Global Electric Power Distribution Automation Systems Market
Global Electric Power Distribution Automation Systems Market was valued $xx Bn in 2019 and is expected to reach $50.0 Bn by 2026, at a CAGR of xx% during the forecast period.
Global Electric Power Distribution Automation Systems Market Introduction
The term "distribution automation system" refers to a collection of intelligent processors, communication technologies, and sensors that allow for the coordination and monitoring of electric power distribution assets. The automation of electric power distribution is an important component of smart grid systems. The benefits of a distribution automation system include more efficient and reliable grid operations. The primary drivers driving the market growth are significant advancements in process automation and huge investments in energy sectors such as oil and gas.
Global Electric Power Distribution Automation Systems Market Dynamics
Intelligent gadgets and smart grid technologies have been deployed in countries all over the world to automate their power distribution networks. In the next years, these changes are projected to broaden the scope of the global electric power distribution automation systems market. The distribution networks and operations in the United States are expected to have advanced dramatically by 2030. The United States government has taken a number of initiatives in recent years to create a high-performance electricity distribution network. The American Recovery and Reinvestment Act (ARRA) of 2009, for example, provided USD 3.4 billion to the US Department of Energy (DOE) for the creation of 99 Smart Grid Investment Grant (SGIG) projects.
These initiatives are expected to focus on electric grid infrastructure reform, operational enhancement, and the gathering of impact data required for smart grid installations. The US Department of Energy (DOE) also wants to speed up grid upgrades by making it easier for present and prospective investors to analyze the costs and advantages of distribution automation systems. The Council of Europe established the 20:20:20 goal, which calls for a 20% reduction in greenhouse gas (GHG) emissions, a 20% increase in renewable energy, and a 20% increase in energy efficiency by 2020. Smart meters and the integration of dispersed generation into distribution systems are two approaches pursued by European governments to achieve this. New system architectures and innovative components are designed and validated under the European Union Research Framework initiative.
China plans to spend heavily on grid infrastructure in the future in order to increase its global influence. Wasion Group is one of China's leading providers of distribution automation systems, sophisticated metering, and energy efficiency management solutions. International markets, notably Africa, Asia, and Latin America, are a priority for the corporation.
Global Electric Power Distribution Automation Systems Market Segment Analysis
In 2019, substation automation accounted for a significant share of the market and is expected to continue to increase. The energy and power utilities are putting a lot of effort into reducing distribution and transmission losses, which has led in an increase in substation automation implementation, which is propelling the industry forward. The need for automation of distribution feeders is always rising as new technologies emerge to reduce power outages and improve the efficiency of the existing distribution system. As a result, private distribution utilities and service providers, governments, and equipment manufacturers are attempting to integrate existing technologies while also developing novel ones through R&D in order to reduce power outages and mitigate the impact of using automated distribution feeder systems.
Global Electric Power Distribution Automation Systems Market
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In 2019, the industrial application sector held the highest market share. This can be attributed to the growing demand for distribution automation technologies to be installed in utilities throughout the world in order to improve grid efficiency. Over the forecast period, increased demand for electric power distribution automation systems in industrial sectors such as utilities, marine, oil & gas, and mining & minerals is expected to drive the market growth. The need to replace outdated transmission and distribution power infrastructure is boosting demand for electrical utilities to upgrade their power infrastructure in the Asia Pacific region. In nations like China and India, plans to build smart cities are expected to increase demand for an endless supply of power.
Global Electric Power Distribution Automation Systems Market Regional Insights
Global Electric Power Distribution Automation Systems Market 1
North America held the largest market share in 2019 and accounted for over XX% of the revenue share. However, Asia Pacific is expected to be the fastest-growing market and is anticipated to grow at a CAGR of over xx% during the forecast period. The need for electric power distribution automation systems is expected to be fueled by an increase in the number of production facilities, as well as the rapid growth of the industrial sector in the Asia Pacific.
In addition, the increasing relevance of automation across a variety of end-use sectors is expected to drive demand in the near future. Latin America, the Middle East, and Africa is also projected to make significant investments in the industry due to the benefits are given by distribution automation solutions.
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Global Electric Power Distribution Automation Systems Market 2
Global Electric Power Distribution Automation Systems Market, by Region
• North America
• Europe
• South America
• MEA
• Asia Pacific
Global Electric Power Distribution Automation Systems Market Key Players
• ABB Group
• Eaton Corporation
• Elster Solutions
• G&W Electric Company
• Hubbell Power Systems
• Mitsubishi Electric Corporation
• Schneider Electric
• Siemens AG
• GE Corp.
• S&C Electric Co
• Atlantic City Electric Co
• General Electric
• Itron, Inc.
• Schweitzer Engineering Laboratories
• GE Grid Solutions
• Hitachi Powergrids
• Others
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