Worldwide Substation Automation Industry to 2026 - by Module, Offering, Installation Type, Industry, Communication Channel and Geography - ResearchAndMarkets.com

The "Substation Automation Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global substation automation market is evaluated at US$46.173 billion for the year 2019 and is projected to grow at a CAGR of 6.27% to reach a market size of US$70.675 billion by the year 2026.

Substation automation is the technique of controlling and directing orders from distant users utilizing data or information from intelligent electronic devices (IEDs) within a substation. It connects power plants and grids to ensure that power is delivered consistently and dependably. Numerous reclosers, programmable logic controllers and capacitor banks, smart meters, transformers, switches, and digital relays are all part of it. This software-based substation automation system (SAS) is used to optimize assets while minimizing human involvement and operational expenses. As a result, it finds widespread use in a variety of sectors, including oil and gas, transportation, mining, and steel.

Rapid industrialization, along with a growing need for cost-effective energy management systems throughout the world, is propelling the market forward. Automated substations control voltage variations and are an important part of energy transmission and distribution (T&D) systems, helping to reduce outages and total operating costs. Various technical advances, as well as the integration of main equipment with contemporary sensors, protective relays, programmable logical controllers, and digital transducers, are also boosting market expansion. Furthermore, the growing trend of smart cities and the widespread use of smart grids, particularly in developing nations, is boosting the market's prospects. Other factors such as growing retrofitting and upgrade of old substation equipment, government efforts supporting substation automation, and significant research and development (R&D) activities are expected to propel the market even more.

The market for smart grids is growing due to the rising need for efficient energy transmission, cheaper utility operations, and administration expenses, and ultimately lower power bills for consumers. Smart grids in substation automation are also growing due to the increased integration of large-scale renewable energy systems and enhanced security, among other factors. Smart grid communication technology offers utilities, their suppliers, and their consumers' predictive data and advice on how to effectively manage electricity. Furthermore, smart grids are being implemented through the use of contemporary technology in substations and power networks. To get to the smart grid, you'll need comprehensive data from transmission network substations to evaluate and control it. The market is being driven by trends toward updating and retrofitting aging traditional substations as well as new contemporary substations.

Companies Mentioned

• ABB
• General Electric
• Siemens AG
• NovaTech
• Cisco
• Toshiba Corporation
• Eaton Corporation
• Schweitzer Engineering Laboratories
• NovaTech Automation
• Cadillac Automation and Controls

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter's Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Function

4.4. Function Value Chain Analysis

5. Global Substation Automation Market Analysis, By Module

5.1. Introduction

5.2. Communication Networks

5.3. SCADA Systems

5.4. Intelligent Electronic Devices

6. Global Substation Automation Market Analysis, By Offering

6.1. Introduction

6.2. Hardware

6.2.1. Protective Relays

6.2.2. Recloser Controllers

6.2.3. Load Tap Changers

6.2.4. Others

6.3. Software

6.4. Services

7. Global Substation Automation Market Analysis, By Installation Type

7.1. Introduction

7.2. Retrofit Installations

7.3. New Installations

8. Global Substation Automation Market Analysis, By Industry

8.1. Introduction

8.2. Energy and Power

8.3. Mining

8.4. Travel and Transport

8.5. Steel

8.6. Oil and Gas

9. Global Substation Automation Market Analysis, By Communication Channel

9.1. Introduction

9.2. Ethernet

9.3. Power line Communication

9.4. Copper wire Communication

9.5. Optical fiber Communication

10. Global Substation Automation Market Analysis, By Geography

11. Competitive Environment and Analysis

11.1. Major Players and Strategy Analysis

11.2. Emerging Players and Market Lucrativeness

11.3. Mergers, Acquisitions, Agreements, and Collaborations

11.4. Vendor Competitiveness Matrix

12. Company Profiles

12.1. ABB

12.2. General Electric

12.3. Siemens AG

12.4. NovaTech

12.5. Cisco

12.6. Toshiba Corporation

12.7. Eaton Corporation

12.8. Schweitzer Engineering Laboratories

12.9. NovaTech Automation

12.10. Cadillac Automation and Controls

For more information about this report visit https://www.researchandmarkets.com/r/lxkzes