Power Grid Market Size and Share Forecast Outlook (2024 to 2034)

In 2024, the global power grid market size is projected to be USD 300 billion. The power grid system market is predicted to surpass USD 471 billion by 2034 and is expected to advance at a CAGR of 4.6% between 2024 and 2034.

The primary drivers anticipated to escalate the electric grid market are the expanding energy requirements of the industrial and residential sectors, the shift toward renewable energy sources, and the adoption of new technologies.

Decentralized power generation, wherein smaller-scale power generation facilities are situated closer to end customers, is an increasingly popular concept. The goal of boosting energy efficiency and reducing transmission and distribution losses, along with the development of renewable energy technologies, is propelling the power grid market trend.

Attributes Details
Market Value for 2024 USD 300 billion
Market Value for 2034 USD 471 billion
Market CAGR from 2024 to 2034 4.6%

Growth Drivers Fueling the Power Grid Industry Expansion

  • The electric grid system market is expanding due to the growing emphasis on using renewable energy. To mitigate the erratic nature of renewable energy generation, utilities and governments are investing in grid upgrades.
  • The power grid system market is influenced by the expansion of decentralized power generation, which includes small-scale solar, wind, and energy storage technologies. Advanced grid management technologies are necessary for the integration of DERs.
  • Government laws and policies significantly foster the electric grid market. The expansion of the power grid market is fueled by policies, rules, and incentives that promote infrastructure investment, sustainable energy adoption, and grid upgrading.
  • The world's population is growing, which spurs energy demand. To accommodate the changing needs of densely populated areas, there is a need for developing and upgrading power grids.
Attributes Details
Market Value for 2019 USD 224 billion
Market Value for 2023 USD 283.8 billion
Market CAGR from 2019 to 2023 6.1%

Key Restraints Impacting the Growth of the Power Grid Market

  • Complying with strict government regulations and compliance requirements presents many difficulties, hindering the growth of the power grid market. Regulation changes necessitate expensive infrastructure and operational modifications.
  • Cybersecurity risks are a key concern due to the increasing digitization and interconnection of power grid equipment. Businesses need to invest in robust cybersecurity solutions to protect against cyberattacks, data breaches, and system interruptions.
  • The electric grid is evolving rapidly due to technological breakthroughs such as distributed generation and smart grid solutions. To stay ahead of the competition and meet expectations, embracing technical advancements and investing in research and development are crucial. This constrains the market growth.
  • Aging infrastructure and a lack of investment in power grid upgrades have hindered the capacity and efficiency of power transmission and distribution systems, resulting in issues with capacity, reliability, and maintenance expenses.

Power Grid Industry Analysis by Top Investment Segments

The segmented market analysis of the power grid is included in the following subsection. Based on comprehensive studies, the cables sector leads the component category, and the conventional power segment commands the power source category.

Cables Segment Steer Power Grid Market Growth

Attributes Details
Top Component Cables
CAGR % 2019 to 2023 5.8%
CAGR % 2024 to End of Forecast (2034) 4.4%
  • As the cornerstone of power distribution networks, cables represent a long-term investment that aligns with the sustainability aspirations of modern enterprises.
  • The increasing demand for reliable and secure power transmission requires the adoption of cables, contributing to the continuous growth in power grid sales.
  • With advancements in cable technology, electric grid manufacturers are expected to benefit from increased transmission capacity, energy savings, and improved grid performance.
  • The cables segment is scalable and flexible, accommodating enterprises' changing needs while ensuring a stable power grid infrastructure.

Conventional Power Segment’s Role in Power Grid Sales Supremacy

Attributes Details
Top Power Source Conventional Power
CAGR % 2019 to 2023 5.5%
CAGR % 2024 to End of Forecast (2034) 4.1%
  • The adaptability of conventional power sources enables swift adjustments to demand swings, maintaining resource efficiency.
  • Conventional power provides a steady and reliable supply of electricity, which is critical for satisfying consumer demand for the power grid.
  • Regulatory frameworks and market structures frequently encourage the deployment and expansion of conventional power generation, resulting in a stable economic climate.

Analysis of Top Countries Developing and Investing in Power Grid Infrastructure

The power grid market is elaborated in the tables, which focus on the leading economies of South Korea, China, the United States, the United Kingdom, and Japan, along with their respective CAGRs. A comprehensive evaluation demonstrates that the United Kingdom has enormous opportunities.

Renewable Energy Revolution in South Korea Advances toward Sustainable Power Grid

Country South Korea
HCAGR (2019 to 2023) 11.7%
CAGR (2024 to 2034) 6.4%
  • Extensive government investment in smart grid technology fosters a strong and effective energy distribution network, benefiting South Korea's power grid market.
  • Adopting renewable energy resources, such as wind and solar power, promotes the sustainability and resilience of South Korea's electrical system while creating opportunities for power grid solutions.
  • The electric grid market in South Korea, which places a high priority on energy security, features cutting-edge grid monitoring and control systems that ensure dependability and reduce downtime.

Thriving Power Grid Market and Renewable Energy Ambitions in China

Country China
HCAGR (2019 to 2023) 8.2%
CAGR (2024 to 2034) 6.1%
  • The ultra-high-voltage transmission infrastructure, which enables long-distance power transmission with low losses, serves as the catalyst behind the huge investments in China's electric grid market.
  • By integrating big data analytics and artificial intelligence, China's power grid can now perform predictive maintenance, reducing operating costs and downtime.
  • In China, the demand for power grid solutions is bolstered by rapid urbanization, presenting potential for companies that provide demand-side management and grid optimization technology.

The United Kingdom's Journey toward a Sustainable Energy Future

Country United Kingdom
HCAGR (2019 to 2023) 9.0%
CAGR (2024 to 2034) 5.5%
  • The need for intelligent charging infrastructure and vehicle-to-grid (V2G) solutions is increasing in the United Kingdom due to the integration of electric vehicles into the grid environment.
  • Local energy producers and decentralized power grid solutions in the United Kingdom can benefit from initiatives supporting community energy projects and peer-to-peer energy trading programs.
  • Grid-scale energy storage and demand response technologies are receiving heavy investment as the United Kingdom's power grid market embraces the shift to a low-carbon energy system.

Transformative Landscape of the United States Power Grid Market

Country United States
HCAGR (2019 to 2023) 6.8%
CAGR (2024 to 2034) 5.0%
  • Investments in grid cybersecurity systems in the United States are influenced by stringent regulatory criteria aimed at protecting the integrity and reliability of the electric grid.
  • Grid modernization programs in the United States aim to improve grid flexibility and reliability through the adoption of advanced sensors and power grid automation technologies.
  • The growing emphasis on grid resilience in the face of natural catastrophes and cyber threats creates potential for power grid manufacturers in the United States that offer grid-hardening solutions and disaster recovery services.

Japan’s Journey toward a Low-carbon Energy Future

Country Japan
HCAGR (2019 to 2023) 3.6%
CAGR (2024 to 2034) 3.7%
  • Japan's goal of achieving carbon neutrality encourages investment in grid-connected renewables and energy storage, necessitating grid upgrading and integration solutions.
  • The adoption of modern power grid automation technologies improves Japan's power grid reliability and efficiency, enabling faster problem diagnosis and restoration.
  • Japan's power grid market prioritizes resilience to natural catastrophes, resulting in investments in grid hardening and disaster recovery technologies to ensure continuous power delivery.

Competitive Landscape and Strategic Developments in the Power Grid Sector

A few prominent power grid manufacturers drive innovation and shape the sector's direction. Renowned for their advanced technology and dependability, ABB, Siemens, and Schneider Electric lead the way. These power grid providers utilize their vast experience and global reach to offer innovative power grid management solutions.

Newcomers to the electric grid market, such as General Electric and Mitsubishi Electric, are making waves with their innovative technology and disrupting long-standing norms. Their quick thinking and inventiveness contribute to the market's intense competition.

Localized expertise and customized solutions are helping regional power grid suppliers like Toshiba and Hyundai Electric & Energy Systems carve out niches in the industry. Their presence fosters a more diverse and healthier competitive environment.

Specialized power grid manufacturers, like Hitachi ABB Power Grids, offer tailored goods and services to address the industry's evolving demands. They focus on specialty markets such as digitalization and grid automation.

Power grid developments and advancements are occurring rapidly, driving sustainability, dependability, and efficiency in the global energy infrastructure as these industry heavyweights compete for market share and technological prowess.

Recent Developments

Company Details
GE Renewable Energy HYpact switchgear was introduced by GE Renewable Energy in November 2022. It applies to several situations, including onshore wind substations and mobile substations. It also reduces operational costs and environmental impact for consumers while increasing the predictability of the electrical network.
Siemens Siemens and Eplan established a strategic alliance in October 2022 to enhance their cooperation in software solutions for the infrastructure and industrial sectors. As a result of this arrangement, Siemens' Electrical Products business unit joined the Eplan Partner Network as a strategic partner. Improved product coordination between the two businesses is likely to enable switchgear makers and electrical planners to access optimal solutions.
Petrobras In January 2022, Petrobras informed TechnipFMC about a subsea EPCI project for the greenfield extension of its Bzios 6 field. The agreement covered pipe end connections, stiff jumpers, flexible and rigid pipes, umbilicals, anchoring devices, and umbilical terminal components.
Nexans Nexans was granted a concession under the framework contract by South Fork Winds, a joint venture between rested and Eversource, to manufacture around 110 kilometers of high-voltage offshore cables in January 2022.
Prysmian Corporation According to Prysmian Corporation, a cutting-edge submarine coax cable plant is scheduled to open in February 2022 at the Brayton Point location in Massachusetts, United States. The company is going to be able to help consumers in the United States because of the new manufacturing.

Leading Manufacturers Profiled in the Power Grid Market Report

  • ABB
  • General Electric
  • Schneider Electric
  • Mitsubishi Electric
  • Siemens
  • Hitachi Energy
  • Eaton
  • Havells
  • Hubbell
  • Fuji Electric
  • Sumitomo Electric

Key Coverage in the Power Grid Market Report

  • Power Grid Market Revenue and Trends
  • Power Grid System Market Size, Current Insights, and Demographic Trends
  • Adjacent Study on the Power Grid Market, Power Management System Market, and Power Transmission Line and Tower Market
  • Demand for Power Grid in South Korea
  • Opportunity Analysis of Power Grid in China
  • Strategic Blueprints for Power Grid Manufacturers

Top Segments Studied in the Power Grid Market

By Component:

  • Cables
  • Variables Speed drives
  • Transformers
  • Switchgear
  • Others

By Power Source:

  • Conventional Power
  • Renewable Power
  • Nuclear Power
  • Hybrid Power

By Application:

  • Generation
  • Transmission
  • Distribution

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East and Asia

Table of Content

  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
  • 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component
    • 5.1. Cables
    • 5.2. Variable Speed Drives
    • 5.3. Transformers
    • 5.4. Switchgear
    • 5.5. Others
  • 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Power Source
    • 6.1. Conventional Power
    • 6.2. Renewable Power
    • 6.3. Nuclear Power
    • 6.4. Hybrid Power
  • 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
    • 7.1. Generation
    • 7.2. Transmission
    • 7.3. Distribution
  • 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Western Europe
    • 8.4. Eastern Europe
    • 8.5. South Asia and Pacific
    • 8.6. East Asia
    • 8.7. Middle East and Africa
  • 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 16. Key Countries Market Analysis
  • 17. Market Structure Analysis
  • 18. Competition Analysis
    • 18.1. ABB
    • 18.2. General Electric
    • 18.3. Schneider Electric
    • 18.4. Mitsubishi Electric
    • 18.5. Siemens
    • 18.6. Hitachi Energy
    • 18.7. Eaton
    • 18.8. Havells
    • 18.9. Hubbell
    • 18.10. Fuji Electric
    • 18.11. Sumitomo Electric
    • 18.12. Hyundai Electric & Energy Systems Co.
    • 18.13. Toshiba Energy Systems & Solutions
    • 18.14. Southwire Company
  • 19. Assumptions & Acronyms Used
  • 20. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034

Table 2: Global Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 3: Global Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 4: Global Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 5: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 6: North America Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 7: North America Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 8: North America Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 10: Latin America Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 11: Latin America Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 12: Latin America Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 13: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 14: Western Europe Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 15: Western Europe Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 16: Western Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 17: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 18: Eastern Europe Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 19: Eastern Europe Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 20: Eastern Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 21: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 22: South Asia and Pacific Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 23: South Asia and Pacific Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 24: South Asia and Pacific Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 25: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 26: East Asia Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 27: East Asia Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 28: East Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034

Table 29: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 30: Middle East and Africa Market Value (US$ Million) Forecast by Component, 2019 to 2034

Table 31: Middle East and Africa Market Value (US$ Million) Forecast by Power Source, 2019 to 2034

Table 32: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2019 to 2034

List of Figures

Figure 1: Global Market Value (US$ Million) by Component, 2024 to 2034

Figure 2: Global Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 3: Global Market Value (US$ Million) by Application, 2024 to 2034

Figure 4: Global Market Value (US$ Million) by Region, 2024 to 2034

Figure 5: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034

Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034

Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034

Figure 8: Global Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 9: Global Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 10: Global Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 11: Global Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 12: Global Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 13: Global Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 14: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 15: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 16: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 17: Global Market Attractiveness by Component, 2024 to 2034

Figure 18: Global Market Attractiveness by Power Source, 2024 to 2034

Figure 19: Global Market Attractiveness by Application, 2024 to 2034

Figure 20: Global Market Attractiveness by Region, 2024 to 2034

Figure 21: North America Market Value (US$ Million) by Component, 2024 to 2034

Figure 22: North America Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 23: North America Market Value (US$ Million) by Application, 2024 to 2034

Figure 24: North America Market Value (US$ Million) by Country, 2024 to 2034

Figure 25: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 28: North America Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 29: North America Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 30: North America Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 31: North America Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 32: North America Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 33: North America Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 34: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 35: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 36: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 37: North America Market Attractiveness by Component, 2024 to 2034

Figure 38: North America Market Attractiveness by Power Source, 2024 to 2034

Figure 39: North America Market Attractiveness by Application, 2024 to 2034

Figure 40: North America Market Attractiveness by Country, 2024 to 2034

Figure 41: Latin America Market Value (US$ Million) by Component, 2024 to 2034

Figure 42: Latin America Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 43: Latin America Market Value (US$ Million) by Application, 2024 to 2034

Figure 44: Latin America Market Value (US$ Million) by Country, 2024 to 2034

Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 48: Latin America Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 49: Latin America Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 51: Latin America Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 52: Latin America Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 54: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 55: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 57: Latin America Market Attractiveness by Component, 2024 to 2034

Figure 58: Latin America Market Attractiveness by Power Source, 2024 to 2034

Figure 59: Latin America Market Attractiveness by Application, 2024 to 2034

Figure 60: Latin America Market Attractiveness by Country, 2024 to 2034

Figure 61: Western Europe Market Value (US$ Million) by Component, 2024 to 2034

Figure 62: Western Europe Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 63: Western Europe Market Value (US$ Million) by Application, 2024 to 2034

Figure 64: Western Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 65: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 66: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 67: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 68: Western Europe Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 69: Western Europe Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 70: Western Europe Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 71: Western Europe Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 72: Western Europe Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 73: Western Europe Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 74: Western Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 75: Western Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 76: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 77: Western Europe Market Attractiveness by Component, 2024 to 2034

Figure 78: Western Europe Market Attractiveness by Power Source, 2024 to 2034

Figure 79: Western Europe Market Attractiveness by Application, 2024 to 2034

Figure 80: Western Europe Market Attractiveness by Country, 2024 to 2034

Figure 81: Eastern Europe Market Value (US$ Million) by Component, 2024 to 2034

Figure 82: Eastern Europe Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 83: Eastern Europe Market Value (US$ Million) by Application, 2024 to 2034

Figure 84: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 85: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 88: Eastern Europe Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 89: Eastern Europe Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 90: Eastern Europe Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 91: Eastern Europe Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 92: Eastern Europe Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 93: Eastern Europe Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 94: Eastern Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 95: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 96: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 97: Eastern Europe Market Attractiveness by Component, 2024 to 2034

Figure 98: Eastern Europe Market Attractiveness by Power Source, 2024 to 2034

Figure 99: Eastern Europe Market Attractiveness by Application, 2024 to 2034

Figure 100: Eastern Europe Market Attractiveness by Country, 2024 to 2034

Figure 101: South Asia and Pacific Market Value (US$ Million) by Component, 2024 to 2034

Figure 102: South Asia and Pacific Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 103: South Asia and Pacific Market Value (US$ Million) by Application, 2024 to 2034

Figure 104: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034

Figure 105: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 106: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 107: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 108: South Asia and Pacific Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 109: South Asia and Pacific Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 110: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 111: South Asia and Pacific Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 112: South Asia and Pacific Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 113: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 114: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 115: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 116: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 117: South Asia and Pacific Market Attractiveness by Component, 2024 to 2034

Figure 118: South Asia and Pacific Market Attractiveness by Power Source, 2024 to 2034

Figure 119: South Asia and Pacific Market Attractiveness by Application, 2024 to 2034

Figure 120: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034

Figure 121: East Asia Market Value (US$ Million) by Component, 2024 to 2034

Figure 122: East Asia Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 123: East Asia Market Value (US$ Million) by Application, 2024 to 2034

Figure 124: East Asia Market Value (US$ Million) by Country, 2024 to 2034

Figure 125: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 126: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 127: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 128: East Asia Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 129: East Asia Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 130: East Asia Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 131: East Asia Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 132: East Asia Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 133: East Asia Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 134: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 135: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 136: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 137: East Asia Market Attractiveness by Component, 2024 to 2034

Figure 138: East Asia Market Attractiveness by Power Source, 2024 to 2034

Figure 139: East Asia Market Attractiveness by Application, 2024 to 2034

Figure 140: East Asia Market Attractiveness by Country, 2024 to 2034

Figure 141: Middle East and Africa Market Value (US$ Million) by Component, 2024 to 2034

Figure 142: Middle East and Africa Market Value (US$ Million) by Power Source, 2024 to 2034

Figure 143: Middle East and Africa Market Value (US$ Million) by Application, 2024 to 2034

Figure 144: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034

Figure 145: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 146: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 147: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 148: Middle East and Africa Market Value (US$ Million) Analysis by Component, 2019 to 2034

Figure 149: Middle East and Africa Market Value Share (%) and BPS Analysis by Component, 2024 to 2034

Figure 150: Middle East and Africa Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034

Figure 151: Middle East and Africa Market Value (US$ Million) Analysis by Power Source, 2019 to 2034

Figure 152: Middle East and Africa Market Value Share (%) and BPS Analysis by Power Source, 2024 to 2034

Figure 153: Middle East and Africa Market Y-o-Y Growth (%) Projections by Power Source, 2024 to 2034

Figure 154: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2019 to 2034

Figure 155: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2024 to 2034

Figure 156: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034

Figure 157: Middle East and Africa Market Attractiveness by Component, 2024 to 2034

Figure 158: Middle East and Africa Market Attractiveness by Power Source, 2024 to 2034

Figure 159: Middle East and Africa Market Attractiveness by Application, 2024 to 2034

Figure 160: Middle East and Africa Market Attractiveness by Country, 2024 to 2034

Frequently Asked Questions

What is the Current Power Grid Market Valuation?

The market is estimated to secure a valuation of USD 300 billion in 2024.

How Big Can the Power Grid Market Be by 2034?

The market is projected to reach USD 471 billion by 2034.

What is the Growth Potential of the Power Grid Market?

Through 2034, the market is forecasted to expand at a 4.6% CAGR.

What Was the Historical Outlook of The Power Grid Market?

From 2019 to 2023, the market recorded a 6.1% CAGR.

Which Component Segment will Dominate in the Power Grid Market?

The cables sector is anticipated to develop at a CAGR of 4.4% from 2024 to 2034.

Which Power Source Segment will Lead the Power Grid Market?

The conventional power sector is likely to accelerate at a CAGR of 4.1% through 2034.

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