The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the Digital Substation Market include:
• General Electric Company
• Siemens AG
• Cisco Systems Inc
• Honeywell International Inc
• ABB
• Larsen & Turbo Limited
• Emerson Electric
• Yamal LNG
• Eaton Corporation Plc
• NR Electric Co. Ltd.
Key Drivers of the Digital Substation Market:
The primary factors propelling the growth of the global digital substation market include strong electricity demand, the rapid expansion of smart grid networks, and rising demand to replace traditional substation technology worldwide. It has been observed that the life span of grid infrastructure is between 38-52 days. Post this period, the infrastructure is affected by different cosmic breakdowns including, fraying wiring and loosening screws. For example, in April 2017, power outages took place around the U.S., where in New York, Los Angles, and San Francisco are the primarily affected areas. In the outage, each area experienced infrastructural problems such as communication networks, supply chains, mass transportation, and shut down in business commerce, has resulted in a huge monitory loss. Thus, to eliminate such risks, businesses are increasing digital substation technology as it provides shorter installation time, high-performance digital sensors, and durability.
According to the digital substation market report, rapid development in renewable energy projects such as wind and solar creates growth opportunities for the digital substation market at a global level. On the other hand, the initial investment in digital substation technology is higher than traditional substation technology, which is hampering the global digital substation market's growth.
Segmentation of the Digital Substation Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of module, this report displays the production, revenue, price, market share, and overall growth rate of each module, primarily split into:
• Hardware
o Transformers
o Busbars
o Protection Devices
Circuit Breakers
Protective Relays
Switchgears
o Interfacing Units
Human-Machine Interfaces
Remote Terminal Units
Programmable Logic Controllers
o Others
• Fiber Optic Communication Network
• SCADA Systems
On the basis of type, this report displays the production, revenue, price, market share, and overall growth rate of each type, primarily split into:
• Transmission Substation
• Distribution Substation
On the basis of voltage, this report displays the production, revenue, price, market share, and overall growth rate of each voltage, primarily split into:
• Up To 220 KV
• 220-550 KV
• Above 550 KV
On the basis of industry, this report displays the production, revenue, price, market share, and overall growth rate of each industry, primarily split into:
• Utility
o Non-Renewables
o Renewables
• Metal
• Mining
• Oil & Gas
• Transportation D
On the basis of region, this report displays the production, revenue, price, market share, and overall growth rate of each region, primarily split into:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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