Press release
Substation Automation Market Size to Reach 50 Billion by 2022 with Market Key players - Eaton Corporation Plc., General Electric Company, Larsen & Toubro Limited, Siemens AG, ABB Ltd., Cisco Systems, Inc., Crompton Greaves Ltd., Schneider Electric SE, Tri
The substation automation and integration market was valued at USD 32.53 Billion in 2015 and is projected to reach USD 50.16 Billion by 2022, at a CAGR of 5.9% between 2016 and 2022.
Browse 150 Pages of Research Report developed on the Substation Automation Market @
https://www.researchcosmos.com/reports/substation-automation-market/17509440
Substation Automation Market Overview:
Substation automation is an essential part of the electrical system for transmission, generation, and distribution of electricity. The combination of devices used to change the characteristics of electric supply voltage, and frequency among others is called substation. Substations are practiced to receive electricity at high voltage from the transmission and decrease the voltage to the appropriate level so that it can be used for local distribution
An increasing number of smart grids improving grid reliability and efficiency, and increasing need for reduction in transmission and distribution loss are the major forces driving the growth of the global substation automation market.
According to this, the demand for distributed intelligence is also fuelling the growth of the substation automation market. The swelling demand for electricity with rapid industrialization in the emerging economies of Asia Pacific is also supporting the growth of the market. The market extension can be attributed to the developing requirement for low-cost substation automation solutions in the solar industry and the building demand for retrofitting of conventional substations.
For Free Sample of the Report @ https://www.researchcosmos.com/request/substation-automation-market/17509440
Substation Automation Market Geographical Segmentation:
Based on geographical analysis, North America accounted for the highest market share in 2013, which is expected to lure heavy investment. At the same time, high-end research is expected to be carried out in the field of substation automation. Moreover, growing demand for reduction in outrage time improving the transmission efficiency is also fuelling the growth of the regional market. The Asia Pacific substation automation market was valued at USD 19.55 billion in 2013 and is expected to be the fastest growing region in the forecast period. The aging infrastructure of existing power utilities and the need to upgrade them to meet the rising demand for electricity is also boosting the growth in the Asia Pacific region.
Key players of the Substation Automation Market:
Some of the key industry players operating in the global market are Eaton Corporation Plc., General Electric Company, Larsen & Toubro Limited, Siemens AG, ABB Ltd., Cisco Systems, Inc., Crompton Greaves Ltd., Schneider Electric SE, Trillian Holdings, Inc., and Vinson Electric Pvt. Ltd. The manufacturers in the market are investing profoundly in developing advanced solutions and focusing on potential opportunities in the industry.
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Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
Kevin Stewart
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Research Cosmos
www.researchcosmos.com
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