Super Grid Market - Global Industry Analysis 2020

Increasing global demand for energy is anticipated to accelerate growth in the global super grid market. Renewable energy sources are abundant, emission-free and have a large potential to lead to a low carbon future. However, these energy sources are located far from the cities and these increases the distance of transmission lines to carry power from remotely located renewable energy sources to distribution lines. Increasing need to integrate remotely located renewable energy sources to the conventional grid is one of the major drivers of growth in the super grid market.

Super grid is a technology that allows transmission of power in high volume over long distances. They are sometimes also referred to as “mega grid”. Advancement in technologies is expected to augment growth in the super grid market. The conventional grid infrastructure in most of the countries across the globe is ageing and needs modernization. Moreover, a need to improve energy security of the grid further increases demand for a more secure grids.

GET PDF BROCHURE FOR MORE PROFESSIONAL AND TECH-NICAL INSIGHTS: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3905

The above mentioned factors are anticipated to play a key role in growth of the super grid market. A lack of large-sized circuit breakers having a capability to handle extreme voltages for transfer of power to remote locations has been one of the major barriers for development of schemes designed to harvest power generated from solar, offshore wind farms, remote hydroelectric plants. Development of heavy-duty circuit breakers shall allow integration of remote DC output in conventional grids which are generally based on alternating current (AC) systems. Transmission of power using high voltage direct current (HVDC) cables will enable linking of grid at country and regional level. Significant government spending in grid-scaling using HVDC transmission coupled with numerous numbers of planned projects using HVDC cables are expected to propel growth in the super grid market.

Apart from the above factors, a super grid is expected to accelerate deployment of distributed renewable energy generation sources. This is likely to reduce transmission losses, which further reduces electricity cost and leads to increased competitiveness. Rising cost of raw material and delayed licensing procedures for commercialization of these technologies may hamper growth in the global super grid market. However, with rapid technological advances and increasing government interest in the deployment of these technologies to expand their transmission and distribution infrastructure, the market is likely to grow at substantial rates in the future.

The above factors are likely to offset the restraints of growth in the market. The installation of super grid will require high investment in transmission infrastructure and will lead to several operational challenges for the grid such as management of large flows of energy and maintenance of the grid. However, considering the advantages of renewable energy resources integration, lower transmission losses and lower electricity cost, investments in efficient national transmission grid could prove beneficial for countries across the globe.

Regionally, the market can be segmented by geographies such as North America, Europe, Asia Pacific, and Rest of the World (RoW). North America, especially the U.S. is one of the largest markets for the super grid. Projects such as Tres Amigas converter station and others with a basic purpose to connect Western, Rasyern, and the ERCOT electric grid are some of the notable super grid (HVDC) projects in the U.S. Currently, in Europe, an organization named Friends of Supergrid is devising a long-term plan to connect Europe and North Africa using highly efficient transmission infrastructure is likely to play a key role in development of the market in the Europe. Developments of super grid and investment in HVDC are further likely to support Europe’s renewable energy goals 2030. In Asia Pacific, countries such as Japan, China, and India have shown considerable interest and invested in the HVDC transmission.

Some of the key players in the global super grid market include ABB, Alstom S.A., Schneider Electric, and Siemens AG.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us:-

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
Visit Blog: http://globalresearchmarket.blogspot.in/

This release was published on openPR.