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Substation integration Market: Emerging Industry Trends & Global Future Forecasts

, 11 January 2019 -- Some of the leading players operating in the Substation integration market includes ABB Ltd. (Switzerland), GE (The U.S.), Cisco Systems(The U.S.) , Siemens (Germany), Alstom (The U.S.), Freescale semi China ltd. (China).Eaton Corp.(The U.S.), Beijing Sifang Automation (China) among others.

Substation integration is a method of protecting, controlling and acquisition of data into a nominal number of platformfor the purpose of reducing operating and capital cost, it also helps in reducingthe control and panel room space, and it also helps to eliminate redundant equipments and databases. The growing adoption of smart grid technology in the utility sector and the need to reduce the distribution and transmission losses in the mode of hysteresis and eddy current loss substation integration market is expected to grow at a moderate pace in the forecasted period from 2017-2025.

For purpose of doing in depth analysis, the Substation integration market is been segregated based on module, type, installation type, by offering, end user and the geography. Based on the modulethis market has been segregated mainly into three types; they are like communication network, intelligent electronic device and SCADA system. By type the Substation integration market has been segmented mainly into two types they are like transmission substation and distribution substation.

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By installation type the market has been segmented mainly into two types they are like new installation and retrofit installation. On the basis of offering the Substation integration market has been segmented into three types, they are like offering in hardware, software and in services.By end user the market has been segmented mainly into five types they are like metals and mining, utility, oil and gas, transportation and others. Moreover, this report also provide cross functional analysis of all the above mentioned segments across different regions such as Europe, North America, Asia Pacific, Middle East and Africa and Latin America.

Some of the key factors which are responsible for the growth of substation integration market are the growing demand of replacing the old and aging substations with the advance communication and multifunctional solutions. Very robust demand of advanced metering infrastructure isalso one of the major reason for driving the demand for the substation integration market. Thus, the continuously growing need for the open system architecture and replacement of RTU’s with the advanced PLC and IED is also one of the main factor estimated to act as a catalyst for the growing demand of substation integration market during the forecast period from 2017 to 2025. In addition to thatrapid growth of smart cities will increase the adoption of large scale substations in the upcoming years. In turn this is also expected tocreate a strong positive affect in the Substation integration market during the forecasted period of 2017-2025.

High capital expenditure of installation of the wireless sensor network is acting as a restraining factor for the of substation integration market from achieving the full potential. The biggest challenge of the substation integration is the threat of cyber attacks during retrofitting traditional substations with the new one. Inadequate infrastructure for substation automation and integration is also acting as a restraining factor in the growth of Substation integration market.

By installation type, retrofit installationheld the largest market share because of the upgradation of the conventional substation with the automated substation to improve the operational efficiency. Retrofit installationis projected to achieve highest growth during the forecast period. The strong demand of electricity and renewable energy sources like wind and solar energy is expected to drive the market in the forecast year 2017-2025.

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Geographically, the substation integration market is being primarily driven by North America region. Rising demand of the investment in smart grid technologies is driving the market of North America region. Rapidly growing demand of substation in electrical utility segment is expected to drive the Substation integration market rapidly. Asia Pacific region is anticipated to maintain high CAGR in the market during the forecasted period from 2017-2025 owing to the growing demand of relays and the digital transducers in the utility industry.

Some of the leading players operating in the Substation integration market includes ABB Ltd. (Switzerland), GE (The U.S.), Cisco Systems(The U.S.) , Siemens (Germany), Alstom (The U.S.), Freescale semi China ltd. (China).Eaton Corp.(The U.S.), Beijing Sifang Automation (China) among others.

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Submitted by Sandy Researcher, Transparency Market Research on Friday, 11 January 2019 at 5:07 PM
Category: Business
 
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