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Substation Automation Market by Module, Offering, Type, Installation Type, Industry & Geography - Global Forecast to 2022
NEW YORK, Feb. 27, 2017 /PRNewswire/ -- Substation automation and integration market to grow at a CAGR of 5.97% between 2016 and 2022"
The substation automation and integration market was valued at USD 32.53 billion in 2015 and is expected to grow at a CAGR of 5.97% between 2016 and 2022. The market growth can be attributed to the integration of functions with digital technology to improve grid efficiency in smart cities, among others.
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"New installations to hold a major share of the substation automation and integration market in the coming years"
New installations is expected to hold a major share of the substation automation and integration market in the coming years as the demand for new power stations and smart grid in different industries is growing rapidly. Also, the demand for automation, intelligent electronic devices (IEDs), advanced communication technologies, human machine interface (HMI), and supervisory control and data acquisition (SCADA) is rising significantly. New installation projects offer greater operational safety, require lower maintenance, and provide greater reliability.
"Substation automation and integration market for services to grow at a high rate between 2016 and 2022"
The market for service is expected to grow at a high rate in the near future due to rising demand for retrofitting conventional substations. The IEC 61850- 8-1 standard enables the standardized communication of current and voltage samples across an Ethernet-based serial link and results in a complete process bus between primary and secondary equipment. This helps in resolving the issues related to interoperability.
"Substation automation and integration market in APAC to row at a significant rate between 2016 and 2022"
APAC led the substation automation market in 2015, and the trend is likely to continue in the coming years. Several initiatives have been taken up by the Government of India to improve its power and energy sector, which supports the growth of substation automation in APAC. Plans to build renewables with an energy capacity of 175GW by 2022, several schemes organized to revive distribution in utilities, and village electrification programs, among others are some of the initiatives taken up by the Government of India.
Following is the breakdown of the primary participants' profiles:
- By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C-Level Executives – 70%, Directors – 20%, and Others – 10%
- By Region: North America – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
The key players operating in the market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric (France), and Crompton Greaves (India), among others.
Research Coverage:
In this report, the substation automation and integration market has been segmented on the basis of module, offering, type, installation type, industry, and geography. The report gives a detailed view of the market across four main regions—the Americas, Europe, APAC, and RoW (comprising the Middle East and Africa). The Porter's five forces analysis has been included in the report, along with the description of each of its forces and their impact on the said market.
Reasons to buy the report:
- This report includes the statistics pertaining to the substation automation and integration market in terms of module, offering, type, installation type, industry, and geography.
- The Porter's five forces analysis, value chain analysis, and key strategies adopted by the market players have been provided for the substation automation and integration market.
- Market dynamics such as drivers, restraints, challenges, and opportunities pertaining to the substation automation and integration market have been provided in detail in this report.
- The report includes illustrative segmentation, analysis, and forecast pertaining to the substation automation and integration market.
Read the full report: http://www.reportlinker.com/p04724245-summary/view-report.html
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/substation-automation-market-by-module-offering-type-installation-type-industry--geography---global-forecast-to-2022-300414447.html
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