Substation Automation
Substation Automation Market Forecasts to 2030 - Global Analysis By Type of Automation (Distribution Substation Automation, Transmission Substation Automation, and Compact Substation Automation), Module Type, Offering, Component, Installation Type, Communication, Type of Substation, Voltage Level, Application, End User and By Geography
According to Stratistics MRC, the Global Substation Automation Market is accounted for $31.62 billion in 2024 and is expected to reach $50.74 billion by 2030 growing at a CAGR of 8.2% during the forecast period. Substation automation refers to the use of advanced technology to monitor, control, and protects electrical substations, improving their efficiency, reliability, and safety. It involves the integration of sensors, communication systems, and intelligent electronic devices (IEDs) to automate tasks such as fault detection, data acquisition, and equipment control. Substation automation systems enable real-time monitoring, remote operation, and faster response to faults, enhancing grid stability and reducing operational costs.
According to data from the US Energy Information Administration, renewable energy accounted for 8.4% of total primary energy production and 21% of total utility-scale power generation in the United States in 2022.
Market Dynamics:
Driver:
Increasing industrial and urbanization growth
The rapid growth of industrialization and urbanization is a key driver of the Substation Automation market. As cities expand and industrial sectors evolve, the demand for a stable, efficient and reliable power supply increases significantly. Substation automation helps address this growing need by enhancing grid management, reducing power outages, and improving overall operational efficiency. Automated substations enable utilities to meet the higher energy demands of urban populations and industries while ensuring the safe distribution of electricity. As urban areas continue to grow and industrial activities intensify, the need for advanced substation automation systems will only continue to rise.
Restraint:
Lack of skilled workforce
Implementing and maintaining automated substation systems requires specialized knowledge in electrical engineering, automation technologies, and cyber security. The growing complexity of these systems, coupled with a shortage of trained professionals, can hinder the successful deployment of automation solutions. Additionally, the fast-paced evolution of technology necessitates continuous training and up skilling of personnel, which can be resource-intensive for utilities and service providers. The scarcity of skilled technicians and engineers can delay the adoption of automation technologies and impact the efficiency of substation operations.
Opportunity:
Growing demand for reliable and efficient power systems
The increasing need for dependable and efficient power systems is a major factor driving the growth of the Substation Automation market. Improving the effectiveness and dependability of power distribution networks is critically needed as the world's energy consumption rises, particularly in urban and industrial areas. By facilitating real-time monitoring, speedier problem identification, and quicker service restoration, automated substations assist utilities in better managing complex power networks. Further adoption of substation automation technology will be driven by the need for smarter, more dependable systems to provide an uninterrupted supply of energy as power needs continue to rise.
Threat:
Complexity and integration challenges
The complexity of implementation and integration presents major challenges in the Substation Automation market. Implementing automated systems requires seamless integration with existing infrastructure, including legacy equipment and software, which can be complex and time-consuming. Many older substations lack the necessary digital infrastructure to support advanced automation technologies, necessitating costly upgrades. The need to ensure the interoperability of new and old systems while maintaining grid stability makes the integration of automation solutions a technically demanding and expensive process, especially for utilities with limited resources.
Covid-19 Impact
The COVID-19 pandemic had a mixed impact on the Substation Automation market. While the disruption of global supply chains and delays in infrastructure projects temporarily slowed market growth, the pandemic also accelerated the adoption of automation technologies. The need for automated solutions grew as utilities concentrated on reducing human intervention and improving remote monitoring capabilities. Additionally, the need for more resilient power grids to cope with unforeseen challenges like the pandemic pushed utilities to invest in advanced substation automation solutions for improved reliability and efficiency.
The hardware segment is expected to be the largest during the forecast period
The hardware segment is estimated to be the largest, due to the growing demand for advanced and reliable power systems. To automate substations and enhance grid performance, hardware elements including transformers, circuit breakers, intelligent electronic devices (IEDs), and communication devices are crucial. By enabling remote control, defect detection, and real-time monitoring, these parts improve operational effectiveness and decrease downtime. Substation hardware needs are growing as utilities and industry concentrate on modernizing their infrastructure to guarantee dependable power distribution.
