Substation Automation Market Size, Business Growth, Development Strategy, Sales Revenue, Emerging Trends, Future Plans, Company Profile and Comprehensive Research Study Till 2023

Market Research Future
Market Research Future published a research report on “Global Substation Automation Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Companies such as Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (U.S.), EATON Corp. (U.S.), Larsen & Toubro Limited (India), Power System Engineering, Inc. (U.S.), Texas Instruments (U.S), Toshiba Corporation (Japan), are the leading providers of substation automation solutions in the global market. The growing demand for retrofitting of conventional substations and smart grid are some of the main driving factors of the Substation Automation Market growth. The smart grid helps in reliability and productivity of power systems. On 03rd April 2017, GE signed a contract to deliver four electricity substations to power infrastructure in Saudi Arabia. This contract includes substation automation to regional control centers via SCADA system.

The advanced smart substation automation system is boosting the demand of substation automation market because it is widely used in the applications of power systems. The implementation of conventional protection is vital for substation. The requirement of these system are used for protection and control of these automation. It monitors the equipment’s condition. These systems are integrated with intelligent electronic devices that can protect and control the system and offer high performance remote functions of power system management.

The global substation automation market is expected to reach USD 51 Billion by the year 2023 at a CAGR of 6%.

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Industry News

April 2018– Siemens has announced a strengthened digital T&D portfolio across key areas including substations, transformer maintenance and grid planning. Advantaging Siemens’ global focus on the growth of the Internet of Things, the company aims to incorporate digitally-driven solutions into its grid-facing businesses including digital substations that can operate more economically.

April 2018, G&W Electric and GE’s Grid Solutions have collaborated on the development of a new integrated recloser solution. G&W’s Viper Recloser has been designed and tested to work seamlessly with GE’s new Multilin® R650 recloser control. It delivers comprehensive performance in protection, monitoring, control, automatic network configuration and communications.

April 2018– ABB has secured a contract worth over $90m from Dubai Electricity and Water Authority (DEWA) to construct the Shams 400kV substation at the Mohammed bin Rashid Al Maktoum solar park in Dubai.

Key Players

Some of the prominent players in the global substation automation market are Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (U.S.), Tropos Network (U.S.), EATON Corp. (U.S.), Encore Networks (U.S.), Grid Net (U.S.), Cisco Systems, Inc. (U.S.), Cooper Industries (U.S.), Larsen & Toubro Limited (India), Power System Engineering, Inc. (U.S.), Texas Instruments (U.S.), Axiomtek  Co. Ltd (Taiwan),Toshiba Corporation (Japan), Ametek (U.S.), SAE  IT-systems GmbH & Co. KG (Germany), among others.

Substation Automation Global Market – Segmentation

  • Segmentation by Component: Recloser Controller, Capacitor Bank Controller, Smart Meter, Load Tap Controller, others
  • Segmentation by Module: Comprises of SCADA, Intelligent Electronic Device, Communication Network and others
  • Segmentation by Communication Channel: Comprises of Ethernet, copper wire communication, power line communication, optical fiber communication and others.
  • Segmentation by Industry: Comprises of utility, transportation, mining, steel, and others
  • Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Substation Automation Global Market – Regional Analysis

The geographical analysis of Substation Automation market is dominated by North America, which is estimated to account for the largest share of the market, followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth factor in Substation Automation market in North America is attributed to increasing popularity of advanced intelligent electronic device and communication technologies, which is propelling the substation automation market growth. The major growth factor for Europe is the increasing demand for smart grids.

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Intended Audience

  • Associations, organizations, forums, and alliances
  • Cloud service providers
  • Customer experience solution providers
  • Government bodies and departments
  • Substation automation companies
  • Substation automation providers
  • Technical universities
  • System integrators
  • Managed Security Service Providers
  • Professional service providers
  • Research and development companies
  • Market research and consulting firms
  • Solution providers
  • Technology standards organizations
  • Technology investors
  • System Integrators

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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