The term "super grid" refers to the technology utilized to distribute large amounts of power across great distances. "Mega grid" or "smart grid" are other terms for super grids. Some of the primary driving reasons for the super grid market are advancements in infrastructure that consumes a lot of energy and a rise in the use of renewable energy sources with the integration of traditional grid scale technology. Raw material cost difficulties, particularly in emerging nations, are impeding the expansion of the super grid industry, as are lengthy licensing procedures for commercialization, which has increased rivalry among market competitors.
MARKET SCOPE
The "Global Super Grids Market Analysis to 2028" is a specialized and in-depth study of the super grids market with a special focus on the global market trend analysis. The report aims to provide an overview of super grids market with detailed market segmentation by type, application, and geography. The global super grids market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading super grids market players and offers key trends and opportunities in the super grids market.
MARKET SEGMENTATION
- The global super grids market is segmented on the basis of type, and application.
- On the basis of type, the market is segmented as high voltage grid, extra high voltage grid, and ultra-high voltage grid.
- On the basis of application the market is segmented into wind energy, solar energy, and others.
MARKET DYNAMICS
Drivers:
- Increase in the usage of renewable energy sources.
- Advancement in infrastructure that are consuming high energy.
Restraints:
- Raw material cost issues- especially in developing economies.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The super grids market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the super grids market in these regions.
IMPACT OF COVID-19 ON SUPER GRIDS MARKET
The COVID-19 pandemic has negatively affected the global super grids market. Because governments were required to apply lockdowns during the first half of 2020 as a result of COVID-19, the smart grid industry has stalled. Governments and municipal governments established strict restrictions, and all non-essential activity were suspended. Because end-user activities were halted, this had a negative impact on the smart grid market. Furthermore, during the second quarter, production and supply chain delays were observed, posing a challenge to the super grid industry, since super grid systems were still not functioning at full capacity.
MARKET PLAYERS
The report covers key developments in the super grids market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from super grids market market are anticipated to lucrative growth opportunities in the future with the rising demand for super grids market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Super Grids market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- Alstom S.A
- Schneider Electric
- Siemens AG
- Alcan Cable
- China Electric Power Equipment and Technology Co., Ltd. (CET)
- KEI Industries Ltd.
- Bharat Heavy Electricals limited.
- American Superconductor Corporation
- AZZ Incorporated