(EMAILWIRE.COM, December 04, 2018 ) The substation automation and integration market was valued at USD 32.53 Billion in 2015 and is expected to reach USD 50.16 Billion by 2022, at a CAGR of 5.97% between 2016 and 2022. The base year considered for the study is 2015 and the market size has been forecasted for the period between 2016 and 2022.

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The substation automation and integration market, on the basis of module, has been segmented into intelligent electronic devices, communication networks, and SCADA systems. The market for communication networks is expected to grow at a high rate between 2016 and 2022. The market growth can be attributed to the rising demand for low-cost solar projects, which are widely used in distribution substations.

The substation automation and integration market, on the basis of offering, has been segmented into hardware, software, and services. The market for services is expected to grow at a significant rate during the in the coming years. To meet the increasing demand for electricity, the power generation companies are coming up with more number of renewable energy (solar and wind) projects.

The substation automation and integration market, on the basis of type, has been segmented into transmission substations and distribution substations. The market for distribution substations is likely to grow at a high rate in the coming years during. With the increase in demand for electricity, the demand for replacing the aging infrastructure pertaining to power delivery systems is also rising.

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The substation automation and integration market, on the basis of installation type, has been segmented into retrofit installations and new installations. The market for retrofit installations is expected to grow at a significant rate between 2016 and 2022. There is an increasing demand to upgrade conventional substations as they help in improving operational efficiency.

The substation automation and integration market, on the basis of industry, has been segmented into utility, steel, mining, oil and gas, and transportation. The market for the utility industry is expected to grow at a high rate between 2016 and 2022. The utility industry is one of the booming application areas pertaining to substation automation and integration, owing to the high demand-supply gap in energy in most of the developing and developed industries. Substation automation systems have a large scope in the utility sector as these systems are used in generating, transmitting, and distributing power. The other factors driving the growth of the market for the utility industry include the modernization of grids and installation of smart grids.

Substation automation and integration market in APAC likely to grow at a high rate during the forecast period

Several initiatives have been taken up by the Government of India to improve its power and energy sector, which supports the growth of substation automation in APAC. Plans to build renewables with an energy capacity of 175GW by 2022, several schemes organized to revive distribution in utilities, and village electrification programs, among others are some of the initiatives taken up by the Government of India.

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The major players operating in the substation automation and integration market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric (France), Eaton Corporation Plc (Ireland), Honeywell International, Inc. (U.S.), Schweitzer Engineering Laboratories, Inc. (U.S.), NovaTech LLC (U.S.), and Crompton Greaves (India).

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