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Europe Smart Grid Network Market Size (2024 - 2029)

The European smart grid network market is poised for growth, driven by increased investments and the deployment of advanced technologies such as smart meters and EV chargers. Despite challenges posed by the transition to less predictable renewable energy sources like solar and wind, the market's expansion is supported by strategic infrastructural investments from governments in both emerging and underdeveloped nations. These investments are aimed at sustaining long-term economic prosperity and achieving carbon emission reduction targets. The United Kingdom is anticipated to experience notable growth due to substantial market investments.

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Market Size of Europe Smart Grid Network Industry

Europe Smart Grid Network Market - Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 3.10 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Europe Smart Grid Network Market Analysis

The European smart grid network market is expected to register a CAGR of more than 3.1% during the forecast period of 2022-2027. The COVID-19 pandemic had slowed the growth of the smart grid market, as various countries across the world were forced to implement strict lockdowns during the first half of 2020. Governments and local authorities issued strict guidelines and halted all non-essential operations. This adversely affected the smart grid market due to the suspension of grid-modernization activities such as the nationwide smart meter roll-out in the United Kingdom that had to be completed by 2020 but has been pushed till 2024. Factors such as increased investments and deployments of smart grid technologies such as smart meters, EV chargers, and other associated smart grid infrastructure technologies are expected to drive the market in the coming years. However, the transition from coal and natural gas-based power plants to sustainable but less predictable methods such as solar and wind are expected to strain the growth of the market studied during the forecast period.

  • Advanced metering infrastructure (AMI) is expected to witness significant growth during the forecast period due to the increasing deployment of smart grid technologies across the world's developed and emerging economies.
  • Governments of both emerging and underdeveloped nations worldwide view smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunities to the companies involved in the smart grid network market in the near future.
  • The United Kingdom is expected to witness significant growth in the coming years due to large-scale investments in the market.

Europe Smart Grid Network Industry Segmentation

The European smart grid network market report includes:

Technology Application Area
Transmission
Demand Response
Advanced Metering Infrastructure (AMI)
Other Technology Application Areas
Geography
United Kingdom
France
Germany
Rest of Europe
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Europe Smart Grid Network Market Size Summary

The European smart grid network market is poised for growth, driven by increased investments in smart grid technologies such as smart meters and electric vehicle chargers. The market experienced a slowdown due to the COVID-19 pandemic, which led to delays in grid modernization activities like the smart meter roll-out in the United Kingdom. However, the shift towards sustainable energy sources, despite being a challenge, is expected to create opportunities for market expansion. Advanced metering infrastructure (AMI) is anticipated to see significant growth, supported by the deployment of smart grid technologies across both developed and emerging economies. Governments view these technologies as strategic investments to achieve economic stability and carbon reduction goals, offering ample opportunities for companies in the smart grid sector.

In the United Kingdom, substantial investments in smart electric grid upgrades are driving the development of innovative products and services. The government's commitment to a nationwide smart meter roll-out, despite delays, underscores the importance of smart grid technologies in addressing energy demand and security challenges. The UK's smart grid market is expected to grow due to supportive government policies and innovative projects like Northern Powergrid's Microresilience program. The European market is characterized by fragmentation, with major players such as Électricité de France SA and E.ON SE actively expanding their portfolios through acquisitions and investments in digital solutions. The European Union's financial support for smart grid projects further bolsters the market's growth prospects.

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Europe Smart Grid Network Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, in USD billion, till 2027

    3. 1.3 Europe Renewable Energy Mix, 2020

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitute Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology Application Area

      1. 2.1.1 Transmission

      2. 2.1.2 Demand Response

      3. 2.1.3 Advanced Metering Infrastructure (AMI)

      4. 2.1.4 Other Technology Application Areas

    2. 2.2 Geography

      1. 2.2.1 United Kingdom

      2. 2.2.2 France

      3. 2.2.3 Germany

      4. 2.2.4 Rest of Europe

Europe Smart Grid Network Market Size FAQs

The Europe Smart Grid Network Market is projected to register a CAGR of greater than 3.10% during the forecast period (2024-2029)

SSE PLC, Schneider Electric SE, Renault Group, E.ON SE and Électricité de France S.A are the major companies operating in the Europe Smart Grid Network Market.

Europe Smart Grid Network Market Report Snapshots

Europe Smart Grid Network Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)