GLENN ALLEN, VA /Marketwire/ -- According to a new report from NanoMarkets, a Virginia-based industry analyst firm, the rollout of the smart grid will create significant new opportunities for sensor manufacturers. The report, "Sensors for the Smart Grid: Market Opportunities 2010-2017," claims that building the new smart grid infrastructure will generate $11.4 billion revenue for sensors and related products. Additional details about the report can be found at the company's Web site.
The new report is the latest in a series from NanoMarkets that analyzes the opportunities that will emerge from the smart grids. Other reports from NanoMarkets address batteries and super capacitors, cables and insulators, customer premise equipment, and regulatory policy analysis of smart grids.
NanoMarkets forecasts that sensors for remote monitoring of transformers will generate $2.3 billion in revenues in 2017. Many transformers in the grid currently receive no attention until they fail, a cause of major blackouts. The key measure of transformer health is dissolved gas and moisture analysis of the insulating oil. Thus, equipping smart grid transformers with remote inspection dissolved gas monitors will provide the necessary eyes and ears to effectively monitor and protect transformer assets in real time. Remote inspection of transformers will be a key area for the implementation of sensors in the distribution network.
One of the key goals of creating the smart grid is to enable more electricity to be carried on the transmission network, and sensors can help achieve this goal in a variety of ways. One especially important example is dynamic line rating, a method to increase power flow over existing transmission lines, enabled by increased situational awareness of weather and line temperature conditions. Real-time information about current weather conditions can then be used to calculate the true carrying capacity, increasing the allowable flow capacity by 10%–15%. By 2017, sensors for dynamic line rating devices in the smart grid are expected to account for more than $1.0 billion in revenue.
According to NanoMarkets, by 2017, about $2.3 billion will also be spent on sensors for home-area networks (HAN). The biggest opportunity in this segment will be for appliances. Major companies, including GE, LG, and Whirlpool, have already committed to making a significant portion of their product line smart-enabled within the coming years. Deploying sensors that link home appliances with smart meters will significantly increase overall energy efficiency and reduce peak demand generation requirements.
About the Report
NanoMarkets' new report provides an in-depth analysis of the emerging market for sensors in the smart grid. Areas covered include sensors for energy monitoring, load balancing sensors, security monitoring, and equipment inspection. We examine the markets for such sensors in the transmission and distribution networks of the power companies and in the home.
As with all NanoMarkets reports, this report contains a granular eight-year forecast in volume and value terms. It also includes an assessment of the strategies of the leading players in this space, as well the activities of the major standards organizations and their role in creating a smart sensor–friendly grid ecosystem. The report also discusses the differences in the smart grid sensor market among the major industrialized countries of the world.
NanoMarkets tracks and analyzes emerging market opportunities in energy and electronics markets, created by developments in advanced materials. For a full listing of the firm's reports, as well as downloadable white papers and report summaries please visit the company's Web site.