(EMAILWIRE.COM, February 04, 2019 ) The Business Research Companys power generation, transmission and control manufacturing global market report, covers the year-on-year growth of the global power generation, transmission and control manufacturing market historic and forecast growth. It also includes chapters on the power generation, transmission and control manufacturing market trends, geographical analysis, and competitive landscape.
The global power generation, transmission and control manufacturing market size is expected to reach $500 billion by 2022, significantly growing at a CAGR of around 4.5% during the forecast period.
Power Generation, Transmission And Control Manufacturing Market Trends
The power generation, transmission and control manufacturing market consist of sales of power generation, transmission and control equipment by entities (organizations, sole traders and partnerships) that produce power, distribution, and specialty transformers; electric motors, generators, and motor generator sets; switchgear and switchboard apparatus; relays; and industrial controls.
The relay and industrial control industry is increasingly adopting SCADA (Supervisory control and data acquisition) systems to enhance process efficiency and productivity. SCADA systems are used to remotely control industrial processes such as power generation, fabrication and refining through coded signals over cloud channels. The applications of these SCADA systems is expected to rise mainly due to their scalability, ease of upgrading, emergence of global smart grid projects and increased use of cloud technologies. The market is also benefitting from high demand for energy and renewable resource projects. The SCADA systems market is estimated to grow at a CAGR of 7.2% from 2014 to 2020.
The global power generation, transmission and control manufacturing market is primarily driven by rise in disposable income, increase in investments in this sector in recent years and increasing market demand.
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The global power generation, transmission and control manufacturing market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increase in economic growth and rising demand of power generation, the global power generation, transmission and control manufacturing market is expected to increase in potential and scope. TBRCs report also covers the power generation, transmission and control manufacturing drivers and restraints in the market.
The global power generation, transmission and control manufacturing markets segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global power generation, transmission and control manufacturing market report are Siemens AG, ABB Ltd, Schneider Electric SA, General Electric Corporation, Mitsubishi Electric Corporation.
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