Global Electric Power Substation Automation Market Size Study & Forecast, by Type, by Offering, by Component, and Regional Analysis, 2023-2030

Description

List of Tables

Global Electric Power Substation Automation Market is valued at approximately USD 4.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% during the forecast period 2023-2030. Electric Power Substation Automation involves deploying advanced technologies such as Intelligent Electronic Devices (IEDs), communication networks, and automation software to enhance the control, monitoring, and efficiency of power substations. These substations play a major role in the power grid by facilitating the transmission, distribution, and transformation of electricity. It enables real-time data exchange, remote operation, and integration of renewable energy sources, contributing to improved reliability and operational efficiency in the power grid. The surge in demand for reliable power supply, rising integration of renewable energy sources, and increasing reliance on electricity for critical infrastructure are the key factors that are primarily attributed to the market demand across the globe.

In addition, the rising emphasis on grid modernization is acting as a catalyzing factor for the market demand at a substantial rate. There are various countries globally that are heavily investing in grid modernization to enhance the reliability and efficiency of power distribution networks. For instance, in November 2022, the U.S. Department of Energy (DOE) is allocating USD 13 billion, as part of the President's Bipartisan Infrastructure Law, for the expansion and enhancement of the national electric grid. This funding, distributed through the Grid Resilience Innovative Partnership (GRIP) program, encompasses the Transmission Facilitation Program (TFP). Representing the largest federal investment in transmission and distribution infrastructure, the initiative includes USD 3 billion for Smart Grid Grants to enhance the electric power system's capacity and prevent faults. Additionally, USD 2.5 billion is reserved for Grid Resilience Utility and Industry Grants, addressing various hazards such as wildfires, hurricanes, extreme weather, floods, and storms. This substantial investment is a significant step in the administration's Building a Better Grid Initiative, aiming for a total investment exceeding USD 20 billion. Automation improves the efficiency of power distribution, reduces downtime, and enhances the overall reliability of the grid. Grid modernization initiatives aim to transform traditional power grids into smart grids. Substation automation is a fundamental component of smart grids, enabling real-time monitoring, control, and optimization of the power distribution process. Thus, these aforementioned factors are propelling the growth of the Electric Power Substation Automation Market over the estimated period. Moreover, the rapid advancements in communication technologies, as well as increasing investments in power infrastructure by governments and private entities present various lucrative opportunities over the forecast years. However, the high initial investment required, and complexity associated with integration are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Electric Power Substation Automation Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing integration of renewable energy sources, growing demand for reliable power supply, along rapid advancements in communication protocols such as IEC 61850, sensor technologies, data analytics, and automation software. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The increasing trend among companies to adopt 5G technology is leading to the incorporation of this advanced technology into components such as Intelligent Electronic Devices (IEDs) and Programmable Logic Controllers (PLCs). Additionally, there is a rise in the deployment of utility projects and an increase in electrification of rural and urban regions are significantly propelling the market demand across the region.

Major market players included in this report are:

Honeywell International Inc.
NovaTech, LLC
Itron, Inc.
Hitachi, Ltd.
Rockwell Automation Inc.
Cisco Systems, Inc.
Eaton Corporation
Siemens AG
ABB Ltd.
Schneider Electric SE

Recent Developments in the Market:

In April 2022, ABB unveiled its enhanced lineup of digital substation products and inaugurated an extended digital systems factory in Vadodara, Gujarat. This facility addresses the increasing demand for a diverse array of digital substation products and solutions in India and also across over 50 countries. The manufacturing spectrum encompasses items such as relays, while the solutions span from centralized protection and control systems to distribution automation, bus transfer systems, and arc protection for electrical distribution networks.
In April 2023, Eaton secured a contract for the design and construction of critical electrical infrastructure for the University of Michigan's recently developed hospital in Ann Arbor, Michigan. Eaton offers a comprehensive suite of intelligent electrical equipment and turnkey engineering services to establish a robust foundation, ensuring the delivery of secure, resilient, and sustainable power for the University of Michigan Health facility.
In January 2022, ABB in Finland successfully supplied and installed a comprehensive primary power distribution solution, featuring switchgear, protection relays, and cutting-edge robotic technologies in collaboration with ABB's esteemed robotics partners. Additionally, ABB undertook the complete system's services to ensure seamless integration and optimal performance.

Global Electric Power Substation Automation Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Offering, Component, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Transmission Substation
Distribution Substation

By Offering:

Software
Hardware
Services

By Component:

Intelligent Electronic Devices (IEDs)
Programmable logic controller (PLC)
Supervisory Control and Data Acquisition (SCADA)
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Electric Power Substation Automation Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Electric Power Substation Automation Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Electric Power Substation Automation Market, by Offering, 2020-2030 (USD Billion)
- 1.2.4. Electric Power Substation Automation Market, by Component, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Electric Power Substation Automation Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Electric Power Substation Automation Market Dynamics

3.1. Electric Power Substation Automation Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing reliance on electricity for critical infrastructure
  - 3.1.1.2. Rising emphasis on grid modernization
- 3.1.2. Market Challenges
  - 3.1.2.1. High initial investment required
  - 3.1.2.2. Complexity associated with integration
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rapid advancements in communication technologies
  - 3.1.3.2. Increasing investments in power infrastructure by governments and private entities

