Saudi Arabia Self-Healing Grids Market is expected to grow at a robust CAGR

Saudi Arabia Self-Healing Grids Market is expected to grow owing to requirement of systems quickly detect and respond to disturbances, isolating faults and rerouting power to maintain grid reliability throughout the forecast period.

 

According to TechSci Research report, “Saudi Arabia Self-Healing Grids Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, Saudi Arabia Self-Healing Grids Market is expected to register robust growth during the forecast period. Saudi Arabia has established ambitious renewable energy targets as part of its Vision 2030 and National Transformation Program. These targets encompass generating a substantial portion of the nation's electricity from renewable sources. As the country invests in solar and wind energy projects, the grid encounters challenges associated with the intermittent nature of renewables. Self-healing grids play a vital role in effectively managing this intermittency by promptly detecting and responding to grid disturbances, ensuring a dependable supply of renewable energy.

Saudi Arabia is currently in the process of diversifying its energy mix by integrating renewable energy sources such as solar and wind. This transition offers an opportunity for the implementation of self-healing grids to effectively manage the variability and intermittency associated with renewables. These grids can autonomously balance supply and demand, store surplus energy, and optimize the utilization of clean energy sources, thereby contributing to the establishment of a more sustainable energy infrastructure.

 

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Based on component, the Hardware segment is expected to dominate the market during the forecast period. The Saudi government's emphasis on grid modernization to enhance energy efficiency and reliability serves as a significant catalyst for the hardware segment. Upgrading the grid infrastructure with cutting-edge hardware components is indispensable in attaining these objectives. The integration of renewable energy sources, particularly solar and wind, necessitates the deployment of sensors and monitoring equipment for effective variability management and grid stability assurance. Hardware components play a pivotal role in facilitating the seamless integration of renewables into the grid. The surge in the adoption of digital technologies and the Internet of Things (IoT) within Saudi Arabia's energy sector propels the demand for hardware components. These technologies enable real-time data collection, analysis, and control, thereby enhancing the effectiveness of self-healing grids. As electric vehicle (EV) adoption gains momentum in Saudi Arabia, the hardware segment benefits from the escalating demand for smart charging infrastructure. This encompasses the installation of sensors and communication equipment at charging stations to ensure reliable and efficient EV charging. Safeguarding self-healing grids against cyber threats necessitates the inclusion of hardware components pertaining to cybersecurity, such as firewalls and intrusion detection systems. The growing focus on grid security drives investments in these hardware solutions. As Saudi Arabia diversifies its economy beyond oil and gas, investments in advanced hardware components for self-healing grids underpin the development of a resilient and efficient electrical infrastructure, which is indispensable for various industries.

Based on application, the Transmission Lines segment is projected to dominate the market throughout the forecast period. Reliable communication networks are essential for the transmission of data from sensors on transmission lines to grid control centers. High-speed, low-latency communication ensures prompt responses to grid disturbances. Self-healing grid control systems utilize sensor data to autonomously make decisions regarding power rerouting or fault isolation along transmission lines. Advanced control systems play a crucial role in enabling self-healing capabilities. Automation equipment, including switches and circuit breakers, contributes to fault isolation and power rerouting, minimizing disruptions in the event of a fault. With advancing technology, there are opportunities for the development of more efficient and cost-effective materials and components for transmission lines, making upgrades more accessible. The government's support for grid modernization and renewable energy integration in Saudi Arabia provides a favorable environment for investments in the transmission lines segment. Collaborating with international partners and technology providers can bring expertise and innovation to the transmission lines segment, thereby accelerating the adoption of self-healing grid solutions.

 

Key market players in the Saudi Arabia Self-Healing Grids Market are: -

• ABB
• Siemens
• Schneider Electric
• GE Grid Solutions
• Eaton
• Cisco
• IBM
• Schweitzer Engineering Laboratories (SEL)
• Advanced Control Systems (ACS)
• Oracle  

 

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“The Saudi Arabia Self-Healing Grids Market in South Saudi Arabia is poised to be the dominant force in the industry. Riyadh's dedication to renewable energy, exemplified by the implementation of large-scale solar projects, plays a crucial role in enabling self-healing grids. These grids are indispensable for effectively integrating renewable energy sources into the current grid, managing fluctuations, and ensuring grid stability as Riyadh progresses towards a cleaner energy mix.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Saudi Arabia 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 Saudi Arabia 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 Saudi Arabia Self-Healing Grids Market.

 

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