Substation Automation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Data from Intelligent Electronic Devices is used in substation automation. It refers to the ability to regulate and automate substation capabilities as well as power system components using commands from distant users. The rise in global power demand, as well as the rise of smart grids and the need to upgrade current networks, are driving the growth of the substation automation market.

MARKET SCOPE

The "Global Substation automation Market Analysis to 2031" is a specialized and in-depth study of the substation automation Market with a special focus on the global market trend analysis. The report aims to provide an overview of substation automation market with detailed market segmentation by module, offering, type, installation type and end-user. The global substation automation market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading substation automation market player and offers key trends and opportunities in the substation automation market.

MARKET SEGMENTATION

  Based on module the market is segmented as, intelligent electronic devices, communication networks, SCADA systems.

  On the basis of offering the market is segmented as, hardware, software, services.

  Based on type the market is segmented as, transmission substation and distribution substation.

  On the basis of installation type the market is segmented as, retrofit installation, new installation.

  Based on end-user the market is segmented into, utility, steel, mining, oil and gas, transportation, others.

MARKET DYNAMICS

Drivers:

  The rise in global power demand, as well as the rise of smart grids and the need to upgrade current networks, are driving the growth of the substation automation market.

  Utilization of renewable and non-conventional energy resources, as well as advancements in communication technologies.

  Advancement in technology as well as advancements in smart substation automation systems.

Restraints:

  The substation automation market's growth is restrained by issue of cyber attacks and higher cost of installation.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global substation automation market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The substation automation market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting substation automation Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the substation automation market in these regions.

IMPACT OF COVID-19 ON SUBSTATION AUTOMATION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The reports cover key developments in the substation automation market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from substation automation market are anticipated to lucrative growth opportunities in the future with the rising demand for substation automation market. Below mentioned is the list of few companies engaged in the substation automation market.

The report also includes the profiles of key substation automation market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Hitachi ABB Power Grids
  
•   Siemens Energy AG
  
•   General Electric
  
•   Cisco Systems
  
•   Schneider Electric
  
•   Eaton
  
•   Honeywell
  
•   SCHWEITZER ENGINEERING LABORATORIES
  
•   NovaTech LLC
  
•   CG Power and Industrial Solutions
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Substation Automation Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Module Intelligent Electronic Devices Communication Networks SCADA Systems By Offering Hardware Software Services By Type Transmission substation Distribution substation By Installation Type Retrofit Installation New Installation
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Hitachi ABB Power Grids Siemens Energy AG General Electric Cisco Systems Schneider Electric Eaton Honeywell SCHWEITZER ENGINEERING LABORATORIES NovaTech LLC