Worldwide Substation Automation Market Size to Touch US $ 56.4 Billion by 2028; Substation Automation Market Share [2021-2028]
The global Substation Automation Market size is projected to reach USD 56.4 Billion by 2028, from 36.2 Billion in 2022, at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period. Exactitude Consultancy with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Substation Automation Market Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis. It also provides market information in terms of development and its capacities.
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Companies Profiled in Substation Automation Market Report:
hitachi abb power grids, siemens energy, General Electric, cisco, schneider electric, eaton corporation, novatech automation, cadillac automation and controls, and others.
Increasing Demand for Smart Grids in the Region
The substation automation market in Europe is expected to accumulate a market share value of 30% in 2022. The European renewable target for 2029 (32% of total energy consumed) means that more than 50% of electricity would be generated from RES, most of which would be connected to the MV and LV grids.
Furthermore, policies formulated by the EU have encouraged the development of decentralized electricity generation, electric vehicles, and energy storage to cater to flexible demand.
Moreover, the European countries are emerging as major revenue-generating countries for substation automation markets, owing to the increasing demand for smart grids and an increase in the adoption of renewable energy. These factors are anticipated to accelerate the European Substation Automation Market during the forecast period
Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Substation Automation Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Substation Automation Market Forecast:
- Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Market Segmentation
By Type
- Transmission Substation
- Distribution Substations
By Application
- Utilities
- Steel
- Oil & Gas Mining
- Transportation
Regional Outlook
Regions considered in the market are gauged on the basis of performance metrics which differ by economic growth, government support, and investment scenario. Ease of business index and other growth metrics which foster market growth are considered before estimating its value. Figures and statistics from reputed government organizations are included in the report for cementing its value.
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Pre-Post COVID-19 Impact on Global Substation Automation Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Substation Automation Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global portable generator market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Substation Automation Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
Key Points From TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers and Acquisitions
5. Global Substation Automation Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Overview
12.2 Products and Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued…!
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