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Transmission and Distribution (T&D) Equipment Market to Grow by USD 82.9 Billion (2025-2029), Increased Power Generation Demand Boosting Market, AI Impact – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global transmission and distribution (T and D) equipment market size is estimated to grow by USD 82.9 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 5.3%  during the forecast period. Increased demand for power generation is driving market growth, with a trend towards growing focus on energy efficiency. However, increase in distribution generation  poses a challenge. Key market players include ABB Ltd., Bharat Heavy Electricals Ltd., Daihen Corp., Eaton Corp., Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Corp., Nexans SA, Prysmian SpA, S and C Electric Co., Schneider Electric SE, Siemens AG, SPX Technologies Inc., TBEA Co. Ltd., Toshiba Corp., Wilson Power Solutions Ltd., and Wilson Transformer Company Pty Ltd..

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Transmission And Distribution (T And D) Equipment Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 5.3%

Market growth 2025-2029

USD 82.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.9

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 54%

Key countries

China, US, India, Japan, South Korea, Germany, UK, Canada, France, and Italy

Key companies profiled

ABB Ltd., Bharat Heavy Electricals Ltd., Daihen Corp., Eaton Corp., Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hubbell Inc., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Corp., Nexans SA, Prysmian SpA, S and C Electric Co., Schneider Electric SE, Siemens AG, SPX Technologies Inc., TBEA Co. Ltd., Toshiba Corp., Wilson Power Solutions Ltd., and Wilson Transformer Company Pty Ltd.

Market Driver

The Transmission and Distribution (T&D) Equipment Market is witnessing continuous development as the demand for steady electricity supply increases. Key components of this market include switchgear, substations, circuit breakers, conductors, feeder lines, fuses, insulators, switches, transformers, and cables. Renewable energy sources like solar, wind, hydroelectric power, and geothermal energy are driving the market’s growth. Schneider Electric Group is a leader in this sector, providing solutions for energy management and automation. Capital expenditures on infrastructure development, including transmission networks and distribution systems, are on the rise. Smart grids, digitalization, and clean energy are trending, with an emphasis on flexible power cables and transformers. The power sector is integrating cutting-edge processes to meet energy demand, reduce power outages, and improve power efficiency. Fossil fuel energy is being replaced by emission-free energy sources. Urbanization and industrial expansion are boosting the market, with a focus on electric vehicle infrastructure and smart appliances. Skilled technical labor is essential for the installation and maintenance of T&D equipment. Infrastructure spending on interconnected lines, substations, and underground cables is crucial for the development of the electrical network. The direct selling industry and e-commerce are indirect channels for the distribution of electrical appliances. Moments like power generation and energy transmission are critical moments for the T&D Equipment Market. 

The Transmission and Distribution (T&D) equipment market plays a crucial role in minimizing energy losses throughout the power grid. These losses, commonly referred to as T&D losses, occur due to thermal effects caused by electrical resistivity and conductivity of transmission materials. In countries with outdated electrical infrastructure, these losses can be significant. To mitigate these losses, power is stepped up for long-distance transmission and then stepped down to usable voltage for commercial and residential end-users. Energy efficiency is enhanced by minimizing these losses, ensuring a more efficient energy chain from production to consumption. 

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Market Challenges

The Transmission and Distribution (T&D) Equipment Market faces challenges in ensuring a steady electricity supply for the growing energy demand. Key components like switchgear, substations, circuit breakers, conductors, and insulators play crucial roles in the electrical network. However, power outages due to aging infrastructure and increasing energy demand pose significant challenges. Capital expenditures for upgrading transmission networks, distribution systems, and integrating renewable energy sources are essential. Companies like Schneider Electric Group are leading the way with continuous development of smart grids, flexible power cables, and transformers. The power sector must adapt to digitalization, renewable energy sources, and e-commerce trends. Urbanization and industrial expansion require infrastructure spending on interconnected lines, underground cables, and electric vehicle infrastructure. Skilled technical labor is essential to maintain and upgrade the electrical network. The market must address these challenges to meet the demands of residential, commercial, and industrial consumers for clean, efficient, and reliable energy.The Transmission and Distribution (T&D) Equipment Market is experiencing significant growth due to the increasing adoption of distributed generation (DG) technologies. DG refers to small-scale electricity generation at the point of consumption, primarily through solar PV systems and renewables. This trend is gaining traction in developed countries like the US and Europe, where institutions, businesses, and households are investing in decentralized power systems. The shift towards DG is driven by the decreasing cost of energy systems and government support, enabling end-users to become prosumers – entities that produce and consume power. This transformation is integral to the power system in developed nations, as DG becomes an increasingly important part of the energy production and consumption landscape.

