Press release
Power Grid System Market 2023 Size, Industry Overview, Demand Factors And New Solutions Forecast To 2032
Power Grid System Global Market
Power Grid System Market Size, Growth Rate, And Forecast
The global power grid system market size grew from $8.66 billion in 2022 to $9.76 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The power grid system market size is expected to grow to $15.66 billion in 2027 at a CAGR of 12.6%.
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Power Grid System Market Drivers
The increase in the use of subsea power cables is expected to propel the growth of the power grid system market. The rising usage of subsea power cables leads to an increase in demand for electricity, as most of the processes and machines in manufacturing processes are electric energy-intensive.
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Power Grid System Market Segments
1) By Power Supply: Captive Generation, Wind Power, Other Power Supplies
2) By Components: Cables, Variable Speed Drives, Transformers, Switchgears
3) By Application: Seabed, Land
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Power Grid System market.
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Power Grid System Market Key Players
Major competitors in the Power Grid System market include Aker Solutions ASA, Oceaneering International, LS Cable & System, Sumitomo Electric Industries
The Table Of Content For The Power Grid System Market Include:
1. Executive Summary
2. Power Grid System Market Characteristics
3. Power Grid System Market Trends And Strategies
4. Power Grid System Market - Macro Economic Scenario
5. Power Grid System Market Size And Growth
……
27. Power Grid System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Power Grid System Market
29. Power Grid System Market Future Outlook and Potential Analysis
30. Appendix
The Business Research Company's "Global Power Grid System Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
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