Global Self-Healing Grid Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Power Transmission, Power Distribution), By Grid Integration Source (Conventional, Non-Conventional), And By Geography - Forecasts From 2020 To 2025

The global self-healing grid market is projected to grow at a CAGR of 27.52% to reach US$8.834 billion by 2025 from US$2.054 billion in 2019. The increasing requirement for automation and smart solutions and technologies is due to the improving industry standards and the rising concerns among the industry players in order to reduce overall costs.

The industry standards are improving, the product and solution requirement by the different industries is also rising and is encouraging the companies to provide automated solutions with recent technologies so as to deal with the problems effectively. The power distribution grid, which is responsible for the management of power and controlling the distribution and transmission of power is also facing different challenges as the infrastructure is getting older.

Moreover, there are rising concerns among the power grid companies and owners to adopt eco-friendly, energy-saving, and cost-saving automation solutions so as to minimize the burden of maintenance and labor costs. Also, as there are other power sources being integrated into the distribution and power grid systems such as thermal power, solar power among others, the end-users are struggling to adhere to the industry standards and regulations and adopt self-healing solutions. Therefore, these factors are causing the market growth to propel over the forecast period.

The unavailability of required infrastructure and the supported technologies coupled with the lack of skilled workforce required for the maintenance and operations in the low-income regions.

The self-healing grids are also considered as one of the additional features and advancements which is used to enhance the functionality of the smart grid solutions that are being deployed in different counties globally, so as to make the related process more efficient. However, the deployment of self-healing technology or self-healing grids rakes up a high initial investment and also requires skilled labor for the maintenance of the various features. This is not possible in many of the low-income counties and regions, as there is the unavailability of the required infrastructure and a lack of a skilled workforce. Hence, this factor poses a restraint in the self-healing market growth over the forecast period.

Product launches and product offerings by Major Market Players in the Self-Healing Grid Market

The market players are highly active in the market by offering and making available a variety of smart grid and power distribution self-healing solutions with enhanced and advanced features in order to cater to the rising demands from different end-users.

Some of the examples of product launches and offerings are as follows:

• Siemens, which is one of the leading and most popular company globally and is involved in the manufacture of high-end products such as mobility, automation, and software solution among others provide self-healing technology solutions for smart grids and power grids. The product that they offer is called the Self Optimizing Grid. This product is a solution that is able to provide automation and decentralized applications so as to facilitate the monitoring and remote control of the grid. The solution by the company is also able to enhance the reliability and the increasing the efficiency of the grid. in addition, it can be used and applied on different levels of the grid system such as central, semi-decentralized, and decentralized and in this way provide optimal performance.

• Eaton, a company involved in the manufacture and provision of products and services such as actuator and motion controllers, clutches and brakes, cylinders, engine solutions, hydraulic motors, and generators among others to the different end-user such as aerospace, healthcare, oil and gas, government and military among others. It also provides smart grid and power grid solutions and products under its wide-ranged portfolio. One of the self-healing solutions it offers is called the “Yukon Feeder Automation”. This solution provided by the company is software that is able to integrate real-time data in order to facilitate the detection of disturbances in the distribution grid and reconfigures the system automatically. In addition, it has some core features such as, the capability to carry out restoration in less than 2 minutes, reducing the outage time, and proving voltage management among others.

The North American region is estimated to hold a notable share over the forecast period owing to the faster adoption by the power grid owners as the transmission and distribution losses are increasing. On the other hand, the Asia Pacific region is poised to show modest growth due to efforts being made by the government of counties such as India to adopt smart grids and self-healing grid solutions

The North American region is estimated to hold a considerable market share throughout the forecast period owing to the fact that the adoption of such systems is growing faster in the different states of countries such as the US. This is due to the fact that the power losses in the transmission and the distribution of electricity via the power grid are estimated to be around 5%, according to the data and statistics provided by the U.S. Energy Information Administration. Moreover, there are rising investments being made by the market players in order to provide advanced and more enhanced solutions to make the management of distribution grids automated and more efficient.

On the other hand, the Asia Pacific region shows the potential to grow at a notable pace over the forecast period. This is attributed fact that the government of countries such as India is increasingly involved in order to improve the distribution sector in the country by launching programs such as the National Smart Grid Mission, which has been undertaken by the Ministry of Power.

Self-Healing Grid Market Scope:

Segmentation:

• By Application
  • Power Transmission
  • Power Distribution

• By Grid Integration Source
  • Conventional
  • Non-Conventional

• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the self-healing grid market size by 2025?
A1. The global self-healing grid market is projected to reach a market size of US$8.834 billion by 2025.

Q2. What is the size of the global self-healing grid market?
A2. Self Healing Grid Market was valued at US$2.054 billion in 2019.

Q3. What are the growth prospects for the self-healing grid market?
A3. The self-healing grid market is projected to grow at a CAGR of 27.52% over the forecast period.

Q4. Which region holds the largest market share in the self-healing grid market?
A4. The North American region is estimated to hold a notable share over the forecast period owing to the faster adoption by the power grid owners as the transmission and distribution losses are increasing. 

Q5. How is the global self-healing grid market segmented?
A5. The global self-healing grid market has been segmented by application, grid integration source, and geography.