Global Electricity Transmission Infrastructure Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Switchgear & Switchboard Apparatus ,Transformers Include Power & Distribution Transformers, and Others.By Application;
Overhead Power Transmission, and Underground Power Transmission.By Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Electricity Transmission Infrastructure Market (USD Million), 2021 - 2031
In the year 2024, the Global Electricity Transmission Infrastructure Market was valued at USD 3228.53 million. The size of this market is expected to increase to USD 4854.51 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.0%.
The global electricity transmission infrastructure market is a vital segment within the energy industry, responsible for the safe, efficient, and reliable movement of electricity from power plants to end users. This infrastructure includes a wide range of assets such as high-voltage transmission lines, substations, transformers, and other essential components that facilitate the long-distance transportation of electricity. As energy demand continues to rise globally, the importance of robust and scalable transmission networks has grown, particularly in meeting the needs of rapidly expanding urban populations and supporting the integration of renewable energy sources.
Key factors driving the growth of the electricity transmission infrastructure market include the increasing global demand for electricity, urbanization, and the global push toward cleaner and more sustainable energy sources. Countries worldwide are undergoing significant energy transitions, with many adopting renewable energy technologies such as solar, wind, and hydroelectric power. This shift necessitates the development of modern transmission grids capable of handling the complexities of integrating intermittent renewable energy sources and ensuring stable, uninterrupted electricity supply across regions. Moreover, the growing need for energy security and the need to address aging infrastructure have led to significant investments in grid modernization and expansion projects.
The market is also influenced by technological advancements and innovations in grid management, automation, and smart grid technologies. The development of smart grids, which utilize digital communication technology to monitor and manage electricity transmission systems, has improved grid efficiency, reliability, and the ability to accommodate decentralized energy production. Additionally, the rise of energy storage solutions and the increasing focus on reducing transmission losses have further fueled the demand for advanced transmission infrastructure. With continued urbanization, rising energy consumption, and the push for sustainable energy solutions, the electricity transmission infrastructure market is poised for substantial growth in the coming years, offering numerous opportunities for innovation, investment, and development in the sector.
Global Electricity Transmission Infrastructure Market Recent Developments
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In March 2024, Siemens Energy announced the completion of a 500-kV HVDC transmission line in South America, enabling enhanced grid connectivity and power stability across multiple regions.
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In November 2023, ABB Power Grids secured a contract to modernize a key transmission network in the Middle East, integrating renewable energy sources to meet growing electricity demands.
Segment Analysis
This report extensively covers different segments of Global Electricity Transmission Infrastructure Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments.
Switchgear & switchboard apparatus play a crucial role in controlling and protecting electrical circuits, ensuring the safe and efficient operation of transmission infrastructure. Transformers, including both power and distribution variants, are essential components for voltage regulation, power conversion, and energy distribution in electricity transmission networks. Other segments encompass various auxiliary equipment and components, such as circuit breakers, insulators, and protective relays, contributing to the overall functionality and reliability of transmission infrastructure. Market analysis indicates a growing demand for advanced switchgear solutions, efficient transformers, and innovative auxiliary equipment to meet evolving grid requirements and support the integration of renewable energy sources.
The Global Electricity Transmission Infrastructure Market is segmented into overhead power transmission and underground power transmission. Overhead power transmission involves the use of transmission lines suspended on poles or towers to carry electricity over long distances. This method offers cost-effective and easily accessible solutions for transmitting electricity across diverse terrains and environments. Conversely, underground power transmission entails the installation of transmission cables buried beneath the ground, offering advantages such as reduced visual impact, enhanced reliability, and lower susceptibility to weather-related disruptions. Market analysis indicates increasing investments in both overhead and underground transmission infrastructure to meet growing electricity demand, enhance grid reliability, and support the expansion of renewable energy integration. Furthermore, technological advancements in cable design, insulation materials, and installation techniques are driving the adoption of underground transmission solutions in urban areas and environmentally sensitive regions.
Global Electricity Transmission Infrastructure Segment Analysis
In this report, the Global Electricity Transmission Infrastructure Market has been segmented by Type, Application and Geography.
