세계 전력 장비 시장 규모는 2024년 297억 7,000만 달러에서 2033년까지 463억 4,000만 달러에 달할 것으로 예상되며, 2025-2033년 CAGR 5.04%로 성장할 것으로 예상됩니다. 재생에너지, 인프라, 전기화, 기술 성장, 신뢰할 수 있고 비용 효율적인 친환경 전력 솔루션에 대한 수요 증가는 세계 전력 장비 시장의 주요 촉진요인입니다.
전력 장비 시장 성장 촉진요인
정부의 투자와 정책
라틴아메리카 전역의 정부 프로그램은 전력 장비 인프라에 대한 대규모 지출을 촉진하고 재생에너지 사용을 가속화하고 있으며, Enel이 IFC의 지원을 받아 추진하는 3억 달러 규모의 송배전 투자는 2030년까지 비재래식 재생에너지 비율을 1%에서 12%로 늘리려는 콜롬비아의 법에서 비롯된 가장 큰 프로젝트 중 하나입니다. 2022년 이후 5억 8,000만 달러가 넘는 송전망 정비 비용의 지원을 받아 2031년까지 140만kW의 신규 재생에너지 발전 용량을 계획하고 있습니다. 에너지 생산능력을 계획하고 있습니다. 마찬가지로 칠레는 2030년까지 전력의 70%를 재생에너지로 충당한다는 목표를 세우고 성장을 가속화하고 있으며, ACERA에 따르면 2025년까지 매년 5GW 이상의 신규 발전 용량이 추가될 예정입니다. 전력 장비 사업은 이러한 정책적 노력의 결과로 꾸준히 성장하고 있습니다.
도시화와 산업 성장
라틴아메리카의 급속한 도시화와 산업화로 인해 상업용 및 산업용 전력 장비에 대한 수요가 급증하고 있으며, 프로이덴버그 메디컬은 2,500만 달러를 투자하여 2024년 2월 코스타리카에 두 번째 시설 건설을 시작하여 산업 확장이 어떻게 전력 수요를 증가시키는지 보여주었습니다. 어떻게 전력 수요를 증가시키는지 입증했습니다. 마찬가지로, 아마존 웹 서비스(Amazon Web Services)가 칠레 산티아고에 건설한 2억 5천만 달러 규모의 데이터센터는 디지털 성장을 촉진하기 위해 신뢰할 수 있는 전력 인프라에 대한 요구가 증가하고 있음을 보여줍니다. 필요한 약 4만 4,000건(9.2% 증가)의 건축 프로젝트를 통해 건설 산업도 큰 기여를 하고 있습니다. 파나마에서는 2040년까지 30억 달러를 투자하여 26개 항구를 커버하는 항만 개발 계획이 진행되고 있어 효율적인 해양 작업을 가능하게 하는 대형 전력 장비에 대한 수요가 증가할 것으로 예상됩니다.
재생에너지 통합 및 전력망 현대화
전 세계적으로 재생에너지로의 전환에 따라 전력 장비, 특히 송배전 인프라에 대한 수요가 급증하고 있습니다. 재생에너지 발전 용량은 빠르게 증가하여 2022년 3,371.8GW에 달할 것으로 예상됨에 따라 발전량의 예측 불가능성에 대응할 수 있는 시스템이 절실히 요구되고 있습니다. 이러한 필요성은 Mingyang Smart Energy가 브라질에 건설한 240MW 규모의 풍력발전소와 같은 프로젝트가 증명하고 있습니다. 재생에너지의 증가에 따라 송전망의 현대화가 시급한 상황입니다. 2024년 5월 에콰도르의 Centrosur와 Gridpertise의 협력은 스마트 미터링 시스템 구축과 배전망의 디지털화에 대한 노력을 보여줍니다. 이와 마찬가지로, ENGIE Chile의 Lengo 송전 프로젝트는 재생에너지원의 효과적인 통합과 송전망의 탄력성 유지를 보장하는 강력하고 현대적인 전기 인프라에 대한 투자가 증가하고 있음을 보여줍니다.
전력 장비 시장의 과제
숙련공 부족
전력 장비 부문의 확장과 현대화를 가로막는 가장 큰 장애물 중 하나는 숙련된 인력의 심각한 부족입니다. 스마트 그리드, 재생에너지, 디지털 인프라의 통합으로 인한 급속한 기술 발전으로 인해 고도로 숙련된 엔지니어, 기술자 및 유지보수 직원의 필요성이 증가하고 있습니다. 그러나 현재 가용 인력이 이러한 수요 변화를 따라잡지 못해 기술 공백이 발생하고 있습니다. 이러한 인력 부족은 프로젝트 일정에 영향을 미치고, 운영 비용을 증가시키며, 설치 품질과 신뢰성을 위험에 빠뜨릴 수 있습니다. 개발도상국에서는 전문가 훈련 및 교육 기회에 대한 접근이 제한되어 있기 때문에 이러한 어려움은 더욱 악화되고 있습니다. 이러한 문제를 해결하기 위해서는 기술 교육, 인력 개발, 산업 전문 직업 훈련 프로그램에 대한 전략적 투자가 필요합니다.
세계의 전력 장비 시장에 대해 조사했으며, 성장 촉진요인 및 과제, 각 부문별 분석, 주요 기업 분석 등의 정보를 전해드립니다.
Power Equipment Market is expected to reach US$ 46.34 billion by 2033 from US$ 29.77 billion in 2024, with a CAGR of 5.04% from 2025 to 2033. The growth of renewable energy, infrastructure, electrification, technology, and the growing need for dependable, cost-effective, and environmentally friendly power solutions are the main factors propelling the worldwide power equipment market.
The report Power Equipment Global Market & Forecast covers by Equipment Type (Generator, Transformer, Switchgears, Circuit Breakers, Power Cable, Other Equipment Types), Power Generation Source (Fossil Fuel Based, Solar, Wind, Nuclear, Hydro), End-User (Residential, Industrial and Commercial, Utility), Application (Power Generation, Transmission, Distribution), Countries and Company Analysis, 2025-2033.
Global Power Equipment Industry Overview
In order to enable energy generation, transmission, and distribution across several industries, the worldwide power equipment business is essential. Among the many pieces of equipment used in this business are transformers, generators, switchgear, circuit breakers, and power inverters. The market is still expanding because to the rising demand for power brought on by fast industrialization, urbanization, and digital transformation. Adoption of cutting-edge and environmentally friendly power equipment has also accelerated due to the move toward cleaner energy sources, especially in renewable energy projects like wind, solar, and hydro. The need for intelligent and efficient power systems is being increased by governments all over the world investing in updating outdated grid infrastructure.
By improving equipment dependability and operating efficiency, technological innovations like smart grids, IoT integration, and AI-driven maintenance solutions are changing the sector. Furthermore, the industry's reach has extended beyond conventional uses due to the growing acceptance of energy storage and decentralized power generating technologies. Because of their supporting regulatory frameworks and growing energy demands, emerging economies-especially those in Asia and Africa-offer substantial development prospects. Developed markets, however, concentrate on modernizing and automating their current infrastructure. The worldwide push for energy sustainability and resilience is expected to propel the power equipment industry's continuous expansion despite supply chain difficulties and regulatory complications.
Rapid development and urbanization in key economies are driving considerable change in the Latin American power equipment industry. In an effort to close the gap between supply and demand for energy, nations like Brazil, Argentina, Mexico, and Chile are aggressively bolstering their transmission and distribution networks by building additional transmission lines and substations. Colombia is a prime example of this expansion, surpassing Chile in electricity generation with an impressive 5% rise between 2022 and 2023-much higher than its decade average of 3%. Brazil's anticipated energy consumption, which is predicted to surpass 590 TWh by 2027 and need significant investments in power equipment and distribution networks, further demonstrates the region's dedication to infrastructure growth.
The face of the power equipment market is changing due to recent advancements in the wind energy sector. While ACCIONA Energia successfully commissioned the 135.7 MW San Juan de Marcona wind farm in Peru, Mingyang Smart Energy got a 240 MW preferred supplier agreement for an onshore wind project in Brazil in December 2023. Strategic equipment supplies agreements, including Electrobras Furnas' June 2024 purchase of power transformers from WEG for the construction of the West Zone Substation in Rio de Janeiro, complement these advances and show the region's dedication to improving grid infrastructure.
