Abstract
The U.S. electrical grid must be upgraded, and there is a strong debate about the characteristics of the next-generation electrical network. However, slow growth of electricity usage, among other factors, means that the demand for transmission and distribution (T&D) equipment is growing slowly also. Within the T&D equipment sector, switchgear and transformers are still the dominant segments, but sales of meters are growing rapidly in response to increased demands for security, safety, and connectivity. Six firms hold about 40 percent of the T&D equipment market share, selling to electric utilities, nonutility industrial firms, commercial firms, and residential customers. Foreign trade is also important in this industry, with the United States running a substantial trade deficit.
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