Chapter 4. Global Electric Power Substation Automation Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Power Substation Automation Market, by Type

5.1. Market Snapshot
5.2. Global Electric Power Substation Automation Market by Type, Performance - Potential Analysis
5.3. Global Electric Power Substation Automation Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Electric Power Substation Automation Market, Sub Segment Analysis
- 5.4.1. Transmission Substation
- 5.4.2. Distribution Substation

Chapter 6. Global Electric Power Substation Automation Market, by Offering

6.1. Market Snapshot
6.2. Global Electric Power Substation Automation Market by Offering, Performance - Potential Analysis
6.3. Global Electric Power Substation Automation Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
6.4. Electric Power Substation Automation Market, Sub Segment Analysis
- 6.4.1. Software
- 6.4.2. Hardware
- 6.4.3. Services

Chapter 7. Global Electric Power Substation Automation Market, by Component

7.1. Market Snapshot
7.2. Global Electric Power Substation Automation Market by Component, Performance - Potential Analysis
7.3. Global Electric Power Substation Automation Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
7.4. Electric Power Substation Automation Market, Sub Segment Analysis
- 7.4.1. Intelligent Electronic Devices (IEDs)
- 7.4.2. Programmable logic controller (PLC)
- 7.4.3. Supervisory Control and Data Acquisition (SCADA)
- 7.4.4. Others

Chapter 8. Global Electric Power Substation Automation Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Electric Power Substation Automation Market, Regional Market Snapshot
8.4. North America Electric Power Substation Automation Market
- 8.4.1. U.S. Electric Power Substation Automation Market
  - 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Offering breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. Component breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Electric Power Substation Automation Market
8.5. Europe Electric Power Substation Automation Market Snapshot
- 8.5.1. U.K. Electric Power Substation Automation Market
- 8.5.2. Germany Electric Power Substation Automation Market
- 8.5.3. France Electric Power Substation Automation Market
- 8.5.4. Spain Electric Power Substation Automation Market
- 8.5.5. Italy Electric Power Substation Automation Market
- 8.5.6. Rest of Europe Electric Power Substation Automation Market
8.6. Asia-Pacific Electric Power Substation Automation Market Snapshot
- 8.6.1. China Electric Power Substation Automation Market
- 8.6.2. India Electric Power Substation Automation Market
- 8.6.3. Japan Electric Power Substation Automation Market
- 8.6.4. Australia Electric Power Substation Automation Market
- 8.6.5. South Korea Electric Power Substation Automation Market
- 8.6.6. Rest of Asia Pacific Electric Power Substation Automation Market
8.7. Latin America Electric Power Substation Automation Market Snapshot
- 8.7.1. Brazil Electric Power Substation Automation Market
- 8.7.2. Mexico Electric Power Substation Automation Market
8.8. Middle East & Africa Electric Power Substation Automation Market
- 8.8.1. Saudi Arabia Electric Power Substation Automation Market
- 8.8.2. South Africa Electric Power Substation Automation Market
- 8.8.3. Rest of Middle East & Africa Electric Power Substation Automation Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Honeywell International Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. NovaTech, LLC
- 9.3.3. Itron, Inc.
- 9.3.4. Hitachi, Ltd.
- 9.3.5. Rockwell Automation Inc.
- 9.3.6. Cisco Systems, Inc.
- 9.3.7. Eaton Corporation
- 9.3.8. Siemens AG
- 9.3.9. ABB Ltd.
- 9.3.10. Schneider Electric SE

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Electric Power Substation Automation Market, report scope
TABLE 2. Global Electric Power Substation Automation Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Electric Power Substation Automation Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Electric Power Substation Automation Market estimates & forecasts by Offering 2020-2030 (USD Billion)
TABLE 5. Global Electric Power Substation Automation Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 6. Global Electric Power Substation Automation Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Electric Power Substation Automation Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Electric Power Substation Automation Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Electric Power Substation Automation Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Electric Power Substation Automation Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Electric Power Substation Automation Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Electric Power Substation Automation Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Electric Power Substation Automation Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Electric Power Substation Automation Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Electric Power Substation Automation Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Electric Power Substation Automation Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Electric Power Substation Automation Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Electric Power Substation Automation Market
TABLE 71. List of primary sources, used in the study of global Electric Power Substation Automation Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Electric Power Substation Automation Market, research methodology
FIG 2. Global Electric Power Substation Automation Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Electric Power Substation Automation Market, key trends 2022
FIG 5. Global Electric Power Substation Automation Market, growth prospects 2023-2030
FIG 6. Global Electric Power Substation Automation Market, porters 5 force model
FIG 7. Global Electric Power Substation Automation Market, pest analysis
FIG 8. Global Electric Power Substation Automation Market, value chain analysis
FIG 9. Global Electric Power Substation Automation Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Electric Power Substation Automation Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Electric Power Substation Automation Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Electric Power Substation Automation Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Electric Power Substation Automation Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Electric Power Substation Automation Market, regional snapshot 2020 & 2030
FIG 15. North America Electric Power Substation Automation Market 2020 & 2030 (USD Billion)
FIG 16. Europe Electric Power Substation Automation Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Electric Power Substation Automation Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Electric Power Substation Automation Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Electric Power Substation Automation Market 2020 & 2030 (USD Billion)