Growth Drivers for the Power Equipment Market
Government Investments & Policies
Government programs throughout Latin America are propelling large expenditures in power equipment infrastructure and speeding up the use of renewable energy. Enel's USD 300 million IFC-backed transmission and distribution investment is one of the biggest projects that have resulted from laws in Colombia that seek to increase the percentage of unconventional renewable energy from 1% to 12% by 2030. With the help of more than USD 580 million in grid upgrading expenditures since 2022, Ecuador's electrical master plan calls for 1.4 GW of new renewable capacity by 2031. In a similar vein, Chile's objective to source 70% of its power from renewable sources by 2030 has accelerated growth; according to ACERA, more than 5 GW of new capacity will be added yearly until 2025. The power equipment business is seeing steady expansion as a result of these policy-driven initiatives.
Urbanization and Industrial Growth
Strong demand for commercial and industrial power equipment is being driven by Latin America's rapid urbanization and industrialization. With a USD 25 million investment, Freudenberg Medical started construction on its second facility in Costa Rica in February 2024, demonstrating how industrial expansion is driving up need for electricity. Likewise, the USD 205 million data center built by Amazon Web Services in Santiago, Chile, highlights the growing need for dependable electrical infrastructure to facilitate digital growth. With approximately 44,000 building projects in 2022-a 9.2% increase-requiring transformers, distribution systems, and backup power, the construction industry also makes a substantial contribution. The need for heavy-duty power equipment to enable effective marine operations is expected to increase in Panama due to a USD 3 billion port development plan through 2040 that covers 26 ports.
Integration of Renewable Energy and Modernization of the Grid
The need for power equipment is rising dramatically as a result of the world's transition to renewable energy, particularly in transmission and distribution infrastructure. Systems that can handle power generation unpredictability are desperately needed, since renewable capacity is expected to rise at a rapid rate, reaching 3,371.8 GW in 2022. This need is demonstrated by projects like the 240 MW wind farm in Brazil by Mingyang Smart Energy, which uses cutting-edge turbine types designed for renewable integration. Modernizing grids is becoming more urgent as renewable energy sources grow. The May 2024 cooperation between Centrosur and Gridspertise in Ecuador demonstrates initiatives to deploy smart metering systems and digitize distribution networks. Similar to this, the authorized transmission project in Rengo by ENGIE Chile shows rising investment in strong, contemporary electrical infrastructure, guaranteeing the effective integration of renewable energy sources and the preservation of grid resilience.
Challenges in the Power Equipment Market
Skilled Labor Shortages
One of the biggest obstacles to the expansion and modernization of the power equipment sector is the severe lack of trained workers. The need for highly skilled engineers, technicians, and maintenance staff has increased as a result of the quick technological advancements brought about by the integration of smart grids, renewable energy sources, and digital infrastructure. But there is a skills vacuum since the labor that is now available has not kept up with these changing demands. This scarcity affects project schedules, raises operating expenses, and may jeopardize installation quality and dependability. The difficulty is exacerbated in developing nations by restricted access to specialist training and educational opportunities. Strategic investments in technical education, workforce development, and industry-specific vocational training programs are necessary to address this challenge.
Environmental and Social Concerns
Environmental and social issues frequently arise in large-scale power infrastructure projects, which can cause progress to stall or be delayed. Usually requiring a large amount of land, these projects have the potential to cause ecological degradation, habitat disturbance, and deforestation, particularly in sensitive locations. Communities may also be uprooted during the building of transmission lines, substations, and power plants, which may lead to protests from the public and legal issues. Such opposition may result from worries about long-term environmental effects, damage of cultural sites, or loss of livelihoods. Project approvals are made more difficult by regulatory obstacles and requirements for environmental impact evaluations. In order to reduce these risks and guarantee long-term project profitability and community support, developers must embrace sustainable building methods, conduct open community discussions, and put social responsibility initiatives into place.
