Substation Automation Market worth $56.4 billion by 2030, growing at a CAGR of 6.9% - Exactitude Consultancy

Substation Automation market

The Exactitude Consultancy global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2030

Substation Automation market expands, driven by the need for efficient energy management, grid reliability, and integration of smart technologies in power infrastructure globally”

— Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 1, 2023 /EINPresswire.com/ -- The “Substation Automation “Market Research analysis presents estimations of growth, size, and projections for each market segment, accompanied by trends and forecasts based on revenue (in USD million)

The Substation Automation market 2023-2030 is an extensive market research report which provides industry analysis with a historical & futuristic outlook. The report includes comprehensive information on the market drivers, key trends and challenges, a deep examination of trends, opportunities, value chains, future roadmaps, and strategies. The report consists of SWOT, PESTEL, and Porter’s 5-forces analysis frameworks. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the current scenario. Exactitude Consultancy ensures qualified and verifiable aspects of market data operating in the real- time scenario.

The global substation automation market size is expected to grow at 6.9% CAGR from 2023 To 2030. It is expected to reach above USD 56.4 billion by 2030 from USD 36.2 Billion in 2022.

Top companies covered in this report: hitachi abb power grids, siemens energy, General Electric, cisco, schneider electric, eaton corporation, novatech automation, cadillac automation and controls

Industry News:

Schneider electric acquired a major in etap automation inc. (Dubai), the leading software platform for electrical power system modeling and simulation, in order to expedite and increase the integration of renewables, microgrids, and fuel cells.

Hitachi abb power grids launched the new remote terminal unit (RTU) 530, which extends the life of current power distribution networks and facilitates the transition to newer technologies by providing security features such as secure communication, encryption, and security logging.

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Substation Automation Market Segmentation:

Substation Automation Market By Type, 2022-2029, (IN USD Million)

Transmission Substation

Distribution Substations

Substation Automation Market By Application, 2022-2029, (IN USD Million)

Utilities

Steel

Oil & Gas Mining

Transportation

Regional Outlook:

The report’s primary insights into various regions and the major companies involved in each one are provided in this section. When evaluating a region’s or country’s growth, economic, social, environmental, technological, and political issues have all been taken into account. Additionally, each country’s and region’s revenue and sales information for the years 2018 through 2029 will be made available to readers.

The market has been divided into four key regions: North America, Europe, Asia-Pacific, and South America. The regional part will include a thorough analysis of important nations like the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India.

APAC is expected to exhibit the highest CAGR in the substation automation market during the forecast period. Several initiatives have been taken by various governments in APAC countries to improve the power and energy sector, driving the growth of the market. The Government of India has launched several schemes to revive power distribution utilities and electrify villages. The Indian government is following the smart infrastructure vision in its country. The smart power infrastructure includes digitization of the grid, which helps distribute uninterrupted electricity to the industrial, residential, and commercial end users. Additionally, in 2020, the Government of China invested USD 31 billion to modernize its grid infrastructure by installing automated substations.

Important Features of the reports:

- Detailed analysis of the Substation Automation market

- Fluctuating market dynamics of the industry

- Detailed market segmentation

- Historical, current and projected market size in terms of volume and value

- Recent industry trends and developments

- Competitive landscape of the Substation Automation Market

- Strategies of key players and product offerings

- Potential and niche segments/regions exhibiting promising growth

- A neutral perspective towards Substation Automation market performance.

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The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Substation Automation market.

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Substation Automation market

How big will the market and growth rate be in 2029?

What are the key drivers for the global Substation Automation market?

What are the major market trends influencing the growth of the global Substation Automation Market?

What are the challenges for market growth?

Who are the key vendors in the global Substation Automation market?

What market opportunities and threats are vendors facing in the global Substation Automation market?

What are the main findings of the five forces analysis of the global Substation Automation Market?

Conclusion: At the end of the Substation Automation Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.

Customization of the report: The report can be customized according to the client’s requirements. Get in touch with our sales experts and we’ll make sure you get a report that fits your needs.

Substation Automation Market worth $56.4 billion by 2030, growing at a CAGR of 6.9% - Exactitude Consultancy

Distribution channels: Business & Economy, Energy Industry

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