World Electric Power Substation Automation Market - Opportunities and Forecasts, 2020-2027
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Mar 2020 |
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Electric power substation has improved the way substations were controlled earlier and have enhanced the way critical data were accumulated. Besides this, the electric power substations are generally managed by automatic elements as well as IEDs including recloser controls, digital protection relays, voltage controls and others.
Growing need for high productivity as well as reliability in grids have contributed to the growth of the market. Moreover, reduced capital spending has also kept the market prospect high. Rising requirement for smart grid solution is driving the electric power substation automation market worldwide. Capability to reduce the transmission as well as distribution loss would keep the future of the market robust. Lack of skilled resources and high installation cost has hindered the growth of the market to a greater extent. Absence of interoperability policies worldwide too has obstructed the market growth. Recent developments in communication technologies are expected to create greater opportunities worldwide. Efficient energy management solutions for residence and office would open new avenues
The electric power substation automation market is segmented based on automation stage, module, end-user, type and geography. Automation stages covered during the study are retrofit as well as new construction automation stage. The modules discussed on the market research report are SCADA, hardware and communication network technology. The key end users of the market are utilities and industry. The types assessed during the research are collector, transmission and distribution. Regions such as North America, Europe, Asia- Pacific and LAMEA would witness tremendous growth.
The key market players active in the market are Ingeteam, ABB Ltd., Schneider Electric, Siemens AG, Amperion, General Electric, Alstom S.A., Cisco Systems, Eaton Corporation and Schweitzer Engg Lab.
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ELECTRIC POWER SUBSTATION MARKETKEYSEGMENTS
Electric Power Substation Automation Market By Automation Stage
- Retrofit
- New Construction Automation Stage
Electric Power Substation Automation Market By Module
- SCADA
- Hardware
- Communication Network Technology
Electric Power Substation Automation Market By End User
- Utilities
- Industry
Electric Power Substation Automation Market By Type
- Collector
- Transmission
- Distribution
Electric Power Substation Automation Market By Geography
- North America
- Europe
- Asia Pacific
- LAMEA
Key Players
- Ingeteam
- ABB Ltd.
- Schneider Electric
- Siemens AG
- Amperion
- General Electric
- Alstom S.A.
- Cisco Systems
- Eaton Corporation
- Schweitzer Engg Lab.
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