TMCnet News

Substation Automation Market Value to expand 2x by 2032; Commercial & Civic Power Utilities to remain Core Application Area: Future Market Insights, Inc.
[September 08, 2022]

Substation Automation Market Value to expand 2x by 2032; Commercial & Civic Power Utilities to remain Core Application Area: Future Market Insights, Inc.


Commercial and civic power utilities is expected to be the primary end user of the substation automation market at present, likely to flourish at a CAGR of 6.5% until 2032. The substation automation market in Europe is expected to accumulate a market share value of 30% in 2022. North America substation automation market is expected to accumulate the highest market share of 36.0% in 2022

NEWARK, Del., Sept. 8, 2022 /PRNewswire/ -- The global substation automation market is expected to be valued at US$ 29.12 Billion in 2022, as per a recently published Future Market Insights report. With the increasing demand for electric and hybrid vehicles, coupled with the rising use of digital technology to improve grid efficiency in smart cities, overall demand for substation automation is projected to grow at a CAGR of 6.7% between 2022 and 2032, totaling around US$ 55.69 Billion by 2032

Future Market Insights Logo

The increasing demand for efficient transmission of electricity, reduced operations and management costs for utilities, and ultimately lower power costs for consumers drive the growth of smart grids in the market. Also, the increasing integration of large-scale renewable energy systems and improved security among others are fueling the growth of smart grids in substation automation.

Smart grid communication technology provides predictive data and recommendations to the utilities, their suppliers, and their customers on how best to manage power. Moreover, smart grids are deploying by applying modern technologies in substations and power networks. 

Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5190 

To reach the smart grid, one needs complete information from substations in the transmission network to analyze and manage it. The trends towards upgrading and retrofitting the old conventional substations besides new modern substations are boosting the market growth.

Attributed to the need for upgradation and replacing an aging energy infrastructure, the smart grid is one of the best solutions used in substation automation as it allows for automatic rerouting when equipment fails or outages occur and minimize outages and minimize the effects. These Grid technologies are expected to drive the market growth for substation automation further.

Key Takeaways from the Market Study

  • Global substation automation market value to nearly double from 2022-2032
  • By component, substation automation hardware to account for 3/5th of global revenues in 2022
  • SCADA-driven substation automation to register highest growth, at a CAGR of 6.3%
  • Substation automation for commercial and civic power utilities to experience a CAGR of 6.5%
  • North America to present lucrative opportunities, accumulating 36% revenue in 2022
  • Asia Pacific to account for 32.5% of the global substation automation market revenue in 2022
  • Europe to account for 30% of global substation automation deployment in 2022

Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-5190 

"Factors such as increasing developments in SCADA and communication technologies, coupled with rising demand for renewable energy projects are expected to escalate the growth of the Substation Automation Market over the analysis period," remarks an FMI analyst.

Competitive Landscape

Players in the global Substation Automation Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

  • In Februay 2022, Schneider Electric and Enedis announced the launch of revolutionary solutions for new-generation substations. Both companies are expected to launch a project around a next generation of MV/LV substation devices as an alternative to the use of SF6 gas. This gas is used in MV electrical devices for its high insulation and dielectric properties.
  • In February, 2022, GE and Bond announced to build digital substation for offshore wind farm, the GE Group is expected to coordinate the implementation of the digital substation including advanced digital substation monitoring systems, controls, and software systems. GE would provide the connection and power balance needed between the offshore wind farm and the point of interconnection to the NY power grid.



Key Segments Covered In The Substation Automation Industry Analysis

Substation Automation Market by Component:


  • Hardware
    • IEDs
    • Bay Controller
    • Feeder and Motor
    • Protection Relay
    • Tele controller / IECs
    • Circuit Breaker Control & Management
    • Line Differential
    • Others
  • Software
    • Data Visualization and Monitoring
    • Data Analysis

Substation Automation Market by Site:

  • Process Level/ Electric Control unit
  • Bay Level
  • Substation Level

Substation Automation Market by Rated Voltage:

  • Low Voltage
  • Medium Voltage
  • High Voltage

Substation Automation Market by Control System:

  • SCADA based
  • HMI based
  • RI/O (Remote Input-Output) based

Substation Automation Market by Application:

  • Transmission Substation
  • Distribution Substation

Substation Automation Market by End User:

  • Commercial and Civic Power Utilities
  • Oil & Gas terminals
  • Mining & Metallurgy
  • Manufacturing Unit
  • Railways

Substation Automation Market by Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-5190

Know More About What the Substation Automation Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Substation Automation Market, providing historical data for 2017-2021 and forecast statistics from 2022-2032. To understand opportunities in the Substation Automation Market, the market is segmented on the basis of component, site, rated voltage, control system, application, and end-use industry across six major regions.

About Industrial Automation Division at Future Market Insights

The industrial automation team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Table of Content

1. Executive Summary

1.1. Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Market Trends

4. Key Success Factors

5. Global Substation Automation Market - Pricing Analysis

5.1. Regional Pricing Analysis By Component

5.2. Global Weighted Average Pricing Analysis Benchmark

6. Global Substation Automation Market Demand (in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032

6.1. Historical Market Value (US$ Mn) Analysis, 2017-2021

6.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032

6.2.1. Y-o-Y Growth Trend Analysis

6.2.2. Absolute $ Opportunity Analysis

Click Here for Substation Automation Market 250 pages TOC Report

Explore wide-ranging Coverage of FMI's Industrial Automation Market Insights Landscape

Oil and Gas Terminal Automation Market – The global oil and gas terminal automation market is forecast to register a CAGR of 7.1% in terms of value over the forecast period (2016-2026)

Substation Testing Equipment Market  - Substation Testing Equipment Market:Global Industry Analysis 2015 - 2019 and Opportunity Assessment 2020 - 2030

High Pressure Processing Equipment Market – The global high pressure processing equipment market size is anticipated to surpass the value of USD 430 Mn, while recording a CAGR of 12.3% in terms of volume from 2016 and 2026

Positive Displacement Pump Market -The global positive displacement pumps market is expected to garner a market value of US$ 13.78 Billion in 2022 and is expected to accumulate a market value of US$ 21 Billion by registering a CAGR of 4.3% in the forecast period 2022-2032

Gaskets and Seals Market – The global gaskets and seals market is anticipated to hold a market value of USD 102 Bn by 2026, while recording a CAGR of 5.4% during the assessment period.

Vibration Control Systems Market – Vibration control system demand is set to revive in 2021 as automation gains traction. FMI's latest edition of the study finds how manufacturers are planning ahead.

Dredging Market – The global dredging market is expected to reach a valuation of US$ 15.6 Bn in 2022. As per the report, demand in the dredging market is slated to increase at a CAGR of 3.7%, reaching a valuation of US$ 22.3 Bn by 2032.

ABOUT FUTURE MARKET INSIGHTS, INC.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact: 

Future Market Insights Inc.?? 
Christiana Corporate,
200 Continental Drive, 
Suite 401, Newark, 
Delaware - 19713, USA?? 
T: +1-845-579-5705?? 
Report: https://www.futuremarketinsights.com/reports/cup-carriers-market
For Sales Enquiries: [email protected]??? 
Browse all Reports: https://www.futuremarketinsights.com/reports

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg


[ Back To TMCnet.com's Homepage ]