Global Electric Power Substation Automation Market, 2016–2024
Zion Market Research, the market research group announced the analysis report titled ‘Electric Power Substation Automation Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2015–2021′
Electric power substation automation is a revolution for the management of networks. The substation is a base for some of the most important functions of the utility and is a part of electrical generation, transmission, and distribution system. Electric power substation automation is a combination of numerous control and data acquisition functions on an automated platform with a minimum number of units to augment the reliability and thereby reducing the cost of operation of the substation automation system.
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Electric power substation automation is one of the major developments in a substation technology and also a leading aspect of the smart grid revolution. Electric power substation deals with the generation, transmission, and distribution of electricity. Substation automation increases the level of convenience of operations, as it enables an electric utility to remotely monitor, control and coordinate the distribution component installed in the substation.
The electric power substation automation market is mainly driven by the rising demand of smart grid solution. Demand for electric power substation automation increases due to the advancement in smart grid technology. However, some factors such as shortage of skilled workforce and high investment cost are expected to hamper the growth of electric power substation automation industry.
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The study segments the global electric power substation automation market on the basis of the module, automation stage, type, applications and regional segment. The different module includes in electric power substation automation markets such as hardware, communication network technology, and SCADA. The automation stage segment of electric power substation automation market is categorized into retrofit and new construction automation stage. Transmission, distribution and collector substation are the types of the electric power substation. Based on application, electric power substation automation market is segmented into utilities and industry.
Major regional segments analyzed in this study include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, further bifurcation of the region on the country level, which includes U.S., Germany, UK, France, China, Japan, and India. Asia Pacific dominated electric power substation automation market owing to rising number of smart grid projects in this region.
Some of the key players in electric power substation automation include Schneider Electric, ABB Ltd., Eaton Corporation, Siemens AG, Alstom S.A, CISCO Systems (U.S), Amperion (U.S), and Ingeteam.
Electric Power Substation Automation Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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