The latest edition of the T&D report highlights the contrast between the falling value seen in mature and industrialised countries with that of developing nations and those in Eastern Europe which are experiencing significant market growth.
With 38% of the market, Asia is emerging as the largest sector with a market valued at some $30 billion over the year. Europe follows with a 24% market share worth $19 billion with the US at around half this with a 13% market share worth $10 billion.
Both the US and Japan have witnessed a significant drop in T&D capital expenditure over recent years, a result of the economic slow down in Japan and the liberalised power market in the US which limits returns on monopoly assets such a transmission lines.
However, the report suggests that continued construction of generation assets in the face of rising demand is leaving the T&D sector in the US facing a major investment deficit leaving the country facing reliability issues.
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