Selbyville, Delaware, Aug. 06, 2019 (GLOBE NEWSWIRE) --
Electric substation segment of digital substation market has been majorly influenced by various government guidelines & mandates, which have led certain standards subject to the manufacturing and deployment of the product. In the recent years, off-grid areas have been a focus of installers and regulators as these units hold significant potential for industry growth. Moreover, increasing energy demand influenced by positive consumer inclination to incorporate a sustainable electricity infrastructure will complement the overall digital substation market.
Manufacturing & process industries in the current scenario are playing a pivotal role across certain regions for investments & revenue realization. Developed economies have observed significant dependence on manufactured & processed products which in turn have streamlined utility and installer preferences toward the expansion of efficient electrical infrastructure. Moreover, increasing mining & metal extraction globally have led to substantial rise in demand for electrical network to validate process reliability and continuous operations.
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Global Digital Substation Market is set to surpass USD 13 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Advancing product specifications coupled with the demand for safe and reliable electrical networks across residential, commercial, industrial and utility establishments will foster the digital substation market growth. In addition, allied government initiatives and updates favored by standard product configurations for installers and consumers have energized the industry potential. Furthermore, regional inclination toward the incorporation of sustainable electricity networks and electrification across stand-alone grid infrastructure have integrated a favorable business scenario. Henceforth, favorable economic proximities along with regulatory assistance toward development of sustainable electrical infrastructure will complement the industry outlook.
Indian market is predicted to exceed USD 600 million by 2025. Developing countries including India are considered as favorable markets as they continue to augment prevailing network and power capacities to meet the soaring electricity demand. Rising measures toward grid safety, security & reliability have substantially raised the demand for sustainable product deployment. The Government of India, in 2016, introduced “One Nation-One Grid” program to link all state grids to achieve a single tariff infrastructure throughout the nation.
Browse key industry insights spread across 590 pages with 1085 market data tables & 38 figures & charts from the report, “Digital Substation Market Size By Component (Substation Automation System, Communication Network, Electrical System {Transformer, Busbar, Protection Devices [Circuit Breaker, Protective Relay, Switchgear]}, Monitoring & Control System {Human Machine Interface, Programmable Logic Controller, Others}, Others), By Architecture (Process, Bay, Station), By Application (Transmission, Distribution), By Connectivity (< 33 kV, 33 kV to 110 kV, 110 kV to 220 kV, 220 kV to 550 kV, > 550 kV), By Voltage Level (Low, Medium, High), By End Use (Utility, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Spain, Italy, UK, Austria, Netherlands, Sweden, Russia, Belgium, Denmark, Switzerland, China, India, Japan, South Korea, Australia, Indonesia, Philippines, New Zealand, Malaysia, Thailand, Singapore, Saudi Arabia, UAE, Qatar, Kuwait, Turkey, South Africa, Brazil, Chile) Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/digital-substation-market
The industry in the recent years, has gained significant upsurge on account of rising concerns related to fire, health, electrical supply faults, and other operational threats. Lack of efficient electrical network across emerging regions coupled with paradigm shift toward the development of existing infrastructure has integrated a favorable business scenario. Moreover, advancing product portfolios in line with the major industry participants undertaking mergers and acquisitions as a strategic implication will propel the industry landscape.
Prominent digital substation market participants include Beijing Sifang Automation Co., Open System International, Guodian Nanjing Automation Co, L&T, Rockwell Automation, Cisco, Siemens, Schneider, Eaton, GE, Emerson Electric, NR Electric, Belden Inc, Texas Instruments, Tesco Automation, NetControl, Efacec, Locamation and ABB.
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