Comprehensive Study on Substation Market 2020 to 2026 | Top Companies like - General Electric, Eaton, Siemens, Cisco Systems, L&T Electrical and Automation, ABB Limited, Locamation
Ongoing industrialization with an aim to advance the overall economic growth positively swayed by foreign direct investment schemes to support the industrial & commercial establishments will augment the demand for primary & secondary electric distribution infrastructure. In addition, rapid digitalization across industrial establishments has significantly incorporated a competitive industry scenario owing to the increasing energy demand from communication base stations and data centers. Growing adoption of reliable, energy efficient, advanced, fire-resistant, and secure electric equipment has developed a favorable business scenario.
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Global Substation Market in 2019 exceeded USD 151 billion and is anticipated to surpass an annual installation of 24'500 units by 2026. Ongoing retrofitting & refurbishment of existing grid network will drive the demand for substations.
Some major findings of the global substation market report include:
- Rapid development of existing grid network along with ongoing grid modernization is positively swaying the demand for substation market
- Extensive investments from the state owned utilities for the expansion of prevailing infrastructure is driving the industry growth
- Ongoing government schemes and incentives toward an efficient transmission & distribution network will augment the product penetration
- Major participants operating across the global substation market are ABB, Emerson Electric, Eaton and Siemens
- Companies opt for strategic alliances with technology providers to implement effective monitoring & control.
- Large scale suburbanization & ongoing industrial development across Asia Pacific & Middle East have led to considerable increase in demand for substation systems.
The following manufacturers are covered in this report, with Technology, Component, revenue, market share for each company:
o ABB Limited
o Tesco Automation
o Texas Instruments
o Belden Inc
o NR Electric
o Emerson Electric Co.
o General Electric
o Cisco Systems, Inc.
o L&T Electrical and Automation
Utility aided electrical infrastructure has been positively swayed by government & regulatory directives subject to the grid deployment. Positive regulatory schemes pertaining to rural electrification coupled with the incorporation of decentralized micro-grid infrastructure across standalone areas have energized the product penetration. Moreover, institution of sustainable energy network favored by investments from local institutions and regulatory authorities including the world bank, IFC, and similar organizations across developing regions will positively sway the industry dynamics.
Low and medium voltage substations up to 145 kV in the recent years have gained a substantial thrust on account of the large-scale residential applications and rapid commercial expansion across the developing nations. Furthermore, the suburban migration has further led to the expansion of multi-storey apartments and residential complexes, escalating the industry growth. Positive consumer and regulatory inclination toward the incorporation of sustainable electricity networks will further stimulate the industry growth.
The U.S. market is set to witness growth of over 5% by 2026. Increasing demand for efficient transmission & distribution infrastructure along with an upsurge in commercial & industrial investment will fuel the business growth. Eminent government initiatives to promote substation automation & monitoring control systems technologies favored by stringent regulatory norms will positively sway the industry share. In 2016, U.S. utilities including public power providers, cooperatives and investor-owned utilities (IOUs) invested over USD 4.8 billion in smart grid technologies and control systems.
Table of Contents:
Chapter 1 Methodology & Scope
1.2 Market definitions & abbreviations
1.3 Market estimates and forecast parameters
1.4 Data Sources
126.96.36.199 Paid sources
188.8.131.52 Public sources
Chapter 2 Executive Summary
2.1 Global substation market 360 degree synopsis, 2015 - 2026
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Component trends
2.1.4 Application trends
2.1.5 Connectivity trends
2.1.6 Voltage level trends
2.1.7 End use trends
2.1.8 Category trends
2.1.9 Regional trends
Chapter 3 Global Substation Industry Insights
Chapter 4 Global Substation Market, By Technology
Chapter 5 Global Substation Market, By Application
Chapter 6 Global Substation Market, By Connectivity
Chapter 7 Global Substation Market, By Voltage Level
Chapter 8 Global Substation Market, By End Use
Chapter 9 Global Substation Market, By Category
Chapter 10 Global Substation Market, By Region
Chapter 11 Substation Market Company Profiles
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