The steel segment is expected to have the highest CAGR during the forecast period
The steel segment is anticipated to witness the highest CAGR during the forecast period, due to its use in the construction of robust substation infrastructure. Steel is essential for building durable and secure structures such as transmission towers, switchgear enclosures, and equipment racks, ensuring the safety and stability of the electrical grid. The requirement for high-quality steel components to support automated substations is growing along with the demand for dependable, long-lasting power systems, which is driving up steel demand in this industry.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period due to fast growth in manufacturing, urbanization, and rising energy use. The need for dependable and effective grid management systems is increasing as nations like China, India, and Japan concentrate on updating their outdated electrical infrastructure. Substation automation lowers operating costs, integrates renewable energy sources, and optimizes power distribution. The region's adoption of automation solutions is also accelerated by government programs supporting smart grid technologies and energy infrastructure expenditures.
Region with highest CAGR:
During the forecast period, the North America region is anticipated to register the highest CAGR, owing to the necessity of updating outdated infrastructure, boosting operational effectiveness, and strengthening grid reliability. Substation automation provides solutions for real-time monitoring, problem detection, and system optimization as the region deals with rising energy demands and a greater integration of renewable energy sources. Furthermore, the region's utilities and industrial sectors are adopting automated systems at a faster rate because to government programs supporting smart grids, automation, and communication technology improvements.
Key players in the market
Some of the key players profiled in the Substation Automation Market include Siemens AG, Schneider Electric, ABB Ltd., General Electric (GE), Eaton Corporation, Honeywell International Inc., Mitsubishi Electric Corporation, Rockwell Automation, LS Electric, Emerson Electric Co., Toshiba Corporation, Hitachi Energy, Renu Electronics, Bharat Heavy Electricals Limited (BHEL), S&C Electric Company, Schweitzer Engineering Laboratories (SEL), Yokogawa Electric Corporation, and NARI Technology Co., Ltd.
Key Developments:
In June 2023, Siemens introduced its advanced digital substation solution, integrating the latest automation and communication technologies for enhanced grid control and monitoring. The solution aims to improve the efficiency, reliability, and flexibility of electrical substations.
In March 2023, ABB launched its Ability™ EDCS, a new system for automating the control and monitoring of electrical distribution networks. It provides utilities with real-time data, predictive analytics, and enhanced fault detection capabilities to improve grid resilience.
In October 2022, GE Grid Solutions launched a new digital substation automation system designed to optimize the management and operation of electrical grids. The system combines the latest in cyber security features with enhanced communication and control capabilities.
Type of Automations Covered:
• Distribution Substation Automation
• Transmission Substation Automation
• Compact Substation Automation
Module Types Covered:
• SCADA
• IED
• Communication Network
Offerings Covered:
• Hardware
• Software
• Services
Components Covered:
• Load Tap Controller
• Smart Meter
• Capacitor Bank Controller
• Recloser Controller
Installation Types Covered:
• New Installations
• Retrofit Installations
Communications Covered:
• Ethernet
• Power Line Communication
• Copper Wire Communication
• Optical Fiber Communication
Type of Substations Covered:
• Gas-insulated Substation (GIS)
• Air-insulated Substation (AIS)
Voltage Levels Covered:
• High Voltage (HV)
• Medium Voltage (MV)
• Low Voltage (LV)
Applications Covered:
• Monitoring & Control
• Fault Detection & Diagnosis
• Protection
• Automation of Substation Equipment
• Other Applications
End Users Covered:
• Utilities
• Steel
• Oil & Gas
• Mining
• Transportation
• Industrial
• Commercial
• Other End Users
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 2022, 2023, 2024, 2026, and 2030
- 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 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Substation Automation Market, By Type of Automation
