ABB (Switzerland) and Siemens (Germany) are the Key Players in the Self-Healing Grid Market
The global self-healing grid market is estimated to be USD 1.72 Billion in 2017 and is projected to grow at a CAGR of 9.07%, during the forecast period, to reach a market size of USD 2.66 Billion by 2022. North America is estimated to be the largest market for self-healing grid in 2017, followed by Europe and Asia Pacific. The key players in self-healing grid market in the US include GE (US), G&W (US), S&C (US), and Cisco (US). The growth of the self-healing grid market is driven by the need for protection of electric utilities from cyber attack and the complexity in distributed energy generation. Modernization of aging grid infrastructure presents a significant opportunity for the self-healing grid market.
The self-healing grid market comprises both global and regional players. The key players operating in the market include ABB (Switzerland), Siemens (Germany), GE (US), Schneider Electric (France), and Eaton (Ireland). New product developments, contracts & agreements, investments and expansions, and mergers & acquisitions are the major strategies adopted by the players in the self-healing grid market. New product development was the most commonly adopted strategy from 2014 to 2017. Industry players also adopted the strategy of contracts & agreements, which was the second-most widely followed strategy from 2014 to 2017.
ABB is a leading power and automation company. The company operates through four business segments, namely, power grids, electrification products, discrete automation and motion, and process automation. The company offers self-healing grid solutions under its electrification products division, which accounted for 26% of the net sales in 2016. ABB faces competition from companies such as Siemens (Germany), GE (US), Schneider Electric (France), and Eaton (Ireland). The company adopted contracts & agreements and partnerships and collaborations as its key strategies. In January 2017, ABB won a USD 27 million contract from National Grid Corporation of the Philippines to design, supply, and commission 18 transformers. This will enhance grid reliability and increase power capacity to support the economic growth of Philippines. In August 2017, ABB collaborated with Norway’s utility Skagerak Nett for grid upgradation and power supply reliability.
Siemens is a German manufacturing and engineering company that offers products to sectors such as infrastructure, healthcare, and energy. The company operates through eight business segments, namely, power and gas, wind power and renewables, energy management, building technologies, mobility, digital factory, process industry and drives, and healthcare. Siemens offers self-healing grid solutions through its energy management business segment under energy automation and smart grid. Siemens has adopted new product development as its key strategy. In May 2017, Siemens launched a new platform for grid planning process. This is a power system simulator for engineering (PSSE) platform, which includes planning tools and data management and exchange. In February 2017, Siemens launched advanced software and integrated planning solutions to improve the integration of distributed energy resources. The PSS software, with PSS SINCAL, combines all grid assessment tools into one platform to accurately represent distributed energy generation levels.
Related Reports:
Self-Healing Grid Market by Component (Hardware and Software & Services), Application (Transmission and Distribution Lines), End-User (Public and Private Utility), and Region (NA, EU, APAC, Row) - Global Forecast to 2022
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