Electric Power Transmission and Distribution Equipment Market Size

Electric Power Transmission and Distribution Equipment Market size was registered a profitable valuation of USD 244.6 billion in 2024 and is projected to reach USD 548.1 billion in 2037 expanding at a CAGR of 6.4% during the forecast period, i.e., 2025-2037. In 2025, the industry size of electric power transmission and distribution equipment is estimated at USD 260.3 billion. The market’s growth is attributed to rapid industrialization and urbanization. For instance, the United Nations (UN) estimates that 68% of the world's population to be saturated in urban areas by 2050. The UN-Habitat report estimated that 55% of the global population to be living in urban areas in 2022. The growth in urbanization is projected to fuel a surge in demand for electricity that in turn is set to boost demands for electric power transmission and distribution equipment.

A significant driver of the electric power transmission and distribution equipment market is the transition towards adopting smart grid technology. Smart grids necessitate the incorporation of sensors and data analytics for electricity distribution. As a growing number of countries invest in distributed-generated systems, the demand for equipment that can support real-time monitoring and automated grid control is poised to rise. Additionally, countries are investing heavily to improve grid reliability and it opens new revenue opportunities for the global electric power transmission and distribution equipment market. For instance, in July 2023, Schneider Electric announced that the company had signed a contract to upgrade the medium voltage electrical distribution network of Serbia, and the project is valued at USD 152.5 million.

Globally, the push for energy resilience has pushed large-scale investments in microgrids. The growth of the microgrid sector is correlated with an increase in demand for equipment, fueling the profitability of the electric power transmission and distribution equipment market. Key market players are positioned to benefit from the increasing adoption of electric vehicles (EVs) and energy storage systems. The trends to adopt EVs are tied to a global push to reduce emissions and dependency on fossil fuels, which in turn creates a burgeoning need for charging infrastructure that requires power transmission and distribution equipment. For instance, in September 2024, Schneider Electric announced the new Schneider Charge Pro Level 2 AC commercial electric vehicle charger for EV vehicle charging as a service sector. Additionally, the growth of renewable power sources is positioned to bolster demands for equipment such as transformers, contributing to the rise of the global electric power transmission and distribution equipment market. The favorable trends are projected to enable the sector to maintain a profitable growth curve by the end of the forecast period.