Digital Substations Market – Snapshot

According to a new market report published by Transparency Market Research titled “Digital Substations Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global digital substations market is expected to reach US$12,143.1 Mn by 2026. The market is projected to expand at a CAGR of 8.2% during the forecast period from 2018 to 2026. According to the report, the global digital substations market will continue to be influenced by a range of factors such as their better reliability and availability compared to conventional substations, reduced maintenance cost, and their increasing use by utilities. North America will continue to be at the forefront of global demand, with the market in the region holding bulk of the share of the global digital substations market throughout the forecast years.

Hardware module segment expected to be more lucrative

The global digital substations market is segmented by module into hardware, fiber optic communication network, and SCADA. Hardware module segment is expected to surpass US$ 7,500 Mn by 2026. Digital substations are being extensively used across all industry verticals especially across utilities and oil & gas around the globe.

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Transmission substations type segment expected to dominate the market around the globe

On the basis of type, the digital substations market is segmented into transmission substations and distribution substations. The transmission substations segment is expected to hold the major share of the total market throughout the forecast period.

Upto 220 kV voltage segment expected to expand at a significant growth rate during the forecast period

On the basis of voltage, the market is classified into Up to 220 kV, 220-550 kV, and above 500 kV. Up to 220 kV voltage segment is expected to expand at a substantial rate thanks to the increasing demand for energy from cities due to the increasing urbanization. The segment is also expected to hold the major share of the market based on voltage.

Utilities industry segment expected to be hold a large chunk of the total global digital substations market

Based on industry, the market is segmented into utilities, metal, mining, oil & gas, and transportation. In 2017, utilities held the major share of the total market owing to their widespread use in utilities.

North America to continue to hold significant share in the overall market

North America is expected to hold higher market share for digital substations during the forecast period. The growth is mainly due to the increased adoption of digital substations with the presence of well-established players across the region, especially across the U.S. and Canada. Asia Pacific which is home to many well-established players from the digital substations market is expected to emerge as the region showcasing the highest CAGR. Furthermore, Asia Pacific is witnessing high adoption of digital substations due to the increasing demand for energy to support the local manufacturing units.

Major players in the digital substations market include ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Cisco Systems, Inc., NR Electric Co., Ltd., EFACEC, and Schweitzer Engineering Laboratories, Inc.

Digital Substations Market – Overview

The “Digital Substations Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” report provides analysis for the period 2016–2026, wherein 2017 is the base year and the period from 2018 to 2026 is the forecast period. Data for 2016 has been included as historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends expected to influence the growth of the global digital substations market during the forecast period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights the key trends affecting the market on a global scale. Furthermore, region wise prominent countries/regions covered in the report includes the U.S, Canada, Germany, France, the UK, India, China, Japan, GCC countries, South Africa, and Brazil.

This report analyzes and forecasts the market for digital substations at the global and regional level. The market has been forecasted based on revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global digital substations market. It also covers the impact of these drivers and restraints during the forecast period.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global digital substations market. Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

Global Digital Substations Market: Taxonomy

This research study on the global digital substations market provides a detailed cross segment and cross country analysis based on the different segments including module, type, voltage, and industry. On the basis of module, the market is segmented into hardware, fiber optic communication network, and SCADA (Supervisory control and data acquisition). On the basis of type, the market is segmented into transmission substations and distribution substations. Based on voltage, the market is classified into Up to 220 kV, 220-550 kV, and Above 500 kV. Based on industry, the market is segmented into utilities, metal, mining, oil & gas, and transportation

Global Digital Substations Market: Research Methodology

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.

Global Digital Substations Market: Competitive Dynamics

The report covers well-established players such as ABB Ltd, Siemens AG, Schneider Electric SE, Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Cisco Systems, Inc., NR Electric Co., Ltd., EFACEC and Schweitzer Engineering Laboratories, Inc.

The global digital substations market is segmented as below:

Global Digital Substations Market, by Module

  • Hardware
  • Fiber Optic Communication Network
  • SCADA

Global Digital Substations Market, by Type

  • Transmission Substations
  • Distribution Substations

Global Digital Substations Market, by Voltage

  • Up to 220 kV
  • 220-550 kV
  • Above 500 kV

Global Digital Substations Market, by Industry

  • Utilities
  • Metal
  • Mining
  • Oil & Gas
  • Transportation

Global Digital Substations Market, by Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    •  Japan
    • Rest of APAC
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.