Power grids are used to deliver electricity from power plants to houses and businesses across the country. It is at the core of any nation to transport electricity throughout the nation, which is enabled by power grid companies and infrastructure. It is a vast network of power generation, transmission, and delivery with proper power management for consumers consisting of infrastructure such as power stations, transmission lines, and distribution lines.
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The power grid industry has seen a positive upward trend owing to rising electricity consumption, which is contributed by the increasing population, expansion of electricity infrastructure in remote locations, increasing usage of electronic devices, and rapid urbanization. For instance, according to World Energy Outlook Report 2022 by International Energy Agency (IEA), global electricity demand rises by 5,900 terawatt-hours (TWh) in the Stated Policies Scenario (STEPS) and over 7,000 TWh in the Announced Pledges Scenario (APS) by 2030, equivalent to adding the current level of demand in the US and the EU. In advanced economies, transport is the largest contributor to increased electricity demand as the market share of electric cars rises from about 8.0% in 2021 to 32.0% in the STEPS and almost 50.0% in the APS by 2030. In emerging markets and developing economies, population growth and rising demand for cooling contribute to increasing electricity demand. In China, air conditioner ownership will expand by around 40.0% from current levels in the STEPS and APS by 2030.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Power Grid Market by Component
- Cables
- Variables Speed drives
- Transformers
- Switchgear
Global Power Grid Market by Power Source
- Conventional Power
- Renewable Power
- Nuclear Power
- Hybrid Power
Global Power Grid Market by Application
- Generation
- Transmission
- Distribution
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Eaton Corp
- Fuji Electric Co. Ltd.
- Havells India Ltd.
- Hubbell Inc.
- LS ELECTRIC Co. Ltd
- Mitsubishi Electric Corp.
- NR Electric Co., Ltd.
- NKT AS
- Powell Industries, Inc.
- Prysmian S.p.A
- Rockwell Automation Inc.
- Sécheron SA
- Southwire Company, LLC
- Sumitomo Electric Co. Ltd.
- Toshiba Energy Systems & Solutions Corp
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power grid market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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