Reports Monitor has made available a market research study which focuses on the smart grid transmission and distribution (T&D) equipment in the global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.
According to the report, the global smart grid T&D equipment market to grow at a CAGR of more han 13.5% over the forecast period 2018-2023.
One of the main factors driving the market is a rapid modernization of the grid by implementing smart grids that use digital and information technology to manage the power flow efficiently. Also, significant investments are made in the refurbishment and replacement of the aged T&D infrastructure, thereby propelling the growth prospects for this market in the coming years.Some of the key market players mentioned in the report include ABB, GE-Alstom Grid, Eaton, Schneider Electric, Siemens, Emerson, Mitsubishi and more.
Source: Reports Monitor