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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The power grid industry has seen a positive upward trend owing to rising electricity consumption, which is contributed by the increasing population, expansion of electricity infrastructure in remote locations, increasing usage of electronic devices, and rapid urbanization. For instance, according to World Energy Outlook Report 2022 by International Energy Agency (IEA), global electricity demand rises by 5,900 terawatt-hours (TWh) in the Stated Policies Scenario (STEPS) and over 7,000 TWh in the Announced Pledges Scenario (APS) by 2030, equivalent to adding the current level of demand in the US and the EU. In advanced economies, transport is the largest contributor to increased electricity demand as the market share of electric cars rises from about 8.0% in 2021 to 32.0% in the STEPS and almost 50.0% in the APS by 2030. In emerging markets and developing economies, population growth and rising demand for cooling contribute to increasing electricity demand. In China, air conditioner ownership will expand by around 40.0% from current levels in the STEPS and APS by 2030.

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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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