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US demand to climb 4.8% annually through 2017

US demand for electric transmission and distribution (T&D) equipment is forecast to climb 4.8 percent annually to $30.4 billion in 2017, accelerating from the 2007-2012 period, when product sales in every major market for these products slowed. The rising utilization of renewable energy sources in electricity generation will drive market growth, as new installations will require a significant amount of equipment to transmit power along the electric grid. Independent power producers’ (IPPs) and nonutility generators’ (NUGs) expanding share of electricity generation will also stimulate gains since -- similar to the use of renewable energy sources -- connecting new operations to the grid will require a significant investment in electric T&D equipment. In addition, the continued adoption of “smart” technologies will provide growth opportunities as the electric grid is updated with efficiency and reliability in mind.

Electric utility market to remain dominant

Historically, electric utilities have been the largest customers for electric T&D equipment, and this will continue to be true. Despite below-average growth, the result of a deceleration in electric utility capital expenditures, this market will represent over half of all product demand in 2017. However, the industrial and nonutility generator market will post larger gains in percentage terms, supported by the growing importance of IPPs and NUGs. The greatest sales increases in this sector will be for switchgear products such as power circuit breakers and power switching equipment. Advances will reflect heavy investment by these firms to protect sensitive industrial machinery and connect new facilities to the grid. In 2017, industrial and nonutility generator demand will account for one-third of all electric T&D equipment sales.

Residential market to be fastest growing segment

The residential market is expected to post the greatest gains in percentage terms through 2017 after struggling between 2002 and 2012. Sales advances will be spurred by a marked rebound in residential construction expenditures and regulatory changes requiring increased use of arc-fault circuit interrupters. The commercial market is also projected to record above-average growth as commercial construction activity recovers and use of sensitive electronics like computers and security systems continues to climb.

Government and institutional product demand will rise at the slowest pace of any major market due to ongoing efforts to reduce federal budget deficits.

Electric meters, nonutility transformers to pace gains

Electric meters and nonutility transformers are expected to register the fastest sales increases of any electric T&D equipment product. The ongoing development of the “smart grid” and related demand for “smart meters” (which cost about twice as much as traditional electric meters) will help spur meter value gains. The rising popularity of distributed generation and net metering programs -- which require meters to read electricity inflows and outflows -- as well as the labor cost savings associated with usage of smart meters, will also fortify demand. Other products that will experience sizable sales growth through 2017 include molded case circuit breakers, nonutility transformers, and power circuit breakers, supported by expansion of the industrial and nonutility generator market.

Study coverage

Details of these and other findings are presented in Electric Transmission & Distribution Equipment, an upcoming Freedonia industry study priced at $5100. It offers historical demand data for 2002, 2007 and 2012, plus forecasts for 2017 and 2022 by product and market. The study also assesses market environment factors, evaluates company market share, and profiles 35 US industry competitors.

Table Of Contents

US Electric Transmission and Distribution Equipment Market
TABLE OF CONTENTS

INTRODUCTION x

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Economic Environment 6
Fixed Investment 9
Construction Outlook 12
Electricity Generation 16
Generator 18
Fuel Type 19
Electric Generating Capacity 21
Electric Power Transmission and Distribution System 24
Electricity Consumption 26
Electric Power Equipment 28
Historical Market Trends 30
Pricing Trends 33
International Environment 37
World Market 38
US Foreign Trade 41
Imports 44
Exports 47

III. REGULATIONS and TECHNOLOGY 50

General 50
Regulations and Standards 51
Electric Utility Deregulation 51
Wholesale Deregulation 51
Retail Deregulation 54
Growth of Distributed Generation 58
Net Metering 58
Renewable Energy Portfolio Standards 61
Impact on Electric Power Transmission and Distribution
Equipment Markets 65
Environmental 66
Other 70
Technology 72
Smart Grid 73
Arc-Fault Circuit Interrupters 75
Amorphous Core Transformers 76
New Transformer Core Shapes 77
Variable Frequency Transformers 78
Sulfur Hexafluoride Emissions Reductions 79
High Temperature Superconducting Equipment 79
Other 81

