India Self-Healing Grids Market is expected to grow at a robust CAGR
India
Self-Healing Grids Market is expected to grow owing to proliferation of digital
technologies and the increasing dependence on the internet and electronic devices
throughout the forecast period.
According
to TechSci Research report, “India
Self-Healing Grids Market – By
Region, Competition, Forecast and Opportunities, 2019-2029”, India Self-Healing
Grids Market is expected to register robust growth during the forecast period. India
has set ambitious targets for expanding renewable energy capacity, aiming for
175 GW by 2022 and 450 GW by 2030. These targets are part of the country's
commitment to reduce greenhouse gas emissions, address climate change, and
promote sustainable energy sources. Self-healing grids play a critical role in
managing the intermittent nature of renewable energy generation, such as solar
and wind power. They enable quick responses to fluctuations in supply and
demand.
India
has established ambitious targets for the adoption of renewable energy.
Self-healing grids present an opportunity to seamlessly integrate renewable
energy sources such as solar and wind into the grid. These grids can
effectively manage the intermittent nature of renewables, optimize their
utilization, and improve grid stability. Consequently, this fosters additional
investment in renewable energy projects.
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Based
on component, the Hardware segment
is expected to dominate the market during the forecast period. Reliable
communication networks are indispensable for real-time transmission of sensor
data to grid control centers. The adoption of advanced technologies such as 5G
and IoT holds immense potential for augmenting communication capabilities
within the grid. Crucial for swiftly restoring service during faults, grid
protection and switching equipment play a vital role in isolating and rerouting
power. The deployment of intelligent circuit breakers and switches is on the
rise, enabling automated fault detection and isolation. Integration of energy
storage systems, like batteries, into self-healing grids is increasing,
enabling excess energy storage and backup power provision during outages. This
enhances grid stability and facilitates the seamless integration of renewable
energy sources. As digitalization and connectivity expand, robust cybersecurity
measures become essential to safeguard the grid from cyber threats. Investments
in cybersecurity hardware, software, and practices are steadily increasing. To
enable remote monitoring and control, hardware components like remote terminal
units (RTUs) and intelligent electronic devices (IEDs) are strategically
deployed throughout the grid.
Based
on application, the Transmission Lines segment is projected to dominate the
market throughout the forecast period. To enable real-time data transmission
from remote locations, a robust communication infrastructure is imperative for
transmission lines. Fiber-optic networks and microwave communication systems
are commonly utilized to transmit data from sensors on transmission lines to
control centers. Remote monitoring and control systems are deployed to
effectively manage and optimize the operation of transmission lines. These
systems empower utilities to automatically reroute power and isolate faults,
thereby minimizing downtime and reducing the impact of outages. Automation
equipment, such as intelligent circuit breakers and switches, is employed to
automate responses to transmission line faults. These components enable
self-healing capabilities by isolating and restoring power flow as required.
Transmission lines can be upgraded with grid resilience enhancements, such as
high-temperature conductors and robust insulators, to withstand extreme weather
conditions and enhance overall reliability. Safeguarding transmission line
infrastructure from cyber threats is of utmost importance. Hardware and
software solutions for grid cybersecurity are indispensable to ensure the
integrity and reliability of transmission lines. The transmission lines segment
plays a crucial role in self-healing grids in India, given the country's
extensive and diverse power grid. Investments in advanced monitoring and
control technologies, alongside a robust communication infrastructure, are
vital for enhancing the resilience and reliability of transmission lines. The
integration of renewable energy sources also introduces complexity to this
segment, necessitating hardware solutions for grid management and balancing.
Key
market players in the India Self-Healing Grids Market are:-
- Tata
Power
- Reliance
Energy
- BSES
Rajdhani Power Limited (BRPL)
- Siemens
- Schneider Electric
- ABB
- Larsen & Toubro (L&T)
- Crompton
Greaves
- Schneider
Electric India Pvt. Ltd.
- Power
Grid Corporation of India Limited (PGCIL)
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“The
India Self-Healing Grids Market in South India is poised to be the dominant
force in the industry. The rapid urbanization and industrialization in cities
such as Chennai, Bengaluru, and Hyderabad are leading to a significant surge in
electricity demand. Self-healing grids present a solution to efficiently meet
this growing demand by optimizing grid operations, minimizing energy losses,
and ensuring uninterrupted power supply to industries.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“India
Self-Healing Grids Market Segmented By Component (Hardware, Software &
Services), By Application (Transmission Lines and Distribution lines), By
End-User (Public Utility and Private Utility), By Region, and By Competition,
2019-2029F,”
has evaluated the future
growth potential of India Self-Healing Grids Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Self-Healing Grids Market.
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