Global Substation Automation Market is expected to reach $240,644 million by 2027 growing at a CAGR of 7.5% during 2019 to 2027.
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.
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.
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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.
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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.
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Types Covered: • Distribution Substations
• Transmission Substations
Modules Covered: • Communication Networks • Intelligent Electronic Devices (IED)
• Supervisory Control and Data Acquisition (SCADA) Systems
Installation Types Covered: • New Installations
• Retrofit Installations
Offerings Covered: • Hardware • Services
Communication Channels Covered: • Optical Fiber Communication • Copper Wire Communication • Ethernet
• Power Line Communication
End Users Covered: • Mining • Oil and Gas • Steel • Transportation
• North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK 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
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