IV. PRODUCTS 83

General 83
Switchgear and Switchboard Apparatus 86
Low Voltage Switchgear 90
Metal-Clad and Metal-Enclosed Switchgear 93
Molded Case Circuit Breakers 95
Construction MCCBs 98
Transportation, Electronic, and Other MCCBs 100
Power Circuit Breakers 101
Power Switching Equipment 104
Fuses and Fuse Equipment 106
Duct 110
Switchgear Relays 112
Other 115
Control Panels 117
High Voltage Fuses and Links 117
All Other Types 118
Transformers 118
Power 123
Distribution 130
Single-Phase 135
Three-Phase and Other 136
Specialty 137
High Intensity Discharge Ballasts 139
Instrument Transformers 141
Other Specialty Transformers 142
Nonutility 142
Other Transformers and Parts 145
Pole and Transmission Line Hardware 147
Electric Meters 149
Demand by Technology 152
Demand by Type 154

V. MARKETS 156

General 156
Electric Utilities 159
Electric Utility Outlook 159
Electric Power Transmission and Distribution Equipment 162
Industrial and Nonutility Generators 166
Manufacturing and Nonutility Generation Outlook 166
Electric Power Transmission and Distribution Equipment 171
Commercial Sector 175
Commercial Sector Outlook 176
Electric Power Transmission and Distribution Equipment 178
Residential Sector 181
Residential Sector Outlook 182
Electric Power Transmission and Distribution Equipment 185
Government and Institutions 188
Government and Institutions Outlook 189
Electric Power Transmission and Distribution Equipment 191

VI. INDUSTRY STRUCTURE 194

General 194
Market Share 197
Product Development 201
Manufacturing 205
Marketing and Distribution 208
Cooperative Agreements 210
Mergers and Acquisitions 214
Company Profiles 217
AB Chance, see Hubbell
ABB Limited 218
Acme Electric, see Actuant
Actown-Electrocoil, see Actuant
Actuant Corporation 224
Advance Transformer, see Royal Philips Electronics
Alstom SA 226
American Superconductor Corporation 228
AZZ Incorporated 230
Basler Electric Company 233
Blenkhorn and Sawle, see AZZ
Calvert, see AZZ
Carling Technologies Incorporated 235
Central Electric, see AZZ
Central Moloney Incorporated 236
CG Power Systems USA, see Crompton Greaves
CGIT Systems, see AZZ
Cooper Industries, see Eaton
Crompton Greaves Limited 238
Crompton Instruments, see TE Connectivity
Del City, see Actuant
Eaton Corporation plc 240
Eco Solutions, see Panasonic
EGS Electrical Group, see SPX
Electro-Mechanical Corporation 249
Elster Solutions, see Melrose Industries
Fargo Manufacturing, see Hubbell
Federal Pacific, see Electro-Mechanical
GE Industrial Solutions, see General Electric
General Electric Company 252
GandW Electric Company 258
Hammond Power Solutions Incorporated 260
Hitachi Limited 262
Howard Industries Incorporated 265
Hubbell Incorporated 267
Itron Incorporated 271
Kohler Company 274
Landis+Gyr, see Toshiba
LAPP Insulators Holding GmbH 275
Line Power Manufacturing, see Electro-Mechanical
Littelfuse Incorporated 277
Marinco Electrical Group, see Actuant
Melrose Industries plc 279
Mersen SA 281
Metglas, see Hitachi
Mitsubishi Electric Corporation 283
Nuclear Logistics, see AZZ
Ohio Brass, see Hubbell
OSRAM, see Siemens
Panasonic Corporation 285
Pedersen (EA), see Eaton
Philips Lighting, see Royal Philips Electronics
Powell Industries Incorporated 287
Prolec GE Internacional, see General Electric
Royal Philips Electronics NV 289
SandC Electric Company 291
Schneider Electric SA 294
Sensus USA Incorporated 298
Siemens AG 299
SPX Corporation 303
TE Connectivity Limited 307
Thomas and Betts, see ABB
Toshiba Corporation 309
Universal Lighting Technologies, see Panasonic
Waukesha Electric Systems, see SPX
Other Companies Mentioned in Study 313



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators 9
2 Nonresidential Fixed Investment Expenditures 12
3 Construction Expenditures 16
4 Electricity Generation by Generator and Fuel Type 17
5 Electric Generating Capacity 23
6 Electricity Demand by End User 27
7 Electric Power Equipment Demand 30
8 Electric Transmission and Distribution Equipment Market,
2002-2012 32
9 Electric Transmission and Distribution Equipment Pricing
Deflators 36
10 World Electric Transmission and Distribution Equipment
Demand 41
11 International Trade in Electric Transmission and Distribution
Equipment 44
12 US Electric Transmission and Distribution Equipment Imports
by Source 46
13 US Electric Transmission and Distribution Equipment Exports
by Destination 48

