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Substation Automation Market Size worth $ 51.65 Billion by 2031 | CAGR: 6.7% - TMR Study

Thursday, October 20, 2022 6:03 AM

WILMINGTON, DE / ACCESSWIRE / October 20, 2022 / Transparency Market Research Inc. - In 2021, the value of the global substation automation market size stood at US$ 27.29 Bn. The global market is anticipated to rise 6.7% CAGR during the forecast period, from 2022 to 2031. It is predicted that by 2031, the global substation automation market will touch value of US$ 51.65 Bn. For remote and local management and monitoring of an electrical system, a substation automation system combines software and hardware components. Benefits of substation automation system are many. The tedious, time-consuming, and error-prone jobs can be automated by a substation automation system to increase the system's efficiency along with overall productivity. Companies in the global substation automation market are concentrating on certain industry verticals including energy and utilities to expand after COVID-19 outbreak.

Transparency Market Research inc., Thursday, October 20, 2022, Press release picture

The majority of utilities install SCADA systems in substations to automate surveillance and control, ensuring the proper operation of substations and associated machinery such as capacitors and line-mounted switches. Functions are connected in contemporary automatic substation control utilizing SCADA through power line carrier/radio communication links and digital processing equipment.

Asia Pacific has led the global substation automation market as a result of growing government expenditure on energy infrastructure as a result of rising urbanization and energy consumption. Increasing government spending on energy infrastructure as a result of growing energy consumption and urbanization has led to the expansion of the Asia Pacific substation automation market. The Asia Pacific market size is also being driven by rising power dependency and the need to save operating and maintenance expenses. In addition, the demand for technological advancements from the power system and introduction of government incentives are also anticipated to boost the global market.

European substation automation market is also expected to observe considerable growth possibilities owing to growing emphasis on renewable source of energy.

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Key Findings of Market Report

  • Government efforts to update power systems have increased, as have investments in the production of electricity from renewable sources. Due to an increase in the use of alternative and renewable energy sources as well as a growth in demand for smart grids, the Substation Automation Companies are anticipated to observe strong growth possibilities.
  • Electricity has become increasingly important in day-to-day activities. Due to increasing usage of air conditioners, coolers, and fans during the hot summer afternoons, home energy demand rises. The need for electricity in commercial settings increases throughout operating normal office hours and can be significantly reduced on evenings and weekends.Increasingly effective and dependable automation and protection systems for substations are required due to the increase in electric power consumption over the past few decades. The energy and utilities sector of the substation automation industry is consequently growing, which is likely to drive the global market.
  • Depending on installation type, new installation segment is likely to account for a sizeable chunk of the global market as there is a rising need for new power plants and the smart grid in various cities. The market for substation automation is driven by the new installation category since new installations have higher operational stability and dependability and need less maintenance.

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Global Substation AutomationMarket: Growth Drivers

  • S.A.S. or Substation Automation Systems are next generation systems that carry out protection, automation, and control functions and are developed depending on functional needs. These are now an important part of energy delivery networks. As such, the energy and utility category now hold a majority of the global market for substation automation.

Global Substation Automation Market: Key Competitors

  • Schweitzer Engineering Laboratories, Inc.
  • Eaton Corporation plc.
  • Mitsubishi Electric Corporation
  • Schneider Electric SE
  • Cisco Systems, Inc.
  • Siemens AG

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Global Substation Automation Market: Segmentation


  • Hardware
  • Software
  • Services


  • Transmission Substations
  • Distribution Substations


  • New Installations
  • Retrofit Installations

Industry Vertical

  • Energy & Utility
  • Oil and Gas
  • Others

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

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.

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SOURCE: Transparency Market Research inc.

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