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The evolution of industrialization has created the rise in need for energy generation in large quantity. The various energy generation sources include nuclear power generation, solar power generation, tidal power generation, hydel power generation, and others. The recent development of power sector in of the field of non-conventional energy generation and distribution has influenced the global energy generation and distribution system market. The energy generation and distribution market is witnessing immense growth and advancement in the area of distribution and management. In addition, the smart power distribution and growing grid upgradation & modernization creates the demand for installation of new & modern energy distribution & management equipment’s across the globe. Furthermore, the investment in power generation from renewable energy resources such as tidal, thermal, wind, and solar boosts the growth of the global energy generation & distribution market.
Increase in adoption of smart & advanced devices in the energy generation & distribution power plant, rise in investment on industrial automation and control system, and development of new non-conventional power generation plant drive the energy generation and distribution systems market growth. In addition, penetration of automated systems such as industrial panels and other remote-controlled devices to operate the machines and devices for effective control fuels the market growth. The introduction of artificial intelligence and IoT enabled devices has led to precise & accurate system surveillance, detection, and repair & maintenance activities. For instance, introduction of AI triggers the error detection system which travels back and forth from the sight of fault and auto-navigate alternate path providing continuous energy distribution. This has evolved into smart grid that enhances grid reliability and efficiency by offering automatic anticipation and respond intelligence. Furthermore, the industrial revolution 4.0 has also accelerated the growth of the energy generation and distribution systems market.
Further, the construction of renewable energy generation power plants such as wind energy plants, thermal energy plant, solar energy generations accelerates the market of energy generation and distribution system. In addition, increase in investment by government on building smart grid system around the globe also plays an important role in the development of energy generation & system market growth. In Asia-Pacific, china holds the highest market share and India is projected as most lucrative segment in the energy generation and distribution system market in near future.
However, high initial investment and complexities involved in reengineering or building new power plant restrains the growth of the global energy generation and distribution systems market. Furthermore, the emerging economies round the globe has generated massive future opportunity for the setup of energy generation and advancement of distribution systems.
The energy generation and distribution systems market is segmented on the basis power range, type, component, end use, and region. On the basis of power range, it is segmented into low, mid, and high. By type, it is categorized into generation, transmission, and distribution. Based on component, it is segmented into hardware and software. On the basis of end use, it is segmented into domestic, commercial, and industrial. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players covered in the report include Alstom SA, ABB, The AES Corporation, Cisco Systems Inc., Eaton Corporation, John Wood Group plc, Wartsila, The AES Corporation, Schneider Electric SE, and Landis+Gyr AG.
Key Market Segments
Key Market Players