Electric power equipment demand to exceed $85 billion in 2008

Cleveland, OH—Worldwide demand for equipment used in electronic power transmission and distribution is projected to increase by 4.5% annually though 2008, reaching $85.7 billion, according to Freedonia Group Inc.


Cleveland, OH— Worldwide demand for equipment used in electronic power transmission and distribution is projected to increase by 4.5% annually though 2008, reaching $85.7 billion. The largest regional markets for electric power equipment will remain Asia/Pacific, North America, and Western Europe. While the main product categories—transformers, switchgear, and switchboard apparatus—will register similar gains, certain products within these categories will perform better than others, according to a new study, World Electric Power Equipment , by Freedonia Group Inc. , an industrial market research firm.

Heightened use of electric machinery, automation systems, computers, security systems and other sensitive electronic equipment is expected to bolster sales of advanced switchgear systems and power circuit breakers capable of monitoring and controlling incoming electric power. However, the study also found that high-voltage transformers, traditionally used almost exclusively by utilities, will become more common in other industrial markets because of increased cogeneration, especially in industrialized nations.

Freedonia's study also projects that the Asia/Pacific region is projected to have the strongest increase in demand for electric power equipment among all regions. Asia/Pacific is home to more than 55% of the world's population, and a sizeable portion presently live in areas without electricity. Robust economic growth in developing nations, such as China and India, combined with rapid urbanization and increased spending on infrastructure, including roads and electricity, will boost demand for electric power equipment. The developed Japanese market, however, is expected to continue posting below-average gains through 2008.

Meanwhile, North American and Western European markets also are expected to perform below the global average. Both regions have relatively large, mature markets for electric power equipment. In Western Europe, growth in demand for electric power equipment will be hampered by negligible population gains through 2008. However, another major blackout in these regions, similar to the one that affected parts of the U.S. and Canada in 2003, could alter this forecast because consumers likely would force significant upgrades in national systems.

Control Engineering Daily News Desk
Jim Montague, news editor

No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
Mobile HMI; PID tuning tips; Mechatronics; Intelligent project management; Cybersecurity in Russia; Engineering education; Road to IANA
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me