Substation Automation Market Status, Key Vendors Analysis and Regional Outlook 2021-2024

Posted on 2021-07-30 by researchinsights in Technology // 0 Comments

San Jose, California , USA, July 30, 2021 — /EPR Network/ —

The Substation Automation Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global Substation Automation Market is expected to value at USD 185.80 billion by 2024. The substation automation industry is subject to witness a substantial growth due to the increasing adoption of automation and modernization for industrial processes, and growing focus towards high-end productivity, growing number of large-scale production lines, especially for the manufacturing of vehicles and electronic devices.

Substation automation offer numerous advantages such as cost efficiency, higher rate of operation, size limitation, and superior quality coupled with higher productivity. Globally, the substation automation market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the substation automation industry.

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Substation Automation Component Outlook (Revenue, USD Million, 2014 – 2024)

Recloser controller
Programmable logical controller
Capacitor bank controller
Digital transducer/smart meter
Load tap controller
Communication channel
Digital relays
Others

Substation Automation Module Outlook (Revenue, USD Million, 2014 – 2024)

SCADA
IEDs
Communication network

Substation Automation Communication Channel Outlook (Revenue, USD Million, 2014 – 2024)

Ethernet
Power line communication
Copper wire communication
Optical fiber communication

Key Players Analysis covered in these report

ABB
Cisco Systems
Crompton Greaves
Eaton Corporation
General Electric
Larsen & Toubro
Siemens
Schneider Electric
Venson Electric

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Regional Outlook

The substation automation industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the manufacturing sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the substation automation market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market strong economic growth in the region, rapid industrialization, rising in the domestic manufacturing activities, with and significant investment by leading industry players considering potential growth opportunities in the region.

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