Global Electricity Transmission Infrastructure Market, Segmentation by Type
The Global Electricity Transmission Infrastructure Market has been segmented by Type into Switchgear & Switchboard Apparatus ,Transformers Include Power & Distribution Transformers, and Others.
Switchgear & switchboard apparatus play a pivotal role in the electricity transmission ecosystem, serving as critical components for controlling and protecting electrical circuits. These apparatus ensure the safe and efficient operation of transmission infrastructure by regulating voltage levels, isolating faulty circuits, and facilitating the smooth flow of electricity within the grid. As the demand for reliable and resilient electricity transmission networks continues to rise, there is a growing emphasis on advanced switchgear solutions capable of handling higher voltages, improving grid stability, and integrating renewable energy sources seamlessly.
Power transformers are utilized for stepping up or stepping down voltage levels to facilitate long-distance transmission, while distribution transformers are employed for delivering electricity to end-users at lower voltage levels. With increasing investments in grid modernization, renewable energy integration, and electrification initiatives, there is a heightened demand for efficient and technologically advanced transformers capable of meeting diverse grid requirements and supporting the transition towards a more sustainable energy future. The segment also includes various auxiliary equipment and components, such as circuit breakers, insulators, and protective relays, which contribute to the overall functionality and reliability of electricity transmission infrastructure.
Global Electricity Transmission Infrastructure Market, Segmentation by Application
The Global Electricity Transmission Infrastructure Market has been segmented by Application into Overhead Power Transmission and Underground Power Transmission.
The Global Electricity Transmission Infrastructure Market has been segmented by Application into Overhead Power Transmission and Underground Power Transmission.
Overhead power transmission involves the utilization of transmission lines suspended on poles or towers to convey electricity across vast distances. This method has been traditionally favored for its cost-effectiveness, accessibility, and ease of maintenance.
The visual impact and susceptibility to weather-related disruptions are factors that need to be considered. On the other hand, Underground Power Transmission entails the deployment of transmission cables buried beneath the ground surface. This approach offers advantages such as reduced visual intrusion, heightened reliability, and decreased vulnerability to weather-related disturbances. With technological advancements in cable design, insulation materials, and installation techniques, underground transmission solutions have gained traction, particularly in urban areas and regions sensitive to environmental concerns. The segmentation of the Electricity Transmission Infrastructure Market by application provides stakeholders with valuable insights into the diverse requirements and preferences governing the selection and deployment of transmission solutions to meet evolving energy needs and infrastructure demands globally.
Global Electricity Transmission Infrastructure Market, Segmentation by Geography
In this report, the Global Electricity Transmission Infrastructure Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Electricity Transmission Infrastructure Market Share (%), by Geographical Region, 2024
North America, extensive investments in grid modernization initiatives, renewable energy integration, and cross-border transmission projects drive the demand for advanced transmission infrastructure solutions. Regulatory support for energy transition and resilience initiatives fosters market growth, while the adoption of smart grid technologies and grid resilience measures further enhances the reliability and efficiency of electricity transmission networks across the region.
In Europe, efforts to achieve energy security, decarbonization goals, and enhance grid connectivity drive investments in electricity transmission infrastructure. The European Union's ambitious energy policies, including the European Green Deal and the Clean Energy for All Europeans Package, promote regional grid integration, renewable energy deployment, and cross-border electricity trading initiatives. Additionally, initiatives such as the North Sea Wind Power Hub and the European Network of Transmission System Operators for Electricity (ENTSO-E) facilitate the development of interconnected transmission networks, enabling efficient electricity transmission and fostering market growth.
Across Asia Pacific, rapid urbanization, industrialization, and economic development fuel the demand for electricity transmission infrastructure to support growing energy needs and facilitate the integration of renewable energy sources. Governments in the region prioritize investments in transmission infrastructure expansion, grid modernization, and interconnection projects to enhance energy access, reliability, and sustainability. Initiatives such as the Belt and Road Initiative and the Asian Infrastructure Investment Bank (AIIB) promote regional cooperation and investment in cross-border electricity transmission infrastructure, driving market growth and regional energy integration efforts.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Electricity Transmission Infrastructure Market. Market. Drivers, Restraints and Opportunities.
