According to the latest report by IMARC Group, titled “Substation Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global substation automation market experienced strong growth during 2012-2019. Substation automation is the process of using data from intelligent electronic devices (IEDs). It is used for employing control and automation capabilities within the substation while controlling commands from remote users. It uses substation and feeder operating functions and applications for optimizing the management of capital assets. Its deployment is also known to improve the operating efficiency of the system by minimizing human intervention. Consisting of circuit breakers, transformers, microprocessor-based relays and motor-operated air switches, these systems offer numerous benefits, such as detecting fault locations, minimizing outages, reducing operating and maintenance costs, enhancing information management and offering security control with multiple access levels. As a result, it is widely being adopted across numerous industry verticals, including mining, oil and gas, and transportation.
Some of the Top Companies in Substation Automation Market include-
1. ABB Ltd (NYSE: ABB)
2. Eaton Corporation PLC (NYSE: ETN)
3. General Electric Company (NYSE: GE)
4. Aetheros, Inc. (NASDAQ: MM)
5. LARSEN & TOUBRO/S GDR REGS (OTCMKTS: LTOUF)
6. Power System Engineering, Inc.
7. SAE IT-systems GmbH & Co. KG
8. SCHNEIDER ELEC /ADR (OTCMKTS: SBGSY)
9. Siemens AG (OTCMKTS: SIEGY)
Request for a free PDF sample copy of this report- https://www.imarcgroup.com/substation-automation-market/requestsample
Global Substation Automation Market Trends-
The global market is primarily driven by the continual developments in the transmission and distribution (T&D) infrastructure. Automated substations are a key component of electricity T&D processes. Significant investments to improve the aging T&D infrastructure, along with the increasing adoption of renewable energy and natural gas power, is creating a positive outlook for the market. Additionally, the growing demand for the development of smart grids, in confluence with the emerging trend of smart cities, is catalyzing the demand for substation automation. Technological advancements, such as SCADA and development in communication technologies, are also anticipated to provide a thrust to the market growth. Additionally, various manufacturers are integrating primary equipment with modern sensors, protective relays, programmable logic controllers and digital transducers, which are projected to spur the market growth. This will be further supported by rapid industrialization, growing requirement for retrofitting and improvement of existing substation equipment, along with favorable government initiatives and extensive research and development (R&D). On account of the aforementioned factors, the market is projected to expand at a CAGR of around 5% during the forecast period (2020-2025).
Buy full report with table of contents- https://www.imarcgroup.com/substation-automation-market
Key Market Segmentation-
- Based on the module type, the market has been divided into intelligent electronic devices, communication networks and SCADA systems.
- On the basis of the component, the market has been classified into hardware (reclose controllers, programmable logical controllers, capacitor banks, smart meters, load tap changers, digital relays, fiber-optic cables and others), software (production, asset and performance management software) and services (installation and commissioning, upgradation and retrofitting, testing, repair and maintenance, and others).
- Based on the communication channel, the market has been segregated into ethernet, copper wire communication, power line communication, optical fiber communication and others.
- On the basis of the substation type, the market has been bifurcated into transmission and distribution.
- Based on the installation type, the market has been categorized into new and retrofit installations.
- On the basis of the region, the market has been segmented into utility, transportation, metals and mining, oil and gas, and others.
- On the geographical front, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
Browse More Research Reports in Electronics and Semiconductors Industry-
- North America Smart Lighting Market Research Report- https://www.imarcgroup.com/north-america-smart-lighting-market
- Global Solar Microinverter Market Research Report- https://www.imarcgroup.com/solar-microinverter-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Company Name: IMARC Group
Contact Person: Richard Lewis
Email: Send Email
Address:30 N Gould St, Ste R
Country: United States