Trusted Business Insights presents the Updated and Latest Study on Digital Substation Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Digital Substation Market
Industry / Sector Trends
Digital Substation Market size in 2018 valued over USD 7 billion and is anticipated to grow at a rate of over 7% by 2025.
U.S. Digital Substation Market Size, By Component, 2018 & 2025 (USD Million)
Growing refurbishment demand of existing electrical network along with soaring fund flow across the grid infrastructure will augment the market growth. The influx of flexible, secure and advanced technologies has incorporated a sustainable business outlook. The manufacturers & suppliers have continuously been streamlining their research & development investments to enhance and expand system portfolios. However, new fund allocation from major industry players to incorporate a flexible technological platform has acted as a considerable breakthrough.
Power transmission & distribution industry has observed growth on account of the increasing demand for efficient T&D control technologies. Lack of effective electrical infrastructure in the emerging countries in line with paradigm shift toward the expansion of prevailing networks in developed nations have infused a positive business scenario. Furthermore, positive consumer shift toward the installation of these units with an aim to secure the power supply coupled with increasing life expectancy of the electrical network have further added to the industry advantage.
Market Segmentation, Outlook & Regional Insights: Digital Substation Market
Digital Substation Market, By Component
Consumer inclination favoured by regulatory plans to establish a smart and optimized electrical infrastructure has strengthened the global digital substation market. Major industry players have been investing to develop technologies to augment the ongoing digitalization in the industrial peripheral. Communication technology has gained momentum across substation units owing to their effective feedback abilities; allowing optimum time for failure corrections and fault detection. Furthermore, utilities are aligning their investments and plans toward an uninterruptible supply of electricity along with energy being marked as a necessity across major regions have provided a sustainable business scenario.
Digital Substation Market, By Architecture
Digitalization in the recent years, has been a significant industrial phenomenon, driving the integration of smart & secure electric network. Data analysis in association with digitalization has proved to increase the technical, economic & regulatory proximities. Moreover, development of these communication hubs & data centres has also increased the energy consumption rate across the regions. Henceforth, ongoing rise in energy demand to endure the operations of the data units will positively influence the product demand.
Digital Substation Market, By Application
Transmission industry across the digital substation market is anticipated to exceed USD 8 billion by 2025. Increasing investments toward the development of the existing transmission lines along with the establishment of smart energy infrastructure have infused a favourable business growth. In 2016, the EEIs member companies invested USD 20.8 million in transmission infrastructure and are anticipated to allocate additional USD 90 billion in the transmission systems by 2020 in order to make it more efficient, dynamic and secure.
Digital Substation Market, By Connectivity
Germany Digital Substation Market Size, By Connectivity, 2014 – 2025 (USD Million)
The electric substation industry has majorly been influenced by numerous regulatory guidelines and mandates, which have laid certain standards pertaining to the deployment and manufacturing of the product. Standalone areas, in the recent years, have been a focal point for regulators and installers as these units hold a substantial potential for industry expansion and business growth. In addition, the increasing energy demand favoured by positive consumer shift to infuse a sustainable electricity network will complement the industry landscape.
Digital Substation Market, By Voltage Level
Rapid expansion of low-voltage distribution networks across the residential & commercial establishments have positively influenced the product demand. LV digital substation market is projected to witness significant growth subject to its wide range application across power & infrastructure sectors and process industries. Growing demand for low-voltage control systems with smart features in line with favourable power distribution reforms will stimulate the business growth.
Digital Substation Market, By End Use
Utility aided grid infrastructure have been positively influenced by regulatory & government schemes pertaining to electrical infrastructure installation. Positive government regulations toward rural electrification along with adoption of decentralized micro-grid network across remote areas have stimulated the global market. Moreover, infusion of sustainable energy infrastructure favoured by investments from regulatory authorities & institutions including the IFC, world bank and similar financial organisations will thrust the industry dynamics.
Digital Substation Market, By Installation
Growing demand on account of increased expenditure on the development of long-route electric networks and refurbishment of domestic infrastructure have strengthened the market. The United States Government, in 2018, announced plans to capitalise USD 10 billion to enhance new electric network, which is expected to curb the curtailment rate of the Western T&D Infrastructure. Furthermore, rising focus on the replacement of the prevailing electrical equipment with developed high-quality systems will escalate the industry growth.
Digital Substation Market, By Region
Asia Pacific digital substation market, in 2018 valued over USD 2.5 billion. Electricity demand across the region has pre-dominantly been driven by the planned and ongoing commercial and industrial development. Shifting trends toward replacement of overhead electric lines with underground network and aerial bunched cables will further augment the product penetration. Moreover, enhancing economic scenario will result in rapid growth of micro-grid infrastructure, which will further complement the business outlook.
Asia Pacific Digital Substation Market Size, By Country, By 2025 (USD Million)
Key Players, Recent Developments & Sector Viewpoints: Digital Substation Market
Eminent industry participant includes ABB, Locamation, Efacec, NetControl, Tesco Automation, Texas Instruments, Belden Inc, NR Electric, Emerson Electric, GE, Eaton, Schneider, Siemens, Cisco, Rockwell Automation, L&T, Guodian Nanjing Automation Co, Open System International and Beijing Sifang Automation Co.
Digital Substation Industry Viewpoint
Digital substation is a defined term applied to power substations where operation is handled between distributed intelligent electronic components interconnected by communications networks. The digital substation yields major benefits in terms of installation, operation and design & engineering. These units witness robust demand on account of maximum reliability & availability and smart grid communications capabilities across the globe
Key Insights Covered: Exhaustive Digital Substation Market
1. Market size (sales, revenue and growth rate) of Digital Substation industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Digital Substation industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Digital Substation industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Digital Substation industry.
Research Methodology: Digital Substation Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Digital Substation Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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