T & D Equipment Market in Europe- Market Size, Share, Trends, Analysis and Forecasts To 2021
Market Research analysts forecast the T & D equipment market in Europe to grow at a CAGR of 3.55 % during the period 2017-2021.
According to the report, one of the major drivers for this market is offshore wind energy. The opportunities for offshore wind generation are enormous. The offshore wind generation is relatively a new technology; therefore, the cost of power generation is currently high. However, during the forecast period, we expect the cost of power generating to reduce and the technology to advance. This is expected to create a demand for the installation of new offshore wind turbines, in turn, will drive the demand for subsea power cables for transporting electricity ashore. World ' s 90 % of the offshore wind energy plants are installed in Northern Europe, Baltic, Irish seas, and the English Channel.
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Further, the report states that one of the major factors hindering the growth of this market is increase in distribution generation. A distribution generation refers to the small-scale power generation, which is done with the help of generators or renewables at the point of consumption. This is gaining popularity due to the reduced cost of energy systems such as solar PV and support from governments due to the system ' s economic and emission benefits.
About T & D equipment
Transmission and distribution( T & D) infrastructure supplies electricity to power substations and then to the electric utility, which delivers electricity to industrial and domestic consumers.
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Covered in this report
The report covers the present scenario and the growth prospects of the T & D equipment market in Europe for 2017-2021. To calculate the market size, the report considers the new installations and retrofit market. The market sizing is limited to power cables, switchgear, and transformers only.
T & D Equipment Market in Europe 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects