Substation Automation Market Research Report 2022 – Global Forecast till 2031

According to Future Market Insights (FMI), increasing adoption of new technologies in industrial sector is a key factor fuelling the demand for substations in industrial applications. Besides this, the rising expenditure on power transmission & infrastructure development around the world has boosted the demand of substations for commercial applications.

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What Is the Impact Of COVID-19 Crisis on Substation Automation Market?

Lockdown imposed across various countries has negatively impacted the substation automation market. Limited production and activities in supply chain has delayed e deliveries of products which has negatively affected the market.

The COVID-19 outbreak has had a huge impact on not only operations of substation automation market players, but also on firms across various end-use sectors. Shutdowns of various facilities and factories has had a severe impact on global supply chains, negatively impacting manufacturing, delivery schedules, and product sales worldwide. A few automation companies have already stated that product delivery may be delayed and that future sales of their goods may suffer.

Governments around the world have reduced spending in many sectors in order to focus more on strengthening the healthcare infrastructure. Furthermore, the demand for substation automation products and solutions from national grid projects are expected to shrink. These factors are expected to negatively impact the substation automation market.

Key Takeaways from Substations Market Study

• The demand from manufacturing sector is set to account for over 22% of the market share on value basis by the end of forecast period.
• The East Asia and South Asia & Pacific will remain a primary markets, backed by rising industrial sector and growing urbanization. These regions will cumulatively account for 43% of the demand registered in globally in 2021.
• Within North America, the U.S. will account for over 61% of sales in 2021.
• Italy, the UK, and Spain are expected to spearhead growth in Europe.

“As competition increases, some of the leading substation automation system producers are focusing on collaboration to strengthen their footprint. Through this, they also aim at offering innovations,” says a Future Market Insights analyst.

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Who is winning?

Key players in the substation automation market account for around 65% of the market share. In order to achieve more sales top companies are creating contracts with end users and developing custom products according to needs of the customer along with that manufacturers have focused on enhancing their sales network in order to achieve strong global presence.

Some of the key players in this industry include but are not limited to ABB, General Electric, SIEMENS AG, Schneider Electric, Emerson Electric Co. CISCO, Rockwell Automation, Mitsubishi Electric Automation, TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION, Fuji Electric Co., Ltd. Eaton and Ingeteam.

Find More Valuable Insights

The research report analyzes demand for Substations market. The global Substations Market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of type, flow rate, application and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.

Substation Automation Aftermarket by Category

By Component:

• Hardware
  • IEDs
  • Bay Controller
  • Feeder and Motor
  • Protection Relay
  • Tele controller / IECs
  • Circuit Breaker Control & Management
  • Line Differential
  • Others
• Software
  • Data Visualization and Monitoring
  • Data Analysis

By Site:

• Process Level/ Electric Control unit
• Bay Leve
• Substation Level

By Rated Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

By Control System:

• SCADA based
• HMI based
• RI/O (Remote Input-Output) based

By Application:

• Transmission Substation
• Distribution Substation

By Control System:

• Commercial and Civic Power Utilities
• Oil & Gas terminals
• Mining & Metallurgy
• Manufacturing Unit
• Railways

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

Key Questions Answered in the Report

• What is the Substation Automation Market Size?
• What is the Substation Automation Market Outlook for 2021-2031?
• Which Is the Highest Grossing Substation Automation Market?
• Which is the Top-selling Rated Voltage in the Substation Automation Market?
• Which are some of the Leading Substation Automation Providers?
• Which is the Chief Application in Substation Automation Market?
• What is the North America Substation Automation Market Outlook?
• At What Rate Will The Demand for Substation Automation Rise in Europe?
• What is the Japan and South Korea Substation Automation Market Outlook?

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