Lucintel's Analysis Outlines Double-Digit Growth for Global Smart Grid Industry: Market to Reach $57 Billion in 2016

Irving, Texas, UNITED STATES


IRVING, Texas, Jan. 17, 2012 (GLOBE NEWSWIRE) -- The smart grid market has experienced rapid, double-digit growth over the last five years and is expected to continue its robust growth momentum globally, reaching approximately US $57 billion by 2016 with a CAGR of 13% over the next five years.

Lucintel, a leading global management consulting and market research firm, has analyzed the global smart grid market and presents its findings in "Growth Opportunities in the Global Smart Grid Market 2011–2016: Trends, Forecast, and Regional Analysis."

Lucintel's research indicates strong growth among renewable energy generation sources, and their integration into a common grid is a major driver in the smart grid market. The high cost of installing smart grid components such as smart meters and sensors, and the maintenance and monitoring expenses of smart grid technology are challenging factors. Digitalization of meters, rising electricity generation costs, government incentives promoting green energy, distribution of smart meters, and development in transmission facilities to provide energy to remote areas, however, are boosting the smart grid market.

During 2011–2016, the transmission and distribution domain in the smart grid market is likely to grow most rapidly, followed by the utilities and customer domains. Transmission of UHV power from geographically distributed plants to any specific area demands stable transmission lines. Thus, the future smart grid market is expected to be driven by growth in the T&D and utilities domains.

The test and monitoring solutions is anticipated to experience slower growth, but the smart grid infrastructure segment is likely to have the largest market size, followed by the communication solutions and energy management systems segments. Over the next five years, many new substation components, UHV lines, and superconductor cables are likely to be installed. This growth is forecast to be driven by an increase in smart meter market penetration among customers.

As per the study, the APAC market is anticipated to lead growth rates by 2016, because the potential for generation and consumption increase rates is higher cumulatively for nations in the APAC region. North America, because of its greater potential in installing renewable energy sources and low customer penetration, is expected to outpace the European market. Growth in the rest of the world is projected to be the lowest because of comparatively low energy demand and customer penetration.

Lucintel's research report provides trend scenarios and forecast statistics 2011–2016; details the industry's drivers and challenges; analyzes the smart grid market by regions, domains, and components; and also describes emerging trends and new opportunities in the global smart grid market; smart grid market manufacturers' profiles, and more.

For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.

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