Global Self-Healing Grid Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 9.02% through 2020 to 2026, reaching nearly US$ 3.72 Bn.
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Global Self-Healing Grid Market Overview:
A self-healing grid is a type of grid used in power distribution services. A self-healing grid is widely used to improve system reliability. This grid system delivers help in restoring functionalities and automatic repairing at atomic levels without any human interference.
Looking forward, the market is projected to reach a value of US$ 3.72 Bn. by 2026, expanding at a CAGR of around 9.02% during 2020-2026. The latest technological developments and increased government investment in smart energy infrastructure like smart grid are driving industry growth. Moreover, expanding demand for uninterrupted power supply from many end-users such as industries, commercial outlets, individual consumers and government organizations is a major factor fuelling the growth of the global self-healing grid market.
Development in communication technologies and innovation of ageing grid infrastructure are some factors, expected to create lucrative opportunities for the self-healing grid market growth during 2020-2026. On the other hand, low acceptance of self-healing grid technologies in developing countries and high initial installation cost are major factors projected to hinder the growth of the global self-healing grid market during 2020-2026.
Smart Grids Innovations:
The smart grids innovation challenge (IC1) is co-led by India, China, and Italy and the member economies include the United States of America, Canada, Mexico, Australia, China, South Korea, United Kingdom, Finland, Denmark, France, Germany, India, Italy, Indonesia, Norway, Saudi Arabia, Brazil, Sweden, the Netherlands, and the EU.
Energy Consumption of China:
The energy consumption of China reached a new high level of 4,640 Mtce in 2018, with an upsurge of 3.3% compared with 2017. There are major five power generation groups in China, which are the China Datang Corp., China Huaneng Group, CHN ENERGY, the China Huadian Corp., and State Power Investment Corp. Nearly 70% of China's power generation is provided by these five companies.
Renewable Energy and Smart Grids in Germany:
About 540 TWh were generated from all installed resources in 2018. In total, RES produced nearly 219 TWh in 2018, 4.3 % more than in 2017.
India Becomes Fastest-Growing Energy Market in the World:
India has finally acquired the long-awaited tag of the fastest increasing energy market in the globe. According to the International Energy Agency (IEA), the country’s investment in the energy sector raised at a rate of 12 % in 2018 - the highest growth rate as compared to other countries.
Global Self-Healing Grid Market Segmentation:
By component, the hardware segment is expected to account for the largest 56% market share by 2026 thanks to the growing deployment of additional sensing and communication devices as a part of self-healing grid solutions. The growing deployment of a hardware component in major regions like North America and Europe is expected to drive the hardware segment of the global self-healing grid market during 2020-2026.
Among the end-user, the public utility segment was valued at US$ XX.27 Bn. in 2019 and is expected to reach US$ XX.55 Bn. by 2026 at a CAGR of 10.32% over the forecast period. This growth is driven by the government grants to public utilities is likely to drive the public utility end-user segment. Likewise, the MMR report provides an accurate prediction of the contribution of the various segments to the growth of the self-healing grid market size.
Global Self-Healing Grid Market Regional Analysis:
North America self-healing grid market was valued at US$ XX Bn. in 2020 and is expected to reach a value of US$ XX Bn. by 2026, with a CAGR of XX.98% during the forecast period. The major factor responsible for the growth of the North American market is growing government initiatives for expansion of power distribution grids and high adoption of technologies in distribution and transport of power in economies in the region.
The U.S. is expected to lead the North American self-healing grid market, generating revenue worth US$ XX Bn by 2026. This growth is attributed to rising investment in the upgrading of advanced T&D infrastructure.
APAC also play important roles in the self-healing grid market, with market size of US$ XX Bn. in 2019 and will be US$ XX Bn. by 2026, with a CAGR of XX%. The government of economies like India, China is increasingly involved to expand the distribution sector in India by launching programs for instance the National Smart Grid Mission, which has been accepted by the Ministry of Power.
The MMR research study includes the profiles of leading companies operating in the global self-healing grid market.
For example, Siemens is one of the prominent and most popular company worldwide and is involved in the manufacture of high-end products like automation, mobility, and software solution among others offer self-healing technology solutions for power grids and smart grids. The product that they provide is called the Self Optimizing Grid. This product is a solution that can offer automation and distributed applications to facilitate the remote control and monitoring of the grid.
The objective of the report is to present a comprehensive analysis of the Global Self-Healing Grid Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Self-Healing Grid Market dynamics, structure by analyzing the market segments and project the Global Self-Healing Grid Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Self-Healing Grid Market make the report investor’s guide.
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Global Self-Healing Grid Market Scope: Inquire before buying
Global Self-Healing Grid Market, by Region
• North America
• Middle East& Africa
• South America
Global Self-Healing Grid Market Key Players
• General Electric Company
• G&W Electric
• Schneider Electric
• Sentient Energy
• Oracle Corporation
• IBM Corporation
• DNV GL
• Alectra Utilities
• Networked Energy Services
• Duke Energy Corporation
• Hitachi, Ltd.
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