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Segment Overview 

This transmission and distribution (t and d) equipment market report extensively covers market segmentation by  

TypePower CablesSwitchgearsTransformersInstallation SitesOverheadUndergroundGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

1.1 Power cables-  The power cables segment holds the largest market share in the global Transmission and Distribution (T and D) equipment market due to numerous grid expansion and interconnection projects, increasing urban population, and the growing importance of electricity as a necessity. Renewable energy sector’s significant expansion, driven by countries’ carbon emission reduction targets and the shift away from fossil fuels, is a major growth factor. Offshore wind power, which generates more power with the same number of turbines than onshore wind plants, is gaining popularity. In 2023, approximately 11 GW of new offshore wind capacity was installed, bringing the total global capacity to around 75 GW, marking a 24% increase from the previous year. China is a leading player in this sector, with over 400 GW of new offshore wind capacity anticipated to be added in the next decade, primarily in emerging markets like APAC and Latin America. The expansion of offshore wind projects will increase the demand for power cables during the forecast period.

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Research Analysis

The Transmission and Distribution (T&D) Equipment Market encompasses a range of technologies and solutions essential for the reliable and efficient delivery of electricity from power plants to end-users. This market includes equipment for power system planning, protection, and analysis, as well as grid modernization, demand response management, and distributed generation. Power electronics, smart grid technology, and sustainable energy solutions are key components, along with electricity infrastructure investment and renewable energy integration. High-voltage engineering, power system automation, and electrical safety regulations are also critical areas of focus. Energy efficiency programs, electricity market operations, transmission line construction, and energy storage solutions are other important aspects of the market. The T&D Equipment Market is driven by the energy transition, renewable energy sources, and the development of microgrids and smart offices. Additionally, the market includes electrical safety, electrical distribution equipment, power grid infrastructure, energy management systems, renewable energy investment, solar energy, and energy consulting services.

Market Research Overview

The Transmission and Distribution (T&D) Equipment Market plays a crucial role in the transportation of electrical energy from power generation sources to end-users. This market encompasses various components such as switchgear, substations, circuit breakers, conductors, feeder lines, fuses, insulators, switches, transformers, cables, and smart appliances. T&D equipment is essential for maintaining a steady electricity supply in the electrical network, minimizing power outages, and enhancing power efficiency. Capital expenditures on infrastructure development and the integration of renewable energy sources like solar, wind, hydroelectric power, and geothermal energy are driving the continuous development of the T&D Equipment Market. The market caters to various sectors, including electric utilities, residential, industrial expansion, and urbanization. The T&D Equipment Market includes components like transformers, power cables, and smart grids, which facilitate the transmission and distribution of electricity efficiently and reliably. Factors like digitalization, clean energy, and infrastructure spending are shaping the future of the market. The increasing demand for electricity, especially from electric vehicles, and the need for flexible power cables and underground cables are also influencing market trends. The market is witnessing the integration of cutting-edge processes, such as the use of disposable income for capital expenditures on electrical energy and the adoption of e-commerce and the direct selling industry for distributor-managed inventory. The T&D Equipment Market is expected to lead the power sector’s transformation towards emission-free energy, smart grids, and interconnected lines.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePower CablesSwitchgearsTransformersInstallation SitesOverheadUndergroundGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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EPWK HOLDINGS LTD. Announces Pricing of Initial Public Offering

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XIAMEN, China, Feb. 6, 2025 /PRNewswire/ — EPWK HOLDINGS LTD. (the “Company”) (NasdaqGM: EPWK), a company that connects businesses with great talents through innovative and efficient cloud-sourcing platforms, announced the pricing of its initial public offering (the “Offering”) of 2,750,000 Class A ordinary shares at a public offering price of $4.10 per share. The Class A ordinary shares start trading on Nasdaq Global Market under the ticker symbol “EPWK” on February 6, 2025.

The Company will receive aggregate gross proceeds of $11.275 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an option, exercisable within 30 days after the closing of the Offering, to purchase up to an additional 412,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.