5.1 Introduction
5.2 Distribution Substation Automation
5.3 Transmission Substation Automation
5.4 Compact Substation Automation
6 Global Substation Automation Market, By Module Type
6.1 Introduction
6.2 SCADA
6.3 IED
6.4 Communication Network
7 Global Substation Automation Market, By Offering
7.1 Introduction
7.2 Hardware
7.3 Software
7.4 Services
8 Global Substation Automation Market, By Component
8.1 Introduction
8.2 Load Tap Controller
8.3 Smart Meter
8.4 Capacitor Bank Controller
8.5 Recloser Controller
9 Global Substation Automation Market, By Installation Type
9.1 Introduction
9.2 New Installations
9.3 Retrofit Installations
10 Global Substation Automation Market, By Communication
10.1 Introduction
10.2 Ethernet
10.3 Power Line Communication
10.4 Copper Wire Communication
10.5 Optical Fiber Communication
11 Global Substation Automation Market, By Type of Substation
11.1 Introduction
11.2 Gas-insulated Substation (GIS)
11.3 Air-insulated Substation (AIS)
12 Global Substation Automation Market, By Voltage Level
12.1 Introduction
12.2 High Voltage (HV)
12.3 Medium Voltage (MV)
12.4 Low Voltage (LV)
13 Global Substation Automation Market, By Application
13.1 Introduction
13.2 Monitoring & Control
13.3 Fault Detection & Diagnosis
13.4 Protection
13.5 Automation of Substation Equipment
13.6 Other Applications
14 Global Substation Automation Market, By End User
14.1 Introduction
14.2 Utilities
14.3 Steel
14.4 Oil & Gas
14.5 Mining
14.6 Transportation
14.7 Industrial
14.8 Commercial
14.9 Other End Users
15 Global Substation Automation Market, By Geography
15.1 Introduction
15.2 North America
15.2.1 US
15.2.2 Canada
15.2.3 Mexico
15.3 Europe
15.3.1 Germany
15.3.2 UK
15.3.3 Italy
15.3.4 France
15.3.5 Spain
15.3.6 Rest of Europe
15.4 Asia Pacific
15.4.1 Japan
15.4.2 China
15.4.3 India
15.4.4 Australia
15.4.5 New Zealand
15.4.6 South Korea
15.4.7 Rest of Asia Pacific
15.5 South America
15.5.1 Argentina
15.5.2 Brazil
15.5.3 Chile
15.5.4 Rest of South America
15.6 Middle East & Africa
15.6.1 Saudi Arabia
15.6.2 UAE
15.6.3 Qatar
15.6.4 South Africa
15.6.5 Rest of Middle East & Africa
16 Key Developments
16.1 Agreements, Partnerships, Collaborations and Joint Ventures
16.2 Acquisitions & Mergers
16.3 New Product Launch
16.4 Expansions
16.5 Other Key Strategies
17 Company Profiling
17.1 Siemens AG
17.2 Schneider Electric
17.3 ABB Ltd.
17.4 General Electric (GE)
17.5 Eaton Corporation
17.6 Honeywell International Inc.
17.7 Mitsubishi Electric Corporation
17.8 Rockwell Automation
17.9 LS Electric
17.10 Emerson Electric Co.
17.11 Toshiba Corporation
17.12 Hitachi Energy
17.13 Renu Electronics
17.14 Bharat Heavy Electricals Limited (BHEL)
17.15 S&C Electric Company
17.16 Schweitzer Engineering Laboratories (SEL)
17.17 Yokogawa Electric Corporation
17.18 NARI Technology Co., Ltd.
List of Tables
1 Global Substation Automation Market Outlook, By Region (2022-2030) ($MN)
2 Global Substation Automation Market Outlook, By Type of Automation (2022-2030) ($MN)
3 Global Substation Automation Market Outlook, By Distribution Substation Automation (2022-2030) ($MN)
4 Global Substation Automation Market Outlook, By Transmission Substation Automation (2022-2030) ($MN)
5 Global Substation Automation Market Outlook, By Compact Substation Automation (2022-2030) ($MN)
6 Global Substation Automation Market Outlook, By Module Type (2022-2030) ($MN)
7 Global Substation Automation Market Outlook, By SCADA (2022-2030) ($MN)
8 Global Substation Automation Market Outlook, By IED (2022-2030) ($MN)
