Increasing number of smart grid improving grid efficiency and reliability and increasing need for reduction in transmission and distribution loss are the major forces driving the growth of substation automation market.
Albany, NY -- (SBWIRE) -- 12/09/2015 -- Substation automation is an integral part of electrical system for generation, transmission and distribution of electricity. The combination of devices used to change the characteristics of electric supply such as voltage, p.f. and frequency among others is called substation. Substations are used 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. The build metrics and impact metrics are the major parameters used to determine the efficiency of an automated substation. Impact metrics determine the impact on the grid response and its associated human resource, infrastructure and the consumers after deployment of smart grid. Build metrics monitors the progress while building the smart grid infrastructure and is similar to project management type metrics. On the basis of the components substation automation market can be segmented into recloser controller, programmable logic controller, capacitor bank controller, digital transducer/smart meter, load tap controller, communication channel and digital relays among others.
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The communication channel includes four segments which includes ethernet, powerline communication, copper wire communication and optical fiber communication among others. SCADA (supervisory control and data acquisition), intelligent electronic devices (IED) and communication network among others are the segments of substation automation on the basis of modules. The demand to improve the grid efficiency and reliability is one of the major factors driving the growth of substation automation market.
Apart from this, the increased need to reduce transmission and distribution loss is also fuelling the growth of substation automation market. In addition, the need to reduce outrage time by real time monitoring of faults and using automated systems to resume services is also boosting the growth of substation automation market. North America is the largest market for substation automation as this region is having large number of automated substations. Moreover, the increasing demand for electricity and increasing number of smart grids is also fuelling the growth in this region. Asia Pacific is emerging market for substation automation and is expected to grow at the fastest rate among all regions.
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The rapid industrialization and upcoming power utilities are the major factors boosting the growth in this region. Apart from this, cost saving opportunities provided by the application of automated substations is also fuelling the growth of substation automation market. India and China are the major markets supporting the growth in this region. The RoW region includes Africa, Middle East and Latin America. The increasing number demand for electricity in Middle East region and Africa is boosting the growth in this region. Middle East holds the major market for substation automation in this region. The substation automation market is expected to grow at a steady rate in the coming years growing at a CAGR of 5.4% from 2014 to 2020.
This report provides strategic analysis of the global substation automation market, and the market growth forecast for the period 2014 to 2020. The span of the report includes competitive analysis of various market segments based on the components, module and in-depth cross sectional analysis of the substation automation market across different geographic segments. To support strategic decision making, the report also includes profiling of leading players in the industry, their market share and various strategies adopted by them. The Porter's Five Forces analysis and market attractiveness analysis included in the report provide insight into market dynamics and industry competition.
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The report also provides review of various factors affecting the market growth, which are appropriately described as market drivers, restraints, and opportunities. These factors establish various current trends and their impact on market size. Overall, the report takes into account a complete analysis of the global substation automation market, and provides an estimated growth for the period 2014 to 2020, taking into account the various factors affecting the market.
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