Market Research Report
Global Substation Automation Market - Technologies, Market share and Industry Forecast to 2024
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||649257|
|Published||Content info||240 Pages
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|Global Substation Automation Market - Technologies, Market share and Industry Forecast to 2024|
|Published: May 26, 2018||Content info: 240 Pages||
Global substation automation market is anticipated to grow with a CAGR of 15.51% during 2017-2024. Major drivers that enhance global substation automation market include increasing electricity demand, high demand for smart grids, increasing demand for renewable energy generation and increasing demand of smart meters. Moreover, utilization of renewable and non-conventional energy sources and recent technological developments in substation automation which will impact positively on the overall market of substation automation. Apart from this, cyber-attack and lack of technical expertise are impacting negatively to the substation automation market worldwide.
Global substation automation market is segmented on the basis of module, offering, type, installation type, and industry. On the basis of module, it is sub-divided into intelligent electronic devices, Communication networks and SCADA systems. On the basis of offering, it is sub-divided into hardware, software and services. On the basis of type, it is sub-divided into transmission substations and distribution substations. On the basis of installation type, it is sub-divided into retrofit installations and new installations. On the basis of industry, it is sub-divided into utility, steel, mining, oil & gas, and transportation.
On the basis of geography, global substation automation market is segmented into four major regions such as North America, APAC, Europe and RoW. Currently, North America is accounted to be the largest market share in global substation automation market due to the presence of major players in USA and increasing high investment for smart grids which are likely to drive the market demand over the forecasting period. Apart from this, Asia-Pacific is the most significant high growth market due to increasing electricity demand and increasing high investment for smart grids which are anticipated to surge the growth of substation automation in this region.
There are many of the key manufacturing companies that are engaged in global substation automation market. For instance, Schneider Electric (France), Eaton Corp. (U.S.), ABB Ltd. (Switzerland), General Electric (USA) and others. New collaborative developments and new product launches are some strategic initiatives taken by companies to sustain in the market.
18.104.22.168.5.2.1. SOLAR PROJECTS
22.214.171.124.5.2.2. WIND PROJECTS