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Use Of Hybrid Grids To Transmit Energy
The global electric power transmission, control, and distribution market was valued at $1439 billion in 2017. Asia Pacific was the largest geographic region accounting for $600 billion or 41.7% of the global market. China was the largest country accounting for $286.3 billion or 19.9% of the global electric power transmission, control, and distribution market.
Power transmission companies are using hybrid grids to transmit electricity over long distances at lower costs. A hybrid grid makes use of high voltage direct current (HVDC) and combinations of AC and DC systems to transmit electricity. These systems provide end-users with more affordable, reliable and sustainable energy. Huawei, a leading communication technology provider in China, is using hybrid grids power system to transmit electricity to poor grid areas.
Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market. China was the largest country accounting for one-fifth of the global electric power transmission, control, and distribution market.
According to The Business Research Company’s Consultant, Oliver Guirdham, electric power generation companies are increasingly using batteries to store solar energy during daylight hours. These energy-storage sites consist of large lithium-ion batteries. These batteries store enough energy to serve as a back-up in case of fuel shortages. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital intensive power generation plants, thereby enhancing transmission and distribution efficiencies and thus reduce operational costs. For example, San Diego Gas & Electric operations center has installed energy-storage systems with big batteries to store electric power. Arizona Public Service Co. has installed a $2 million battery system in Phoenix to store energy. In 2016, lithium-ion battery prices fell by 70% and are expected to shrink further in future, thus driving their use in power grids.
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The top companies in the electricity transmission and distribution industry covered in the report are Duke Energy, Engie SA, National Grid, NextEra, and Electricite de France. Duke Energy was the biggest player in the global electric power transmission, control, and distribution market, with revenues worth $22 billion in 2016. Duke Energy has expanded its investment portfolio through the addition of distributed solar companies and projects, energy storage systems and energy management solutions specifically tailored to commercial businesses and other institutions.
The report also covers other major electric utility industry trends.
Power Transmission Market Segmentation
The electric power transmission, control, and distribution market is segmented into Electric Power Distribution; Electric Bulk Power Transmission And Control.
Electric Power Distribution segment includes electric power establishments involved in operating electric power distribution systems and operating as electric power brokers or agents that arrange the sale of electricity via power distribution systems operated by others.
Electric Bulk Power Transmission and Control segment comprises companies primarily involved in operating electric power transmission systems and controlling the transmission of electricity from the generating source to distribution centers or other electric utilities.
Electric Power Transmission, Control, and Distribution Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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