1. Home
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power Market Trends
Power Grid System Global Market Report 2022

Power Grid System Global Market Report 2022

  • September 2022
  • 175 pages
  • ID: 6319271
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the power grid system market are Aker Solutions ASA, Oceaneering International, LS Cable & System, Sumitomo Electric Industries, Schneider Electric, Intertek Group, Schlumberger, Hitachi Energy, NKT, ZTT, TE Connectivity, Apar Industries, Honeywell Elster, Hubbell and DR Cable Systems.

The global power grid system market is expected to grow from $7.69 billion in 2021 to $8.52 billion in 2022 at a compound annual growth rate (CAGR) of 10.86%. The power grid system market is expected to grow to $12.89 billion in 2026 at a compound annual growth rate (CAGR) of 10.90%.

The power grid system market consists of sales of the power grid systems by entities (organizations, sole traders, and partnerships) that refer to a physical system that delivers electricity from the place where it is generated to the site where it is used. The power grid offers on-demand electricity and it consists of generating stations (power plants), transmission system and distribution system.

The main types of power supply in the power grid system market are captive generation, wind power, and other power supplies.A captive generating plant is a power plant established by any individual, cooperative society, or association of individuals (including businesses) to generate electricity primarily for their own use.

The components of power grid systems are cables, variable speed drives, transformers, and switchgear. These are applied on seabed and land.

Europe was the largest region in the power grid system market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in power grid system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The power grid system market research report is one of a series of new reports that provides power grid system market statistics, including power grid system industry global market size, regional shares, competitors with a power grid system market share, detailed power grid system market segments, market trends and opportunities, and any further data you may need to thrive in the power grid system industry. This power grid system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The increase in the use of subsea power cables is expected to propel the growth of the power grid system market.The rising usage of subsea power cables leads to an increase in demand for electricity as most of the processes and machines in manufacturing processes are electric energy-intensive.

For instance, in 2021, there were approximately 436 submarine cables in service around the world.The total number of cables is constantly changing as new cables enter service and older cables are decommissioned.

In 2021, there are over 1.3 million kilometers of submarine cables in service globally. Some cables are quite short, such as the 131-kilometer CeltixConnect cable between Ireland and the UK. Therefore, demand for power grid systems will rise as the prevalence of increasing use of subsea power cables rises.

Technological advancements is a key trend in the power grid systems market.Various technological improvements like large capacity sodium-sulfur batteries, hydrogen storage, and the development of solid electrolytes are helping to make batteries advanced.

For instance, in September 2021, Engineers at the University of California in collaboration with LG Energy Solutions created a solid-state or solid electrolyte battery.This battery merges two battery sub-fields into a single battery.

It can be used in many applications like grid storage and electric vehicles. Initial tests indicate that the new battery is safe, long-lasting, and energy-dense.

In July 2020, Hitachi, a Japanese multinational conglomerate corporation, acquired ABB Power Grids from Swiss-Swedish engineering company, ABB for $7.8 billion. This acquisition is expected to create a new business for tackling the renewable energy frontier of the industry. ABB, Switzerland-based power grid business includes microgrid controls, ADMS, SCADA, and enterprise digital solutions.

The countries covered in the power grid system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Testing, Inspection, & Certification Market Research Report by Service, Source, Industry Coverage, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19

  • $ 3949
  • October 2022
  • 247 pages

Testing, Inspection, & Certification Market Research Report by Service, Source, Industry Coverage, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19 The Global Testing, Inspection, & Certification ...

  • World
  • Consumer Goods
  • Aerospace And Defense
  • Industry analysis

Global Sectionalizers Industry $ 5450 October 2022


ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on