Substation Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020
Albany, NY -- (SBWIRE) -- 01/22/2016 -- The growing global substation automation market primarily deals with advanced communications systems and control technologies. Grid efficiency is the main factor that drives this market. Substation automation aims at eliminating obsolete equipment, decreasing operating cost and reduction of room space and the control panel. It plays a pivotal role in the electrical system for generating, transmitting and distributing electricity. The combining of devices and equipment that are used for altering the features of electricity supply like frequency, voltage and pf is known as substation.
The need for substation automation by power companies for meeting the rising energy needs creates the necessary demand in the global substation automation market. The primary focus of the emerging smart grid is on electrical substations because they comprise the crucial interconnections of the power grid providing power conditioning, voltage conversion and protection functions that are needed between the different levels of distribution and transmission networks.
Earlier, the global substation automation market was characterized by automation systems that offered simple remote monitoring and control facilities that either reduced or entirely eliminated the need to regularly staff huge substations. However, today substations are vital for end-to-end smart grid automation and instrumentation.
Global Substation Automation Market - Market Segmentation
The global substation automation market is segmented on the basis of types of substation, SCADA (supervisory control and data acquisition) for substation automation, communication networks and technology, components and geography. The types of substation include distribution substation, transmission substation and tie line substation which is also known collector substation.
Communication networks and technology include Ethernet, power line, fiber optic and copper wire communications networks. The components include Intelligent Electronic Devices (IEDs) such as recloser controls, digital protection relays, digital transducers, capacitor bank controls, voltage controls, logical programmable controller and RTUs. Communication is of utmost importance for substation automation since all the monitoring devices and IEDs that are situated at substation and the field generate data that needs to be transmitted to the utility data center that is located remotely.
Growth Drivers and Inhibitors in the Global Substation Automation Market
Substations vary drastically on the basis of their complexity, cost and size. Huge transmission substations look into the power needs of entire cities and the local distribution substations cater to the needs to the feeder circuits of local residential neighborhoods. Improved technology and a move towards system standards like IEC 61850 are leading to cost effective substation automation.
The main factors that drive the global substation automation market include rising need for reducing distribution and transmission losses, rising number of smart grid improving grid efficiency, and reliability. Increasing demand for distributed intelligence also drives the market for substation automation. The substation automation market in the Asia Pacific is driven by increasing demand for electricity due to rapid industrialization. The ageing and obsolete power utility infrastructure in the Asia Pacific economies is also another factor that fuels the growth of the substation automation market in this region.
The factors that inhibit the growth of the global substation automation market include steep initial investments, strict regulation issues and matters pertaining to cyber security. Risks related to data security increases the need for greater cyber security.
Key Players in the Global Substation Automation Market
The presence of a large number of automated substations in North America makes this region the largest market in the global substation automation market. China and India are expected to be the fastest growing substation automation markets in the forthcoming years due to the cost saving opportunities extended by the application of automated substations in these regions. Growth of this market in Africa and the Middle East regions is driven by the increasing demand for electricity. There is high growth potential in the Middle East region.
Some of the prominent companies in the global substation automation market include Echelon Corporation, ABB, Ltd., Alstom S.A., Siemens A.G., GE Energy Management, Itron, Inc., Trilliant, Inc., Schneider Electric S.E., Cisco Systems, Inc. and Eaton Corporation Plc.
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