What is Super Grids Market?
A super grid is a wide-area transmission network which provides trans-continental and multinational energy transmission. It is mainly used for transmission of high volumes of electricity across great distances. It is also called as "mega grid". Super grids high voltage range which includes high-voltage direct current (HVDC) & Ultra high-voltage direct current (UHVDC) for long distance transmission. Advancement in energy infrastructure, surge in the usage of renewable energy sources are driving the demand for super grids. Geographically, North America is expected to gain huge demand for super grids followed by Europe and Asia Pacific. In the United States, projects like Tres Amigas converter station to connect Western, Rasyern, and the ERCOT electric grid are notable super grid (HVDC) projects. In Asia Pacific, China, India and Japan are showing considerable growth with rising investments in the HVDC transmission.
The market study is being classified, by Application (Transcontinental and Multinational) and major geographies with country level break-up.
ABB Ltd (Switzerland), Schneider Electric (France), Siemens AG (Germany), GE (United States), China Electric Power Equipment and Technology Co., Ltd. (China), KEI Industries Limited (India), Bharat Heavy Electricals Limited (India), American Superconductor Corporation (United States), AZZ Incorporated (United States) and Prysmian Group (Italy) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Super Grids market by Type, Application and Region.
On the basis of geography, the market of Super Grids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Electricity & Energy for Routinely Activities at End Use Industries
- Growing Infrastructure of Power Generation across the Globe
- More Inclination towards using Renewable Energy Source for Power Generation
- More preference for HVDC over UHVDC
- Requirement of Huge Investment
- Strengthen Government Regulations regarding Licensing
- Increasing Technological Advancements with Proliferation of Energy Flow and Management
- Augmenting Government Investments to Expands Energy Transmission and Distribution has Created Growth Opportunity
- Adoptions towards more Secure Energy Transmission Driving the Demand for Super Grids
- Adverse Impact of Bad Weather like Hurricane
- Lack of Large Size Circuit Breakers to Handle Extreme Voltage in Remote Locations
Market Leaders and some development strategies
In December 2018, Hitachi, Ltd. have completed the acquisition of ABB’ power grid business. Company has acquired 80% of stake in the power grid business of ABB. With this acquisition, company is able to deliver innovative energy with digital technology for sustainable solutions.
In July 2020, Hitachi, Ltd has launched “Hitachi ABB Power Grids Ltd.” This new company is able to provide energy solutions for smart cities, IT and Other industries. It will help to unlock new business model and contribute for company’s and society sustainable growth.
Key Target AudienceSuper Grids Providers, Component/ Raw Material Supplier, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Super Grids Market?
"Rising Demand for Electricity & Energy for Routinely Activities at End Use Industries
" is seen as one of major growth factors of Super Grids Market in years to come.
2. Can we have customized study for Super Grids Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.