Global Electric Power Substation Automation Market was valued US$ XX Bn in 2017 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX % during the forecast period.
Increasing demand for electric power substation automation in smart grid and technological advancement is the major driving factor of global electric power substation automation. Apart from this, energy infrastructure is an important driver in this market. The key restraints in electric power substation automation market are the absence of proper technical standards, concern for cybersecurity, and lack of skilled workforce and also huge initial capital investment. The capital required in this market is more than the benefits that are achieved after automation in the electric power substation. The major opportunity of electric power substation automation market is operational proficiency.
With the automation of the electric power substation, the operation is projected to be done efficiently. The data procurement, supervision and control become stress-free with the automation. In addition, operating cost is condensed in the electric power substation automation market which also acts as an opportunity in this market.
Regionally, while North America established dominance in the global power substation automation market, Asia Pacific is projected to report a higher CAGR during the forecast period. Because of the considerably high industrial penetration, the demand for power substation automation will continue to remain high in North America. However, the growth witnessed across major economies is likely to stagnate in the forthcoming years, compelling the leading market players to look for opportunities in developing nations. In the Asia Pacific, they will discover beneficial prospects as emerging nations exhibit rapid industrial growth and flourishing economies.
The leading players in the electric power distribution automation systems market include General Electric, Eaton Corporation Plc, Mitsubishi Electric Corp., ABB Ltd., G&W Electric Company, Schneider Electric, Elster Solutions, Schweitzer Engineering Laboratories, Siemens AG, and S&C Electric Company among others. These leading players in the market are introducing innovative products in the market to cater to the growing demand of consumers. Global companies are entering new markets in developing regions to expand their customer base and strengthen market presence.
The analysis covers financial reports of the companies profiled, an evaluation into the recent business strategies and subsequent effects, strengths and weaknesses, and the evolution of their operations over the years. Based on research thus conducted, the report provides a refined outlook to assist the market players, both existing and new entrants, create winning business strategies for the future.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the electric power substation automation market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Electric Power Substation Automation Market
Global Electric Power Substation Automation Market, By Automation Stage
• New Construction Automation Stage
• Communication Network Technology
• Asia Pacific
• Middle East & Africa
• South America
• ABB Ltd.
• Schneider Electric
• Siemens AG
• General Electric
• Alstom S.A.
• Cisco Systems
• Eaton Corporation
• Schweitzer Engg Lab.
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