Research and Markets: Global Substation Automation (SCADA, IED, Communication Network) Market 2014 - 2020
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/m3s36r/substation) has announced the addition of the "Substation Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" report to their offering.
“Substation Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”
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
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. Apart from this, demand for distributed intelligence is also fuelling the growth of substation automation market. The increasing demand for electricity with rapid industrialization in the emerging economies of Asia Pacific is also boosting the growth of substation automation market.
North America accounted for the largest market share in 2013, which is expected to lure heavy investment and at the same time high end research is expected to be carried out in the field of substation automation. In addition, increasing demand for reduction in outrage time improving the transmission efficiency is also fuelling the growth of substation automation market. The Asia Pacific substation automation market was valued at USD 19.55 billion in 2013, and is expected to be the fastest growing substation automation market in the forecast period. Increasing demand for electricity and reduction in transmission and distribution loss is the major factor driving the growth in this segment. Apart from this, the ageing infrastructure of existing power utilities and the need to upgrade them to meet rising demand of electricity is also boosting the growth in this region.
Communication channel represented the largest substation automation segment by components in 2013. Apart from this, communication channel segment is also expected to exhibit fastest growth during the forecast period from 2014 to 2020. The rising demand for improvement in communication capabilities to communicate with remote locations in order to improve overall efficiency of power utilities is the major factor boosting the growth in this segment. Apart from this, communication channel also helps in early fault detection reducing the outrage time fuelling the demand in this segment. In terms of module, intelligent electronic device (IED) holds the largest module segment in 2013. However, communication network module is expected to have maximum growth rate in the forecast period. The increasing demand for transmission and distribution efficiency by reduction of outrage time is the major factor driving the growth in this segment. Apart from this, ageing infrastructure of existing utilities switching to automated substations is also boosting the growth in this segment.
The report segments the global substation automation market as:
Substation Automation Market, by Components:
- Recloser controller
- Programmable logic controller
- Capacitor bank controller
- Digital transducer/ Smart meter
- Load tap changer
- Communication channel
- Digital relay
Substation Automation Market, by Module:
- Communication network
- ABB, Ltd.
- Alstom S.A.
- Cisco Systems, Inc.
- Eaton Corporation Plc.
- Echelon Corporation
- GE Energy Management
- Itron, Inc.
- Schneider Electric S.E.
- Siemens A.G.
- Trilliant, Inc.
For more information visit http://www.researchandmarkets.com/research/m3s36r/substation