Global Substation Automation Market, By Offering (Hardware, Software, Services), Type (Transmission Substations, Distribution Substations), Installation Type (New Installations, Retrofit Installations), End-user Industry (Utilities, Steel, Oil and Gas, Mining, Transportation), Component (Improvised Explosive Device, Communication Networks, Supervisory Control And Data Acquisition), Communication (Ethernet, Power Line Communication, Copper Wire Communication, Optical Fiber Communication) – Industry Trends and Forecast to 2029
Market Analysis and Size
The growth of the substation automation request is fuelled by surging demand to build conventional substations, rising use of digital technology to ameliorate grid effectiveness in smart metropolises, adding demand for electric and cold-blooded vehicles, and adding focus on upgrading IEC 61850 standard to resolve interoperability issue among intelligent electronic bias stationed in substations.
Data Bridge Market Research analyses that the substation automation market value, which was USD 41,666.72 million in 2021, is expected to reach the value of USD 67,419.49 million by 2029, at a CAGR of 6.20% during the forecast period 2022-2029.
Market Definition
Substation automation is an integral part of electrical system for generation, transmission and distribution of electricity. The combination of bias used to change the characteristics of electric force similar as voltage, and frequency among others is called substation. Substations are used to admit electricity at high voltage from the transmission and drop the voltage to the applicable position so that it can be used for original distribution.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Hardware, Software, Services),Type (Transmission Substations ,Distribution Substations), Installation Type (New Installations, Retrofit Installations), End-user Industry (Utilities, Steel, Oil and Gas, Mining, Transportation), Component (Improvised Explosive Device, Communication Networks, Supervisory Control And Data Acquisition Systems),Communication (Ethernet, Power Line Communication, Copper Wire Communication, Optical Fiber Communication)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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ARTECHE. (Spain),cgglobal. (Mumbai),Cisco Systems, Inc. (US),CrossCanyonEngineering.com (US),Eaton. (Ireland),Encore Networks. (US),General Electric (US),Hitachi Energy Ltd. (Switzerland),Honeywell International Inc. (US),Itron Inc. (US),M B Control & Systems Pvt Ltd. (West Bengal),NovaTech, LLC. (US),SAE IT-systems GmbH & Co. KG (Germany),Schweitzer Engineering Laboratories, Inc. (US),SELTA (US),VENSON ELECTRIC PVT. LTD. (Bangalore),Trilliant Holdings Inc. (US),TESLATECH INDIA PVT. LTD. (Kerala),SISCO, Inc. (UA)
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Market Opportunities
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Global Substation Automation Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Increasing investments in smart cities and smart grid infrastructure development projects
Substation automation helps reduce functional and conservation costs and increase factory productivity using enhanced technologies. It also ensures high performance, trust ability, and safety of electrical power network performing interlocking and smart cargo slipping functions. Smart grids can reduce energy losses during transmission and distribution, ameliorate trust ability and productivity, manage energy demand dashingly and bring-effectively. Considering all these benefits, heavy investments are being made for the development of smart grids across the world. For case, in May 2018, Natural Resource Canada blazoned an investment of USD for a coming- generation smart grid design. The grid design focuses on promoting the relinquishment of renewable sources of energy and the perpetration of technology to integrate new sources of clean energy without compromising the stability and trust ability of being grids. The government of Germany is making multiple enterprise to fully digitalize various operations in the railroads sector; for illustration, the automatic operation of trains on the mainline network using automated substations. According to the International Railway Journal, the government of Germany has invested USD 80 million in developing digital operations to increase the network capacity.
- Inclining new installations to augment market demand
The fast increase in the number of systems including renewable energy sources similar as solar and wind can be credited to the request's strong development eventuality. For illustration, Sun Tech Power Effects (China), a solar module manufacturer, intends to increase its investment in solar energy systems to fulfill China's rising energy demand as a result of rapid-fire urbanization. Several Chinese power enterprises, including State Grid Corporation of China, China Three Ravines Corporation, and State Power Investment Corporation, are working on 25 wind turbine contracts totaling about USD 586 billion to induce electricity.
Opportunities:
- Huge prospects for substation automation market due to increasing investments in renewable energy projects to meet growing energy demand
Solar and wind are presently the mainstream options in the power sector, with utmost countries generating further than 20 of their electricity using solar and wind energy sources. According to the International Energy Agency (IEA), the share of renewable sources in world electricity generation reached 25 in 2019. By 2050, renewable power will be suitable to give the bulk of global power demand, which would be roughly 86. Companies across the world are fastening on investing into sustainable energy structure than that of in fossil energies. According to the IEA’s World Energy Investment 2020report, total investment in renewable energy sources amounted to USD 259 billion and USD 226 billion in 2019 and 2020, independently. The decline in 2020 was important because of the profitable extremity due to the outbreak of the COVID-19 epidemic. Countries worldwide are trying to come up with new renewable systems for electricity generation. They're also investing in solar and wind systems to meet the growing demand for electricity and minimize the environmental impacts, along with investments in generating power using non-renewable sources at the same time.