9 Global Substation Automation Market Outlook, By Communication Network (2022-2030) ($MN)
10 Global Substation Automation Market Outlook, By Offering (2022-2030) ($MN)
11 Global Substation Automation Market Outlook, By Hardware (2022-2030) ($MN)
12 Global Substation Automation Market Outlook, By Software (2022-2030) ($MN)
13 Global Substation Automation Market Outlook, By Services (2022-2030) ($MN)
14 Global Substation Automation Market Outlook, By Component (2022-2030) ($MN)
15 Global Substation Automation Market Outlook, By Load Tap Controller (2022-2030) ($MN)
16 Global Substation Automation Market Outlook, By Smart Meter (2022-2030) ($MN)
17 Global Substation Automation Market Outlook, By Capacitor Bank Controller (2022-2030) ($MN)
18 Global Substation Automation Market Outlook, By Recloser Controller (2022-2030) ($MN)
19 Global Substation Automation Market Outlook, By Installation Type (2022-2030) ($MN)
20 Global Substation Automation Market Outlook, By New Installations (2022-2030) ($MN)
21 Global Substation Automation Market Outlook, By Retrofit Installations (2022-2030) ($MN)
22 Global Substation Automation Market Outlook, By Communication (2022-2030) ($MN)
23 Global Substation Automation Market Outlook, By Ethernet (2022-2030) ($MN)
24 Global Substation Automation Market Outlook, By Power Line Communication (2022-2030) ($MN)
25 Global Substation Automation Market Outlook, By Copper Wire Communication (2022-2030) ($MN)
26 Global Substation Automation Market Outlook, By Optical Fiber Communication (2022-2030) ($MN)
27 Global Substation Automation Market Outlook, By Type of Substation (2022-2030) ($MN)
28 Global Substation Automation Market Outlook, By Gas-insulated Substation (GIS) (2022-2030) ($MN)
29 Global Substation Automation Market Outlook, By Air-insulated Substation (AIS) (2022-2030) ($MN)
30 Global Substation Automation Market Outlook, By Voltage Level (2022-2030) ($MN)
31 Global Substation Automation Market Outlook, By High Voltage (HV) (2022-2030) ($MN)
32 Global Substation Automation Market Outlook, By Medium Voltage (MV) (2022-2030) ($MN)
33 Global Substation Automation Market Outlook, By Low Voltage (LV) (2022-2030) ($MN)
34 Global Substation Automation Market Outlook, By Application (2022-2030) ($MN)
35 Global Substation Automation Market Outlook, By Monitoring & Control (2022-2030) ($MN)
36 Global Substation Automation Market Outlook, By Fault Detection & Diagnosis (2022-2030) ($MN)
37 Global Substation Automation Market Outlook, By Protection (2022-2030) ($MN)
38 Global Substation Automation Market Outlook, By Automation of Substation Equipment (2022-2030) ($MN)
39 Global Substation Automation Market Outlook, By Other Applications (2022-2030) ($MN)
40 Global Substation Automation Market Outlook, By End User (2022-2030) ($MN)
41 Global Substation Automation Market Outlook, By Utilities (2022-2030) ($MN)
42 Global Substation Automation Market Outlook, By Steel (2022-2030) ($MN)
43 Global Substation Automation Market Outlook, By Oil & Gas (2022-2030) ($MN)
44 Global Substation Automation Market Outlook, By Mining (2022-2030) ($MN)
45 Global Substation Automation Market Outlook, By Transportation (2022-2030) ($MN)
46 Global Substation Automation Market Outlook, By Industrial (2022-2030) ($MN)
47 Global Substation Automation Market Outlook, By Commercial (2022-2030) ($MN)
48 Global Substation Automation Market Outlook, By Other End Users (2022-2030) ($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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