Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- The Market Insights Reports has added a new statistical market report to its repository titled as, Power Generation, Transmission And Control Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The report also presents forecasts for Power Generation, Transmission And Control investments from 2020 to 2023.
The global power generation, transmission and control market is expected to decline from $502.1 billion in 2019 to $485.9 billion in 2020 at a compound annual growth rate (CAGR) of -3.3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $585.7 billion in 2023.
Top Leading Companies of Global Power Generation, Transmission And Control Market are Siemens AG; ABB Ltd; Schneider Electric SA; General Electric Corporation; Mitsubishi Electric Corporation and others.
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Asia Pacific was the largest region in the global power generation, transmission and control market, accounting for 43% of the market in 2019. Western Europe was the second largest region accounting for 26% of the global power generation, transmission and control market. Africa was the smallest region in the global power generation, transmission and control market.
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 power generation, transmission and control market consists 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.
Markets Covered:
1) By Type: Transformer; Motor And Generator; Switchgear And Switchboard Apparatus; Relay And Industrial Control
2) By End User Sector: Private; Public
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Power Generation, Transmission And Control Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Geographically, this report is segmented into several key Regions, with sales, revenue, Market Share (%) and Growth Rate (%) of Power Generation, Transmission And Control in these regions, from 2015 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Power Generation, Transmission And Control market with an analysis of market size by value and volume. Along with this, an analysis of the penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Power Generation, Transmission And Control market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, externally verified to gain market size.
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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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