Digital Substation Global Market Report 2022

“Digital Substation Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global digital substation market.

This report focuses on digital substation market which is experiencing strong growth. The report gives a guide to the digital substation market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

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Where is the largest and fastest growing market for the digital substation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Digital Substation market global report” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider digital substation market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.

• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.

• Market segmentations break down market into sub markets.

• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.

• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.

• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

• The digital substation market section of the report gives context. It compares the digital substation market with other segments of the digital substation market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, digital substation indicators comparison.

Scope

Markets Covered:

• 1) By Voltage Level: Low; Medium; High

• 2) By Type: Transmission; Distribution

• 3) By Module: Fiber Optics Communication Network; Supervisory Control And Data Acquisition; Hardware

• 4) By Industry Vertical: Power Generation; Metal & Mining; Oil & Gas; Transportation & Logistics; Defence & Aerospace; Process & Manufacturing; Others

• Companies Mentioned: ABB Group; NR Electric; Eaton Corporation Inc.; Schneider Electric; General Electric

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Executive Summary

Major players in the digital substation market are: ABB Group, NR Electric, Eaton Corporation Inc., Schneider Electric, General Electric, Larsen & Toubro, Siemens, Tekvel, Toshiba, Yamal LNG, DNV GL, Hitachi, Igrid T&D, Kalkitech, Locamation, and Panasonic Corporation.

The global digital substation market is expected to grow from $6.16 billion in 2021 to $6.85 billion in 2022 at a compound annual growth rate (CAGR) of 11.19%. The market is expected to grow to $10.47 billion in 2026 at a CAGR of 11.19%.

The digital substation market consists of sales of digital substation by entities (organizations, sole traders, and partnerships) that is used to communicate between the relays in the control house and the instrument breakers, transformers, and merging units in the station yard. The digital substation brings digital technology into the substation. The term digital substation refers to electrical substation in which operation is controlled by distributed intelligent electronic devices (IEDs) linked by the communication networks. It is possible by the use of computing technologies in the substation.

The main types of digital substations are transmission and distribution. The transmission digital substations market segment consists of sales of digital substations by entities (organizations, sole traders, and partnerships) that refers to a structure, device, or equipment that is commonly positioned and built for voltage control, circuit protection, or switching that is required for the construction or operation of a proposed transmission line is referred to as a transmission digital substation. By voltage levelm types of digital substations are low, medium and high. Modules used in digital substation include fiber optics communication network, supervisory control and data acquisition, and hardware. The major uses of digital substation can be seen in the power generation, metal and mining, oil and gas, transportation and logistics, defence and aerospace, process and manufacturing, and other indsutries.

Europe was the largest region in the digital substation market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for electricity is expected to propel the growth of the digital substation market. Digital substations are actively used in replacing traditional copper cable with advanced fiber optics transmitters to covert electrical signals to optical signals. Digital substations are also used in power grids and transformers to minimize losses during transmission of electricity. For instance, in November 2021, according to the International Energy Agency's semi-annual Power Market Report, the global electricity demand is expected to climb by 5% in 2021 and 4% in 2022. The amount of electricity generated by renewables is expected to rise as well, by 8% in 2021 and over 6% in 2022. Therefore, the increase in demand for electricity is driving the digital substation market.

Strategic collaboration between companies is a key trend gaining popularity in the digital substation market. Companies that provide digital solutions are undergoing partnerships and collaborations to cope up with the digital transformation that is occurring at a rapid pace. For instance, in December 2020, ABB, a Sweden-based technology and industrial company that provides digital substations, partnered with CORYS, a manufacturing business established in France. The collaboration will develop digital twin modeling and simulation technology in the energy and industrial industries. Furthermore, in September 2020, Siemens AG, a Germany-based engineering and manufacturing company that provides digital substations, partnered with Atos, a France-based information technology services and consulting firm, for a deal amount of $3.40 billion. Siemens' digital goals in the areas of services modernization and digitalization, data-driven digital, cloud transformation, and cybersecurity are likely to be accelerated as a result of the relationship.

In February 2021, Kalpataru Power Do Brasil Participacoes Ltd, a Brazilian provider of power transmission and infrastructure EPC space, acquired a 51% stake in Fasttel Engenharia Ltd for an $8.8 million. The acquisition allows Kalpataru Power to capitalize on the opportunity in Brazil and to grow its position in the Latin American market. Fasttel Engenharia is a Brazilian firm that specializes in the engineering, procurement, construction, and maintenance of electricity transmission lines, substations, and distribution systems.

The countries covered in the Digital Substation market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.