Substation Automation - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Substation Automation Market is accounted for $134,930 million in 2019 and is expected to reach $240,644 million by 2027 growing at a CAGR of 7.5% during the forecast period. Increase in demand for the smart grid solutions and emergence of smart cities to benefit the substation automation market are the major factors propelling the market growth. However, lack of global standards is hampering the market growth.
Substation automation is a process of using data from Intelligent Electronic Devices. It refers to overprotective and automating the ability within the substation and controlling power systems devices through instructions from remote users.
Based on the module, the intelligent electronic devices (IED) segment is likely to have a huge demand due to the upcoming deployment across the power sector. The growing demand for high voltage across commercial buildings and industries to operate machines is rapidly boosting the requirement for IEDs to reduce losses during distribution and optimizing efficiency.
By geography, Asia Pacific is estimated to have a lucrative growth due to the growing demand of rural electrification resulting in new projects, energy efficiency and smart power infrastructure in developing nations such as China and India in this region. Furthermore, favourable initiatives from governments in countries such as India, China, and Japan have led the demand across the entire region.
Some of the key players profiled in the Substation Automation Market include Novatech LLC, Crompton Greaves, Siemens AG, General Electric, Cisco Systems, Inc., Schneider Electric, Eaton Corporation PLC, Honeywell International, Inc., Schweitzer Engineering Laboratories, Inc., ABB Ltd., Igrid T&D, Cadillac Automation and Controls, I-Tor, Tekvel and Yamal Lng.
• Distribution Substations
• Transmission Substations
• Communication Networks
• Intelligent Electronic Devices (IED)
• Supervisory Control and Data Acquisition (SCADA) Systems
Installation Types Covered:
• New Installations
• Retrofit Installations
Communication Channels Covered:
• Optical Fiber Communication
• Copper Wire Communication
• Power Line Communication
End Users Covered:
• Oil and Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2018, 2019, 2020, 2024 and 2027
- 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
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