Latest News- DC Distribution Networks Market in Argentina: Telecom is expected to lead the End-user segment during 2024-2028
The DC Distribution Networks Market in Argentina is being driven by Better transmission capacity
The DC Distribution Networks Market in Argentina is expected to grow at a CAGR of 7.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 72.7 million. In the energy sector, the growing emphasis on renewable energy sources and the increasing regulations on fossil fuel usage are driving the need for greater integration of conventional and renewable energy systems. Solar energy, which generates direct current (DC) when sunlight strikes solar panels, is projected to meet approximately one-third of the world's energy demands by 2060. This trend is attributed to the fact that over 80% of businesses and residential consumers utilize equipment that operates on DC power. Consequently, the proliferation of DC distribution networks is expected to become a significant component of the global energy landscape.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Telecom, Industrial, Commercial, Others) Type (Medium voltage, Low voltage, High voltage) Geography (South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in DC Distribution Networks Market in Argentina Research Report
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The DC distribution network market in Argentina is witnessing significant growth due to the integration of renewable energy sources, such as solar and wind, into the power grid. Battery energy systems and photovoltaic panels are key components of this transition, with power electronic converters and energy storage systems ensuring power quality. Advanced distribution networks, including smart grids and microgrids, utilize voltage source converters and DC current for efficient energy transmission. Decentralization is a trend, with digital solutions, cybersecurity, and IoT playing crucial roles. Hybrid AC-DC systems and standardized smart converters are also important, as is the integration of electric vehicles and transportation systems into renewable energy grids. Battery technologies and smart grids are essential for the successful implementation of these advanced systems.
The DC Distribution Networks Market in Argentina is a segment of the larger global Electrical Components and Equipment Market, which encompasses companies producing electrical cables and wires, electrical components, and electrical equipment. This market size is determined by the consolidated revenue of manufacturers specializing in water heaters and accessories, motors, motor control, power electronic converters, energy storage systems, photovoltaic panels, and various automation solutions. Additionally, the rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors are included in the market's scope. Key technologies in the DC Distribution Networks Market include power quality management, battery energy systems, DC current, and renewable energy integration. Furthermore, the integration of electric vehicles (EV) and microgrids into the electrical infrastructure adds to the market's significance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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