The global power generation, transmission and control manufacturing market, a part of the electrical and electronics manufacturing industry, grew at a compound annual growth rate (CAGR) of around 4% during the historic period. The electrical and electronics manufacturing industry showed a steady growth. The growth is mainly due to the high demand for circuit breakers, control panels, switches and fuses from commercial establishments such as construction and individual customers. Switchgear and Switchboard Apparatus manufacturing industry comprise establishments manufacturing switchgear and switchboard apparatus.
In the forecast period, the global power generation, transmission and control manufacturing market size is expected to be over $500 billion by 2021, growing at a CAGR of nearly 4%. This is expected due to the expected increase in population, increase in dispensable income, and increasing per capita incomes are expected to drive the global power generation, transmission and control manufacturing market in the future.
Find TBRC’s report on the power generation, transmission and control manufacturing market: https://www.thebusinessresearchcompany.com/report/power-generation-transmission-and-control-manufacturing-global-market-report-2018
Transformer manufacturing market is moving towards evolution of independent and self-regulating smart transformers .Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization.
Major companies in the power generation, transmission and control manufacturing market, offering smart technology include Siemens, ABB Ltd And Schneider Electric.
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