Power grid market is anticipated to grow at a moderate CAGR of 5.5% during the forecast period (2024-2031). 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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To meet rising electricity demand, governments are investing in electricity infrastructure including transmission and distribution infrastructure to strengthen rural electricity networks as well as provide better electricity transmission to urban areas. For instance, according to IEA estimates around $2.8 trillion were anticipated to be invested in energy in 2023. More than $1.7 trillion is going to clean energy, including renewable power, nuclear, grids, storage, low-emission fuels, efficiency improvements, and end-use renewables and electrification. The remainder, slightly over $1.0 trillion, is going to unabated fossil fuel supply and power, of which around 15.0% is to coal and the rest to oil and gas.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Power Grid Market by Component
- Cables
- Variables Speed drives
- Transformers
- Switchgear
Global Power Grid Market by Power Source
- Conventional Power
- Renewable Power
- Nuclear Power
- Hybrid Power
Global Power Grid Market by Application
- Generation
- Transmission
- Distribution
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Eaton Corp
- Fuji Electric Co. Ltd.
- Havells India Ltd.
- Hubbell Inc.
- LS ELECTRIC Co. Ltd
- Mitsubishi Electric Corp.
- NR Electric Co., Ltd.
- NKT AS
- Powell Industries, Inc.
- Prysmian S.p.A
- Rockwell Automation Inc.
- Sécheron SA
- Southwire Company, LLC
- Sumitomo Electric Co. Ltd.
- Toshiba Energy Systems & Solutions Corp
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ 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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