Self-Healing Grid Market Outlook to 2023: Emerging Trends, New Growth Opportunities, Regional Analysis & Forecast

Market Highlights

New energy has developed profoundly and will continue to develop rapidly. Though new energy has the advantages of less pollution and large reservation. It also has the disadvantages of low energy density, wide distribution intermittent supply and high cost. The self-healing of smart grid gives a solution to these problems, which will update the control and protection system of power grid. In China, self-healing focuses on automation, real-time monitoring and self-adjustment. In America and Europe, self-healing emphasizes on fast simulation decision, co-ordination/self-adaptive control. The future development of self-healing technologies will depend on advanced control, big data and artificial intelligence.

Delivering electrical power from the generating station to consumption loads is the classical task of the power grid. However, a power grid and any other network’s infrastructure share some difficulties in operation, control, efficiency, and reliability. In a self-healing grid, it only acts against grid disturbances, but also secures the grid against disturbances. Upgrade of distribution network infrastructure requires replacement of conventional analog systems with digital components, processors, software, and power electronic technologies. A major benefit of integration of this technology, is the low time requirement for reconfiguration of solutions to outages and faults, ranging from 1 to 5 minutes. Moreover, increasing integration of IoT, and rampant development of smart cities characterized by enhanced connectivity of electrical supply systems, tracking and monitoring consumption by consumers and service providers, drive the demand for such grids. Integration of distributed renewable energy systems is also expected propel demand for self-healing grids over the forecast period.

The global self-healing grid market is expected to grow at 9% CAGR during the forecast period.

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Market Research Analysis

Transmission lines by application, hardware by component and public utility by End-user are expected to grow at the highest CAGR.

Global self-healing grid market has been segmented based on applications, components, End-users and regions. Based on applications, the market is segmented into transmission lines and distribution lines. Among these, transmission lines segment, is projected to dominate the self-healing grid market through 2023. The high dependency on transmission lines across the world for proper current transmission, is expected to boost this segment modification through self-healing systems. Based on the components, the market is segmented into hardware, and software & services. Hardware dominated the market in 2016 and is projected to be the fastest-growing component segment. The sensors in the hardware segment provide the data related to various utility assets, based on various parameters, such as, voltage, current, heat, temperature, and frequency. This data provided by sensors are used by equipment /component management system to provide actionable information, which is used to form a predictive maintenance schedule, depending on the health of the gird. Based on the end-users, the market has been segmented as public utility, and private utility. Public utility dominated the market in 2016 and is projected to be the fastest-growing packaging type over the next five years, as a result of the rise investments in grid modernization and requirement for energy efficiency. Public utilities are funded by the government and have a huge customer base. Increasing investments in distributed energy generation sources, have increased the grid complexity, as these sources are to be connected to grid for reliable supply of power.

Scope of the Report

This study provides an overview of the global self-healing grid market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the self-healing grid market by its application, by component, by utility type and by region.

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Key Players

The key players of global self-healing grid market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), S & C Electric Company (U.S.), Sentient Energy, Inc. (U.S.), Eaton Corporation plc (Ireland), Schneider Electric SE (France), Landis+Gyr AG (Switzerland), Cisco Systems, Inc. (U.S.), Infosys Limited (India), Oracle Corporation (U.S.) and G&W Electric (U.S.).

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