Product Code: A14864
The global power grid market is anticipated to reach $413.9 billion by 2032, growing from $241.6 billion in 2022 at a CAGR of 5.6% from 2023 to 2032. The power grid is a network of power lines and associated infrastructure, serving as the crucial component of the modern electrical system. The power grid facilitates the transmission and distribution of electricity from power plants to residences and businesses, spanning vast geographic areas. Comprising the essential components required for electricity generation, transmission, and distribution, the power grid plays a vital role in ensuring a seamless and continuous supply of electrical power.
The growing inclination towards clean energy transition with rising demand for sustainable energy sources is a major factor driving the growth of the power grid market. This surge is notably driven by global efforts to reduce dependence on fossil fuels, subsequently mitigating greenhouse gas emissions. The advent of renewable energy harnessed through the power grid has not only paved the way for sustainable energy but has also spurred investments in the renewable energy sector. Consequently, a decrease in reliance on imported fossil fuels has been witnessed, contributing to the overall growth of the power grid market.
However, the power grid market faces challenges, primarily due to the aging infrastructure and limited storage capacity. The majority of power grids globally exhibit signs of aging, leading to increased maintenance costs and susceptibility to power failures. In addition, the centralized structure of many power grids can lead to inefficiencies, as electricity often needs to travel long distances from power plants to end-users. Also, different regions or countries may have power grids with varying technical standards, hindering seamless energy exchanges and collaborations. The lack of public awareness regarding energy conservation, smart grid technologies, and the benefits of transitioning to a more sustainable and resilient power grid is anticipated to restrain the power grid market size in the upcoming years.
The electrification of the transportation sector, along with the surging adoption of electric vehicles (EVs) worldwide, presents a significant opportunity for the power grid market. The rise in demand for efficient power grid solutions is driven by the growing network of electric vehicle charging infrastructures. Thus, the growing adoption of EVs is poised to contribute substantially to global electricity consumption, with estimates projecting a significant share of vehicle sales being electric in the upcoming years. For instance, the upward trajectory of electric vehicle sales, accounting for 18% of global vehicle sales in 2023, is indicative of the immense opportunity for the power grid market as it navigates the evolving landscape of the energy and transportation sectors.
The COVID-19 pandemic had significant impacts on the power grid market growth as global supply chains were disrupted. The demand for electricity was reduced owing to the closure of manufacturing units, industrial and commercial sectors. In addition, the fluctuations in energy demand posed challenges to grid stability. Grid operators had to manage rapid changes in supply and demand, requiring increased flexibility in grid management strategies. All these factors led to the negative impact on the power grid industry share during the pandemic.
The key players profiled in this report include Siemens AG, ABB Ltd, General Electric Company, Schneider Electric SE, State Grid Corporation of China, Eaton Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, National Grid plc, and NextEra Energy, Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power grid market analysis from 2022 to 2032 to identify the prevailing power grid market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the power grid market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global power grid market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Consumer Buying Behavior Analysis
- Investment Opportunities
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- New Product Development/ Product Matrix of Key Players
- Pain Point Analysis
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Component
- Power Generation
- Transmission Lines
- Distribution Networks
- Consumer Use
By Energy Source
- Solar
- Wind
- Natural Gas
- Coal
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- Siemens AG
- ABB Ltd.
- General Electric Company
- Schneider Electric SE
- State Grid Corporation of China
- Eaton Corporation
- Mitsubishi Electric Corporation
- Toshiba Corporation
- National Grid plc
- NextEra Energy, Inc.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Market Share Analysis
- 3.6. Value Chain Analysis
- 3.7. Regulatory Guidelines
- 3.8. Key Regulation Analysis
- 3.9. Patent Landscape
CHAPTER 4: POWER GRID MARKET, BY COMPONENT
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Power Generation
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Transmission Lines
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Distribution Networks
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Consumer Use
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: POWER GRID MARKET, BY ENERGY SOURCE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Solar
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Wind
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Natural Gas
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Coal
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Others
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
CHAPTER 6: POWER GRID MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Component
- 6.2.3. Market size and forecast, by Energy Source
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Component
- 6.2.4.1.2. Market size and forecast, by Energy Source
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Component
- 6.2.4.2.2. Market size and forecast, by Energy Source
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Component
- 6.2.4.3.2. Market size and forecast, by Energy Source
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Component
- 6.3.3. Market size and forecast, by Energy Source
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Market size and forecast, by Component
- 6.3.4.1.2. Market size and forecast, by Energy Source
- 6.3.4.2. UK
- 6.3.4.2.1. Market size and forecast, by Component
- 6.3.4.2.2. Market size and forecast, by Energy Source
- 6.3.4.3. France
- 6.3.4.3.1. Market size and forecast, by Component
- 6.3.4.3.2. Market size and forecast, by Energy Source
- 6.3.4.4. Italy
- 6.3.4.4.1. Market size and forecast, by Component
- 6.3.4.4.2. Market size and forecast, by Energy Source
- 6.3.4.5. Spain
- 6.3.4.5.1. Market size and forecast, by Component
- 6.3.4.5.2. Market size and forecast, by Energy Source
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Market size and forecast, by Component
- 6.3.4.6.2. Market size and forecast, by Energy Source
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Component
- 6.4.3. Market size and forecast, by Energy Source
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Component
- 6.4.4.1.2. Market size and forecast, by Energy Source
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Component
- 6.4.4.2.2. Market size and forecast, by Energy Source
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Component
- 6.4.4.3.2. Market size and forecast, by Energy Source
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Component
- 6.4.4.4.2. Market size and forecast, by Energy Source
- 6.4.4.5. Australia
- 6.4.4.5.1. Market size and forecast, by Component
- 6.4.4.5.2. Market size and forecast, by Energy Source
- 6.4.4.6. Rest of Asia-Pacific
- 6.4.4.6.1. Market size and forecast, by Component
- 6.4.4.6.2. Market size and forecast, by Energy Source
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Component
- 6.5.3. Market size and forecast, by Energy Source
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Brazil
- 6.5.4.1.1. Market size and forecast, by Component
- 6.5.4.1.2. Market size and forecast, by Energy Source
- 6.5.4.2. United Arab Emirates
- 6.5.4.2.1. Market size and forecast, by Component
- 6.5.4.2.2. Market size and forecast, by Energy Source
- 6.5.4.3. Saudi Arabia
- 6.5.4.3.1. Market size and forecast, by Component
- 6.5.4.3.2. Market size and forecast, by Energy Source
- 6.5.4.4. South Africa
- 6.5.4.4.1. Market size and forecast, by Component
- 6.5.4.4.2. Market size and forecast, by Energy Source
- 6.5.4.5. Rest of LAMEA
- 6.5.4.5.1. Market size and forecast, by Component
- 6.5.4.5.2. Market size and forecast, by Energy Source
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product mapping of top 10 player
- 7.4. Competitive dashboard
- 7.5. Competitive heatmap
- 7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
- 8.1. Siemens AG
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.2. ABB Ltd.
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.3. General Electric Company
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.4. Schneider Electric SE
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.5. State Grid Corporation of China
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.6. Eaton Corporation
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.7. Mitsubishi Electric Corporation
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.8. Toshiba Corporation
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.9. National Grid plc
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.10. NextEra Energy, Inc.
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot