Electrical Power System Market - Forecast(2024 - 2030)
Electrical Power System Market Overview
Today’s electric grids are characterized by their size and complexity as well as new technologies and techniques for power transmission, distribution, protection, and measurement. These power systems can operate on high power, medium power, or low power systems. They incorporate conductors, actuators, reactors, SCADA systems, and many more. The efficient design and continuous modernization of plants is a vital to achieve sustainable success in all industries. The global Electrical Power System Market is estimated to grow at a CAGR of XX% during the forecast period 2018–2023.
The increasing demand for electricity from hotels, data centers, offices, and hospitals is anticipated to bring about distributed automation solutions in the commercial and residential industries. Apart from these sectors, the constant rapid development in automation and large investments in energy verticals, such as oil & gas, are also the prime driving factors behind the industry growth. North America has been holding the largest share of the market since 2015 and is projected to continue its dominance during the forecast period 2018–2024. The U.S. market is projected to experience steady growth over the forecast period due to the increased implementation of refurbishment projects and improvements in its existing power infrastructure.
Electrical Power System Market Outlook
The Electric Power System market is segmented into industrial, commercial, and residential, of which the industrial application segment held the maximum share in 2017. This is due to the growing need for installation of distribution automation systems in utilities across the globe to enhance grid efficiency. Apart from utilities, the industries such as marine, oil & gas, construction, and mining are projected to outgrow the distribution system market growth over the forecast period.
The objective of this report is to provide participants with a basic understanding of power systems. The understanding will enable them to make the best decisions across the lifecycle of their plant and equipment. Nowadays, the companies are replacing the old transmission setups with automated distributed power setups, hence driving the demand for the electricity utilities. As per IndustryARC analysis, the countries such as China and India are projected to spur the demand for electricity. In addition, the growing population and increasing commercial and residential buildings are expected to spur the electricity demand.
Electrical Power System Market Growth Drivers
The upcoming technologies are expected to help the power systems businesses in subsiding power outages and increasing the efficiency of the existing power distribution systems. The private distribution utilities & service providers, governments, and equipment manufacturers are trying to integrate their current technologies and develop modern ones at a broader range through R&D. The effective utilization of automation distribution systems will play a major role in the growth of the market.
Electrical Power System Market Challenges
The power sector is facing several problems in all the three basic areas of its functioning, which include generation, transmission, and distribution. The most common problem in the power sector is the unavailability of the distribution segment. There is a technical glitch during the transmission of power, along with the loss of power during the transmission. The financial condition of the distribution companies specific to the states also play an important role in both generation and distribution. Another challenge to look upon is that there are companies facing a major challenge in terms of not having a strong investment background, curtailing their capability to generate and distribute adequate power to the areas.
Electrical Power System Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Electrical Power System Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the subsystem types in the Electric Power System market and their specific applications in different end user verticals.
Electrical Power System Market Report: Industry Coverage
Phase Types of Electrical Power System: Single Phase, Three Phase
Electrical Power System by Operating Voltage: Low Power, Medium Power, High Power
Electrical Power System by Voltage Rating: <130KV, 131 - 200KV, 201 - 745KV, 746kV & Above
Electrical Power System by Subsystem: Electric Power Generation, Electric Power Transmission, Electric Power Distribution
Electrical Power System by Components: Conductors, Electrical Buses, Static VAR Compensator, SCADA Systems, Capacitors, Reactors, Others
Electrical Power System by Application: Industrial Consumer, Commercial Consumer, Residential Consumer
Electrical Power System by End-User: Mining & Minerals, Agriculture, Construction, Power and Energy, Manufacturing, Others
The Electrical Power System Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- The Middle East and Africa: Israel, South Africa, Saudi Arabia
Electrical Power System Market Key Players Perspective
Presently the market is characterized by strong competition with the presence of a few major global players holding a significant market share. For example, GE announced its completion of the acquisition of Alstom’s power and grid businesses. This was GE's largest-ever acquisition till date.
Some of the other key players mentioned in this report are ABB Ltd., Eaton Corporation, General Electric, Itron, Inc., Schneider Electric, SEL, and Siemens AG.
Electrical Power System Market Trends
- Major developments in small generators are being witnessed in recent years. These small generators offer almost the same benefits in terms of cost and efficiency as that of large generators.
- Recently a significant change in the traditional power model generation has been seen in the Gulf Cooperation Council (GCC) region. The integrated smart power system across the GCC region is becoming foreseeable as the industry is witnessing a massive change in the power generation and distribution. The smart grid enables to move certain power usage or have a differential pricing mechanism so that user know when and how much power to utilize.
1. Electrical Power System Market – Market Overviews
1.1. Definitions and Scope
2. Electrical Power System Market – Executive Summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by Type of Application
2.3. Key Trends Segmented by Geography
2.4. Electrical Power System Market
2.5. Comparative analysis
2.5.1. Product Benchmarking – Top 10 Companies
2.5.2. Top 5 Financials Analysis
2.5.3. Market Value Split by Top 10 Companies
2.5.4. Patent Analysis – Top 10 Companies
2.5.5. Pricing Analysis
3. Electrical Power System Market – Startup Companies Scenario
3.1. Top 10 Startup Company Analysis by
3.1.1. Investment
3.1.2. Revenue
3.1.3. Market Shares
3.1.4. Market Size and Application Analysis
3.1.5. Venture Capital and Funding Scenario
4. Electrical Power System Market – Industry Market Entry Scenario Premium
4.1. Regulatory Framework Overview
4.2. New Business and Ease of Doing Business Index
4.3. Case Studies of Successful Ventures
4.4. Customer Analysis – Top 10 Companies
5. Electrical Power System Market — Market Forces
5.1. Drivers
5.2. Constraints
5.3. Challenges
5.4. Porter’s Five Force Model
5.4.1. Bargaining Power of Suppliers
5.4.2. Bargaining Power of Customers
5.4.3. Threat of New Entrants
5.4.4. Rivalry Among Existing Players
5.4.5. Threat of Substitutes
6. Electrical Power System Market – Strategic Analysis
6.1. Value Chain Analysis
6.2. Opportunities Analysis
6.3. Product Life Cycle
6.4. Suppliers and Distributors Market Share
7. Electrical Power System Market – By Phase Type (Market Size – $Million/$Billion)
7.1. Market Size and Market Share Analysis
7.2. Application Revenue and Trend Research
7.3. Product Segment Analysis
7.3.1. Introduction
7.3.2. Single Phase
7.3.3. Three Phase
8. Electrical Power System Market – By Operating Voltage (Market Size – $Million/$Billion)
8.1. Introduction
8.2. Low Power
8.3. Medium Power
8.4. High Power
9. Electrical Power System Market – By Voltage Rating (Market Size – $Million/$Billion)
9.1. Introduction
9.2. <130KV
9.3. 131 - 200KV
9.4. 201 - 745KV
9.5. 746kV & Above
10. Electrical Power System Market – By Subsystems (Market Size – $Million/$Billion)
10.1. Introduction
10.2. Electric Power Generation
10.3. Electric Power Transmission
10.4. Electric Power Distribution
11. Electrical Power System Market – By Components (Market Size – $Million/$Billion)
11.1. Introduction
11.2. Conductors
11.3. Electrical Buses
11.4. Static VAR Compensator
11.5. SCADA Systems
11.6. Capacitors
11.7. Reactors
11.8. Others
12. Electrical Power System Market – By Application (Market Size – $Million/$Billion)
12.1. Introduction
12.2. Industrial Consumer
12.3. Commercial Consumer
12.4. Residential Consumer
13. Electrical Power System Market – By End Use (Market Size – $Million/$Billion)
13.1. Segment Type Size and Market Share Analysis
13.2. End User Revenue and Trends by Type of End User
13.3. End User Segment Analysis by Type
13.3.1. Mining & Minerals
13.3.2. Agriculture
13.3.3. Construction
13.3.4. Power and Energy
13.3.5. Manufacturing
13.3.6. Others
14. Electrical Power System Market – By Geography
14.1. Electrical Power System Market – Americas Segment Research
14.2. North America Market Research (Market Size — $Million/$Billion)
14.2.1. Segment Type Size and Market Size Analysis
14.2.2. Revenue and Trends
14.2.3. Application Revenue and Trends by Type of Application
14.2.4. Company Revenue and Product Analysis
14.2.5. North America Product Type and Application Market Size
14.2.5.1. U.S.
14.2.5.2. Canada
14.2.5.3. Mexico
14.2.5.4. Rest of North America
14.3. Electrical Power System Market – Americas Segment Research
14.4. South America Market Research (Market Size — $Million/$Billion)
14.4.1. Segment Type Size and Market Size Analysis
14.4.2. Revenue and Trends
14.4.3. Application Revenue and Trends by Type of Application
14.4.4. Company Revenue and Product Analysis
14.4.5. South America Product Type and Application Market Size
14.4.5.1. Brazil
14.4.5.2. Argentina
14.4.5.3. Chile
14.4.5.4. Rest of South America
14.5. Electrical Power System Market – Europe Segment Research
14.6. Europe Market Research (Market Size – $Million/$Billion)
14.6.1. Segment Type Size and Market Size Analysis
14.6.2. Revenue and Trends
14.6.3. Application Revenue and Trends by Type of Application
14.6.4. Company Revenue and Product Analysis
14.6.5. Europe Segment Product Type and Application Market Size
14.6.5.1. Germany
14.6.5.2. U.K.
14.6.5.3. France
14.6.5.4. Italy
14.6.5.5. Spain
14.6.5.6. Benelux
14.6.5.7. Rest of Europe
14.7. Electrical Power System Market – APAC Segment Research
14.8. APAC Market Research (Market Size – $Million/$Billion)
14.8.1. Segment Type Size and Market Size Analysis
14.8.2. Revenue and Trends
14.8.3. Application Revenue and Trends by Type of Application
14.8.4. Company Revenue and Product Analysis
14.8.5. APAC Segment – Product Type and Application Market Size
14.8.5.1. China
14.8.5.2. Japan
14.8.5.3. India
14.8.5.4. South Korea
14.8.5.5. Rest of Asia-Pacific
14.9. Electrical Power System Market – RoW Segment Research
14.10. RoW Market Research (Market Size – $Million/$Billion)
14.10.1. Segment Type Size and Market Size Analysis
14.10.2. Revenue and Trends
14.10.3. Application Revenue and Trends by Type of Application
14.10.4. Company Revenue and Product Analysis
14.10.5. RoW Segment – Product type and Application Market Size
14.10.5.1. Middle East
14.10.5.2. Africa
15. Electrical Power System Market — Market Entropy
15.1. New Product Launches
15.2. M&As, Collaborations, JVs and Partnerships
16. Electrical Power System Market – Industry/Segment Competition Landscape
16.1. Market Share Analysis
16.1.1. Market Share by Country — Top Companies
16.1.2. Market Share by Region — Top 10 Companies
16.1.3. Market Share by Type of Application – Top 10 Companies
16.1.4. Market Share by Type of Product/Product Category – Top 10 Companies
16.1.5. Market Share at Global Level — Top 10 Companies
16.1.6. Best Practices for Companies
17. Electrical Power System Market – Key Company List by Country Premium
18. Electrical Power System Market Company Analysis
18.1. Market Share, Company Revenue, Products, M&As, Developments
18.2. ABB Ltd.
18.3. Eaton Corporation
18.4. General Electric
18.5. Itron Inc.
18.6. Schneider Electric
18.7. SEL
18.8. Siemens AG
18.9. Company 8
18.10. Company 9
18.11. Company 10 and more
"*Financials of private companies will be provided on a best-efforts basis"
19. Electrical Power System Market – Appendix
19.1. Abbreviations
19.2. Sources
20. Electrical Power System Market – Methodology
20.1. Research Methodology
20.1.1. Company Expert Interviews
20.1.2. Industry Databases
20.1.3. Associations
20.1.4. Company News
20.1.5. Company Annual Reports
20.1.6. Application Trends
20.1.7. New Products and Product Database
20.1.8. Company Transcripts
20.1.9. R&D Trends
20.1.10. Key Opinion Leaders Interviews
20.1.11. Supply and Demand Trends