Global Market for Substation Automation and Integration Products is Anticipated to grow at a Significant Pace i.e., USD 58.2 Billion during the Forecast Period 2021-2027

Published Date: Nov, 2021

The global substation automation and integration market is expected to witness a CAGR of 6.6% during the forecast period. The reliability, need for the low-cost, flexibility, and grid efficiency linked with the substation automation and integration may propel the growth of the market during the forecast period. However, high capital investment for installation and regulation issues may hamper the growth of the substation automation and integration market. Nevertheless, the increasing use of digital technology to enhance grid efficiency in smart cities, surging demand for electric and hybrid vehicles, rising focus on improving IEC 61850 standards to handle interoperability issues among electronic devices deployed in substations will boost the growth of the substation automation and integration market.

Hitachi ABB Power Grids launched the new Remote Terminal Unit (RTU) 530 that extends the life of existing power distribution networks and supports the migration to modern technologies with enhanced security features, including secure communication, encryption, and security logging.

The COVID-19 pandemic has affected to operations of substation automation industry players and impacted businesses of various other industries like utilities, steel, oil & gas, and transportation. Globally, the government has reduced their expenditure on other areas and the focus was to improve healthcare infrastructure, thus the demand for substation automation products and solutions for national grid projects are likely to shrink.   

Browse 84 market data Tables and 50 Figures spread through 275 Pages and in-depth TOC on " Substation Automation and Integration Market by Offering (Hardware (Reclose Controllers, Programmable Logical Controllers, Capacitor Banks, Smart Meters, Load Tap Changers, Digital Relays, Fiber-Optic Cables, and Others), Software (Production Management Software, Asset Management Software, and Performance Management Software), and Services (Installation and Commissioning, Up-Gradation and Retrofitting, and Testing, Repair, and Maintenance)), by Type (Transmission Substation and Distribution Substation), by Installation Type (New Installation and Retrofit Installation), by Component (IEDs (Intelligent Electronic Devices), Communication Networks, and SCADA Systems), by Communication (Ethernet, Power Line Communication, Copper Wire, and Optic Fiber), by End-User Industry (Utilities, Steel, Oil & Gas, Mining, Transportation, and Others), and Region - Global Forecast to 2027"

Substation automation market for the mining industry is anticipated to witness the fastest-growing segment, by end-user industry.

Based on the end-user industry, the mining industry is anticipated to be the fastest-growing segment as it focuses on modernizing substation automation solutions to effectively manage digital data. Mining companies are using substation automation to have critical information about energy consumption and establish energy-efficient policies, thus increasing productivity and reducing energy wastage.

Global Substation Automation and Integration Market Segmentation Analysis

Segment

Categorization

Leading Category

Offering

Hardware (Reclose Controllers, Programmable Logical Controllers, Capacitor Banks, Smart Meters, Load Tap Changers, Digital Relays, Fiber-Optic Cables, and Others), Software (Production Management Software, Asset Management Software, and Performance Management Software), and Services (Installation and Commissioning, Up-Gradation and Retrofitting, and Testing, Repair, and Maintenance)

Hardware (Largest)

Type

Transmission Substation and Distribution Substation

Transmission Substation (Largest)

Installation Type

New Installation and Retrofit Installation

New Installation

(High CAGR)

Component

IEDs (Intelligent Electronic Devices), Communication Networks, and SCADA Systems

IEDs (Intelligent Electronic Devices) (Significant Growth)

Communication

Ethernet, Power Line Communication, Copper Wire, and Optic Fiber

Copper Wire

(High CAGR)

End-User Industry

Utilities, Steel, Oil & Gas, Mining, Transportation, and Others

Utilities (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“North America to hold the largest regional market share during 2021-2027.”

North America is anticipated to witness the largest market share in the substation automation and integration market during 2021-2027 as it is the lucrative market for substation-related projects in industries like utilities, renewable energy, and oil & gas. Utilities in North America focuses on building next-generation distribution and transmission infrastructure and snowballing the adoption of renewable sources for power generation, especially through wind and solar projects, thus propelling the revenue growth in the substation automation market.

Some of the key players operating in the substation automation and integration market: Schweitzer Engineering Laboratories, Inc., Siemens Energy, GE, Schneider Electric, Hitachi Energy Ltd., Encore Networks, Eaton, Cisco, NovaTech, LLC, and Honeywell International Inc.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Offering, Type, Installation Type, Component, Communication, End-User Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Schweitzer Engineering Laboratories, Inc., Siemens Energy, GE, Schneider Electric, Hitachi Energy Ltd., Encore Networks, Eaton, Cisco, NovaTech, LLC, and Honeywell International Inc.

Global Substation Automation and Integration Market Coverage

Offering Insight and Forecast 2015-2027

  • Hardware
    • Reclose Controllers
    • Programmable Logical Controllers
    • Capacitor Banks
    • Smart Meters
    • Load Tap Changers
    • Digital Relays
    • Fiber-Optic Cables
    • Others
  • Software
    • Production Management Software
    • Asset Management Software
    • Performance Management Software
  • Services
    • Installation and Commissioning
    • Up-Gradation and Retrofitting
    • Testing, Repair, and Maintenance

Type Insight and Forecast 2015-2027

  • Transmission Substation
  • Distribution Substation

Installation Type Insight and Forecast 2015-2027

  • New Installation
  • Retrofit Installation

Component Insight and Forecast 2015-2027

  • IEDs (Intelligent Electronic Devices)
  • Communication Networks
  • SCADA Systems

Communication Insight and Forecast 2015-2027

  • Ethernet
  • Power Line Communication
  • Copper Wire
  • Optic Fiber

End-User Industry Insight and Forecast 2015-2027

  • Utilities
  • Steel
  • Oil & Gas
  • Mining
  • Transportation
  • Others

Geographical Segmentation

Substation Automation and Integration Market by Region

North America

  • By Offering
  • By Type
  • By Installation type
  • By Component
  • By Communication
  • By End-User Industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Offering
  • By Type
  • By Installation type
  • By Component
  • By Communication
  • By End-User Industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Offering
  • By Type
  • By Installation type
  • By Component
  • By Communication
  • By End-User Industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offering
  • By Type
  • By Installation type
  • By Component
  • By Communication
  • By End-User Industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Substation Automation and Integration Products is Anticipated to grow at a Significant Pace i.e., USD 58.2 Billion during the Forecast Period 2021-2027