A $15.6 Billion Global Opportunity for DC Distribution Network by 2026 - New Research from StrategyR
SAN FRANCISCO, Oct. 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "DC Distribution Network - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: October 2021
Executive Pool: 17513
Companies: 30 - Players covered include ABB Ltd.; AcBel Polytech, Inc.; Allis Electric Co., Ltd.; Cincon Electronics Co., Ltd.; Cosel Co., Ltd.; Critical Power Supplies Ltd; Eaton Corporation PLC; Emerson Network Power; EnSync Energy Systems; Johnson Controls, Inc.; Leadtrend Technology Corporation; P-Duke Technology Co., Ltd.; Robert Bosch GmbH; Secheron SA; Siemens AG; Spang Power Electronics and Others.
Coverage: All major geographies and key segments
Segments: Segment (DC Distribution Network)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global DC Distribution Network Market to Reach US$15.6 Billion by the Year 2026
DC power is emerging to become a standard for electricity distribution infrastructure in several applications, and is likely to take the place of AC. The presence of DC distribution network in a number of low-to-high voltage applications is among the major drivers of the direct current distribution market. Moreover, factors such as the growing renewable energy sector, compatibility of DC distribution with battery storage devices, and the advantages of DC distribution over AC distribution, including power sharing between power systems with varied frequencies, are expected to drive growth of the market. The DC distribution network is an important aspect for the future of smart grids. As such, the popularity of flexible DC distribution network in the power industry is due to its higher reliability, reduced energy losses, and lower construction and integration costs. The increase in the number of plug-in electric vehicles (PEVs), including plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), is also anticipated to boost market prospects. Further, there are also initiatives focused on improved energy access and telecom towers in the developing regions, by building new DC distribution networks in areas where an incumbent AC infrastructure is not present.
Amid the COVID-19 crisis, the global market for DC Distribution Network estimated at US$10.9 Billion in the year 2020, is projected to reach a revised size of US$15.6 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. The rising demand for electricity and the growing share of renewable energy in the overall generation mix coupled with rapidly aging infrastructure are driving need to increase investments into power grid infrastructure, which will present potential for growth in the DC distribution network market. However, the market faces some common challenges that include an innovation gap in the service of electricity in the medium voltage level in the range of 240V to 400V that is required for several microgrids as well as building-scale nanogrids; open grid architectures that could enable integration of the growing diversity of resources that are being plugged increasingly into retail power grids; and a lack of standards.
The U.S. Market is Estimated at $2.3 Billion in 2021, While China is Forecast to Reach $3.4 Billion by 2026
The DC Distribution Network market in the U.S. is estimated at US$2.3 Billion in the year 2021. The country currently accounts for a 19.8% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$3.4 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR while Rest of European market (as defined in the study) will reach US$3.7 Billion by the end of the analysis period. DC distribution systems feature the potential to make power available to greater number of applications and larger areas and meet the increasing need for power in the Asia Pacific region. Other major trends driving Asia Pacific's DC distribution network market include the mismatch between demand location and renewable source, growing demand for DC-dependent infrastructure, and higher distribution efficiency of DC distribution network. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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www.StrategyR.com
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