Market Research Future published a research report on “Substation Automation Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Substation Automation Global Market – Overview
The Global Substation Automation Market is growing with the rapid pace; mainly due to the growing demand for retrofitting of conventional substations and smart grid. According to a recent study report published by the Market Research Future, the global market of Substation Automation is growing rapidly and expected to gain prominence over the forecast period. The Substation Automation Market is projected to demonstrate a remarkable growth by 2023, beating its previous growth records in terms of value with a noticeable CAGR during the anticipated period (2017 – 2023).
The demand of substation automation market boosting due to its wide applications in the power systems. The implementation of conventional protection is important for substation. The requirement of these system are used for protection and control of these automation which monitors the equipment’s condition. These systems are integrated with intelligent electronic devices that can protect and control the system and offer high performance remote functions of power system management.
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Some of the 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), among others.
Substation Automation Global Market – Segmentation
- Segmentation by Component: Recloser Controller, Capacitor Bank Controller, Smart Meter, Load Tap Controller, others
- Segmentation by Module: Comprises of SCADA, Intelligent Electronic Device, Communication Network and others
- Segmentation by Communication Channel: Comprises of Ethernet, copper wire communication, power line communication, optical fiber communication and others.
- Segmentation by Industry: Comprises of utility, transportation, mining, steel, and others
- Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Substation Automation Global Market – Regional Analysis
The geographical analysis of Substation Automation market is dominated by North America, which is estimated to account for the largest share of the market, followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth factor in Substation Automation market in North America is attributed to increasing popularity of advanced intelligent electronic device and communication technologies, which is propelling the substation automation market growth. The major growth factor for Europe is the increasing demand for smart grids.
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April 2018– Siemens has announced a strengthened digital T&D portfolio across key areas including substations, transformer maintenance and grid planning. Advantaging Siemens’ global focus on the growth of the Internet of Things, the company aims to incorporate digitally-driven solutions into its grid-facing businesses including digital substations that can operate more economically.
April 2018, G&W Electric and GE’s Grid Solutions have collaborated on the development of a new integrated recloser solution. G&W’s Viper Recloser has been designed and tested to work seamlessly with GE’s new Multilin® R650 recloser control. It delivers comprehensive performance in protection, monitoring, control, automatic network configuration and communications.
April 2018– ABB has secured a contract worth over $90m from Dubai Electricity and Water Authority (DEWA) to construct the Shams 400kV substation at the Mohammed bin Rashid Al Maktoum solar park in Dubai.
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