Market Research Report
Power System State Estimators
|Power System State Estimators|
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 396 Pages
Delivery time: 1-2 business days
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Global Power System State Estimators Market to Reach US$858.2 Million by the Year 2026
Power system state estimators help monitor, supervise and control the distribution and transmission networks. They make use of certain redundant measurements obtained from the power systems to identify the true state of the system. Although they are currently not deployed on a large-scale, they hold potential to deliver real-time protection and control of power systems in the future. Growth in the global market is led by factors including the emergence and increasing adoption of smart grids, the fast expanding and increasingly complex distribution and transmission networks and regulations supporting the use of energy-efficient systems. Power system state estimation appears poised to garner more attention with continuous shift from passive towards active distribution networks. The transition points towards the requirement of effective solutions to monitor and control electrical distribution systems in real-time and push operating performance of these systems.
Amid the COVID-19 crisis, the global market for Power System State Estimators estimated at US$559.4 Million in the year 2020, is projected to reach a revised size of US$858.2 Million by 2026, growing at a CAGR of 7.6% over the analysis period. Power Control Centers, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$580.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Utility State Estimator segment is readjusted to a revised 8.8% CAGR for the next 7-year period. This segment currently accounts for a 35.2% share of the global Power System State Estimators market.
The U.S. Market is Estimated at $128.8 Million in 2021, While China is Forecast to Reach $156.2 Million by 2026
The Power System State Estimators market in the U.S. is estimated at US$128.8 Million in the year 2021. The country currently accounts for a 22.13% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$156.2 Million in the year 2026 trailing a CAGR of 9.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$173.2 Million by the end of the analysis period.
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