Drivers, Restraints and Opportunities
Drivers:
- Renewable Energy Integration
- Urbanization and Industrialization
- Grid Modernization Initiatives
- Energy Security Concerns
- Electrification of Transportation
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Cross-Border Energy Trading- Cross-border energy trading plays a pivotal role in the Global Electricity Transmission Infrastructure Market, facilitating the exchange of electricity between neighboring countries and regions. This form of trading enables countries to optimize their energy resources, balance supply-demand disparities, and enhance energy security by diversifying their energy sources. Cross-border energy trading often involves the transmission of surplus electricity from regions with excess generation capacity to areas experiencing shortages, thereby mitigating imbalances in supply and demand. By leveraging interconnection infrastructure such as transmission lines, substations, and interconnectors, countries can access a wider pool of electricity resources, promote efficient utilization of renewable energy, and foster regional energy cooperation and integration.
Key drivers of cross-border energy trading is the growing emphasis on renewable energy deployment and climate change mitigation efforts. Many countries are investing in renewable energy sources such as solar, wind, and hydroelectric power to reduce carbon emissions and transition towards a low-carbon energy future. Renewable energy generation can be variable and location-dependent, leading to fluctuations in electricity supply. Cross-border energy trading enables countries to harness the complementarity of renewable energy resources across borders, optimizing generation patterns and enhancing grid stability. Cross-border trading facilitates the integration of intermittent renewables into the grid by enabling surplus renewable energy to be exported to neighboring regions during periods of high generation, reducing curtailment and maximizing renewable energy utilization.
Cross-border energy trading promotes economic growth, market efficiency, and price competitiveness in the Global Electricity Transmission Infrastructure Market. By expanding access to diverse electricity sources and fostering competition among market participants, cross-border trading encourages market liberalization, innovation, and investment in transmission infrastructure. Countries with abundant renewable energy resources can capitalize on their comparative advantages by exporting clean energy to neighboring regions, generating revenue and stimulating economic development. Cross-border trading enhances price discovery and market efficiency by aligning electricity prices across interconnected regions, enabling consumers to access more competitive electricity rates and reducing the overall cost of electricity procurement. Cross-border energy trading contributes to the resilience, sustainability, and efficiency of the global electricity transmission infrastructure, supporting the transition towards a more interconnected and renewable energy-driven energy landscape.
Restraints:
- Regulatory and Permitting Challenges
- Land Acquisition and Right-of-Way Issues
- Technological and Operational Challenges
- Public Opposition and NIMBY Syndrome
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Uncertainty in Energy Policies- Uncertainty in energy policies presents significant challenges and impacts within the Global Electricity Transmission Infrastructure Market. Fluctuations and shifts in energy policies, regulations, and government priorities can create a volatile business environment for market participants, affecting investment decisions, project planning, and long-term infrastructure development. Uncertainty arises from factors such as changes in political leadership, shifts in energy policy agendas, and conflicting interests among stakeholders, leading to unpredictability in the regulatory landscape. This uncertainty undermines investor confidence, hampers project financing, and prolongs decision-making processes, delaying critical infrastructure investments needed to meet growing energy demand and support grid modernization efforts.
Inconsistency and ambiguity in energy policies can hinder the transition towards cleaner and more sustainable energy systems, impacting the deployment of renewable energy projects and the integration of low-carbon technologies into electricity transmission infrastructure. Without clear and stable policy frameworks, market players may hesitate to commit to long-term investments in renewable energy transmission infrastructure, slowing down the pace of energy transition and decarbonization efforts. Uncertainty in energy policies may exacerbate market fragmentation and regulatory disparities across regions, complicating cross-border energy trading initiatives and hindering efforts to achieve regional energy security and cooperation objectives.
Uncertainty in energy policies can impede innovation and technological advancements in electricity transmission infrastructure. Ambiguous or inconsistent policies may discourage research and development investment in next-generation transmission technologies, grid optimization solutions, and resilience measures, limiting the industry's ability to address emerging challenges and capitalize on new opportunities. Clear and stable energy policies are essential to providing a conducive regulatory environment that fosters innovation, encourages investment, and promotes the adoption of advanced transmission infrastructure solutions needed to build resilient, efficient, and sustainable electricity grids for the future.
