Power Grid System Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00132055
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
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Market Snapshot

CAGR:7.9
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.9
Energy & Power-companies
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Report Overview

Power Grid System Market Analysis By Application (Electricity Distribution, Renewable Energy Integration, Industrial Facilities, Others), By Type (AC Grid Systems, DC Grid Systems), and By Region Forecast to 2032:

The Power Grid System Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing demand for reliable electricity distribution, the growth of renewable energy integration, and advancements in power grid technologies.

Power Grid System Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Power Grid System Market is the increasing demand for reliable and efficient electricity distribution. Power grid systems are essential for transmitting electricity from generation sources to distribution networks and end-users. As urbanization and industrialization continue, the need for robust power grid infrastructure becomes more pronounced.

Furthermore, the growth of renewable energy integration, including wind and solar power, has led to an increased need for advanced power grid systems. These systems play a crucial role in integrating intermittent renewable energy sources into the grid, ensuring a stable and efficient supply of clean energy.

Trends:

An emerging trend shaping the Power Grid System Market is the adoption of high-voltage direct current (HVDC) grid systems. HVDC technology offers advantages such as lower transmission losses, efficient long-distance transmission, and improved grid stability. It is particularly suitable for interconnecting grids and integrating renewable energy sources.

Additionally, advancements in power grid components and smart grid technologies are enhancing the efficiency and resilience of power grid systems. Smart grid solutions enable real-time monitoring and control of grid operations, optimizing energy distribution and reducing downtime.

Restraints:

One of the key challenges hindering the growth of the Power Grid System Market is the high initial capital investment required for the development and modernization of power grid infrastructure. Building and upgrading power substations, transmission lines, and grid control systems involve significant upfront costs.

Moreover, regulatory and environmental considerations can present obstacles to power grid projects. Balancing the need for grid expansion with environmental sustainability and community concerns requires careful planning and compliance with regulations.

Power Grid System Market Segmentation By Application:

  • Electricity Distribution: Power grid systems are fundamental for distributing electricity to residential, commercial, and industrial consumers efficiently.
  • Renewable Energy Integration: Power grids play a crucial role in integrating renewable energy sources into the existing energy infrastructure.
  • Industrial Facilities: Industrial facilities often require high-capacity power grid connections to meet their energy demands reliably.

Power Grid System Market Segmentation By Type:

  • AC Grid Systems: Alternating current (AC) power grid systems are commonly used for electricity distribution within grids.
  • DC Grid Systems: Direct current (DC) power grid systems, including HVDC technology, are employed for efficient long-distance transmission and interconnections between grids.

Regional Overview:


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North America is poised to be a key contributor to the global Power Grid System Market, accounting for approximately 38% of the market's growth during the forecast period. The region's aging grid infrastructure and the need to accommodate renewable energy sources drive the demand for power grid modernization projects. Investments in grid resilience and expansion further stimulate market growth.

Asia-Pacific is another significant region in the market, with rapid urbanization and industrialization driving electricity demand. Governments in this region are investing in expanding and upgrading their power grid networks to meet growing energy needs and support economic development.

Power Grid System Market Customer Landscape:

The Power Grid System Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on penetration and includes key purchase criteria and price sensitivity drivers to assist companies in formulating effective growth strategies.

Major Power Grid System Market Companies:

Companies in the Power Grid System Market are employing diverse strategies such as research and development, partnerships, mergers, acquisitions, and project collaborations to strengthen their market presence.

Example companies include:

  1. Siemens Energy: Siemens Energy offers a range of power grid solutions, including HVDC technology, to support efficient electricity distribution.
  2. ABB Group: ABB provides advanced power grid equipment and solutions, contributing to grid reliability and sustainability.
  3. General Electric Company: GE specializes in power grid technologies and smart grid solutions to enhance energy distribution efficiency.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • Hitachi ABB Power Grids
  • Mitsubishi Electric Corporation
  • Nexans SA
  • Prysmian Group
  • Crompton Greaves Limited (CG Power and Industrial Solutions Limited)
  • LSIS Co., Ltd.
  • NKT A/S
  • Zhejiang Chint Electrics Co., Ltd.
  • TBEA Co., Ltd.
  • China XD Electric Co., Ltd.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on focus, dominance, and strength.

Segment Overview:

The Power Grid System Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Electricity Distribution
    • Renewable Energy Integration
    • Industrial Facilities
    • Others
  • Type Outlook (USD Million, 2019 - 2032):
    • AC Grid Systems
    • DC Grid Systems
    • Others
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL POWER GRID SYSTEM MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. POWER GRID SYSTEM MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Power Grid System Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. POWER GRID SYSTEM MARKET BY Offshore Power INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Captive Generation

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Wind Power

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. POWER GRID SYSTEM MARKET BY Components INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Cables

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Variable Speed Drives

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4. Transformers

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.5. Switchgears

    6.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. POWER GRID SYSTEM MARKET REGIONAL OUTLOOK

7.1. Power Grid System Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Power Grid System Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Power Grid System Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Power Grid System Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Power Grid System Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Power Grid System Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. FMC Technologies Inc. (U.S.)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. ABB Ltd (Switzerland)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. General Electrics Co. (U.S.)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Aker Solutions ASA (Norway)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Cameron International Corp (U.S)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Siemens AG (Germany)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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