Digital Substation Market Research Report
The GMI Research expects the digital substation market to
expand at a significant rate. From a regional perspective, the APAC is
projected to lead the market due to the increasing emphasis on the
modernization of industrial applications. The government is launching different
projects related to green energy sources, renewable energy sources, and
distribution network expansion will further drive the market growth.
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Digital Substation Market Dynamics (including
market size, share, trends, forecast, growth, forecast, and industry analysis)
Key
Drivers
The rising electricity demand, the increasing smart grid
networks, and the strong demand to replace traditional substation technology
globally are the major factors surging the growth of the digital
substation market size. The life span of grid infrastructure is around
38-52 days. The infrastructure is impacted by various cosmic breakdowns, such
as fraying wiring and loosening screws. For example, power outages took place
all around the U.S., where in New York, Los Angles, and San Francisco were the
most influenced areas in April 2017. In the outrage, each area experienced
infrastructural issues, including communication networks, supply chains, mass
transportation, and shut down in business commerce, which led to the huge
monitory loss. Thus, to reduce such risks, business is opting for digital
substation technology as it provides high-performance digital sensors,
durability, and shorter installation time.
The growing development in renewable energy projects like
solar and wind is expected to bring lucrative opportunities for the market
across the world. On the other hand, the factor hampering the growth of the
market include the rising initial investment in digital substation technology
is better than traditional substation technology.
Module
Segment Drivers
Based on the module, the fiber optic communication network
segment is anticipated to grow at a higher CAGR in the forecast period. All the hardware in a substation is connected
to each other through a fiber optic cable and ensures that communication of
data among modules makes the digital substation system easy to control and
efficient. Thus, the strong demand for fiber optic communication networks in
the upcoming years is a key factor propelling the demand of the segment.
Digital Substation Market’s leading
Manufacturers:
·
General Electric Company
·
Siemens AG
·
Cisco Systems Inc
·
Honeywell International Inc
·
ABB
·
Larsen & Turbo Limited
·
Emerson Electric
·
Yamal LNG
·
Eaton Corporation Plc
·
NR Electric Co. Ltd
Digital Substation Market Segmentation:
Segmentation
by Module:
·
Hardware
o
Transformers
o
Busbars
o
Protection Devices
§
Circuit Breakers
§
Protective Relays
§
Switchgears
o
Interfacing Units
§
Human-Machine Interfaces
§
Remote Terminal Units
§
Programmable Logic Controllers
o
Others
·
Fiber Optic Communication Network
·
SCADA Systems
Segmentation
by Type:
·
Transmission Substation
·
Distribution Substation
Segmentation
by Voltage:
·
Up To 220 KV
·
220-550 KV
·
Above 550 KV
Segmentation
by Industry:
·
Utility
o
Non-Renewables
o
Renewables
·
Metal
·
Mining
·
Oil & Gas
·
Transportation
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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