Substation automation has evolved as an integral part of the electricity distribution system. Substations work by receiving electricity at high voltage and then distributing it at an appropriate level. This entire process of electricity generation, transmission and distribution depend heavily on intelligent electronic devices (IED) and remotely controlled devices. Automation provides necessary support for the better functioning of the substation. The global substation automation market is expecting a 6% CAGR to climb up to USD 51 billion market valuation during the forecast period (2017-2023). Market research Future’s (MRFR) report indicates at smart grids enhancing grid performance, reliability, and an effort to reduce the transmission and distribution loss as major factors to influence the market growth. Industrial upheaval in emerging economies is also providing gateways for further market proliferation and prosperity. Aging infrastructures in many regions need revamping which can contribute to the all over substation automation market growth.
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The global substation automation market of substation automation is witnessing several strategical methods getting applied by market superiors to increase profitability. These tactical moves include merger, acquisition, new product launches, collaborations and other ways enabling companies to expand their product portfolio.
For instance, to increase market penetration, Schneider Electric has decided to explore the MEA region by implementing their strategies for smart cities.
ABB’s taking over GE Industrial Solutions in June 2018, the latter’s electrification solutions business can be considered a decisive step which helped ABB in cementing its global position.
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), and others.
The global market has been segmented on the basis of communication channel, component, module, and industry.
- Based on the component, the global substation automation market has been segmented into recloser controller, smart meter, load tap controller, capacitor bank controller, and others.
- Based on the module, the global market has been segmented into supervisory control and data acquisition (SCADA), communication network, intelligent electronic device, and others.
- Based on the communication channel, the global market has been segmented into ethernet, power line communication, copper wire communication, optical fiber communication, and others.
- Based on the industry, the global market has been segmented into mining, utility, transportation, steel, and others.
On the basis of region, the substation automation market has been studied across three key regions; North America, Asia-Pacific, and Europe and the Rest-of-the-World (RoW).
The surge in demand for simplifying the process of supplying electricity in is expected to bolster the North American substation automation market. Rapid technical advancements in North America is favoring the regional substation automation market growth. Moreover, the infrastructural superiority can amplify the regional substation automation market expansion.
The substation automation market is observed is observed to emerge in the European region. MRFR accredits the mounting requirement for smart grids in Europe to likely, spur the regional substation automation market over the forecast period. Hence, the European substation automation market is expected to record a significant growth, garnering a considerable CAGR in the coming years.
The flourishing energy and power sector in the Asia Pacific region, especially in strong economies like Japan, China, and India can augment the regional substation automation market growth. Besides, the presence of leading market players like Toshiba Corporation (Japan) and Larsen & Toubro Limited (India) is also anticipated to impact the APAC substation market positively. The shift in the APAC government’s focus to fulfil the rising need to curb down the distribution loss of electricity is noted to increase the adoption of substation automation. Hence, the APAC substation automation is likely to witness a substantial growth over the review period.
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- 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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