Power infrastructure market is anticipated to grow at a considerable CAGR of 8.04% during the forecast period. The demand for power infrastructure is increasing due to several reasons. Population growth, urbanization, and industrialization have all led to an increase in the demand for electricity. The growing global population requires more energy, and as more people move to cities, the demand for electricity increases. The rapid growth of industries such as manufacturing, construction, and technology has also led to an increase in the demand for electricity. Additionally, the transition to renewable energy sources has increased the need for new power infrastructure, such as wind turbines and solar panels, as well as energy storage systems and power distribution infrastructure. Aging power infrastructure in many countries is also in need of upgrades and replacements to ensure a reliable and efficient power supply.
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Based on application, the market is sub-segmented into industrial power, commercial power, and residential power. Among these, the industrial sector is expected to hold a significant share of the market. The industrial sector typically requires the most power compared to the commercial and residential sectors. The industrial sector includes manufacturing, construction, mining, and other industrial processes that require large amounts of energy for machinery, equipment, and production processes. These industries often operate 24/7 and require a consistent and reliable power supply to maintain their operations, which means they consume a significant amount of energy. Additionally, the International Energy Agency’s (IEA) report on global electricity consumption in 2020 stated that the industrial sector accounted for 28% of global electricity consumption. This translates to approximately 23,420 TWh of electricity consumed by the industrial sector globally in 2020.
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- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Power Infrastructure Market by Type
- Transformers
- Switchgear
- Substations
Global Power Infrastructure Market by Application
- Industrial Power
- Commercial Power
- Residential Power
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB
- Adani Transmission Ltd.
- Alstom
- Eaton Corp.
- General Electric
- Hitachi ABB Power Grids
- Johnson Electric Coil Co.
- MCI Transformer Corp.
- Mitsubishi Electric
- Muskaan Power Infrastructure Ltd.
- Prism Power Group
- Schneider Electric
- Siemens Energy
- Toshiba Energy Systems & Solutions Corp.
- Triad Magnetics
- VRT Power
The Report Covers-
- Market value data analysis for 2023 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power infrastructure market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who stands where’ in the market.
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