The report, now available on ASDReports, recognizes the following companies as the key players in the Global Smart Grid Transmission and Distribution Equipment Market: ABB Ltd., GE-Alstom Grid, Prymsia Group, Schneider Electric SE, and Siemen AG.
Other Prominent Vendors in the market are: Abengoa, EATON, First Subsea, Fujikura, General Cable, Honeywell, Nexans, Schweitzer Engineering Laboratories, and Xian Electric Engineering.
Commenting on the report, an analyst said: “Imposition of stringent emission norms to curb environment pollution will lead to production of substantial amount of clean energy. The deployment of smart grid enables new power resources such as distributed generation, integration with renewable power systems, and electric vehicles that have low carbon footprint. They are integrated with the smart grid to meet the power demand. This integration will require utilities to install sophisticated control technologies to balance the power demand and supply, make the grid flexible, and maintain the stability of the grid.”
According to the report, need for flexible power systems is one of the major driving factor in the market. Climate change policies and improvements in technologies have resulted in power generation from low carbon or no carbon technologies such as solar, wind, and hydro. Their intermittent power generation has resulted in utilities and energy companies making efforts to transition and accommodate these fuels by changing the functioning of the grid from a rigid structure to a system that is focused on flexibility and reliability.
Further, the report states that advancement in IT and implementation of technology to control power generation and distribution have increased the chances of cyberattacks. Smart grid infrastructure uses internet technologies, and hence, is extremely vulnerable to security threats in the absence of a robust cyber security setup.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: May 10, 2016