Substation Automation Market Overview:
Global substation automation market size was valued at $106,891 million in 2015 and is expected to reach $154,876 million by 2022, growing at a CAGR of 5.5% from 2016 to 2022.This market is expected to witness significant growth in forthcoming years as substations are critical part of electrical infrastructure. They perform critical functions such as step-up/step-down voltage regulation and form the basic part of generation, transmission, and distribution systems. The features of substation automation are monitoring and controlling of substation devices using modules such as intelligent electronic devices) (IEDs) and two-way communications through remote access. The aim is to monitor and control the substation instruments to reduce the incidence and duration of power outages.
Global substation automation market is segmented on the basis of module, component, communication channel, and geography. On the basis of component, it is further sub-divided into programmable logic controller, load tap changer, reclose controller, capacitor bank controller, digital transducer, digital relays, communication channel, and others. Based on the communication channel, the market is further segmented into Ethernet, copper wire communication, power line communication, and optical fiber communication. On the basis of geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.
Market Segmentation
The growth of substation automation market is driven by factors such as rise in electricity demand globally as well as upsurge of smart grids and need of upgradation of the existing networks. However, high cost of installation and cyber-attacks are the factors that hinder the market growth. Irrespective of these challenges, advancement in communication technologies and utilization of renewable & non-conventional energy resources created numerous opportunities for the substation automation market growth.
Market Dynamics
The substation automation market is largely driven by the product launch strategy. Agreements & partnerships and merger & acquisition are other prominent strategies adopted by key players always to remain competitive in the market. Almost 30% of the top strategies involved agreements & partnerships with product launches in addition, 20% of the chosen strategies are accounted due to partnerships & agreements with expansions.
Major players in the substation automation industry include Ingeteam, ABB Ltd, Schneider Electric SE, Siemens AG, Amperion Inc, GE Grid Solutions, Cisco Systems Inc, Eaton Technologies Pvt. Ltd, Honeywell International and Schweitzer Engineering Laboratories, Inc.
Top Winning Strategies in the Substation Automation Market (2013-2016)
Key Benefits for Substation Automation Market
- This report also provides the detailed quantitative analysis of the current market and estimations throughout 2014-2022, which assists in identifying the prevailing market opportunities.
- Comprehensive analysis of all regions is provided to determine the prevailing and forthcoming opportunities in these geographies.
- Key market players are profiled, and their strategies are analyzed thoroughly, which helps in understanding competitive market outlook.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Exhaustive analysis of the market by modules helps in understanding the substation automation that are currently being used along with the variants that would eventually gain prominence in the future.
- SWOT analysis highlights the internal environment of the leading companies for effective strategy formulation.
Substation Automation Market Key Segments:
By Module
- SCADA
- IED
- Communication Network Technology
By Component
- Reclose Controller
- Programmable Logical Controller
- Capacitor Bank Controller
- Digital Transducer/Smart Meter
- Load Tap Controller
- Communication Channel
- Digital Relays
- Others
By Communication Channel
- Ethernet
- Power Line Communication
- Copper Wire Communication
- Optical Fiber Communication
By Geography
- North America
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Substation Automation Market Report Highlights
| Aspects | Details |
 By COMPONENTS |
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 By MODULE |
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 By COMMUNICATION CHANNEL |
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 By GEOGRAPHY |
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Analyst Review
Substation automation market holds a substantial scope for growth globally. High electricity demand, increasing share of renewable energy as well as replacement of old substation units provide exclusive opportunities for growth of this market. However, no power system is complete without substations and hence most of governments are providing initiatives to setup smart grids. Major segments in substation automation module market are SCADA, IEDs, and communication networks. IEDs occupy major market share owing to their widespread availability and utilization. Substation automation market is dominated by few key players; however, ever-increasing electricity demand provides opportunities for new players once they overcome the technological barriers.
As the power sector is the key indicator of economic growth, countries are investing in strengthening their power infrastructure to meet the growing demand for electricity. Therefore, increasing electricity demand and strong government support for new power projects together with utilization of renewable energy are estimated to fuel the growth of the substation automation market in the forthcoming years. However, cyber threats are a major concern for the market growth.
Currently, communication channel is widely utilized in substation automation, followed by digital relays and programmable logic controller. Globally, the most preferred mode of communication is copper wire communication, but utilization of power line communication is increasing as it carries both data and electrical current.
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