Sea Wind Power Hub and various interconnection initiatives between European countries are examples of efforts aimed at strengthening cross-border transmission infrastructure.
Another noteworthy trend is the modernization of existing transmission networks to improve efficiency, reliability, and resilience. Aging infrastructure in many European countries requires upgrades to accommodate changing demand patterns, integrate new technologies, and mitigate risks associated with extreme weather events and cyber threats. As a result, investments in smart grid technologies, advanced monitoring and control systems, and grid automation are on the rise.
Furthermore, the electrification of transportation and heating sectors is driving the need for additional transmission capacity and infrastructure upgrades. The adoption of electric vehicles (EVs) and the electrification of heating systems in buildings are expected to increase electricity demand significantly in the coming years. To support this transition, investments in expanding and reinforcing transmission networks are essential to ensure reliable and resilient supply to meet growing demand from these sectors.
Additionally, regulatory frameworks and policies play a crucial role in shaping market trends in the European power transmission infrastructure sector. Initiatives such as the European Green Deal and the Clean Energy Package set ambitious targets for decarbonization, energy efficiency, and renewable energy deployment, driving investments in clean energy infrastructure, including transmission networks. Moreover, regulatory reforms aimed at promoting competition, fostering innovation, and ensuring fair access to the grid are influencing investment decisions and market dynamics.
The European power transmission infrastructure market is characterized by a dynamic landscape shaped by the transition towards renewable energy, cross-border grid integration, modernization efforts, electrification trends, and evolving regulatory frameworks. As countries strive to build more sustainable, resilient, and interconnected energy systems, investments in upgrading and expanding transmission infrastructure will continue to play a crucial role in shaping the future of Europe's energy landscape.
Europe power transmission infrastructure Market Highlights:
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
-
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
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
