Power Grid Market Size Expected to Double by End of Decade

Thu, 10 Apr 2025 06:33:47 +0000

The global power grid market, a pivotal component in the transmission and distribution of electricity, is on the cusp of experiencing significant growth over the next decade. According to projections from Persistence Market Research, the market is anticipated to see substantial expansion, with its size expected to reach a value of US$ 308.5 million by 2025. This growth is set to continue at a compound annual growth rate (CAGR) of 5.2% from 2025 to 2032, ultimately reaching US$ 439.9 million by 2032. This forecast highlights the increasing demand for efficient, reliable, and advanced power grid systems, driven by technological advancements, renewable energy integration, and growing urbanization.