Global Grid Equipment Growth Opportunities

Global Grid Equipment Growth Opportunities

Electrification and Decarbonization Trends Drive Future Grid Investments

RELEASE DATE
11-Dec-2023
REGION
Global
Research Code: PF51-01-00-00-00
SKU: EG_2023_392
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Description

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. Frost & Sullivan expects the global grid equipment market revenue to 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. Frost & Sullivan 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.

Author: Neha Tatikota

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Grid Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Primary Findings

Scope of Analysis

Geographical Scope

Key Competitors

Forecast Assumptions

Grid Equipment Market

Grid Equipment Market (continued)

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 Disruptive Potential of EVs on the Grid (continued)

The Digitalization of Grid Equipment

The Digitalization of Grid Equipment (continued)

Localization and Sustainability

Localization and Sustainability (continued)

Growth Drivers

Growth Drivers (continued)

Growth Restraints

Growth Restraints (continued)

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

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

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

Growth Opportunity 1—Digitalization to Improve Reliability

Growth Opportunity 1—Digitalization to Improve Reliability (continued)

Growth Opportunity 2—As-a-service Business Model

Growth Opportunity 2—As-a-service Business Model (continued)

Growth Opportunity 3—Eco-friendly Solutions

Growth Opportunity 3—Eco-friendly Solutions (continued)

Growth Opportunity 4—Leveraging Technology and Optimizing Cost on the Factory Floor

Growth Opportunity 4—Leveraging Technology and Optimizing Cost on the Factory Floor (continued)

Acronyms

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

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. Frost & Sullivan expects the global grid equipment market revenue to 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. Frost & Sullivan 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. Author: Neha Tatikota
More Information
Author Neha Tatikota
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number PF51-01-00-00-00