SECTION III -- REGULATIONS and TECHNOLOGY

1 Overview of State Renewable Energy Portfolio Standards 64

SECTION IV -- PRODUCTS

1 Electric Transmission and Distribution Equipment Supply
and Demand 85
2 Switchgear and Switchboard Apparatus Supply and Demand 89
3 Low Voltage Switchgear Supply and Demand 92
4 Metal-Clad and Metal-Enclosed Switchgear Supply and Demand 95
5 Molded Case Circuit Breaker Supply and Demand 98
6 Construction-Related Molded Case Circuit Breaker Demand 100
7 Power Circuit Breaker Supply and Demand 104
8 Power Switching Equipment Supply and Demand 106
9 Fuse and Fuse Equipment Supply and Demand 110
10 Duct Supply and Demand 112
11 Switchgear Relay Supply and Demand 115
12 Other Switchgear Supply and Demand 116
13 Transformer Supply and Demand 122
14 Power Transformer Supply and Demand 127
15 Distribution Transformer Supply and Demand 135
16 Specialty Transformer Supply and Demand 139
17 Nonutility Transformer Supply and Demand 144
18 Other Transformer and Part Supply and Demand 146
19 Pole and Transmission Line Hardware Supply and Demand 149
20 Electric Meter Supply and Demand 152

SECTION V -- MARKETS

1 Electric Transmission and Distribution Equipment Demand
by Market 158
2 Electric Utility Indicators 162
3 Electric Utility Market for Electric Transmission
and Distribution Equipment 165
4 Industrial and Nonutility Generator Sector Indicators 171
5 Industrial and Nonutility Generator Market for Electric
Transmission and Distribution Equipment 174
6 Commercial Indicators 177
7 Commercial Market for Electric Transmission and Distribution
Equipment 180
8 Residential Indicators 185
9 Residential Market for Electric Transmission and Distribution
Equipment 187
10 Government Expenditures and Investment 190
11 Government and Institutional Market for Electric Transmission
and Distribution Equipment 192

SECTION VI -- INDUSTRY STRUCTURE

1 Electric Transmission and Distribution Equipment Sales
by Company, 2012 196
2 Capital Spending Patterns: Selected Electric Transmission
and Distribution Equipment Manufacturers 207
3 Selected Cooperative Agreements 212
4 Selected Acquisitions and Divestitures 216



LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Electric Power Transmission and Distribution System 25
2 Electric Transmission and Distribution Equipment Market,
2002-2012 33
3 Electric Transmission and Distribution Equipment Pricing
Patterns, 2002-2022 36
4 US Electric Transmission and Distribution Equipment Imports
by Source, 2012 47
5 US Electric Transmission and Distribution Equipment Exports
by Destination, 2012 49

SECTION III -- REGULATIONS and TECHNOLOGY

1 Status of Retail Electric Utility Deregulation, 2012 57
2 Net Metering Customers, 2002-2012 61

SECTION IV -- PRODUCTS

1 Electric Transmission and Distribution Equipment Demand
by Type, 2002-2022 86
2 Switchgear and Switchboard Apparatus Demand by Type, 2012 90
3 Transformer Demand by Type, 2012 123

SECTION V -- MARKETS

1 Electric Transmission and Distribution Equipment Demand
by Market, 2002-2022 158
2 Electric Utility Market for Electric Transmission
and Distribution Equipment by Type, 2002-2022 165
3 Industrial and Nonutility Generation Market for Electric
Transmission and Distribution Equipment by Type, 2002-2022 175
4 Commercial Market for Electric Transmission and Distribution
Equipment by Type, 2002-2022 181
5 Residential Market for Electric Transmission and Distribution
Equipment by Type, 2002-2022 188
6 Government and Institutional Market for Electric Transmission
and Distribution Equipment by Type, 2002-2022 193

SECTION VI -- INDUSTRY STRUCTURE

1 Electric Transmission and Distribution Equipment US Market
Share by Company, 2012 198

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