Global G3-PLC Module Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global G3-PLC Module Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

G3-PLC™ was developed to meet the industry's need for a potentially ubiquitous powerline communications standard that will enable the smart grid vision. G3-PLC communicates across existing power lines without the need for additional wire or fibers. Offering higher data rates, further reach, and better error correction than previous narrowband power-line communications (NB-PLC) standards, this open, IPv6-based standard will accelerate widespread development of internet-based energy management systems.

Market Overview:

The latest research study on the global G3-PLC Module market finds that the global G3-PLC Module market reached a value of USD 554.23 million in 2022. It’s expected that the market will achieve USD 906.8 million by 2028, exhibiting a CAGR of 8.55% during the forecast period.

Increased demand for electricity worldwide

With the development of the global economy and population growth, the scale and structure of the power grid have also undergone great changes, from the initial local small-scale power grid to the regional medium-scale power grid, and then to today's smart grid. Rapidly growing demand for electricity has made power companies need to find better technologies to keep up with consumers' rapidly changing energy consumption habits. G3-PLC is a reliable, secure, and cost-effective standardized communication. With the increasing demand for electricity in industry and life, the G3-PLC module is more widely used.

New energy development

With the rapid improvement of new energy technology levels, the cost and price of photovoltaics and wind power have rapidly declined, and the development of new energy has entered the development stage of large-scale incremental replacement and regional inventory replacement. The rapid adoption of various energy sources means that the grid needs to become smarter, which promotes the development of G3-PLC module related products.

Technology upgrades and improvements

As the demand for smart grid communication increases, manufacturers of related products are constantly researching and improving G3-PLC technology. As more companies participate in the development of G3-PLC related products, the products will be better utilized in more fields, such as smart meters, smart sockets, intelligent light control, intelligent security and other products. This will further expand the product market.

Demand for increased productivity

PLC technology can take advantage of the existing power line infrastructure, which makes it an advantageous technological position in the field of Smart Grid. The G3-PLC-based two-way communication network enables Utility Companies to continuously monitor the up-to-date power usage of end-user devices or applications during the day, thus providing targeted The electricity pricing strategy is used to encourage consumers to adjust their electricity habits, to reduce the peak load of the grid, and to avoid building more power plants. This contributes to increased productivity in the power industry and avoids wastage of resources.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Itron, Inc. is one of the major players operating in the G3-PLC Module market, holding a share of 12.86% in 2023.

Itron, Inc.

Itron is an American technology company providing products and services in energy and water management.

Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is an electronic component manufacturer under the Sumitomo Group of Japan and is the leading cable manufacturer in Japan.

Segmentation Overview:

As for product types, the Low Voltage segment held the largest market share in 2022.

Application Overview:

By application, the Residential Use segment occupied the biggest share from 2018 to 2022.

Key Companies in the global G3-PLC Module market covered in Chapter 3:

Ningbo Sanxing Smart Electric Co. Ltd.
Hexing Electrical Co., Ltd.
Inhemeter
Holley Technology Ltd.
Sagemcom
Itron, Inc.
Honeywell International Inc.
Sumitomo Electric Industries
Toshiba Corporation
Landis & Gyr

In Chapter 4 and Chapter 14.2, on the basis of types, the G3-PLC Module market from 2018 to 2029 is primarily split into:

Low Voltage
High Voltage
Extra High Voltage

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the G3-PLC Module market from 2018 to 2029 covers:

Industrial Use
Residential Use
Energy Use
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)