Digital Substations Market
Digital Substations Market Forecasts to 2028 – Global Analysis By Type (Transmission, Distribution), Voltage (Low, High), Architecture (Station, Bay, Process), End User (Oil & Gas, Utility) and By Geography
According to Stratistics MRC, the Global Digital Substations Market is accounted for $6.40 billion in 2020 and is expected to reach $12.85 billion by 2028 growing at a CAGR of 9.1% during the forecast period. Growing usage of smart grid technology, increase in substation modernization and rising need for low-cost and flexible power solutions are driving the market growth. However, high initial investment is hampering the growth of the market.
Digital substation is an amalgamation of switchgear, transformers, substation automation, monitoring & diagnostics and the standard process bus process, and acts as the backbone of smart grids. They even grant real time phases measurement data, increasingly, required to control the power flow and keep the grid stable, despite the quickly rising share of alternating renewable energy sources.
Based on the voltage, the 220kV to 550kV segment is going to have lucrative growth during the forecast period due to the rising investments by companies in the utility sector, chiefly in the transmission infrastructure. These systems are mainly used in space-restricted places such as metropolitan and industrial areas.
By geography, North America is going to have high growth during the forecast period due to the rising the demand for electricity consumption is increasing because of the large consumer base and rapid industrialization in the region. Moreover government initiatives to enhance the legacy infrastructure and ongoing projects increase market growth.
Some of the key players profiled in the Digital Substations Market include Fuji Electric Co., Ltd., ABB Ltd, Siemens Corporation, Schneider Electric S.E., Cisco Systems, Inc., Honeywell International Inc., Eaton Corporation, Emerson Electric Co., NR Electric Co., Ltd., Larsen & Toubro Limited, Cadillac Automation and Controls and TEKVEL Ltd.
Types Covered:
• Transmission Substation
• Distribution Substation
Voltage Levels Covered:
• Low
• Medium
• High
Modules Covered:
• Supervisory Control and Data Acquisition (SCADA) Systems
• Hardware (Electrical System)
• Interfacing Units
• Fiber Optic Communication Network
• Substation Automation System
Installation Types Covered:
• New Installations
• Retrofit/Refurbished Installations
Architecture s Covered:
• Station
• Bay
• Process
Voltages Covered:
• Below 33 kV
• 33kV- 66kV
• 66kV to 110 kV
• 110kV-220 kV
• 220–550 kV
• Above 550 kV
End Users Covered:
• Metal & Mining
• Oil & Gas
• Transportation
• Utility
• Heavy Industries
• Power Generation
• Transportation & Logistics
• Defense & Aerospace
• Process & Manufacturing
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Digital Substations Market, By Type
