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Substation Automation Market: Competitive Analysis, Future Plans with Massive Growth 2023

Dec 8, 2021 9:00 PM ET

Substation Automation Market: Competitive Analysis, Future Plans with Massive Growth 2023
Market Overview

The global substation automation market is growing rapidly. The increasing demand of distributed intelligence is propelling the market growth of application development. For instance, the companies are investing in substation automation which is widely used for the utility industry. The growing urbanization along with increasing demand of electricity is boosting the demand of substation automation market. These controllers are widely used in the utility industry. The real time automation controller which is boosting the demand of substation automation market. These automation controller are rugged, reliable to use and reduces training and flexible for application. It is integrated with human-machine interface which offer offer comprehensive data visualization.

The global substation automation market is segmented into component, module, communication channel, industry, and region. The component is sub-segmented into recloser controller, capacitor bank controller, smart meter, load tap controller and others. The module is sub-segmented into SCADA, intelligent electronic device, communication network and others. The communication channel segment is sub-segmented into Ethernet, copper wire communication, power line communication, optical fiber communication and others. The industry is sub-segmented into utility, transportation, mining, steel, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.

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Market Research Future (MRFR) recognizes the following companies as the key players in the global substation automation market: Schneider Electric (France), Siemens AG (Germany), ABB Group (Switzerland), General Electric (U.S.), Tropos Network (U.S.), EATON Corp. (U.S.), Encore Networks (U.S.), Grid Net (U.S.), Cooper Industries (U.S.), Larsen & Toubro Limited (India), Power System Engineering, Inc. (U.S.), Texas Instruments (U.S.), Axiomtek  Co. Ltd (Taiwan),Toshiba Corporation (Japan), Ametek (U.S.), SAE  IT-systems GmbH & Co. KG (Germany), among others.

According to the Market Research Future Analysis, the global substation automation market is expected to reach USD ~51 Billion by the end of the forecast period at a CAGR of ~9%.

Global Substation Automation Market

Market Research Analysis:

The global substation automation market consists of the North America, Europe, Asia Pacific, and Rest of the world. North America is dominating the global substation automation market. The substation automation market is witnessing the high growth due to increasing demand for advanced metering infrastructure among various industries including utility, transportation, mining, steel, and among others. Europe is projected to hold the second largest share of the global substation automation market during the forecast period due to increasing demand of reducing time of transmission substations. Asia Pacific is expected to witness the highest CAGR in the coming years.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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