Contact: Hassan Zaheer, Power Technology Research, Germany
Press Release Date: 25th November 2020
Impact of Covid-19 on Power Grid Equipment Market
- According to the June 2020 Global Economic Prospects report by the World Bank, the global economy (in terms of GDP) is expected to contract by 5.2% in 2020
- The effects of this decline in Global GDP are far reaching and have severely impacted the T&D market with a -5.5% dip in 2020.
- Starting with a brief overview of the effects of Covid-19 on the Global economy on a larger scale, the report dives into specifically reporting on the impact of Covid-19 on the T&D market regionally for EMEA, APAC and the Americas focusing on key countries.
- Focus is on quantitative analysis of the percentage impact of the pandemic on 2020 market and the expected recovery pattern in 2021.
Munich, Germany – 25th November 2020
This report encompasses an overall analysis of the impact that Covid-19 will have on the power grid market of different economies around the world. The influence of Covid-19 has been multi-dimensional, intricate, and far-reaching globally. Different organizations gauged its impact on the global economy, but the analysis has been somewhat differing and divergent. Therefore, PTR has brought all the expert opinions from various organizations under one umbrella to understand the impact of Covid-19 holistically, not only on the global economy but also on individual key markets. It is of paramount importance that the countries be analyzed separately since the impact of Covid-19 has been different in different countries.
Also, it is crucial to recognize that the impact on the global economy will trickle down to the energy sector, particularly the power grid market. For that, PTR has vigorously analyzed several important markets in APAC, Americas, and EMEA regions and calculated the impact of Covid-19 on these markets in 2020. Subsequently, PTR has also predicted the recovery that should be expected from them in 2021.
Additionally, a detailed analysis has also been provided on the impact of the pandemic on the application verticals such as generation, utility, automotive, oil and gas, and mining and metals. These industries form an integral part of a country’s economic landscape. Hence, it is important to shine a spotlight on these sectors individually.
Moreover, a deep-dive on the financials of tier-1 Original Equipment Manufacturers such as ABB, Eaton, Schneider Electric, and Siemens has been provided as a standalone section in this report. This data offers a unique perspective on the impact that the pandemic has had on the sales of T&D equipment in Q1, Q2, and Q3 2020 across different regions of the world.
Lastly, the policy response to Covid-19 has also been highlighted in this report. As the second wave of the pandemic continues to infect millions of people across the globe, in turn, adversely impacting the economy of the country, It is of utmost significance to understand the actions taken by respective governments in their efforts to mitigate the impact of Covid-19 in their countries.
The report is divided into 6 parts as follows:
Chapter 1: Covid-19 and the Global Economy
A. Key Global GDP projections and analyst comments.
- Volatile forecasts and uncertainty; predictions postulated from IMF, The world bank, IEA, and Oxford Economics.
- Most vulnerable to least vulnerable economies considering the second wave of Covid-19 worldwide.
B. GDP Impact by Region
Chapter 2: Impact on Power Grid Equipment Market
Covid-19 impact on global power grid equipment market in 2020 and recovery percentage in 2021.
EMEA T&D Sector Impact
- Czech Republic
- United Kingdom
- South Africa
- Saudi Arabia
- Rest of Europe
- Rest of MEA
APAC T&D Sector Impact
- Rest of APAC
Americas T&D Sector Impact
- Rest of Americas
Chapter 3: Application Vertical Overview
Covid-19 Impact on key grid equipment verticals:
- Mining & Metals
- Oil & Gas, Chemicals
- Power Utilities (Transmission & Distribution)
- Power Generation
- Solar Generation
- Wind Generation
- Nuclear Generation
Chapter 4: Supply Side Analysis
Impact of pandemic as reported publicly by key suppliers:
- Schneider Electric
Chapter 5: Policy Responses to Covid-19
Policy responses introduced by Governments – Energy Sector.
- Czech Republic
- Saudi Arabia
- South Africa
- United Kingdom
- United States
Chapter 6: Key Takeaways – Covid’19 impact.
Summary of the report and key insights enveloped in a single fold.
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