Press release
Leading Companies Enhancing Their Presence in the Super Grid Market
Super Grid Market
Projected Growth Trajectory of the Super Grid Market
The super grid market is expected to expand significantly in the coming years, reaching a valuation of $38.68 billion by 2030. This growth corresponds to a robust compound annual growth rate (CAGR) of 12.2%. Key factors driving this surge include substantial investments in offshore wind projects, scaling up of green hydrogen production, ongoing energy transition and decarbonization commitments, increased funding for smart grid and automation technologies, and strengthened regional energy security efforts. Important trends that will influence the market during the forecast period encompass the expansion of cross-border grid interconnections, deployment of ultra-high voltage transmission systems, development of renewable energy corridors, advancements in grid stability and power flow control technologies, along with integrating large-scale energy storage solutions.
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Leading Companies Driving the Super Grid Market Forward
The super grid landscape features several prominent industry leaders, including State Grid Corporation of China, China Southern Power Grid, Hitachi Energy, Schneider Electric SE, Mitsubishi Electric Corporation, Siemens Energy AG, General Electric Grid Solutions, ABB Ltd, Sumitomo Electric Industries, Larsen & Toubro Power Transmission & Distribution, Toshiba Energy Systems & Solutions, National Grid plc, Prysmian Group, ZTT Group, Fuji Electric Co. Ltd., Nexans SA, RTE Réseau de Transport d'Électricité, Power Grid Corporation of India Limited, Terna S.p.A., Elia Group, and NKT A/S. These companies play a pivotal role in advancing technology and infrastructure to meet global super grid demands.
Strategic Acquisition Enhances Hitachi Energy's Capabilities
In January 2024, Hitachi Energy, based in Switzerland and known for its expertise in high-voltage direct current (HVDC) systems, power grid infrastructure, and integration solutions, acquired COET, an Italian provider specializing in high-power converters, DC traction systems for railways, electric mobility power equipment, and AC/DC industrial and grid-edge solutions. Although the financial details were not disclosed, this acquisition aims to boost Hitachi Energy's technological strength and manufacturing capacity in high-power electronics. This move supports the company's goal to expand grid-edge solutions and facilitate scalable electrification aligned with next-generation super grid and eMobility infrastructure needs.
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Innovations in Transmission Technologies Leading Industry Trends
Companies within the super grid industry are concentrating on novel product developments such as high-voltage direct current (HVDC) transmission systems. These advanced systems enable efficient long-distance and multinational electricity transfer with reduced losses and better control compared to traditional alternating current (AC) systems. HVDC technology is especially suited for cross-border grid interconnections, enhancing grid stability and energy management. For example, in June 2023, Hitachi Energy secured a contract to provide HVDC converter stations for the France-Spain Biscay Gulf interconnection. This subsea link can transmit 2,000 MW of electricity over roughly 400 kilometers, featuring compact converter technology, minimal electrical losses, and improved power quality.
Market Segmentation Overview of the Global Super Grid Industry
This report divides the super grid market into several key segments:
1) Components: Converters, Transformers, High Voltage Cables, Energy Storage, and Other Components
2) Types: High Voltage Grid, Extra High Voltage Grid, Ultra High Voltage Grid, and Other Grid Types
3) Voltage Levels: High Voltage, Extra High Voltage, and Ultra High Voltage
4) Applications: Renewable Energy Integration, Grid Interconnection, Offshore Wind Power, and Other Applications
5) End Users: Utilities, Industrial, Commercial, and Other End Users
Subdivisions within these categories further detail:
- Converters include High Voltage Direct Current Converters, Voltage Source Converters, Line Commutated Converters, and Modular Multilevel Converters.
- Transformers cover Power Transformers, Converter Transformers, Phase Shifting Transformers, and Auto Transformers.
- High Voltage Cables comprise High Voltage Direct Current Cables, High Voltage Alternating Current Cables, Submarine Power Cables, and Underground Power Cables.
- Energy Storage options include Battery Energy Storage Systems, Pumped Hydro Energy Storage, Compressed Air Energy Storage, and Flywheel Energy Storage.
- Other Components involve Flexible Alternating Current Transmission Systems Controllers, Grid Protection and Control Equipment, Power Quality Management Devices, and Monitoring and Diagnostic Systems.
This detailed segmentation provides a comprehensive understanding of the components and applications driving the super grid market's expansion.
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