Substation Automation Market by Component (Reclose Controller, Programmable Logical Controller, Capacitor Bank Controller, Digital Transducer/Smart Meter, Load Tap Controller, and Communication Channel), Module (SCADA, IED, and Communication Network Techn

Substation automation is an important part of electricity transmission as it controls and provides automation functions needed to build a smarter, and more reliable power grid. Increasing demand for electricity mostly from developing countries, rise in adoption of smart grids, and need for upgradation of power networks are the major factors that drives the substation automation market. Numerous leading players focus on R&D to enhance their technical expertise and product portfolio.

Substation Automation Market Report, published by Allied Market Research, the global substation automation market was valued at $106,891 million in 2015, and is estimated to reach $154,786 million by 2022, growing at a CAGR of 5.5% during the forecast period. North America accounted for the highest revenue share in 2015, and is anticipated to maintain its dominance throughout the forecast period.

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Substations are critical part of electrical infrastructure, and substation automation market is expected to witness significant growth in the future, owing to consistent rise in demand for electricity. Increase in utilization of renewable and non-conventional energy resources, such as wind, solar, and hydel energy; expansion of power networks; and energy and cost-saving benefits of substation automation drive the market growth. Susceptibility to cyber-attacks is a major restrain for market growth.

Based on component type, substation automation market is segmented into reclose controller, programmable logic controller, capacitor bank controller, digital transducer/smart meter, load tap controller, communication channel, digital relays, and others. Communication channel segment generated the highest revenue, accounting for $22,984 million in 2015, and is expected to grow at the highest CAGR of 10.9% to reach$47,324 million by 2022.

Based on module type, the substation automation market is segmented into SCADA, IEDs, and communication network. IEDs was the highest revenue-generating segment, accounting for $82,216 million in 2015. However, SCADA segment is expected to witness a CAGR of 9.5% to reach $1,551 million by 2022.

Based on technology type, the market is segmented into Ethernet, power line communication, copper wire communication, and optical fiber communication. Copper wire communication technology was the highest revenue-generating segment, which accounted for $49,672 million in 2015. However, power line communication segment is expected to witness high growth over the forecast period at a CAGR of 8.8% to reach $13,571 million by 2022.

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Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue-generating segment, valued at $37,106 million in 2015, and is expected to reach$52,085 million by 2022, growing at a CAGR of 5.0%. However, Asia-Pacific is expected to grow at the highest CAGR of 6.1%. Europe and Asia Pacific are second and third leading region for substation automation market, respectively.

Analyst Review:

Substation automation market holds a substantial scope for growth globally. High electricity demand, increasing share of renewable energy as well as replacement of old substation units provide exclusive opportunities for growth of this market. However, no power system is complete without substations and hence most of governments are providing initiatives to setup smart grids. Major segments in substation automation module market are SCADA, IEDs, and communication networks. IEDs occupy major market share owing to their widespread availability and utilization. Substation automation market is dominated by few key players; however, ever-increasing electricity demand provides opportunities for new players once they overcome the technological barriers.

As the power sector is the key indicator of economic growth, countries are investing in strengthening their power infrastructure to meet the growing demand for electricity. Therefore, increasing electricity demand and strong government support for new power projects together with utilization of renewable energy are estimated to fuel the growth of the substation automation market in the forthcoming years. However, cyber threats are a major concern for the market growth.

Currently, communication channel is widely utilized in substation automation, followed by digital relays and programmable logic controller. Globally, the most preferred mode of communication is copper wire communication, but utilization of power line communication is increasing as it carries both data and electrical current.

LIST OF FIGURES

FIG. 1 TOP IMPACTING FACTORS
FIG. 1 TOP WINNING STRATEGIES IN THE SUBSTATION AUTOMATION MARKET (2013-2016)
FIG. 2 TOP WINNING STRATEGIES (%) (2013-2016)
FIG. 3 TOP INVESTMENT POCKETS
FIG. 4 PORTER’S FIVE FORCES ANALYSIS OF SUBSTATION AUTOMATION MARKET
FIG. 5 GLOBAL ELECTRICITY PRODUCTION, 2014 (TWH)
FIG. 6 ELECTRICITY GENERATION FROM RENEWABLES AND NON-CONVENTIONAL ENERGY RESOURCES, 2014
FIG. 7 GLOBAL SUBSTATION AUTOMATION MARKET, 2015 (%)
FIG. 8 RECLOSE CONTROLLER MARKET, Y-O-Y GROWTH RATE
FIG. 9 PROGRAMMABLE LOGIC CONTROLLER MARKET, Y-O-Y GROWTH RATE
FIG. 10 CAPACITOR BANK CONTROLLER MARKET, Y-O-Y GROWTH RATE
FIG. 11 DIGITAL TRANSDUCER/SMART METER MARKET, Y-O-Y GROWTH RATE
FIG. 12 LOAD TAP CONTROLLER MARKET, Y-O-Y GROWTH RATE
FIG. 13 DIGITAL RELAYS MARKET, Y-O-Y GROWTH RATE
FIG. 14 GLOBAL SUBSTATION AUTOMATION MARKET, BY MODULE, 2015 (%)
FIG. 15 SCADA MARKET, Y-O-Y GROWTH RATE
FIG. 16 IED MARKET, Y-O-Y GROWTH RATE
FIG. 17 COMMUNICATION NETWORK MARKET, Y-O-Y GROWTH RATE
FIG. 18 GLOBAL SUBSTATION AUTOMATION MARKET BY COMMUNICATION CHANNEL, 2015 (%)
FIG. 19 ETHERNET MARKET, Y-O-Y GROWTH RATE
FIG. 20 POWER LINE COMMUNICATION MARKET, Y-O-Y GROWTH RATE
FIG. 21 COPPER WIRE COMMUNICATION MARKET, Y-O-Y GROWTH RATE
FIG. 22 OPTICAL FIBER COMMUNICATION MARKET, Y-O-Y GROWTH RATE
FIG. 23 GLOBAL SUBSTATION AUTOMATION MARKET BY GEOGRAPHY, 2015 (%)
FIG. 24 NORTH AMERICA SUBSTATION AUTOMATION MARKET, Y-O-Y GROWTH RATE
FIG. 25 EUROPE SUBSTATION AUTOMATION MARKET, Y-O-Y GROWTH RATE
FIG. 26 ASIA-PACIFIC SUBSTATION AUTOMATION MARKET, Y-O-Y GROWTH RATE
FIG. 27 LAMEA SUBSTATION AUTOMATION MARKET, Y-O-Y GROWTH RATE

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