Substation Automation Market 2023-2030 | Industry Analysis by Size, Share, Consumption, Regional Outlook, Key Players with Projected Revenue of 62.5 Billion at CAGR of 6.3% by 2030

Substation automation is an integrated electrical power system that monitors and controls electrical outputs and prevents outages. This highly competitive market is projected to reach a staggering valuation of USD 62.5 billion by 2030.

Dubai, UAE, March 06, 2023 (GLOBE NEWSWIRE) -- As per the latest research report published by Extrapolate, the global Substation Automation Market is slated to attain USD 62.5 billion by 2030 from USD 39.9 billion in 2021, recording a staggering CAGR of 6.3% during the projection period.

According to Extrapolate researchers, the substation automation market is poised for significant growth driven by several factors. Firstly, the increasing demand for conventional substations, coupled with the use of advanced technologies to improve grid efficiency in smart cities, is expected to fuel market expansion. Secondly, the rising popularity of hybrid and electric vehicles and the need to address interoperability issues are also key drivers of market growth. Finally, the expanding use of data centres to support digital activities is further contributing to market expansion.

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Gary Lawrence, the President of Schneider Electric, believes that the changing energy landscape presents an opportunity for utilities to reinvent their business models. By embracing digital transformation and securing infrastructure Investment and Jobs Act (IIJA) funds, utilities can unlock new revenue streams and enhance both the supply and demand sides of the energy equation. Rather than being a barrier, the shift towards a digital energy economy presents a chance for utilities to evolve and thrive in a rapidly changing market.

Key Insights

  • By module, the SCADA segment is anticipated to retain its dominance.
  • The ethernet segment is expected to retain its dominance in the global substation automation market by application.
  • North America leads the global substation automation market.
  • The market's competitive landscape is fragmented, with large-scale manufacturers controlling a substantial share of the market.

Competitive Landscape of the Global Substation Automation Market

The global substation automation market is fragmented, with large-scale manufacturers controlling a substantial share of the market. Leading market players are making significant investments in R&D activities to expand their product portfolios, which will promote further market growth for substation automation. With significant market developments, including introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their global footprint.

In order to grow and thrive in a highly competitive and expanding market environment, competitors in the substation automation market must provide affordable products. One of the primary business strategies employed by manufacturers in the global substation automation market is to assist customers and reduce operational costs.

For instance, Relion relays from ABB helped Enel automate and optimize power distribution operations in September 2021. The frequency of power failures and downtime can be decreased with the use of Relion protection relays. It is anticipated that a 20% reduction in isolation time will be made for the problematic network component. Relays are designed for digital substations to improve operational safety and can exchange data across a communication network.

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Comprehensive Competitive Analysis of the Substation Automation Market:

  • ABB Ltd.
  • Trilliant Holdings Inc.
  • Schneider Electric
  • Cisco Systems, Inc.

Capitalizing on Module-Specific Opportunities:

  • IED
  • Communication Network Technology

SCADA is Expected to Grow at a CAGR of 6.3% of the Substation Automation Market

In the last few years, the SCADA segment has experienced rapid growth and is also projected to keep the momentum going as it offers unparalleled efficiency and safety benefits to operators. With remote access and control of subsystems, operators can manage operations from anywhere, reducing the need for on-site personnel and increasing productivity. Moreover, the segment is experiencing strong growth as it provides comprehensive data analysis and reporting capabilities, empowering operators to identify and address potential issues before they become major problems. With easy maintenance and updates, SCADA systems are a cost-effective solution for businesses looking to streamline their operations and reduce expenses over the long term.

The SCADA segment is anticipated to record 6.3% through 2030 due to improved reliability, increased customer satisfaction, and enhanced utilization across numerous end-user industries. Furthermore, increased implementation and rising demand are expected to drive growth in the food and beverage, gas, recycling, transportation, water and wastewater, and pharmaceutical industries.

Deeper Insights into Application:

  • Ethernet
  • Power Line Communication
  • Copper Wire Communication
  • Optical Fiber Communication

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Ethernet Segment to Retain Dominance in the Global Substation Automation Market

With the increasing demand for advanced substation automation systems, Ethernet has emerged as the preferred choice for networking technology due to its superior capabilities. It provides fast and secure communication between different devices, making it ideal for transmitting high volumes of data and critical information in real time.