United States Power Equipment Market
The ongoing energy shift and the upgrade of old grid infrastructure are driving the growth of the power equipment market in the United States, which is a mature but dynamic industry. The need for sophisticated transmission, distribution, and storage technologies is being driven by the growing integration of renewable energy sources like wind and solar. The requirement for dependable and efficient power equipment is further exacerbated by the drive for electrification in the industrial and transportation sectors. Equipment design and deployment are changing as a result of technological advancements like smart grid systems and digital monitoring tools. Furthermore, both public and private investment are being stimulated by government initiatives that favor sustainable energy and resilient infrastructure. The U.S. market continues to lead the world in implementing cutting-edge and environmentally friendly power equipment solutions, despite supply chain strains and complicated regulations.
United Kingdom Power Equipment Market
Due to the UK's determination to achieve net-zero emissions by 2050, the market for power equipment is expanding significantly. Significant investments in renewable energy infrastructure, such as offshore wind farms, solar power plants, and energy storage systems, have been prompted by this audacious ambition. The need for modern power equipment is further fueled by the government's National Infrastructure and Construction Pipeline, which has an estimated budget of USD 740 billion over 10 years and devotes a sizeable amount to the energy industry. Furthermore, the UK's drive to electrify a number of areas, including heating and transportation, calls for the adoption of smart grid technology and the upgrading of grid infrastructure.
The industry is significantly shaped by technological developments, with new power quality devices including harmonic filters, voltage regulators, and uninterruptible power supply (UPS) improving grid stability and dependability. The demand for reliable power equipment is also rising as a result of the increased use of electric cars (EVs) and the development of EV charging infrastructure. Notwithstanding these encouraging advancements, the sector nonetheless confronts difficulties, including as limited supply chains and the requirement for experienced workers to assist the installation and upkeep of cutting-edge power systems. Maintaining the momentum of the UK's transition to a resilient and sustainable energy future requires addressing these issues.
China Power Equipment Market
China leads the world market for power equipment because to strong government regulations, cutting-edge technology, and extensive infrastructural development. The country's quick development of renewable energy sources, like as solar and wind, demonstrates its dedication to the energy transition. This change calls for large expenditures on cutting-edge power technology, including energy storage devices, smart grids, and highly efficient turbines. China's industrial prowess allows it to manufacture and export a vast array of power equipment, impacting worldwide prices and supply chains. International trade conflicts that affect export prospects and overcapacity in specific market segments are some of the market's obstacles, though. With a persistent focus on innovation and sustainability, China's power equipment industry continues to be a pillar of its industrial strategy in spite of these challenges.
Saudi Arabia Power Equipment Market
Saudi Arabia's Vision 2030 project, which seeks to diversify energy sources and lessen reliance on oil, is propelling the country's power equipment market's notable expansion. Advanced power equipment development and deployment are required as a result of the government's resolve to reaching net-zero carbon emissions by 2060, which has sparked investments in renewable energy projects like solar and wind power. Large-scale projects like solar power plants and combined-cycle gas-fired power plants with carbon capture capabilities are being made possible by partnerships with foreign partners like Spain's Tecnicas Reunidas and China's China Energy Engineering. These programs are helping to update the nation's electrical system and increase its ability to supply the nation's expanding energy needs.
In order to guarantee grid stability and dependability, the industry is also seeing developments in power quality equipment, such as voltage regulators, harmonic filters, and uninterruptible power supply (UPS). The need for reliable power equipment is further fueled by the growing number of electric cars (EVs) and the development of EV charging infrastructure. Manufacturers must comply with strict regulatory frameworks and compliance criteria imposed by the Saudi Energy Efficiency Center (SEEC) in order to fulfill energy performance standards, which is one of the industry's problems. Notwithstanding these obstacles, the Saudi Arabian market for power equipment is expected to develop further because to advantageous regulations, cutting-edge technology, and strategic alliances.
Equipment Type - Market breakup in 6 viewpoints:
Power Generation Source - Market breakup in 9 viewpoints:
End-User Market breakup in 3 viewpoints:
Application - Market breakup in 3 viewpoints:
Country - Market breakup in 25 viewpoints:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa