PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1477027
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1477027
Power Grid Market Size and Share Analysis by Component, Power Source, Application - Global Industry Demand Forecast to 2030
The global power grid market revenue has been estimated at USD 281.0 billion in 2023, which is expected to reach USD 409.6 billion by 2030, growing at a CAGR of 5.6% during 2024-2030.
This occurs as a result of the fast industrialization, urbanization, and electrification in developing countries, as changes in the weather patterns and the people's activities, among other factors.
The electricity grid is a dynamic entity. When it comes to electricity demand, its evolution and change went through several stages throughout the years - these ranges cover new technologies and better reliability of diverse electricity sources. Also, fluctuation of voltage happens on an hourly basis which is a result of different generating sources being subjected to various operations to meet the demand of the least possible cost.
Today's innovations of the old power grid systems have resulted in smart grids that offer improved reliability and smoother electrical supply. The installation of this system is rather straightforward and hence is a process that can be easily completed. In addition, it has a smaller footprint of green spaces compared to normal grids.
The smart grid concept focuses on grid observability by controlling the assets of users, security, performance of power system maintenance, and effective planning. Besides, it is applicable at the microgrid level to connect to all other microgrids and to build an extensive network T&D system that is smart.
Key Insights
In 2023, the cables category held the largest industry share, accounting for 40%.
They are important for the transmission of electricity from power plants to people.
Transformation of electricity in higher level voltages is another significant role of high-voltage cables.
Several methods are available for the installation of transmission lines e.g., above-ground lines for long-distance transmission and underground lines in densely populated areas and undesirable overhead lines.
In 2023, the coal category holds a 20% industry share based on power sources.
The category is also projected to stay the largest source of electricity generation worldwide.
Several countries, including Australia, China, India, Indonesia, South Africa, and Russia, heavily rely on coal for power generation.
The advantages of coal include affordability compared to oil and nuclear power, a stable supply, and energy security.
Asia-Pacific is projected to have the highest growth rate of 6.0% during the projection timeframe.
This increase comes as a result of government programs designed to transition to clean power sources and rapid industrialization and urbanization rates.
Electric power is one of the major forces spurring the regional development.
Some of the countries in Asia-Pacific also have made a remarkable contribution to effect this shift.
The natural gas sector is projected to have the highest growth forecast in the next period.
This expansion is caused by the lower emission level of this energy source compared to other energy options, which means that it is friendlier to the planet.
Natural gas when lit, has lesser carbon dioxide emission per unit of energy produced, thus making it a cleaner fuel option compared to other fossil fuels.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by component
- 1.4.2. Market size breakdown, by power source
- 1.4.3. Market size breakdown, by application
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Component (2017-2030)
- 6.2.1. Cables market revenue, by type (2017-2030)
- 6.3. Market Revenue, by Power Source (2017-2030)
- 6.4. Market Volume, by Application (2017-2030)
- 6.5. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Component (2017-2030)
- 7.2.1. Cables market revenue, by type (2017-2030)
- 7.3. Market Revenue, by Power Source (2017-2030)
- 7.4. Market Volume, by Application (2017-2030)
- 7.5. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Component (2017-2030)
- 8.2.1. Cables market revenue, by type (2017-2030)
- 8.3. Market Revenue, by Power Source (2017-2030)
- 8.4. Market Volume, by Application (2017-2030)
- 8.5. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Component (2017-2030)
- 9.2.1. Cables market revenue, by type (2017-2030)
- 9.3. Market Revenue, by Power Source (2017-2030)
- 9.4. Market Volume, by Application (2017-2030)
- 9.5. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Component (2017-2030)
- 10.2.1. Cables market revenue, by type (2017-2030)
- 10.3. Market Revenue, by Power Source (2017-2030)
- 10.4. Market Volume, by Application (2017-2030)
- 10.5. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Component (2017-2030)
- 11.2.1. Cables market revenue, by type (2017-2030)
- 11.3. Market Revenue, by Power Source (2017-2030)
- 11.4. Market Volume, by Application (2017-2030)
- 11.5. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Component (2017-2030)
- 12.2.1. Cables market revenue, by type (2017-2030)
- 12.3. Market Revenue, by Power Source (2017-2030)
- 12.4. Market Volume, by Application (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Component (2017-2030)
- 13.2.1. Cables market revenue, by type (2017-2030)
- 13.3. Market Revenue, by Power Source (2017-2030)
- 13.4. Market Volume, by Application (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Component (2017-2030)
- 14.2.1. Cables market revenue, by type (2017-2030)
- 14.3. Market Revenue, by Power Source (2017-2030)
- 14.4. Market Volume, by Application (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Component (2017-2030)
- 15.2.1. Cables market revenue, by type (2017-2030)
- 15.3. Market Revenue, by Power Source (2017-2030)
- 15.4. Market Volume, by Application (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Component (2017-2030)
- 16.2.1. Cables market revenue, by type (2017-2030)
- 16.3. Market Revenue, by Power Source (2017-2030)
- 16.4. Market Volume, by Application (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Component (2017-2030)
- 17.2.1. Cables market revenue, by type (2017-2030)
- 17.3. Market Revenue, by Power Source (2017-2030)
- 17.4. Market Volume, by Application (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Component (2017-2030)
- 18.2.1. Cables market revenue, by type (2017-2030)
- 18.3. Market Revenue, by Power Source (2017-2030)
- 18.4. Market Volume, by Application (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Component (2017-2030)
- 19.2.1. Cables market revenue, by type (2017-2030)
- 19.3. Market Revenue, by Power Source (2017-2030)
- 19.4. Market Volume, by Application (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Component (2017-2030)
- 20.2.1. Cables market revenue, by type (2017-2030)
- 20.3. Market Revenue, by Power Source (2017-2030)
- 20.4. Market Volume, by Application (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Component (2017-2030)
- 21.2.1. Cables market revenue, by type (2017-2030)
- 21.3. Market Revenue, by Power Source (2017-2030)
- 21.4. Market Volume, by Application (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Component (2017-2030)
- 22.2.1. Cables market revenue, by type (2017-2030)
- 22.3. Market Revenue, by Power Source (2017-2030)
- 22.4. Market Volume, by Application (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Component (2017-2030)
- 23.2.1. Cables market revenue, by type (2017-2030)
- 23.3. Market Revenue, by Power Source (2017-2030)
- 23.4. Market Volume, by Application (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Component (2017-2030)
- 24.2.1. Cables market revenue, by type (2017-2030)
- 24.3. Market Revenue, by Power Source (2017-2030)
- 24.4. Market Volume, by Application (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Component (2017-2030)
- 25.2.1. Cables market revenue, by type (2017-2030)
- 25.3. Market Revenue, by Power Source (2017-2030)
- 25.4. Market Volume, by Application (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Component (2017-2030)
- 26.2.1. Cables market revenue, by type (2017-2030)
- 26.3. Market Revenue, by Power Source (2017-2030)
- 26.4. Market Volume, by Application (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Component (2017-2030)
- 27.2.1. Cables market revenue, by type (2017-2030)
- 27.3. Market Revenue, by Power Source (2017-2030)
- 27.4. Market Volume, by Application (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Component (2017-2030)
- 28.2.1. Cables market revenue, by type (2017-2030)
- 28.3. Market Revenue, by Power Source (2017-2030)
- 28.4. Market Volume, by Application (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. ABB Ltd.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Siemens AG
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. General Electric Company
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Prysmian S.p.A.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Schneider Electric SE
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Eaton Corporation plc
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Toshiba International Corporation
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Powell Industries Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Hitachi Ltd.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Mitsubishi Electric Corporation
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
