Market Drivers

Renewable integration is a key driver for the Power Grid Systems Market Share  over the forecast period. As the share of solar and wind power increases globally, intelligent transmission systems with monitoring, communication and grid stability functionality are crucial to support intermittent renewable output. Modernized digital grids are enabling safer, cleaner, and more reliable integration of renewable generation on a massive scale. This is spurring investments in smarter transmission grids worldwide capable of facilitating renewable expansion plans.

Current geopolitical situations impacting growth of the power grid system market:

The ongoing geopolitical tensions and conflicts are posing major challenges for the growth of the power grid system market in the coming years. Various trade restrictions, sanctions, supply chain disruptions due to pandemic, and political uncertainty in major economies are hampering cross-border collaboration on critical infrastructure projects. This is affecting the planning and implementation of ambitious programs to modernize the aging power grids and integrate renewable energy on a large scale.

Get more insights on Power Grid System Market

Explore More Related Article On-  Renewable Energy Technologies Market

 Discover the Report for More Insights, Tailored to Your Language.

 French German Italian Russian Japanese Chinese Korean Portuguese