Allied Market Research Published Latest Report, titled, “Power Grid Market by Components, Power Supply and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030” provides a comprehensive study of the global Power Grid Market along with an analysis of dynamic growth factors, challenges, constraints, and opportunities. Moreover, the report offers detailed insight regarding leading market players and their business strategies that could help new market entrants, shareholders, and stakeholders to make informed business decisions.
Power grid is associated with connected distribution networks that move electricity from power plants to consumers. Offshore power grids produce electricity by gathering renewable source of energy, particularly wind energy. Offshore and subsea industries act as parent markets of the subsea power grid system market. Its demand and development are highly affected by the parent market. The capital expenditure of the subsea has rapidly expanded, which portrays the development of the subsea sector globally. Also, subsea equipment like booster, compressor, blowers, and other, requires a power supply for numerous subsea investigation process, and this is provided by subsea power grid systems, to have effective subsea activities.
Due to the shortage of fossil fuel as a source of energy and rapidly expanding global warming are the major factors driving the development of the global power grid market. In addition, expanding government allocation and private investment market players for power grid systems are other factors driving the growth of the power grid market. Expanding selection of latest technologically advance system in the organizations and the Internet of things (IoT) are helping to reduce power misfortunes and offer proficient grid system. This factor is additionally projected to move towards the growth of the global power grid market to a certain extend.
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The Power Grid Market report includes Porter’s five forces analysis, SWOT analysis, and PESTEL analysis that provides industry-related data and valuable information in tabular format. The SWOT analysis is vital to understand the positive and negative attributes of the Power Grid Market. On the other hand, Porter’s five analysis and PESTEL analysis focuses on which factors can benefit the company and help in the long term.
Market Trends
- In March 2021, Actis LLP which is a private equity organization decided to invest US$ 850 million to launch two green energy plants in India. While the first plant will focus on setting up grid-connected solar and wind power plants, and the second plant will connect to the commercial and industrial sectors.
- In December 2020, the loan agreement between the Asian Development Bank (ADB) and the Government of India of US$ 100 million to modernize and upgrade the power distribution system for enhancing the quality and reliability of electricity distribution across Bengaluru, Karnataka.
- In January 2021, Tata Power got a letter of award (LOA) from Kerala State Electricity Board Limited (KSEBL) to create a 110 MW sun-based project. With this, Tata Power’s inexhaustible capacity will increment to 4,032 MW, out of which 2,667 MW is operational and 1365 MW is under execution, including 110 MW won under this LOA.
- In December 2020, the establishment stones of India’s biggest hybrid sustainable energy park having 30 GW limit was laid in Gujarat at Vighakot town in the district of Kutch. The estimated cost of this undertaking this project is US$ 20.44 billion.
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The market is analyzed based on regions and competitive landscape in each region is mention. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
The research offers an extensive analysis of key players active in the global Power Grid industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include FMC Technologies Inc, ABB Ltd, Aker Solutions ASA, Cameron International Corp, Itron, ABB, Siemens, General Electric, Honeywell Elster, Schneider Electric, Belden, Hubbell, Landis+Gyr, Fujitsu General, Oracle, Cisco, Wipro, IBM. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Key Benefits of Report
- This study presents the analytical depiction of the Power Grid industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Power Grid market share.
- The current market is quantitatively analyzed from 2021 to 2030 to highlight the Power Grid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Power Grid market analysis based on competitive intensity and how the competition will take shape in the coming years.
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