In addition to reliability, cost-effectiveness, and flexibility, Ethernet offers superior bandwidth and low latency, essential for high-performance substation automation systems. It enables seamless integration of different devices, such as protection relays, meters, and controllers, to create a unified automation system.  Moreover, ethernet networks can be easily monitored and managed, ensuring optimal performance and minimizing downtime. With the ability to support advanced protocols such as IEC 61850, Ethernet enables efficient and reliable communication between different components of the substation automation system.

As the demand for more advanced and interconnected substation automation systems continues to grow, Ethernet will remain a critical component of the underlying infrastructure. Its ability to provide fast, secure, and reliable communication between different devices makes it an indispensable technology for the efficient and effective operation of modern substations.

Regions Covered in the Report:

  • North America- U.S., Mexico, Canada
  • Europe- UK, France, Germany, Italy, Spain, Rest of Europe
  • Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
  • South America- Brazil, Argentina, Colombia, Rest of South America
  • The Middle East and Africa- GCC, South Africa, Rest of the Middle East & Africa 

North America is Anticipated to Dominate Global Substation Automation Market

North America is anticipated to dominate the substation automation market owing to the increasing popularity and penetration of advanced technologies such as electronic devices and communication devices. The region is home to substation automation since it has a highly developed electrical power system and a rich heritage of investing in cutting-edge technologies. The regional market is distinguished by a strong emphasis on innovation and a dedication to enhancing the power supply's effectiveness, dependability, and safety.

Furthermore, Europe is projected to witness the highest growth over the forecast period owing to the increasing demand for smart grids and the rising adoption of renewable energy. Additionally, in order to meet product demand, EU policies have promoted the growth of decentralized electricity generation, electric vehicles, and energy storage. As a result, the European substation automation market is anticipated to grow substantially throughout the forecast period.

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Major Points from Table of Content:

Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Substation Automation Market
Chapter 5. Global Substation Automation Market Overview, By Module, 2017 - 2030 (USD Million)
Chapter 6. Global Substation Automation Market Overview, By Component, 2017 - 2030 (USD Million)
Chapter 7. Global Substation Automation Market Overview, By Application, 2017 - 2030 (USD Million)
Chapter 8. Global Substation Automation Market Overview, By Geography, 2017 - 2030 (USD Million)
Chapter 14. Competitive Landscape
14.1. Competitive environment, 2021
14.2. Strategic Framework
14.2.1. Partnership/agreement
14.2.2. Expansion
14.2.3. Mergers & Acquisitions
14.2.4. New Size development

Chapter 15. Key Vendor Analysis
15.1. ABB Ltd.
15.1.1. Company overview
15.1.2. Financial performance
15.1.3. Product Benchmarking
15.1.4. Recent initiatives
15.1.5. SWOT analysis
15.2. Trilliant Holdings Inc.
15.2.1. Company overview
15.2.2. Financial performance
15.2.3. Product Benchmarking
15.2.4. Recent initiatives
15.2.5. SWOT analysis
15.3. ALSTOM
15.3.1. Company overview
15.3.2. Financial performance
15.3.3. Product Benchmarking
15.3.4. Recent initiatives
15.4. Schneider Electric
15.5. Cisco Systems, Inc.

Chapter 16. Sourcing Strategy and Downstream Buyers
16.1. Substation Automation Market Industrial Chain Analysis
16.2. Downstream Buyers

Chapter 17. Marketing Strategy Analysis, Distributors/Traders
17.1. Marketing Channel
17.1.1. Direct Marketing
17.1.2. Indirect Marketing
17.1.3. Marketing Channel Development Trend
17.2. Market Positioning
17.2.1. Pricing Strategy
17.2.2. Brand Strategy
17.2.3. Target Client
17.3. Distributors/Traders List

Chapter 18. Market Effect Factors Analysis
18.1. Product Progress/Risk
18.1.1. Substitutes Threat
18.1.2. Product Progress in Related Size
18.2. Consumer Needs/Customer Preference Change
18.3. Economic/Political Environmental Change
…TOC Continued

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Substation Market is expected to reach USD 181.3 billion by 2030, with a CAGR of 4.4% during the forecast period. With the rapid increase in global power consumption, economic growth, population expansion, industrialization, and rising living standards, substation automation is crucial for successful power generation, transmission, and distribution.

SCADA Market was estimated at USD 9200.00 million in 2021 and is projected to reach USD 15360.00 million by 2028, exhibiting a CAGR of 7.60% during the forecast period. The research on the SCADA market focuses on providing valuable data on investment pockets, growth opportunities, and major market players to help customers understand the process.

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