Self-Healing Grid Market
GarnerInsights.com has added the report, “Self-Healing Grid Market – Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 – 2025” published by Reports Monitor.
Self-Healing Grid is a system equipped with superior software program, computerised control, smart sensors that utilize real time distribution facts to detect and cut off faults. It has ability to reconfigure distribution network and reduce the number of customers affected. Distribution structures are becoming more and more complex with addition of electric vehicles, IoT devices and distributed energy source along with renewable sources. To improve the system reliability it may require reconfiguring switches and circuit reclosers installed on distribution feeder. It helps to isolate faults in affected section and restore service to as many customers as possible from alternate sources. This technology connects smart reclosers and circuit breakers from alternative feeders and enables them to operate in organized manner. Self-healing grid can provide sophisticated protection to the assets and electric utilities.
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Market Growth Factors:
Increased complexity in distribution network and threat of cyber-attack, are the major drivers for growth of this market. Need of real time monitoring, quick anticipation & isolation of problems, changing government’s policies & regulations are some of the other growth drivers for this market.
Self-healing grid market is segmented on the basis of Components, Application and End-User. Components are further segmented into Hardware and Software & services. Hardware includes the sensing devices and communication devices. Sensing devices are smart sensors, voltage regulator fault circuit indicator, reclosers etc. and on the other hand communication devices include Ethernet, mesh radios, cellular network and others. Self-healing technology can be adopted for the applications in distribution and transmission systems. On the basis of End user, market is segmented as Public utility and private utility. Geographically market can be split into North America, Europe, Asia-Pacific and LAMEA.
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Geographically market can be split into North America, Europe, Asia-Pacific and LAMEA. North America is predicted to lead the global self-healing market because of growing investments in energy sector and strict regulatory frameworks associated with the implementation of self-healing grid technology. Asia Pacific is fastest growing market for self-healing grid technology. China and Japan expected to dominate this region as governments are focusing on increasing grid modernization in their country.
Key players in this market are Siemens, Eaton, ABB, GE, G&W, S&C, Schneider Electric, Cisco, Oracle and others. Major competitive factor in Self-healing market is innovations and developments in the technology used for power grid solutions.
• Netherlands based company Alfen, launches world’s first storage solutions for self-healing grids.
• US government announced funding up to $220 million for grid modernization.
Growth Factors Details:
•Among end-use industries, the industrial segment is projected to lead the Self-Healing Grid Market during the forecast period.
•Among types, the Self-Healing Grid segment is projected to grow at the highest CAGR during the forecast period.
•Increasing demand for Self-Healing Grid in the Asia-Pacific is the major driver for the growth of Self-Healing Grid market in the region.
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