Market Research Report
Substation Automation Market by Module (IEDS, Communication Network, SCADA System), Offering, Type (Transmission, Distribution), Installation Type (Retrofit & New Installation), Industry & Geography - Global Forecast to 2022
|Published by||MarketsandMarkets||Product code||327836|
|Published||Content info||190 Pages
Delivery time: 1-2 business days
|Substation Automation Market by Module (IEDS, Communication Network, SCADA System), Offering, Type (Transmission, Distribution), Installation Type (Retrofit & New Installation), Industry & Geography - Global Forecast to 2022|
|Published: February 20, 2017||Content info: 190 Pages||
The substation automation and integration market was valued at USD 32.53 billion in 2015 and is expected to grow at a CAGR of 5.97% between 2016 and 2022. The market growth can be attributed to the integration of functions with digital technology to improve grid efficiency in smart cities, among others.
New installations is expected to hold a major share of the substation automation and integration market in the coming years as the demand for new power stations and smart grid in different industries is growing rapidly. Also, the demand for automation, intelligent electronic devices (IEDs), advanced communication technologies, human machine interface (HMI), and supervisory control and data acquisition (SCADA) is rising significantly. New installation projects offer greater operational safety, require lower maintenance, and provide greater reliability.
The market for service is expected to grow at a high rate in the near future due to rising demand for retrofitting conventional substations. The IEC 61850- 8-1 standard enables the standardized communication of current and voltage samples across an Ethernet-based serial link and results in a complete process bus between primary and secondary equipment. This helps in resolving the issues related to interoperability.
APAC led the substation automation market in 2015, and the trend is likely to continue in the coming years. Several initiatives have been taken up by the Government of India to improve its power and energy sector, which supports the growth of substation automation in APAC. Plans to build renewables with an energy capacity of 175GW by 2022, several schemes organized to revive distribution in utilities, and village electrification programs, among others are some of the initiatives taken up by the Government of India.
Following is the breakdown of the primary participants' profiles:
The key players operating in the market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric (France), and Crompton Greaves (India), among others.
In this report, the substation automation and integration market has been segmented on the basis of module, offering, type, installation type, industry, and geography. The report gives a detailed view of the market across four main regions-the Americas, Europe, APAC, and RoW (comprising the Middle East and Africa). The Porter's five forces analysis has been included in the report, along with the description of each of its forces and their impact on the said market.
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.