Electric Power Transmission, Control, And Distribution Global Market Report 2021: COVID-19 Impact And Recovery

The Business Research Company’s Electric Power Transmission, Control, And Distribution Global Market Report 2021: COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, November 12, 2021 /EINPresswire.com/ -- According to the new market research report ‘Electric Power Transmission, Control, And Distribution Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the electric power transmission, control, and distribution market is expected to grow from $2.14 trillion in 2020 to $2.28 trillion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.04 trillion in 2025 at a CAGR of 7%. The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the power generation market.

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The electric power transmission, control, and distribution market consists of sales of electric power by entities (organizations, sole traders and partnerships) that operate electric power transmission systems, control (i.e., regulate voltages) the transmission of electricity, and/or distribute electricity. The transmission system includes lines and transformer stations. Establishments in this market arrange, facilitate, or coordinate the transmission of electricity from the generating source to the distribution centers, other electric utilities, or final consumers. The distribution system consists of lines, poles, meters, and wiring that deliver the electricity to final consumers.

Trends In The Global Electric Power Transmission, Control, And Distribution Market
Utility business models are continuously evolving from traditional electricity generation models to new business models such as distributed generation models to cut costs and improve transmission and distribution efficiencies. Distributed generation refers to localized power generation using solar panels and other low-cost technologies to produce electricity close to the point of consumption. Consumers are switching to more cost-effective and controlled distributed generation networks, therefore electric power generation companies should now focus on distributed generation rather than a centralized electricity generation model. Also, many companies are using new revenue models and incentives instead of traditional cost-of-service models. For instance, New York’s (Reforming Energy Vision) REV docket is focused on distributed generation and performance-based incentives to push utilities to serve grid needs. Electric utilities in states like California, Minnesota and Massachusetts are also involved with the REV initiative .According to Citigroup, in next two decades the European decentralized electricity market will grow to one-third of total utility market.

Global Electric Power Transmission, Control, And Distribution Market Segments:
The global electric power transmission, control, and distribution market is further segmented:
By Type: Electric Power Distribution, Electric Bulk Power Transmission And Control
By Geography: The global electric power transmission, control, distribution market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific electric power transmission, control, and distribution market accounts for the largest share in the global electric power transmission, control, and distribution market.

Read More On The Report For The Global Electric Power Transmission, Control, And Distribution Market At:
https://www.thebusinessresearchcompany.com/report/electric-power-transmission-control-and-distribution-global-market-report-2020-30-covid-19-impact-and-recovery

Electric Power Transmission, Control, And Distribution Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides electric power transmission, control, and distribution market overviews, analyzes and forecasts market size and growth for the global electric power transmission, control, and distribution market, electric power transmission, control, and distribution market share, electric power transmission, control, and distribution market players, electric power transmission, control, and distribution market segments and geographies, electric power transmission, control, and distribution market’s leading competitors’ revenues, profiles and market shares. The electric power transmission, control, and distribution market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Read Electric Power Transmission, Control, And Distribution Global Market Report 2021 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Electric Power Transmission, Control, And Distribution Market Organizations Covered: Duke Energy, Engie SA, National Grid, NextEra, Elctricit de France.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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Here is a list of reports from The Business Research Company similar to the Electric Power Transmission, Control, And Distribution Global Market Report 2021:

Mechanical Power Transmission Equipment Global Market Report 2021: COVID-19 Impact And Recovery
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Power Transmission, Control, And Distribution Market: Opportunities And Strategies – Global Forecast To 2022
https://www.thebusinessresearchcompany.com/report/power-transmission-control-and-distribution-market

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