Digital Substation Market size is expected to reach US$ 12.33 Bn. by 2029, growing at a CAGR of 6.4% during the forecast period.
Market Overview:
This study’s purpose is to give an overview of the as well as Digital Substation Market extensive market segmentation based on segments, and geography. The report includes vital information on the market positions of the major Digital Substation companies, as well as notable industry trends and prospects.
The report also focuses on the leading industry players in the Digital Substation market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into Digital Substation Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This study examines the whole Digital Substation Market Size from a worldwide standpoint, evaluating historical data and forecasts.
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Market Scope:
The report also focuses on the leading industry players in the Digital Substation market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
Segmentation:
By Module
•Hardware
• Transformers
• Busbars
• Protection Devices
• Circuit Breakers
• Protective Relays
• Switchgears
• Interfacing Units
• Human–Machine Interfaces
• Remote Terminal Units
• Programmable Logic Controllers
• Others
• Fiber optic communication network
• Supervisory control and data acquisition
On the other hand, the high initial investment required to construct digital substations is anticipated to restrain the market's expansion.
During the projection period, the transmission digital substation segment is anticipated to expand at a CAGR of XX%.
By Voltage
• Up to 220 kV
• 220 kV to 550 kV
• Above 550 kV
The increased demand for substations from end-use industries to replace the outdated electric infrastructure is blamed for the market expansion. In order to prevent power outages caused by subpar standards, investor-owned utilities are actively modernising their transmission substations by implementing the digital systems. These elements are anticipated to accelerate the market for digital substation growth on a global scale.
By Type
• Transmission substation
• Distribution substation
The implementation of the substation with a voltage of up to 550kV is being prioritised by a number of sectors. In regions with limited space, such as urban and industrial areas, these systems are frequently used. Due to significant investments made by major companies in the utility sector, particularly in the transmission infrastructure, the 220kV to 550kV digital substation market is predicted to expand at a CAGR of XX%
By Industry
• Utility
• Metal
• Mining
• Oil Gas
• Transportation
In the global market for digital substations, the utility industry is anticipated to contribute significantly to growth. The rise in demand for renewable energy sources, such as hydro, wind, and solar, is anticipated to fuel the expansion of the global digital substation market. Due to their excellent efficiency, digital substations are widely used in the utility sector.
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Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Digital Substation market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Digital Substation industry.
• Larsen Toubro
• Emerson
• Cisco Systems Inc.
• Eaton Corporation Plc.
• General Electric
• Siemens AG
• Yamal LNG
• Tekvel
• Igrid TD
• Honeywell International Inc.
• ABB Ltd
• Schweitzer Engineering Laboratories Inc.
• NR Electric
• Cadillac Automation and Controls
• I-Tor
• Schneider Electric SE
• Locamation
• Efacec
• Tesco Automation
• NetControl
• Belden Inc
• Rockwell Automation
• Open System International
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Table Of Content For Digital Substation Market:
1. Global Digital Substation Market: Research Methodology
2. Global Digital Substation Market: Executive Summary
• Market Overview and Definitions
o Introduction to Global Digital Substation Market
• Summary
o Key Findings
o Recommendations for Investors
o Recommendations for Market Leaders
o Recommendations for New Market Entry
3. Global Digital Substation Market: Competitive Analysis
• MMR Competition Matrix
o Market Structure by region
o Competitive Benchmarking of Key Players
• Consolidation in the Market
o MA by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o South America
• COVID-19 Impact
4. Global Digital Substation Market Segmentation
• Global Digital Substation Market, by Module (2021-2029)
• Global Digital Substation Market, by Voltage (2021-2029)
• Global Digital Substation Market, by Type (2021-2029)
• Global Digital Substation Market, by Industry (2021-2029)
5. Regional Digital Substation Market(2021-2029)
• Regional Digital Substation Market, by Module (2021-2029)
• Regional Digital Substation Market, by Voltage (2021-2029)
• Regional Digital Substation Market, by Type (2021-2029)
• Regional Digital Substation Market, by Industry (2021-2029)
• Regional Digital Substation Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Digital Substation market in these regions.
COVID-19 Impact Analysis on Digital Substation Market
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Digital Substation market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Digital Substation Market Report are:
What will be the CAGR of the Digital Substation market during the forecast period?
Which segment emerged as the leading segment in the Digital Substation market?
Which are the prominent players in the Digital Substation market?
What will be the Digital Substation market size by 2027?
Which company held the largest share in the Digital Substation market?
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