5.1 Introduction
5.2 Transmission Substation
5.3 Distribution Substation
6 Global Digital Substations Market, By Voltage Level
6.1 Introduction
6.2 Low
6.3 Medium
6.4 High
7 Global Digital Substations Market, By Module
7.1 Introduction
7.2 Supervisory Control and Data Acquisition (SCADA) Systems
7.3 Hardware (Electrical System)
7.3.1 Busbars
7.3.2 Protection Devices
7.3.2.1 Condition Monitoring Systems & Control System
7.3.2.2 Protective Relays
7.3.2.3 Circuit Breakers/Switchgears
7.3.2 Transformers
7.4 Interfacing Units
7.4.1 Remote Terminal Units (RTU)
7.4.2 Programmable Logic Controllers (PLCs)
7.4.3 Human–Machine Interfaces (HMI)
7.5 Fiber Optic Communication Network
7.6 Substation Automation System
8 Global Digital Substations Market, By Installation Type
8.1 Introduction
8.2 New Installations
8.3 Retrofit/Refurbished Installations
9 Global Digital Substations Market, By Architecture
9.1 Introduction
9.2 Station
9.3 Bay
9.4 Process
10 Global Digital Substations Market, By Voltage
10.1 Introduction
10.2 Below 33 kV
10.3 33kV- 66kV
10.4 66kV to 110 kV
10.5 110kV-220 kV
10.6 220–550 kV
10.7 Above 550 kV
11 Global Digital Substations Market, By End User
11.1 Introduction
11.2 Metal & Mining
11.3 Oil & Gas
11.4 Transportation
11.5 Utility
11.5.1 Renewables
11.5.2 Non-Renewables
11.6 Heavy Industries
11.7 Power Generation
11.8 Transportation & Logistics
11.9 Defense & Aerospace
11.10 Process & Manufacturing
12 Global Digital Substations Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Fuji Electric Co., Ltd.
14.2 ABB Ltd
14.3 Siemens Corporation
14.4 Schneider Electric S.E.
14.5 Cisco Systems, Inc.
14.6 Honeywell International Inc.
14.7 Eaton Corporation
14.8 Emerson Electric Co.
14.9 NR Electric Co., Ltd.
14.10 Larsen & Toubro Limited
14.11 Cadillac Automation and Controls
14.12 TEKVEL Ltd.
List of Tables
1 Global Digital Substations Market Outlook, By Region (2019-2028) ($MN)
2 Global Digital Substations Market Outlook, By Type (2019-2028) ($MN)
3 Global Digital Substations Market Outlook, By Transmission Substation (2019-2028) ($MN)
4 Global Digital Substations Market Outlook, By Distribution Substation (2019-2028) ($MN)
5 Global Digital Substations Market Outlook, By Voltage Level (2019-2028) ($MN)
6 Global Digital Substations Market Outlook, By Low (2019-2028) ($MN)
7 Global Digital Substations Market Outlook, By Medium (2019-2028) ($MN)
8 Global Digital Substations Market Outlook, By High (2019-2028) ($MN)
9 Global Digital Substations Market Outlook, By Module (2019-2028) ($MN)
10 Global Digital Substations Market Outlook, By Supervisory Control and Data Acquisition (SCADA) Systems (2019-2028) ($MN)
11 Global Digital Substations Market Outlook, By Hardware (Electrical System) (2019-2028) ($MN)
12 Global Digital Substations Market Outlook, By Busbars (2019-2028) ($MN)
13 Global Digital Substations Market Outlook, By Protection Devices (2019-2028) ($MN)
14 Global Digital Substations Market Outlook, By Transformers (2019-2028) ($MN)
15 Global Digital Substations Market Outlook, By Interfacing Units (2019-2028) ($MN)
16 Global Digital Substations Market Outlook, By Remote Terminal Units (RTU) (2019-2028) ($MN)
17 Global Digital Substations Market Outlook, By Programmable Logic Controllers (PLCs) (2019-2028) ($MN)
18 Global Digital Substations Market Outlook, By Human–Machine Interfaces (HMI) (2019-2028) ($MN)
19 Global Digital Substations Market Outlook, By Fiber Optic Communication Network (2019-2028) ($MN)
20 Global Digital Substations Market Outlook, By Substation Automation System (2019-2028) ($MN)
21 Global Digital Substations Market Outlook, By Installation Type (2019-2028) ($MN)
22 Global Digital Substations Market Outlook, By New Installations (2019-2028) ($MN)
23 Global Digital Substations Market Outlook, By Retrofit/Refurbished Installations (2019-2028) ($MN)
24 Global Digital Substations Market Outlook, By Architecture (2019-2028) ($MN)
25 Global Digital Substations Market Outlook, By Station (2019-2028) ($MN)
26 Global Digital Substations Market Outlook, By Bay (2019-2028) ($MN)
27 Global Digital Substations Market Outlook, By Process (2019-2028) ($MN)
28 Global Digital Substations Market Outlook, By Voltage (2019-2028) ($MN)
29 Global Digital Substations Market Outlook, By Below 33 kV (2019-2028) ($MN)
30 Global Digital Substations Market Outlook, By 33kV- 66kV (2019-2028) ($MN)
31 Global Digital Substations Market Outlook, By 66kV to 110 kV (2019-2028) ($MN)
32 Global Digital Substations Market Outlook, By 110kV-220 kV (2019-2028) ($MN)
33 Global Digital Substations Market Outlook, By 220–550 kV (2019-2028) ($MN)
34 Global Digital Substations Market Outlook, By Above 550 kV (2019-2028) ($MN)
35 Global Digital Substations Market Outlook, By End User (2019-2028) ($MN)
36 Global Digital Substations Market Outlook, By Metal & Mining (2019-2028) ($MN)
37 Global Digital Substations Market Outlook, By Oil & Gas (2019-2028) ($MN)
38 Global Digital Substations Market Outlook, By Transportation (2019-2028) ($MN)
39 Global Digital Substations Market Outlook, By Utility (2019-2028) ($MN)
40 Global Digital Substations Market Outlook, By Renewables (2019-2028) ($MN)
41 Global Digital Substations Market Outlook, By Non-Renewables (2019-2028) ($MN)
42 Global Digital Substations Market Outlook, By Heavy Industries (2019-2028) ($MN)
43 Global Digital Substations Market Outlook, By Power Generation (2019-2028) ($MN)
44 Global Digital Substations Market Outlook, By Transportation & Logistics (2019-2028) ($MN)
45 Global Digital Substations Market Outlook, By Defense & Aerospace (2019-2028) ($MN)
46 Global Digital Substations Market Outlook, By Process & Manufacturing (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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