Press release
Substation Automation Market - Size, Trends, Drivers, and Regional Insights (2022-2031)
The Global Substation Automation Market, valued at US$ 27.29 Bn in 2021, is poised for remarkable growth at a CAGR of 6.7% from 2022 to 2031. As the market is estimated to reach US$ 51.65 Bn by the end of 2031, this article delves into the key factors propelling its expansion.Market Overview: Substation automation systems, a fusion of hardware and software, play a pivotal role in monitoring and controlling electrical systems. Post-COVID-19, companies are eyeing growth in the energy and utility sector, driving substantial market growth. Noteworthy advantages include fault detection, automation of monotonous tasks, and reduction in operating costs.
Request Your Sample Copy: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2737&utm_source=Openpr&utm_campaign=Amit
Key Drivers:
Aging Infrastructure Upgrade:
Existing substations demand manual management, leading to significant costs and productivity losses.
Initiatives in North America focus on transmission and distribution investments to address aging infrastructure, enhancing reliability and reducing downtime.
Rising Electricity Demand:
The surge in global electricity consumption, driven by residential, commercial, and industrial sectors, necessitates robust substation automation.
Intelligent electronic devices (IEDs) integration is a step-wise approach towards comprehensive substation automation.
Need for New Power Stations and Smart Grids:
Increasing demand for new power stations and smart grids globally favors the new installation segment of the substation automation market.
New installations offer enhanced reliability, operational safety, and low maintenance requirements.
Regional Insights:
• Asia Pacific Dominance: The region leads the substation automation market, driven by government investments in energy infrastructure, urbanization, and escalating energy demand.
• European Growth: The European market is on an upward trajectory, supported by the region's commitment to renewable energy targets and policies promoting decentralized electricity generation.
Competitor Analysis:
The substation automation market is consolidated, with key players including Cisco Systems, Eaton Corporation, General Electric, Hitachi ABB, Schneider Electric, Siemens, and others. Notable developments include Schneider Electric and Enedis' project for a next-generation substation and GE's digital substation for an offshore wind farm.
Market Segmentation:
• Offering: Hardware (IEDs, meters, relays, RTUs, PMUs, communication devices) and Software (SCADA, OMS, DCS), Services (consulting, installation, maintenance).
• Type: Transmission and Distribution Substations.
• Installation: New and Retrofit Installations.
• Industry Verticals: Energy & Utility, Oil and Gas, Others.
Future Outlook and Trends:
• The market is expected to witness sustained growth, fueled by the adoption of renewable energy sources and smart grid technologies.
• Technological advancements, such as the integration of digital substation technologies and predictive asset management solutions, will shape the market's future.
Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=2737<ype=S&utm_source=Openpr&utm_campaign=Amit
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Substation Automation Market - Size, Trends, Drivers, and Regional Insights (2022-2031) here
News-ID: 3417977 • Views: …
More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…

Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…

Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…

Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…