Press release
Power Grid System Global Market Report 2025: Surge in Market Size, High CAGR, Expansion Drivers and Emerging Trends
Power Grid System Market Size
What Is The Projected Market Size Of The Global Power Grid System Global Market Report 2025 And Its Growth Rate?
The Power Grid System market has seen significant recent growth:
• Historical Period Growth: Increasing to $12.01 billion in 2025 (11.1% CAGR) owing to growing energy demand, renewable energy integration, urbanization, infrastructure development, and government initiatives.
• Forecast Period Growth: Expected to reach $19.01 billion in 2029 (12.2% CAGR) due to the electrification of transportation, global connectivity and interconnection, resilience and reliability requirements, policy support and regulatory frameworks, and efforts to address energy access challenges.
What Is Driving The Growth In The Power Grid System Global Market Report 2025?
The upsurge in the use of subsea power cables is anticipated to generate significant growth in the Power Grid System market. As many manufacturing processes depend on electric energy, the increasing use of these cables results in a higher demand for electricity. This trend has reportedly led to a global rise in demand for subsea cables, from $4.6 billion in 2022 to a forecasted $21.3 billion by 2029 according to the Hanwha Group. This directly influences the increasing demand for Power Grid Systems.
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Who Are the Key Players Driving Power Grid System Global Market Report 2025 Growth?
Key players in the Power Grid System market include:
• Siemens AG
• General Electric Co
• Mitsubishi Electric Corporation
• Fuji Electric Co Ltd.
• Schneider Electric S.E
• ABB Ltd.
• Sumitomo Electric Industries Ltd.
• Toshiba Corporation
• Larsen & Toubro Ltd.
• Eaton Corporation plc
• And more.
What Are The Key Trends In The Power Grid System Global Market Report 2025?
The forecasted growth in the Power Grid System market is expected to be driven by:
• Cybersecurity concerns
• Decentralization and microgrids
• Policy and regulatory developments
• Electrification of industry
• Aging infrastructure renewal
What Are The Segments Of The Global Power Grid System Global Market Report 2025?
The Power Grid System market is segmented into:
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
Which Region Leads The Power Grid System Global Market Report 2025?
In 2024, Europe was the largest region in the Power Grid System market. However, Asia-Pacific is predicted to see the fastest growth in the forecast period. The Power Grid System market report provides analysis for regions which include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Power Grid System Global Market Report 2025?
- Market Size Analysis: Analysis of the Power Grid System Global Market size across various regions, nations, products, and applications.
- Market Segmentation Analysis: Identification of subsegments within the Power Grid System Global Market for effective categorization.
- Key Player Focus: Analysis of key market players to define their value share and competitiveness within the market.
- Growth Trends Analysis: Examination of individual market growth trends and future prospects.
- Market Contributions: Assessment of varied segment contributions to the overall market growth.
- Growth Drivers: Detailed description of key factors driving market growth, presenting potential opportunities.
- Industry Challenges: Comprehensive analysis of industry challenges and risks affecting the Power Grid System Global Market.
- Competitive Developments: Evaluation of competitive expansions, agreements, and new product launches within the market.
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