Power Grid System Market, By Grid Type, By Technology, By End User, By Geography

Description

The Global Power Grid System Market is estimated to be valued at USD 11.67 Bn in 2024 and is expected to reach USD 24.78 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 11.67 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	11.40%	2031 Value Projection:	US$ 24.78 Bn

Figure. Power Grid System Market Share (%), By Region, 2024

The global power grid system market has been witnessing significant growth in recent years driven by the increasing demand for clean and sustainable energy. Power grids play a vital role in efficiently transmitting electricity from generation units such as power plants to industrial, commercial and residential end-users through transmission and distribution networks. With growing focus on renewable sources of energy like solar and wind, power grids are undergoing major technological upgrades to accommodate intermittent power supplies and enhance their capacity to transmit electricity over long distances. The market players are investing heavily in developments of smart grid technology, energy storage solutions, grid-scale batteries and grid automation systems to make power grids more efficient, resilient and reliable.

Market Dynamics:

The major growth drivers for the global power grid system market include rapid urbanization and industrialization in developing nations, rising energy demand worldwide, technological advancements in transmission infrastructure, integration of renewable energy and need for modernization of aging power grids. However, high initial investment requirements and difficulties associated with land acquisition for new transmission lines pose significant challenges for the market. The opportunities lie in increasing investments toward development of super-grids that can transmit bulk power across national borders, growing focus on micro-grids to energize off-grid and rural communities, and integration of grid connectivity with electric vehicles to enable Vehicle-to-Grid (V2G) functionality.

Key features of the study:

This report provides in-depth analysis of the global power grid system market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global power grid system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABB Ltd., Eaton Corporation, General Electric Company, Havells India Ltd., Hitachi Energy, Hyundai Electric & Energy Systems Co., Ltd., LS Electric, Mitsubishi Electric Corporation, National Grid plc, Nexans, Prysmian Group, Powell Industries, Schneider Electric SE, Siemens AG, Toshiba Energy Systems & Solutions Corporation

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global power grid system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global power grid system market.

Detailed Segmentation-

Grid Type Insights (Revenue, USD Bn, 2019 - 2031)
- Transmission Grid
- Distribution Grid
Technology Insights (Revenue, USD Bn, 2019 - 2031)
- Conventional Grid
- Smart Grid
End User Insights (Revenue, USD Bn, 2019 - 2031)
- Utility
- Industrial
- Commercial
- Residential
Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- ABB Ltd.
- Eaton Corporation
- General Electric Company
- Havells India Ltd.
- Hitachi Energy
- Hyundai Electric & Energy Systems Co., Ltd.
- LS Electric
- Mitsubishi Electric Corporation
- National Grid plc
- Nexans
- Prysmian Group
- Powell Industries
- Schneider Electric SE
- Siemens AG
- Toshiba Energy Systems & Solutions Corporation

Product Code: CMI7351

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Grid Type
- Market Snippet, By Technology
- Market Snippet, By End User
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Power Grid System Market, By Grid Type, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Transmission Grid
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Distribution Grid
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

5. Global Power Grid System Market, By Technology, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Conventional Grid
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Smart Grid
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

6. Global Power Grid System Market, By End User, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Utility
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Industrial
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Commercial
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Residential
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

7. Global Power Grid System Market, By Region, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Grid Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- ABB Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Eaton Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- General Electric Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Havells India Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hitachi Energy
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Electric & Energy Systems Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- LS Electric
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- National Grid plc
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nexans
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Prysmian Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Powell Industries
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Schneider Electric SE
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Siemens AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Toshiba Energy Systems & Solutions Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
About us and Sales Contact