Super Grid Market: Global Industry Analysis and Forecast (2024-2030) by Type, Applications and Region

Super Grid Market size was valued at USD 22.78 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 18.22% through 2024 to 2030, reaching nearly USD 73.52 Bn.
Super Grid Market Overview:
The Super Grid Market is expected to reach US$ 44.50 Bn. by 2030. A super grid is a large-scale transmission network, usually transcontinental or international that allows for the trade of large amounts of electricity across long distances. High Voltage grids, Extra High Voltage Grids, and Ultra High Voltage Grids are the types of super grids. Wind energy and solar energy are the applications of the super grid.To know about the Research Methodology:- Request Free Sample Report
Super Grid Market Dynamics:
The super grid market is rapidly increasing, primarily to an increase in the use of renewable energy sources combined with the integration of traditional grid-scale technologies. Super grids boost energy reliability, increase generation availability, and lower electricity costs across regions. However, raw material cost difficulties, particularly in emerging countries, are hampering the market growth. Additionally, lengthy licensing procedures for commercialization have heightened rivalry among enterprises participating in the global super grid market.

Super grids can also help to balance out excess electricity and fluctuation in local grids. As the share of VRE generators in the power mix grows, the variability and uncertainty provided by these resources have an increasingly negative impact on local system balances. Wind power generation, for example, has a regional character and may result in substantial regional power imbalances. Super grids, which can move power from locations with extra VRE generation to places with a supply deficiency, can help to alleviate such power imbalances. This allows system operators in different countries and regions to have more system flexibility by allowing them to draw or input power into the super grid network.

Transnational and transregional power networks are commonly referred to as super grids. As a result, their growth necessitates global political engagement on issues such as grid ownership, rights, and revenue distribution, among other things. They also necessitate regulatory cohesiveness across national borders in order to clearly define the roles and obligations of the parties in such networks. Power balancing at the distribution, regional, national, and international levels also necessitates complicated coordination amongst system operators across territories.
Super Grid Market Segment Analysis:
Based on the Type, the market is segmented into High Voltage grid, Extra High Voltage Grid, and Ultra High Voltage Grid. The Ultra High Voltage Grid segment is expected to hold the largest market share of xx% by 2030. This is due to the increasing demand for the Ultra High Voltage Grid in the world as it offers plenty of benefits.

China has employed ultra-high-voltage electricity transmission (UHV electricity transmission) to carry both alternating current (AC) and direct current (DC) electricity over vast distances between energy resources and consumers. In order to match generation to consumption demands while reducing transmission losses, both AC and DC capacity is still being developed. Improvements in decarbonization will result from the replacement of older, lower-efficiency production near the coast with more modern, a high-efficiency generation that emits less pollution and is closer to energy resources.

The fact that energy supplies are far away from load centers influenced China's decision to use UHV transmission. Although the majority of hydroelectric resources are in the west and coal is in the northwest, the east and south have massive loadings. UHV transmission is a suitable alternative for reducing transmission losses to a manageable level. These are the key factors that are expected to drive the growth of the Ultra High Voltage Grid segment in the Super Grid market during the forecast period.

Based on the Applications, the market is segmented into Wind Energy, Solar Energy, and Others. The solar energy segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. This is due to the increasing demand for super grids from solar energy companies as the super grid provides lots of benefits.

Grid-tied solar power systems are solar power systems that are connected to the electrical grid and do not require battery backup. In the United States, they are the most prevalent type of solar panel system. Despite the increased interest in battery solutions, the majority of homeowners that go solar today opt for a grid-tied system on their roofs.
Super Grid Market Regional Insights:
The North American region is expected to dominate the Super Grid Market during the forecast period 2024-2030. The North American region is expected to hold the largest market share of xx% by 2030. North America, particularly the United States, is one of the most key market for the super grid. Some of the major super grid (HVDC) projects in the United States include the Tres Amigas converter station and others with the basic objective of connecting Western, Rasyern, and the ERCOT power grid. These are the factors that are expected to drive the growth of the North American region in the Super Grid Market during the forecast period 2024-2030.

The Europe region is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Friends of Supergrid, a European organization currently developing a long-term plan to connect Europe and North Africa using highly efficient transmission infrastructure, is expected to play a vital role in the market's development in Europe. Super grid developments and HVDC investment are expected to boost Europe's renewable energy ambitions for 2030.

The objective of the report is to present a comprehensive analysis of the Global Super Grid Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Super Grid Market dynamic, structure by analyzing the market segments and projecting the Global Super Grid Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Super Grid Market make the report investor’s guide.
Super Grid Market Scope: Inquire before buying



Global  Super Grid Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 22.78 Bn.


Forecast Period 2024 to 2030 CAGR:
18.22%
Market Size in 2030:
USD 73.52 Bn.


 Segments Covered:
by Type
High Voltage grid
Extra High Voltage Grid
Ultra High Voltage Grid


by Applications
Wind Energy
Solar Energy
Others



Super Grid Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Super Grid Market, Key Players
1. ABB
2. Alstom S.A
3. Schneider Electric
4. Siemens AG
5. Alcan Cable
6. China Electric Power Equipment and Technology Co., Ltd. (CET)
7. KEI Industries Ltd.
8. Bharat Heavy Electricals limited
9. American Superconductor Corporation
10. AZZ Incorporated
11. KSolare Energy Private Limited
12. ANTRAKS Future Today
Frequently Asked Questions:
1] Which region is expected to hold the highest share in the Super Grid Market?
Ans. North America is expected to hold the highest share in the Super Grid Market.

2] Who are the top key players in the Super Grid Market?
Ans. ABB, Alstom S.A, Schneider Electric, Siemens AG, and Alcan Cable are the top key players in the Super Grid Market.

3] Which segment is expected to hold the largest market share in the Super Grid Market by 2030?
Ans. The Ultra High Voltage Grid segment is expected to hold the largest market share in the Super Grid Market by 2030.

4] What is the market size of the Super Grid Market by 2030?
Ans. The market size of the Super Grid Market is expected to reach USD 73.52 Bn. by 2030.

5] What was the market size of the Super Grid Market in 2023?
Ans. The market size of the Super Grid Market was worth USD 22.78 Bn. in 2023.