Proceeds from the Offering will be used for business development and marketing, research and development, exploration of new product and service offerings and the creation of an online global design center, and general corporate purposes and working capital.

Cathay Securities, Inc. acted as the representative of the underwriters, with Revere Securities LLC acting as co-underwriter (collectively, the “Underwriters”) for the Offering. VCL Law LLP served as counsel to the Company. Winston & Strawn LLP served as counsel to the Underwriters.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1, as amended (File No. 333-269657) (the “Registration Statement”), previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 3, 2025. The Offering was made only by means of a prospectus, forming a part of the Registration Statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About EPWK HOLDINGS LTD.

The Company connects businesses with outstanding talent through an innovative and efficient integrated crowdsourcing platform, providing creative transaction services for small and medium-sized enterprises and suppliers. The Company was founded by Huang Guohua, former chief reporter of Fujian Daily Press Group, and conducts its operations through its subsidiaries and contractual arrangements with the variable interest entity in China. For more information, please visit the Company’s website: www.epwk.com

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Investor Relations
EPWK HOLDINGS LTD.
Phone: +86 0592-5978725
Email: chenyanjun@epwk.com

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SOURCE EPWK HOLDINGS LTD.

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SIMONA AMERICA Group Advances Sustainability Commitments with SBTi Validation As Part of SIMONA AG

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Reduction of CO2 emissions by 42% by 2030 (Scope 1 and 2)SIMONA’s contribution to restricting global warming to 1.5 degreesSignificant milestone in the execution of SIMONA’s sustainability strategy

ATLANTA, Feb. 6, 2025 /PRNewswire/ — SIMONA AMERICA Group, a subsidiary of SIMONA AG, is proud to announce that the company’s ambitious greenhouse gas (GHG) reduction targets have been officially validated by the Science Based Targets initiative (SBTi). This milestone underscores SIMONA’s commitment to reducing its environmental footprint and contributing to the global effort to limit temperature rise to 1.5 degrees Celsius.

SIMONA first signed up to the Science Based Target initiative (SBTi) at the beginning of 2024. The rationale behind this move was to ensure an effective reduction in the company’s carbon footprint, while also making a positive contribution to global climate change mitigation. In joining the SBTi, SIMONA has taken responsibility for the environment and set itself long-term goals that are both quantifiable and based on scientific principles.

As part of these science-based targets, SIMONA has pledged to reduce Scope 1 and Scope 2 emissions by 42% in absolute terms by 2030, using 2022 as the baseline year. Additionally, the company has committed to reducing Scope 3 emissions from purchased goods and services by 51.6% per ton of manufactured product within the same timeframe. The SBTi has recognized these targets as ambitious and aligned with the latest climate science and objectives of the Paris Agreement.

“The SBTi’s confirmation of our climate targets is a significant achievement within our sustainability strategy. It illustrates that we are on the right track when it comes to making a genuine contribution to global climate change mitigation. Working closely with our partners and customers, we are doing everything in our power to achieve our goals in a determined and effective manner,” said Johannes Kappler, Head of Sustainability at SIMONA AG.

At SIMONA AMERICA Group, sustainability remains a top priority across all facilities, operations, and product offerings. Through the increased use of renewable energy, process efficiency improvements, and material innovation—including the expansion of the TERREFORM® line for the aerospace industry and the installation of more than 3,300 solar panels at the Archbald, PA facility—SIMONA AMERICA Group is actively contributing to the company’s broader carbon reduction goals.

“SIMONA has started its sustainability journey much like every other company—by gathering a baseline for carbon accounting,” said Autumn Werner, Sustainability Manager for SIMONA AMERICA Group. “However, with SBTi validation, we have also added accountability to ensure that our efforts lead to real emission reductions while supporting the global goal of restricting warming to 1.5 degrees.”

Werner further emphasized the importance of industry-wide collaboration in sustainability: “SIMONA’s work towards becoming sustainable doesn’t just stop at products—it extends to real efforts across all of our facilities to drive meaningful emission reductions. The SBTi validation keeps us on track and aligns us with the many other companies committed to measurable, science-based climate action.”

To achieve these ambitious targets, SIMONA AMERICA Group is implementing specific initiatives, including transitioning to green electricity, optimizing production processes, and increasing the use of sustainable raw materials. Additionally, efforts to integrate post-industrial and customer waste into new products further reinforce the company’s circular economy approach.

