Power transmission companies are using
hybrid grids to transmit electricity over long distances at lower costs. A
hybrid grid makes use of high voltage direct current (HVDC) and combinations of
AC and DC systems to transmit electricity. These systems provide end-users with
more affordable, reliable and sustainable energy. Huawei, a leading
communication technology provider in China, is using hybrid grids power system
to transmit electricity to poor grid areas.
THE BUSINESS RESEARCH COMPANY VALUED
THE ELECTRIC POWER TRANSMISSION, CONTROL, AND DISTRIBUTION MARKET AT $2
TRILLION IN 2017
Asia Pacific
was the largest geographic region in the market, accounting for more than one-third
of the global market. China was the largest country accounting for one-fifth of
the global electric power transmission, control, and distribution market.
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The chart below shows the year-on-year
growth of the global electric power transmission, control, and distribution
market during 2017 – 2021
According
to The Business Research Company’s Consultant, Nitin Gianchandani, electric
power generation companies are increasingly using batteries to store solar
energy during daylight hours. These energy-storage sites consist of large
lithium-ion batteries. These batteries store enough energy to serve as a
back-up in case of fuel shortages. They are designed to absorb solar power and
feed it back to the grid. These systems minimize the need for capital intensive
power generation plants, thereby enhancing transmission and distribution
efficiencies and thus reduce operational costs. For example, San Diego Gas
& Electric operations center has installed energy-storage systems with big
batteries to store electric power. Arizona Public Service Co. has installed a $2
million battery system in Phoenix to store energy. In 2016, lithium-ion battery
prices fell by 70% and are expected to shrink further in future, thus driving
their use in power grids.
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Duke Energy was the biggest player in
the global electric power transmission, control, and distribution market, with
revenues worth $22 billion in 2016. Duke
Energy has expanded its investment portfolio through the addition of
distributed solar companies and projects, energy storage systems and energy
management solutions specifically tailored to commercial businesses and other
institutions.
The electric power transmission,
Control, and Distribution market is segmented into Electric Power Distribution;
Electric Bulk Power Transmission And Control.
Electric
Power Distribution segment includes electric power
establishments involved in operating electric power distribution systems and
operating as electric power brokers or agents that arrange the sale of
electricity via power distribution systems operated by others.
Electric
Bulk Power Transmission and Control segment comprises companies primarily
involved in operating electric power transmission systems and controlling the
transmission of electricity from the generating source to distribution centers
or other electric utilities.
Electric Power Transmission, Control,
and Distribution Global Market Report 2018 is a detailed report giving a
unique insight into this market. The report is priced at $4000 for an
individual user. To use across your
office, the price is $6000 and $8000 if you wish to use across a multinational
company.
About The Business Research
Company
The Business Research Company is a market research and intelligence
company, which excels in company, market and consumer research. It has research
professionals at its offices in the UK, India and the US as well a network of
trained researchers globally. It has specialist consultants in a wide range of
industries including manufacturing, healthcare, chemicals and technology.
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The Business Research Company
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Email: info@tbrc.info
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