Opportunities:
- Grid Resilience and Flexibility Solutions
- Digitalization and Automation
- Interconnection Projects and Regional Integration
- HVDC Transmission Technology
- Infrastructure Investment and Stimulus Programs
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Electrification of Industry and Buildings- The electrification of industry and buildings represents a significant policy focus within the domain of the Global Electricity Transmission Infrastructure Market. Governments and regulatory bodies worldwide are increasingly implementing policies aimed at promoting the electrification of industrial processes and building systems as part of broader efforts to reduce greenhouse gas emissions, enhance energy efficiency, and achieve sustainability goals. These policies recognize the potential of electrification to decarbonize sectors traditionally reliant on fossil fuels, such as manufacturing, construction, and transportation, thereby contributing to climate change mitigation efforts and advancing the transition towards cleaner energy sources.
Policy measures to promote the electrification of industry often include financial incentives, regulatory standards, and support mechanisms to encourage the adoption of electric technologies and the transition away from carbon-intensive energy sources. Governments may offer tax credits, grants, or subsidies to industrial facilities investing in electrified equipment, such as electric furnaces, electric boilers, and electric vehicles for material handling. Regulatory mandates and emissions regulations may incentivize industrial sectors to electrify processes to comply with environmental standards and reduce their carbon footprint. Collaborative initiatives between governments, industry stakeholders, and research institutions play a crucial role in driving innovation and technology development in electrification, facilitating the deployment of advanced electric technologies and solutions in industrial settings.
In the building sector, electrification policies focus on promoting the use of electric heating, cooling, and appliances to replace fossil fuel-based systems such as natural gas furnaces and boilers. These policies aim to improve energy efficiency, reduce greenhouse gas emissions, and enhance indoor air quality in residential, commercial, and institutional buildings. Governments may implement building codes, energy efficiency standards, and retrofit programs requiring new construction and existing buildings to meet electrification requirements, such as installing electric heat pumps for space heating and water heating. Financial incentives, rebates, and financing options may be available to incentivize building owners and developers to invest in electrified building systems and technologies. Electrification policies in industry and buildings play a crucial role in driving demand for electricity transmission infrastructure by increasing electricity consumption and supporting the integration of renewable energy sources into the grid.
Competitive Landscape Analysis
Key players in Global Electricity Transmission Infrastructure Market include:
- ABB Limited
- Alstom SA
- Mitsubishi Electric
- Eaton
- General Electric Company
- Hitachi Limited
- Siemens AG
- Toshiba Corporation
- OSRAM Licht AG
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Electricity Transmission Infrastructure Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Renewable Energy Integration
- Urbanization and Industrialization
- Grid Modernization Initiatives
- Energy Security Concerns
- Electrification of Transportation
- Cross-Border Energy Trading
- Restraints
- Regulatory and Permitting Challenges
- Land Acquisition and Right-of-Way Issues
- Technological and Operational Challenges
- Public Opposition and NIMBY Syndrome
- Uncertainty in Energy Policies
- Opportunities
- Grid Resilience and Flexibility Solutions
- Digitalization and Automation
- Interconnection Projects and Regional Integration
- HVDC Transmission Technology
- Infrastructure Investment and Stimulus Programs
- Electrification of Industry and Buildings
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Electricity Transmission Infrastructure Market, By Type, 2021 - 2031 (USD Million)
- Switchgear & Switchboard Apparatus
- Transformers Include Power & Distribution Transformers
- Others
- Global Electricity Transmission Infrastructure Market, By Application, 2021 - 2031 (USD Million)
- Overhead Power Transmission
- Underground Power Transmission
- Global Electricity Transmission Infrastructure Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Electricity Transmission Infrastructure Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- ABB Limited
- Alstom SA
- Mitsubishi Electric
- Eaton
- General Electric Company
- Hitachi Limited
- Siemens AG
- Toshiba Corporation
- OSRAM Licht AG
- Company Profiles
- Analyst Views
- Future Outlook of the Market