
Power Grid System Market Report and Forecast 2025-2034
Description
The global power grid system market size reached a value of approximately USD 10.58 Billion in 2024. The market is further projected to grow at a CAGR of 10.10% between 2025 and 2034, reaching a value of USD 27.69 Billion by 2034.
Key Trends in the Market
Power grid system is a network of power consumers and providers that are connected by distribution and transmission lines and are operated by one or more control centres. The power grid system is responsible for delivering electricity to businesses and homes from power plants.
The EMR’s report titled “Power Grid System Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Components
The variable speed driver segment is anticipated to account for a significant power grid system market share as it is capable of handling a wide range of energy demands and voltages. It caters to the high-power needs of the dry and wet gas compressors and boosters and injector motors along with the devices consuming less power like scrubbing and submarine impellers. Moreover, the reduced power line disturbances, reduced risk, and increased motor longevity with variable speed drives are expected to further enhance the growth of the segment.
Market Share by Region
Europe is expected to hold a significant share of the market over the forecast period owing to the rising demand for renewable energy sources from consumers in the region. The European governments are implementing favourable policies and regulations which is fuelling the demand for power grid systems. The presence of a well-established and modern grid infrastructure and rising investments by the key market players in renewable energy sources, such as solar power and wind power, are further aiding the power grid system market growth in Europe.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
ABB Ltd.
ABB Ltd. was founded in 1988 and is headquartered in Zurich, Switzerland. The company focuses on enabling a resource efficient future and works closely with transportation and utility customers, among others.
ltron, Inc.
ltron, Inc. was founded in 1977 and is headquartered in Washington, United States. The company is known for providing products and services for water resource and energy management.
Siemens AG
Siemens AG was established in 1847 and has its headquarters located in Munich, Germany. The multinational automation company generates and distributes power and also focuses on the intelligent infrastructure for buildings and distributed energy systems.
Other major market players include General Electric Company, Honeywell International Inc., Schneider Electric SE, Belden Inc., Wipro Limited, and NKT A/S, among others.
Key Trends in the Market
Power grid system is a network of power consumers and providers that are connected by distribution and transmission lines and are operated by one or more control centres. The power grid system is responsible for delivering electricity to businesses and homes from power plants.
- Technological advancements such as the introduction of advanced metering infrastructure and control systems to enable real time monitoring and load management, among other applications is enhancing the power grid system market demand.
- Shifting preference of consumers towards electric vehicles is increasing the demand for electric vehicle charging stations and load management systems, which in turn, is contributing to the increased requirement for power grid systems.
- Growing population is boosting the electricity requirement across the globe. This is propelling the need for modernisation of power grid systems in order to ensure efficient power supply to the residential, industrial, and commercial sectors.
The EMR’s report titled “Power Grid System Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Components
- Cables
- Variable Speed Drivers
- Transformers
- Switchgears
- Others
- Captive Generation
- Wind Power
- Tidal Power
- Solar Power
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The variable speed driver segment is anticipated to account for a significant power grid system market share as it is capable of handling a wide range of energy demands and voltages. It caters to the high-power needs of the dry and wet gas compressors and boosters and injector motors along with the devices consuming less power like scrubbing and submarine impellers. Moreover, the reduced power line disturbances, reduced risk, and increased motor longevity with variable speed drives are expected to further enhance the growth of the segment.
Market Share by Region
Europe is expected to hold a significant share of the market over the forecast period owing to the rising demand for renewable energy sources from consumers in the region. The European governments are implementing favourable policies and regulations which is fuelling the demand for power grid systems. The presence of a well-established and modern grid infrastructure and rising investments by the key market players in renewable energy sources, such as solar power and wind power, are further aiding the power grid system market growth in Europe.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
ABB Ltd.
ABB Ltd. was founded in 1988 and is headquartered in Zurich, Switzerland. The company focuses on enabling a resource efficient future and works closely with transportation and utility customers, among others.
ltron, Inc.
ltron, Inc. was founded in 1977 and is headquartered in Washington, United States. The company is known for providing products and services for water resource and energy management.
Siemens AG
Siemens AG was established in 1847 and has its headquarters located in Munich, Germany. The multinational automation company generates and distributes power and also focuses on the intelligent infrastructure for buildings and distributed energy systems.
Other major market players include General Electric Company, Honeywell International Inc., Schneider Electric SE, Belden Inc., Wipro Limited, and NKT A/S, among others.
Table of Contents
158 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Power Grid System Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Power Grid System Historical Market (2018-2024)
- 5.3 Global Power Grid System Market Forecast (2025-2034)
- 5.4 Global Power Grid System Market by Components
- 5.4.1 Cables
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 Variable Speed Drivers
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 Transformers
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.4.4 Switchgears
- 5.4.4.1 Historical Trend (2018-2024)
- 5.4.4.2 Forecast Trend (2025-2034)
- 5.4.5 Others
- 5.5 Global Power Grid System Market by Power Supply
- 5.5.1 Captive Generation
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Wind Power
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.5.3 Tidal Power
- 5.5.3.1 Historical Trend (2018-2024)
- 5.5.3.2 Forecast Trend (2025-2034)
- 5.5.4 Solar Power
- 5.5.4.1 Historical Trend (2018-2024)
- 5.5.4.2 Forecast Trend (2025-2034)
- 5.5.5 Others
- 5.6 Global Power Grid System Market by Region
- 5.6.1 North America
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Europe
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.6.3 Asia Pacific
- 5.6.3.1 Historical Trend (2018-2024)
- 5.6.3.2 Forecast Trend (2025-2034)
- 5.6.4 Latin America
- 5.6.4.1 Historical Trend (2018-2024)
- 5.6.4.2 Forecast Trend (2025-2034)
- 5.6.5 Middle East and Africa
- 5.6.5.1 Historical Trend (2018-2024)
- 5.6.5.2 Forecast Trend (2025-2034)
- 6 North America Power Grid System Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Power Grid System Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Power Grid System Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Power Grid System Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Power Grid System Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirate
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 ABB Ltd
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Itron, Inc.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Siemens AG.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 General Electric Company
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Honeywell International Inc.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Schneider Electric SE
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Belden Inc.
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Wipro Limited
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 NKT A/S
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Others
Pricing
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