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