Growth Opportunities in Substation Automation Market by 2026 including Leading Companies: Schneider Electric SE, Cisco Systems, ABB Ltd., Siemens AG, Eaton Corporation Plc., General Electric, Honeywell International Inc., Larsen & Toubro Limited
Substation Automation Market generated $122.2 billion in 2017 and is anticipated to grow at a CAGR of 6.1% during the forecast period.
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Substation Automation offers enhanced protection, control, automation, monitoring, and communication within a substation. Substation automation uses IEDs, protection relays, metering, and monitoring solutions for improved performance. Substation automation provides automatic supervision of interlocks, equipment diagnostics, local and global alarm and warnings, security control with multiple access levels, and enhanced asset management among others.
The demand for Substation Automation ion has increased over the years owing to growing adoption of smart cities, and increasing demand for efficient and low-cost solutions in the solar energy sector. The demand for electricity, coupled with high demand for smart grids has increased the adoption of substation automation. The increasing need for efficient and low-cost solutions in the solar energy sector further supports Substation Automation Market growth. Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.
Substation Automation Market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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The leading in Substation Automation Market include: -
• Schneider Electric SE
• Cisco Systems
• ABB Ltd.
• Siemens AG
• Eaton Corporation Plc.
• General Electric
• Honeywell International Inc.
• Larsen & Toubro Limited
• Crompton Greaves
• Schweitzer Engineering Laboratories Inc.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Substation Automation Market. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Table of Content of Substation Automation Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Substation Automation Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
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