Utility Scale Switchgear Market Trends

Utility Scale Switchgear Market Trends

Ongoing programs and initiatives with respect to enhancement of the power grid, which includes, smart grid research & development; advanced technologies, grid energy storage, integrate a competitive landscape. Network management systems, solid-state components and power flow controllers can optimize the power delivery and further enhance resilience; interactive capabilities including adaptive networks; intelligent control and communication systems will positively influence the product demand.
 

Rising investments from public & private funding institutions across the globe along with regulatory provisions that cater to the rapid expansion of smart grid networks will positively influence the utility scale switchgear market outlook. Favourable reforms in line with large-scale renewable integration favoured by the upgradation of the existing grid infrastructure to sustain the emerging electricity demand will comprehensively enhance the product penetration.
 

For instance, The Smart Grid Investment Grant program (SGIG) aims to escalate the modernization of the existing transmission systems across the U.S. On account of the favourable political and economic scenario, smart grid deployment projects mark significant growth potential in the near future.