Utility Asset Management Market Study with focus on Company Profile, Product and Service, Business Operation Data by Forecast to 2023

Market Overview:

Asset management is a concept that has been used in both, private and public sectors with a vast number of interpretations. Asset management can be defined as a systematic process of, cost-effectively, operating, maintaining and upgrading of electrical assets by combining engineering practices and economic analysis with sound business practice. Any given electrical distribution network is made up of the primary and secondary plants. Hence these assets too, can be classified as either primary or secondary plant assets. The rapid rates of technology developments and technology integration have continued to pose challenges to asset management in the global electrical power sector.

The deregulation of the electricity industry, is a driving force behind the development of new technologies and markets for power transmission. Electric utilities are focused on construction costs of new transmission and distribution (T&D) systems, or providing grid extension to emerging communities. To maintain profitability, electric utilities have narrowed down their strategic goals to reduce the cost of electricity to customers, ensuring high environmental and occupational health standards, improving service quality and better safety measures for personnel and equipment.

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New technology and operation methods are required to facilitate market-driven network services while the need for network services is growing. With time, adequate network services are expected to produce a similar impact that the introduction of the gas turbine and combined cycle technology has produced in the generation sector, where the competition is now well established. Electricity industry reform will also introduce new challenges into network introduction interconnections. At the distribution level which is below 132kV, issues in network management are mainly that of voltage regulations, voltage fluctuations, distribution plant loading and utilization, fault level, and generation stability. Harmonics, phase balancing, supply availability, electrical losses and security are also some of them. From the distribution systems perspective, the challenges are in the way to manage within the lowest maintenance and operating costs, maximizing the life-span of existing plant and equipment, and investing in new technology. Operating optimally with reduced workforce, locally restructuring the electricity industry both effectively and efficiently, and meeting these constraints while enhancing system reliability and efficiency are among other challenges.

Top Key Players:

The key players of global utility asset management market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), S & C Electric Company (U.S.), Sentient Energy, Inc. (U.S.), Aclara Technologies LLC (U.S.), Emerson Electric Co. (U.S.), Enetics Inc. (U.S.), Lindsey Manufacturing Co. (U.S.), Netcontrol Oy (Finland), Cniguard Ltd. (U.K.), and Vaisala OYJ (Finland).

Global Utility Asset Management Market Analysis:-

The global utility asset management market is expected to witness a phenomenal growth during the forecast period. This is due to the considerable growth in the power sector with population boom along with rise in energy demand has propelled the utility asset management market in various regions. The growth is primarily attributed to up gradation of aging utility infrastructure and growing investments in distributed generation and related government regulations, which is likely to continue during the forecast years. The Asia Pacific region is expected to grow at the highest CAGR from 2017 to 2023, wherein China was the largest country-level market, followed by India and Japan. Rising population with tremendous energy demand growth has resulted in phenomenal growth for electrical infrastructure in the region and subsequently resulted into growth for utility asset management market.

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Table Of Contents:-

1 Executive Summary

2 Scope Of The Report

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.2 Value Chain/Supply Chain Analysis

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