The Science Based Targets initiative (SBTi) was established in 2015 as a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wildlife Fund (WWF). It provides companies with the framework to set rigorous emissions reduction targets in line with the latest climate science.

As SIMONA AMERICA Group continues to advance its sustainability strategy, the company remains committed to meaningful, science-backed actions that drive measurable impact for the environment and the industries it serves.

About SIMONA AMERICA Group

SIMONA AMERICA Group is a diversified manufacturer of high-quality thermoplastic products designed to provide innovative solutions and world-class customer service throughout the United States. As a subsidiary of SIMONA AG, the company is dedicated to sustainability, excellence, and advancing material technologies across multiple industries.

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SOURCE SIMONA AMERICA Group

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Walter P Moore receives ACEC California top award for CAA ICON’s Intuit Dome

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SACRAMENTO, Calif., Feb. 6, 2025 /PRNewswire/ — Last night, the American Council of Engineering Companies of California (ACEC California) announced that Walter P Moore has won the prestigious Golden State Award for their work on the Intuit Dome located in Inglewood, California.

Intuit Dome realized owner Steve Ballmer’s vision for the NBA Los Angeles Clippers to play in an iconic venue within a complex that houses all team functions under a single roof. The 18,000-seat arena is the NBA’s most environmentally friendly arena and benefits the Inglewood community year-round. The venue anchors a 1.14 million-square-foot facility including state-of-the-art practice and training facilities, team offices, fan gathering spaces, and indoor and outdoor basketball courts open to the public. The distinctive diagrid shell roof, covered in diamond-shaped ETFE and PTFE fabric panels, is designed to resemble a basketball net, making Intuit Dome stand out from other NBA arenas.

Walter P Moore’s team of structural, enclosure, seismic, and construction engineering specialists blended their expertise to optimize the roof geometry, connections, and panel layouts to achieve the goals of strength, beauty, and practicality. Seismic safety was a concern because the site is 1.25 miles from the Newport-Inglewood Fault.

The team created an elegant and ingenious solution that allows the light diagrid shell to behave independently from the much stiffer main arena structure that supports it during a seismic event. They connected the diagrid shell to the arena roof at its top and then laterally supported it at node points down its height with innovative toggle-brace connections. The toggle-braces provide lateral and gravity support while allowing the shell to “swish like a hula skirt” around the more rigid brace frame structure. Intuit Dome also features an enormous one-of-a-kind “Halo” board, a one-million pound, 360-degree, double-sided video board with retractable end pieces that are suspended from the roof, along with state-of-the-art rigging and catwalk systems that enhance the venue’s capabilities.

Intuit Dome is a fully electric facility with sufficient solar panels and batteries to power the arena for an entire concert or basketball game. It is the first NBA arena to achieve LEED Platinum certification under LEED v4. Walter P Moore reduced embodied carbon in the concrete by over 20 percent by collaborating with the concrete supplier to obtain supply-chain-specific Environmental Produce Declarations for all concrete mixes; as a result, the concrete is 50 percent more energy efficient than required by the California Green Building Code.

The complex opened on budget and three months ahead of schedule in July 2024.

Congratulations, Walter P Moore, for capturing ACEC California’s 2025 Golden State Award!

Photographs of all Engineering Excellence Award-winning projects can be found at: 2025 Engineering Excellence Award Winners – American Council of Engineering Companies of California

About Walter P Moore
Walter P Moore is an international company of engineers, innovators, and creative people who solve some of the world’s most complex structural and infrastructure challenges. Providing structural, diagnostics, civil, traffic, parking, transportation, enclosure, technology consulting, and construction engineering services, they design solutions that are cost- and resource-efficient, forward-thinking, and help support and shape communities worldwide. Founded in 1931 and headquartered in Houston, Texas, Walter P Moore’s 900+ professionals work across 24 U.S. offices and seven international locations. For more information, visit www.walterpmoore.com, or follow Walter P Moore on LinkedIn, X (Formerly Twitter), Facebook or Instagram.

About ACEC California
ACEC California is a 70+ year-old, nonprofit association of private consulting engineering and land surveying firms. As a statewide organization, we are dedicated to enhancing the consulting engineering and land surveying professions, protecting the general public, and promoting use of the private sector professionals in the growth and development of our state. Follow us on Social Media: Instagram | Facebook | X (Formerly Twitter) | LinkedIn 

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SOURCE American Council of Engineering Companies, California

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