Global Grid Equipment Market Projected to Reach $232.74 Billion by 2030,
DUBLIN–(BUSINESS WIRE)–The “Global Grid Equipment Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
Rising electricity demand complemented by sustained scaling up of renewable energy worldwide will boost investments in power transmission and distribution (T&D) infrastructure and grid assets, including transformers, switchgear, and cables. The report forecasts that the global grid equipment market revenue will reach $232.74 billion in 2030, with cables being the largest segment, followed by transformers and switchgear.
The market faces multiple challenges after the COVID-19 pandemic, such as raw material price volatility, supply chain disruption, inflation, and high demand and supply gap. Despite the maturity of the grid equipment market, strong electricity demand, rising electrification rates, economic development, and increasing population in China, India, Asia, the Middle East, and Africa will boost the market. In addition, the aging power grid leads to a broader market adoption of electrification, and the transition from fossil fuel to clean energy will boost the demand for T&D equipment.
Grid hardening and modernization, urgent network upgrades, and improved system resilience will positively affect market demand. Industry development will be directed toward higher adoption of digitalization and sustainable solutions. Raw material reuse and sustainability will become an increasingly important part of any value proposition.
With 2023 as the base year, the study period is 2022-2030, and the forecast period is 2024-2030.
This research service analyzes the most recent trends in the following regions:
- North America
- Europe
- Russia and the Commonwealth of Independent States
- China
- East Asia
- Australia, New Zealand, and the Pacific
- Association of Southeast Asian Nations
- India and the Rest of South Asia
- The Middle East
- Africa
- Latin America
The study also offers an overview of the overall transformers, switchgear, and cables market. The report has analyzed key country markets and regions as well as growth drivers and restraints likely to impact growth and determine the market potential of grid equipment over the next decade.
Key Topics Covered:
Growth Opportunity Analysis
- Primary Findings
- Scope of Analysis
- Geographical Scope
- Key Competitors
- Forecast Assumptions
- Grid Equipment Market
- Primary Grid Equipment Market Trends
- Energy Transition and the Rise of Renewables
- Raw Material Price Pressures Continuing
- Lead Times and the Supply Chain Crunch
- The Disruptive Potential of EVs on the Grid
- The Digitalization of Grid Equipment
- Localization and Sustainability
- Growth Drivers
- Growth Restraints
Growth Opportunity Universe
- Growth Opportunity 1 – Digitalization to Improve Reliability
- Growth Opportunity 2 – As-a-service Business Model
- Growth Opportunity 3 – Eco-friendly Solutions
- Growth Opportunity 4 – Leveraging Technology and Optimizing Cost on the Factory Floor
Growth Opportunity Analysis – Transformers
- Revenue Forecast by Region
- Revenue Forecast Analysis by Region
- Power Transformer Revenue Forecast
- Distribution Transformer Revenue Forecast
- Competitive Environment
- Power Transformer Revenue Share
- Distribution Transformer Revenue Share
- Revenue Share Analysis
Growth Opportunity Analysis – Switchgear
- Revenue Forecast by Region
- Revenue Forecast Analysis by Region
- HV Switchgear Revenue Forecast
- MV Switchgear Revenue Forecast
- Competitive Environment
- HV Switchgear Revenue Share
- MV Switchgear Revenue Share
- Revenue Share Analysis
Growth Opportunity Analysis – Power Cables
- Revenue Forecast by Region
- Revenue Forecast Analysis by Region
- Overhead Power Cable Revenue Forecast
- Overhead Distribution Cable Revenue Forecast
- Underground/Subsea Cable Revenue Forecast
- Competitive Environment
- Revenue Share
- Revenue Share Analysis
For more information about this report visit https://www.researchandmarkets.com/r/x7o5qi
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