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Self-healing grids are the type of grid in which the grid can automatically separate the malfunctioning or faulty section from the rest of the grid. Self-healing grids have automated controls, sensors and advanced software. They also have real-time communication technologies and digital components to monitor electric strength. This helps in bringing down the downtime of the grid in the non-affected zone. This quality of self-healing in grids has been observed in the upcoming smart grids.
The various advantages for the electricity provider and consumer associated with the use of smart grids are less power restoration time, better energy storage, improved reliability, and better grid performance. Taking the environment into consideration, self-healing grids provide the advantage of less pollution. The increasing adoption of clean energy sources, along with upgradation to smart grids will drive the growth of the global self-healing grids market during the given forecast period.
Based on components, the global self-healing grids market can be segmented into hardware and software & services. The hardware segment will dominate the market owing to the growing upgrading to smart grids in many countries. Based on its application, the global self-healing grids market can be segmented into transmission and distribution lines. The ongoing urbanization has seen more and more distribution lines to be set up which will distribution lines dominate the global self-healing grids market.
Key Market Driver -
Key Market Driver – Growing adoption of renewable energy coupled with technological advancements
Key Market Restraint -
Key Market Restraint – High capital cost owing to use of advance technologies
Based on its end-user, the global self-healing grids market can be segmented into public utility and private utility. As the major electricity distribution in any country is being carried out by the government-owned electricity distribution organizations, the public utility segment will dominate the global self-healing grids market.
The key market driver for the global self-healing grids market is the growing adoption of clean energy sources such as wind and solar, which initiate the need for new grids installations. The technological advancements in grids which make maintenance easier are also the other factor which will drive the growth of the global self-healing grids market.
Key market restraint for the global self-healing grids market is the high capital cost involved in the installation of the self-healing grids, which includes specific software and expensive hardware materials. Also, lack of interest in adoption of these grids shown by various organizations can hinder the growth of the global self-healing grids market.
Key players operating in the global self-healing grid market are S&C Electric Company, Sentient Energy, GE, ABB, Eaton, Siemens, DNV GL, Alectra Utilities, Infosys, Cisco, G&W Electric Co., Oracle, Schneider Electric, Landis + Gyr.
The global self-healing grids market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, North America holds the largest market for self-healing grids, owing to the replacement of the aging grid infrastructure with the upcoming new technologies embedded grid infrastructure. Following North America, the Asia Pacific region holds good opportunities for the growth of the global self-healing grids market owing to increasing power demand along with the growing population.
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This has seen alternative energy-producing sources to come up and setting up of new grids. Latin America and Middle East will also witness a growth in the global self-healing grids market owing to the growing adoption of renewables in Latin America and grid upgradation in Middle East. Europe also holds a good opportunity for the growth of the global self-healing grids market owing to the increased adoption of the renewable sources of energy taking place in the region to satisfy the energy demand.
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