Global Digital Substation Market: Market Research by Knowledge Sourcing Intelligence


The Significance And Importance Of Digital Substation Market



The incorporation of intelligent electronic devices (IEDs) with a communication network is transforming the analogous system of substation in the energy and power industry. The technical advancement has led the electrical system for digitization, resulting in implementing digital substations over traditional substations.

Market Drivers and Restraints

The digital substation market is expected to see substantial growth owing to the rising usage of smart grid technology, redevelopment of the older power infrastructure, construction of smart cities and favorable government initiatives, such as “National Smart Grid Mission” in India, building varying voltage level substation in Qatar with the help of Larsen & Toubro. In addition, reduced maintenance, flexibility and better electric system protection are some additional benefits that are further fueling the demand for the digital substation market. However, the high initial investment will hinder the growth of the digital substation market.


Market Segmentation

The global digital substation market is segmented in terms of type, voltage level, module, end-user, and geography. By type, the market is classified as transmission substation and distribution substation. By voltage type, the market is classified as up to 220KV, 220-550KV, and above 550KV.
By module, the market is classified as hardware, fiber optic, and SCADA. The digital substation market analysis shows that the real-time operation in the national power grid is demanding more installation of digital substations in SCADA based systems than other modules of digital substations.
By end-user, the market is classified as an electric utility, oil and gas, mining, transportation, metal, and others. The electricity utility segment accounts for the highest digital substation market share because the electric utility is increasingly replacing the traditional equipment in substations. This has resulted in a higher demand for digital substations in the electric utility system in comparison with other end-user industries.
By geography, the market is classified as North America, South America, Middle East and Africa, Europe, and The Asia Pacific. The North America region holds a substantial market share owing to higher adoption of digital substations in the U.S. and Canada and the availability of cheaper digital substation systems in the region. The Asia Pacific region is projected to see a noticeable growth due to rapid industrialization, high investment in the renewable sector, growing urbanization, expansion of power distribution network in countries such as India, China and Singapore. In addition, the rising cost of electricity, increasing nature of power demand and favorable government initiatives are further driving demand for the digital substation in this region leading towards the growth of the digital substation market size in the future period.

Key Players

The key players in the industry research conducted by Knowledge Sourcing Intelligence are ABB Ltd, Siemens AG, Honeywell International Inc, Schneider Electric SE, Eaton Corporation, General Electric Company, Emerson Electric Co., and Larsen & Toubro Limited, among others.
Key questions answered in the report:
·         What has been the performance of Digital Substation Market and how it will perform in the future?
·         What are the key players in the target market study?
·         What are the various segments on which the market research is conducted?
·         What are the driving factors that are leading to the growth of the market?
·         What are the recent developments happening in the industry?
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