Restrictions/ challenges:
- High initial installation cost of IEDs in substations
The original phase of automating the substation is capital-ferocious, which may restrain the growth of the global substation automation request. The adding use of advanced technologies analogous as microprocessor and service- acquainted architecture (SOA) and the rising demand to bed several IEDs in substations have increased the purchase costs of these substations. Also, an effective deployment of smart substations requires strong collaboration across customary organizational boundaries, significant process change, and rigorous governance. High investments for fruitful deployment of smart substations could add to the governments’ profitable burden. High functional and conservation costs after the deployment are also a big concern for avail providers.
This substation automation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the substation automation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Substation Automation Market
The substation automation request includes major League 1 and 2 suppliers like Hitachi ABB Power Grids, Siemens Energy, General Electric, Cisco, Schneider Electric, Eaton Corporation, Honeywell, Schweitzer Engineering Laboratories, NovaTech Automation, and CG Power and Industrial Results. These suppliers have their manufacturing installations spread across various countries across Asia Pacific, Europe, North America, and RoW. Substation automation products and results supplied by these companies are used by end- stoner diligence similar as serviceability, sword, canvas & gas, mining and transportation. Covid-19 not only impacted the operations of the substation automation request players, but also affected the businesses of companies from the below- mentioned diligence. Governments worldwide have cut down their spending on various areas to concentrate more on perfecting healthcare structure; thus, the demand for substation automation products and results from public grid systems is anticipated to shrink. Also, as marketable spaces in utmost corridor of the world would run at a significantly low capacity in 2020 and 2021; electricity consumption is anticipated to decline vastly, and electric serviceability might observe a detention in upgrading their grid structure. All these factors are anticipated to negatively impact the substation automation request.
Recent Developments
- In January 2021, SEL launched the new SEL-3350 Automation Controller designed for operations that bear midlevel I/ O and calculation. SEL-3350 can repel harsh surroundings in mileage substations, artificial control systems, and automation systems.
- In December 2020, Hitachi ABB Power Grids launched the new Remote Terminal Unit (RTU) 530 that extends the life of being power distribution networks and supports the migration to ultramodern technologies with enhanced security features, including secure communication, encryption, and security logging.
- In November 2020, Siemens Energy was contracted by Kuwait’s Ministry of Electricity and Water (MEW) to give conservation of 116 high-voltage substations. The advanced conservation services handed to these substations will help maximize performance, lower operating costs, and deliver better and further dependable network operations for the Ministry of Electricity in Kuwait.
Global Substation Automation Market Scope
The substation automation market is segmented on the basis of offering, type, installation type, end –users industry, component and communication. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Hardware
- Software
- Services
Type
- Transmission Substations
- Distribution Substations
Installation Type
- New Installations
- Retrofit Installations
End-user Industry
- Utilities
- Steel
- Oil & Gas
- Mining
- Transportation
Component
- IEDs
- Communication Networks
- SCADA Systems
Communication
- Ethernet
- Power Line Communication
- Copper Wire Communication
- Optical Fiber Communication
Substation Automation Market Regional Analysis/Insights
The substation automation market is analysed and market size insights and trends are provided by country, offering, type, installation type, end –users industry, component and communication as referenced above.
The countries covered in the substation automation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Based on region, North America dominated the station automation market in 2020. The commanding position of North America is contributed to many funding programs introduced by the US and Canadian governments for the modernization of power grids. North America governments are providing funds to deploy trendy technologies within the energy & power sector, which might facilitate the region transit to smarter, stronger, and economical electrical grid systems. Aging grid infrastructure, plus tight government policies relating to the adoption of property power technologies, contributes to the expansion of the station automation market in North America.
Several grid modernization comes are undertaken within the region within the past few years. for example, in Sept 2019, Schneider electrical was awarded a contract by BASF (Germany), the biggest chemical company within the world, to implement EcoStruxure plus adviser in its new electrical station in Beaumont, Texas. EcoStruxure plus adviser evaluates live information from the user's essential connected assets and applies advanced analytics to spot potential threats.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Substation Automation Market Share Analysis
The substation automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to substation automation market.
Some of the major players operating in the substation automation market are:
- ARTECHE. (Spain)
- cgglobal. (Mumbai)
- Cisco Systems, Inc. (US)
- CrossCanyonEngineering.com (US)
- Eaton. (Ireland)
- Encore Networks. (US)
- General Electric (US)
- Hitachi Energy Ltd. (Switzerland)
- Honeywell International Inc. (US)
- Itron Inc. (US)
- M B Control & Systems Pvt Ltd. (West Bengal)
- NovaTech, LLC. (US)
- SAE IT-systems GmbH & Co. KG (Germany)
- Schweitzer Engineering Laboratories, Inc. (US)
- SELTA (US)
- VENSON ELECTRIC PVT. LTD. ( Bangalore)
- Trilliant Holdings Inc. (US)
- TESLATECH INDIA PVT. LTD. (Kerala)
- SISCO, Inc. (UA)
- General Electric
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