Press release
Worldwide Trends Review: The Rapid Transformation of the Electrical Grid Market
Electrical Grid Market
Projected Growth and Market Size of the Electrical Grid Market by 2030
The electrical grid market is anticipated to experience robust growth over the coming years, reaching a valuation of $379.05 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 6.5%. Factors propelling this upward trajectory include the increasing incorporation of renewable energy sources, widespread adoption of smart grid technologies, deployment of advanced energy storage systems, and enhanced digital monitoring and analytics aimed at optimizing grid performance. Additionally, government incentives promoting sustainable power infrastructure are contributing to market growth. Key trends expected to define the market during this period include grid modernization efforts, integration of renewable energy, broader implementation of advanced metering infrastructure, predictive maintenance, condition monitoring, and energy efficiency optimization.
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Prominent Players Driving the Electrical Grid Industry Forward
Several influential companies hold significant positions within the electrical grid market, including Schneider Electric SE, Mitsubishi Electric Corporation, Siemens Energy AG, GE Vernova Inc., ABB Ltd, Eaton Corporation plc, Hitachi Energy Ltd, Toshiba Energy Systems & Solutions Corporation, Prysmian Group S.p.A., Eskom Holdings SOC Ltd, Nexans SA, Power Grid Corporation of India Limited, RTE Réseau de Transport d'Électricité, Elia Group SA, Red Eléctrica de España S.A.U., KEC International Limited, Hyundai Electric & Energy Systems Co Ltd, CG Power and Industrial Solutions Limited, Sterlite Power Transmission Limited, LS Electric Co Ltd, Terna S.p.A., and Enel Grids S.r.l.
Strategic Acquisition Strengthening ABB's Electrical Grid Automation Capabilities
In December 2025, ABB, headquartered in Switzerland and specializing in electrification and automation, acquired Netcontrol, a Finland-based software firm, for an undisclosed sum. This acquisition is aimed at enhancing ABB's portfolio in electrical grid automation by incorporating Netcontrol's sophisticated energy management systems and distribution network control software. These technologies are designed to facilitate smarter, more resilient, and digitally optimized power grids by improving distribution management, outage monitoring, and real-time grid oversight for utility companies.
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Innovations and Future Trends Transforming the Electrical Grid Market Worldwide
Leading companies in the electrical grid sector are emphasizing the development of comprehensive digital solutions that cover the entire power lifecycle-from generation to end use. These integrated technologies enable real-time data sharing and automation to increase grid resilience, operational flexibility, and to better accommodate renewable energy sources. For example, in October 2024, Schneider Electric introduced new smart grid solutions at Enlit Europe 2024 aimed at addressing aging infrastructure challenges, climate change impacts, and net-zero goals. Key innovations include virtual substations created through the E4S Alliance paired with PowerLogic T300 RTU to optimize energy flows, a Net Zero Dashboard integrated with EcoStruxure ADMS/DERMS for emissions tracking and decarbonization metrics, and Distributed Energy Resource Management Systems (DERMS) deployed with partners like Elektrilevi to manage distributed renewables. Additional advancements involve AI-driven tools such as AiDash for resilience against extreme weather, comprehensive low-voltage network monitoring, collaborations for real-time operations like Unareti ADMS, subscription-based digital services for distribution system operators, and predictive maintenance technologies like Active Plus MV switchgear integrated with EcoCare. These end-to-end digital solutions are crucial in supporting utilities worldwide to integrate renewables, improve efficiency, and meet sustainability objectives.
Comprehensive Segmentation of the Electrical Grid Market
The report segments the electrical grid market across several dimensions:
By Component:
- Hardware
- Software
- Services
By Grid Type:
- Traditional Grid
- Smart Grid
- Microgrid
By Voltage Level:
- High Voltage (HV)
- Medium Voltage (MV)
- Low Voltage (LV)
By Application:
- Power Generation
- Power Transmission
- Power Distribution
By End User:
- Residential
- Commercial
- Industrial
- Utilities
Detailed subcategories within these segments include:
Hardware: transformers, switchgear, circuit breakers, cables and conductors
Software: grid management software, energy management software, fault detection software, monitoring and analytics software
Services: installation services, maintenance services, consulting services, system integration services
This thorough segmentation provides a clear understanding of the various facets within the electrical grid market, highlighting the diverse technologies and customer bases that contribute to its ongoing development.
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