Substation Automation Market worth $122.94 Billion by 2018
DALLAS, October 24, 2013 /PRNewswire/ --
According to a new market research report of "Substation Automation and Integration Market By Components - IEDS (RTU, PLC, Digital Protection Relay, Smart Meters), Communication Technology (Optical Fiber, PLC, Copper Wire, thernet), SCADA & Geography (2013 - 2018)", published by MarketsandMarkets is expected to grow at a CAGR of 5.2% from 2013 to 2018 and reach $122.94 billion in 2018.
Browse 92 market data tables with 25 figures spread through 272 pages and in-depth TOC on "Substation Automation and Integration Market"
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Substation automation has become an essential need for power companies and utilities pertaining to the growing demand of energy globally. Substation Automation Market is seen to be growing substantially; it inculcates advanced communication and control technologies. This market is driven by various factors with grid efficiency being its major driver as the government regulations and cost saving prepositions is propelling utilities to deploy automation. The report covers the present market scenario and forecast market in revenue by considering all the factors and stakeholders affecting the substation automation. The report covers the transmission and distribution automation which are the main types of substation automation.The transmission automation is leading this market; the reason being its critical components and high cost equipment in the transmission substations that need automation for reducing transmission losses and increasing transmission efficiency.
The major driving factors for the Substation Automation Market are the grid efficiency & reliability, cost saving, reduction in transmission and distribution loss and others. In the report different IEDs used in substation automation are discussed like RTUs, programmable logical controller, digital transducer/smart meter, digital protection relays, voltage controls, capacitor bank controls, and Recloser controls.
The overall Substation Automation Market is segmented into four major segments namely: IEDs, communication technology, SCADA and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report.Global substation automation market is expected to reach $122.94 billion by 2018, at an estimated CAGR of 5.2% from 2013 to 2018.
This report describes the overall market into four major geographical segments, namely, North America, Europe, APAC, and ROW. North America is the market leader in the overall substation automation market; followed by Europe and APAC. In ROW, the Middle East, and Africa are the largest contributors.
The major companies involved in the Global substation market which are also profiled in the report are ABB (Switzerland), Alstom (France), General Electric (U.S.), Schweitzer Engg Lab (U.S.); Siemens (Germany), Cooper power Systems (U.S.), NovaTech (U.S.) and so on.
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