+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Digital Substation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Pre Book Price: $ 5216

Original Price: $ 5795

Industrial development has increased digitalization in many sectors. Innovation in the digitization market is not only related to the invention of new products, but also upgrades of the available products and technologies. One such innovation is digital substations. Substations are the part of electrical generation, distribution, and transmission systems. They transform current from high voltage to low voltage and low voltage to high with the help of transformers. Digital substations comprises the introduction of intelligence into the substation systems. The transformation of the power generation from a wired to an optical network is the reason for the evolution of digital substations. Also, it is a stable supply system for power generation. Digital substations are governed by the International Electrotechnical Commission (IEC)  code IEC 61850. Process level, bay level, and station level are the three major functional levels of digital substations. Signals are transmitted from the process work station. The system protection and control processes are performed in the bay level work station. At the station level, the engineering and report activities are performed. An optical coherence tomography (OCT) is used to build the digital substations, which requires a lot less space than the analogue substations. Digital substations provide enhanced measurement accuracy and recording of the generated information. With the installation of digital substations, a substantial amount of material cost reduction can occur as fewer cables and less space are required. The maintenance of digital substations is easier than that of traditional substations due to the integrated standardized interface. The integration of advanced technology and innovative practices such as the use of Ethernet in digital substations has increased the security system of digital substations.

Intelligent electronic devices (IED), generic object-oriented substation event (GOOSE), station and process bus, global positioning system (GPS), time clock, merging units, electronic fiber optic coherence tomography (CT), and voltage transformers (VT) are the key components of digital substations. Growing emphasis on the replacement and redevelopment of aging infrastructure is one of the primary drivers of the digital substation market. Grid transition in communication and energy is also driving the market. The increasing demand for reliable power supply system is another reason for the growth of the digital substation market. The installation of digital substation requires high initial investment, which might restrain its expansion. Many companies have adapted the phase-wise installation of digital substations to tackle the budget constraints of installation. Also, in the long run digital substations could reduce cost and increase efficiency. Rapid industrialization in many emerging countries is one of the investment opportunities seen in the digital substation market. 

The digital substation market can be divided into two types: transmission substations and distribution substations. Voltage segments of the digital substation market are 66kV, 66kV to 220kV, 220Kv to 550kV, and 550kV and above. Digital substations use different types of modules, such as hardware (transformers, condition monitoring system, protection device, bus bars and others), fiber optics communication, and supervisory control and data acquisition (SCADA). Utilities, metals, and mining are the major end-use industries of the digital substation market. 

Leading players present in the digital substation market are ABB Ltd., Honeywell International Inc., Emerson Electric, Siemens AG, Larsen & Toubro Limited, NR Electric Co., Eaton Corp., Schneider Electric SE, Cisco systems, Inc., and General Electric Company. 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.   


Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.


To receive discount, please click on the button below.

Please click on the button below to customize this report.

 
 
Back To Top