Power Transmission Component Market Set for Steady Growth at 6.8% CAGR
Power Transmission Component Market Gains Momentum as Global Grids Enter a New Upgrade Cycle A Market Built on Reliability and Long-Term Value Power transmission components quietly support almost every aspect of modern life. From homes and hospitals to factories and data centers, these components ensure electricity moves safely and efficiently from generation points to end users. In 2023, the global Power Transmission Component Market was valued at US$ 92.88 billion, reflecting the scale and importance of this foundational industry. As grid infrastructure ages and energy demand continues to rise, the market is expected to grow steadily at a CAGR of 6.8 percent over the forecast period. Unlike fast-moving consumer technologies, power transmission systems are designed for decades of service. Utilities invest in these components not for short-term gains, but for stability, efficiency, and reduced losses over time. This long-term mindset is now driving renewed investment across...