Global Substation Automation Market – Opportunities & Forecast, 2019-2026

Press Release : April 01, 2020
Global Substation Automation Market – Opportunities & Forecast, 2019-2026

Substation automation refers to using data from intelligent electronic devices (IED), control and automation abilities within the substation, and control commands from remote users to control power-system devices. Substation automation is using in over-current protection and Supervisory Control and Data Acquisition (SCADA). The principal standard for the substation automation is with the invoking of IEC 61850. The substation automation uses across industries such as utility, steel, oil & gas, transportation, and mining.

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The growing demand for low-cost substation automation solutions in solar industry, rising integration of functions with digital technology to enhance grid efficiency in smart cities, growing need for retrofitting conventional substations, development in the substation automation standard IEC 61850 to allow interoperability among intelligent electronic devices, and increasing adoption of fiber optics cables are the major factors that driving the growth of global substation automation market. The power generation companies are focussing on low-cost substation solution; therefore, they are replacing their conventional substation by digital substations that further boost the growth of the market. However, high wireless sensor network installation costs and embedded leds in substation rise equipment purchasing costs are restraining the growth of the market.

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Based on the module, the communication segment is expected to grow at a higher rate during the forecast period owing to the rising demand for reducing solar projects cost, which are widely used in distribution substations. Wireless networks eliminate trenching costs associated with wired communications and shorten deployment timelines and make them more predictable are further fuelling the growth of the market.

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Various notable players in the Substation Automation market include ABB Group, Siemens AG, Rockwell Automation, Inc., Cisco Systems, Inc., CG Power, and Industrial Solutions Limited, Schneider Electric SE, General Electric, Schweitzer Engineering Laboratories, Inc., Honeywell International Inc., Eaton Corporation plc, Novatech LLC, Larsen & Toubro Limited and among others.

Key questions answered in this research report:

 

  • At what pace is the global Substation Automation market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Substation Automation market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Substation Automation market?
  • What are the various industries of the global Substation Automation market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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