The Increasing Adoption Of Renewable Energy Is Fueling The Growth Of The Market Due To Its Role In Driving Demand For Advanced Power Infrastructure And Enhancing Energy Transfer Efficiency Emerges as a Core Driver of the Power Infrastructure Market in 202

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What Is the Expected CAGR for the Power Infrastructure Market Through 2025?
Over the past few years, the power infrastructure sector has experienced substantial growth. The market size is projected to increase from $1474.16 billion in 2024 to $1559.08 billion in 2025, maintaining a Compound Annual Growth Rate (CAGR) of 5.8%. The primary factors contributing to growth during the historical period include a surge in electricity demand in urban areas, escalating industrialization in budding economies, increased usage of household devices, a rise in fossil fuel-based power generation, and extensive rural electrification campaigns.

What's the Projected Size of the Global Power Infrastructure Market by 2029?
The market for power infrastructure is predicted to experience significant expansion in the coming years, ballooning to a size of $1923.52 billion by 2029 with a compound annual growth rate of 5.4%. This projected growth during the forecast period is linked with several factors including a surge in electric vehicle charging networks, greater inclusion of renewable energy sources, rising demand for uninterrupted power, spread of smart grid technologies and soaring energy usage in data centers. The period is also expected to see key trends such as technological breakthroughs in grid management, evolution in energy storage solutions, research and progress in microgrids, the creation of digital substations, and shifts in transmission automation advancements.

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Top Growth Drivers in the Power Infrastructure Industry: What's Accelerating the Market?
The power infrastructure market is expected to flourish due to the rising adoption of renewable energy. This type of energy is derived from naturally recurring resources such as sunlight, wind, and water which are progressively being chosen over traditional sources of power due to environmental concerns. Power infrastructure plays a crucial role in the success of renewable energy by seamlessly transmitting, storing, and introducing fluctuating energy sources such as solar and wind into the grid for a steady power supply. As an example, data from the European Commission, a governing entity in Belgium, shows that the use of renewable energy stood at 24.5% of the EU's overall power consumption in 2023, an increase from 23.0% the previous year. This surge in the adoption of renewable energy is the key factor propelling the growth of the power infrastructure market.

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What Long-Term Trends Will Define the Future of the Power Infrastructure Market?
Key players in the power infrastructure sector are concentrating on creating cutting-edge solutions such as advanced battery energy storage technologies to improve both energy efficiency and grid dependability. These storage systems are state-of-the-art solutions designed to house extensive amounts of electricity in scalable, compact configurations that facilitate a more flexible power management and integration of renewable energy. Case in point, Powin Corporation, an energy storage technology business in the US, released a new product called the Powin Pod, in May 2024. Compared to Powin's earlier Centipede platform, the Powin Pod showcases a rise in energy density by half. It brings advanced safety protocols to the table, including compliance with strict fire prevention norms and liquid cooling, while also providing customers with increased reliability and cost savings. The Pod, which comes with Powin's proprietary software and long-term service, is presently open for worldwide orders and is set to begin deliveries by mid-2025, with manufacturing in the U.S. slated to commence in 2026.

What Are the Main Segments in the Power Infrastructure Market?
The power infrastructure market covered in this report is segmented -

1) By Type: Renewable, Non-Renewable
2) By Component: Generation, Transmission, Distribution
3) By Application: Industrial Power, Commercial Power, Residential Power
4) By End-User: Utilities, Independent Power Producers, Government, Other End-Users

Subsegments:
1) By Renewable: Solar Power, Wind Power, Hydropower, Biomass Energy, Geothermal Energy, Ocean Energy
2) By Non-Renewable: Coal-Based Power, Natural Gas Power, Nuclear Power, Oil-Based Power

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Which Top Companies are Driving Growth in the Power Infrastructure Market?
Major companies operating in the power infrastructure market are Hitachi Ltd., General Electric Company, Mitsubishi Electric Corporation, Siemens Energy, ABB Ltd., Eaton Corporation, Aptiv PLC, Quanta Services Inc., Prysmian Group, TBEA Co. Ltd., Nexans S.A, Tata Power Company Limited, NexTier Oilfield Solutions, Suzlon Energy Ltd., CG Power and Industrial Solutions Limited, Powell Industries Inc., Hexagon Purus, Efacec Power Solutions, Powin Energy, ENGIE UK

Which Regions Will Dominate the Power Infrastructure Market Through 2029?
Asia-Pacific was the largest region in the power infrastructure market in 2024. The regions covered in the power infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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