Electrical Substation Management Market Growth Estimated USD 1,565.45 million with a CAGR of 11.1% By Technology, Component, Services and Developments

Electrical Substation Management Market Research Report and Growth Analysis 2022 by Component (Hardware, Software, Services), Application (Generation Substations, Transmission Substations, And Distribution Substations), Sources (Non-Renewable and Renewable), Verticals (Utilities (Public Utility And Private Utility), Steelworks, Oil & Gas, Transportation, and Others), And Region (North America, Europe, Asia-Pacific, Middle East & Africa, And South America)—Forecast Till 2030

Electrical Substation Management Market Overview

According to the research reports by MRFR, the global market for electrical substation management is anticipated to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 11.1%. The report further anticipates the market to attain a size of around USD 1,565.45 million by the end of 2030.

The global market for electrical substation management has shown massive expansion in recent times owing to the aspects such as rising stringent critical infrastructure protection standards, uninterrupted electricity, rising renewable energy projects, and increased competitiveness of battery storage.

Competitive Analysis

The catalog for leading participants across the global market for electrical substitution management includes players such as,

• Igrid T&D
• Sentient Energy Inc
• Schweitzer Engineering Laboratories Inc
• ABB Ltd
• Aclara Technologies LLC
• General Electric Company
• Eaton Corporation Plc
• Tarigma Corporation
• Tekvel
• Subnet Solutions INC.
• Schneider Electric
• Novatech LLC
• Omicron
• IPS Energy
• Siemens AG
• Kalkitech
• and among several others.

Request for Free Sample Pages: https://www.marketresearchfuture.com/sample_request/10968

Electrical Substation Management Market Segment Analysis

The global market for electrical substitution management has been segregated into segments based on vertical, component, region, sources, and application.

Based on components, the global market for electrical substitution management is divided into services, software, and hardware.

Based on the application, the global market for electrical substitution management is fragmented into distribution substations, transmission substations, and generation substations.

Based on the source, the global market for electrical substitution management is divided into renewable and non-renewable.

Based on the vertical, the global market for electrical substitution management is split into transportation, oil & gas, steelworks, utilities, and others.

Based on the utility, the global market for electrical substitution management is divided into private and public utilities.

Electrical Substation Management Market Regional Analysis

The global market for electrical substitution management is analyzed across five major regions: North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

According to the research reports by MRFR, the Asia-Pacific region secured the top position across the global market for electrical substitution management in the year 2020 with the most significant contribution of approximately USD 193.21 Million. The report further anticipates the regional market to thrive considerably at a healthy growth rate of approximately 13.4% during the review timeframe. The region is the biggest electricity-generating and consuming continent with significant growth in demand, which is considered to be the primary aspect causing an upsurge in the regional market’s growth. Furthermore, factors such as the installed capacity of renewable energy, significant production of electricity, and rising automation among the substations are also likely to catalyze the regional market’s growth over the coming years.

The North American regional market for electrical substitution management secured the second spot globally in 2020 with a valuation of around USD 163.41 Million. According to the reports, the regional market is anticipated to flourish considerably at a healthy growth rate of around 8.3%. The primary parameter supporting the regional market’s growth is cybersecurity and compliance with the NERC CIP standards. The region has the US as the leading growth contributor. The nation is known to be the second-largest electricity producer across the globe. As per the US Energy Information Administration, around 4,116 billion kilowatt-hours (kWh) of electricity were produced at utility-scale electricity generation facilities in the United States in 2021. Furthermore, the increased government initiatives toward smart grids are another prime aspect causing an upsurge in the regional market’s growth. The growing electricity demand and the raised electrification are also predicted to catalyze the regional market’s growth over the coming years.

Ask for an Amazing Discount: https://www.marketresearchfuture.com/check-discount/10968

Recent Developments

• November 2022- A leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, Iris Energy Limited, has published a monthly investor update for October 2022, comprising its results from operations and development as well as construction updates.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 17

1.1 MARKET ATTRACTIVENESS ANALYSIS 18

2 MARKET INTRODUCTION 19

2.1 DEFINITION 19

2.2 SCOPE OF THE STUDY 19

2.3 RESEARCH OBJECTIVE 19

2.4 MARKET STRUCTURE 20

3 RESEARCH METHODOLOGY 21

4 MARKET DYNAMICS 27

4.1 INTRODUCTION 27

4.2 DRIVERS 28

4.2.1 THE STRINGENT REGULATORY STANDARDS ARE EXPECTED TO BE THE MAJOR GROWTH DRIVER 28

4.2.2 RISING AUTOMATION ACROSS THE ELECTRIC GRID INFRASTRUCTURES 28

4.2.3 RISING USE OF DIGITAL TECHNOLOGY TO IMPROVE GRID EFFICIENCY AND REDUCE RISKS 28

4.3 RESTRAINT 30

4.3.1 CYBER-ATTACKS ARE EXPECTED TO POSE MAJOR HINDERANCE TO THE GROWTH OF THE MARKET 30

4.3.2 RESTRAINT IMPACT ANALYSIS 30

4.4 OPPORTUNITY 30

4.4.1 INCREASING RENEWABLE ENERGY PROJECTS ARE EXPECTED TO OPEN LUCRATIVE REVENUE STREAMS FOR THE MARKET DURING THE PROJECTED PERIOD 30

4.4.2 GROWING NUMBER OF ELECTRICITY GENERATION PROJECTS ACROSS THE DEVELOPING NATIONS 31

4.5 IMPACT OF COVID ON THE MARKET 31

4.5.1 IMPACT ON SUBSTATION AUTOMATION ADOPTION 31

4.5.2 IMPACT ON ELECTRICITY GENERATION PROJECTS 31

4.5.3 IMPACT ON VERTICALS 31

4.5.4 YOY GROWTH 2020-2022 32

4.6 REGULATORY FRAMEWORK 32

5 MARKET FACTOR ANALYSIS 34

5.1 VALUE CHAIN ANALYSIS 34

5.1.1 SOFTWARE DESIGNERS & DEVELOPERS 34

5.1.2 SYSTEM INTEGRATORS 34

5.1.3 END USERS 34

5.2 PORTER’S FIVE FORCES MODEL 35

5.2.1 THREAT OF NEW ENTRANTS 36

5.2.2 BARGAINING POWER OF SUPPLIERS 36

5.2.3 THREAT OF SUBSTITUTES 36

5.2.4 BARGAINING POWER OF BUYERS 36

5.2.5 INTENSITY OF RIVALRY 36

…Continued.

Other Related Reports:

Substation Batteries Market Research Report: Information by Type (Lead Acid Batteries (Sealed Batteries & Vented Batteries) and Nickel Cadmium Batteries), and Region (APAC, Europe, North America, South America, and Middle East & Africa) – Forecast till 2030

Digital Substation Market Report by Module (Hardware, Fiber Optic Communication Network and SCADA), by Type (Transmission Substation, and Distribution Substation), by Voltage (Up to 220 kV, 220-550 kV, and Above 550 kV), by Industry (Utility, Metal, Mining, Oil & Gas and Transportation) and by Region – Global Forecast to 2030

Substation Monitoring Market Research Report: Information by Component (Hardware & Software), Communication Technology (Wired & Wireless), Sector (Transmission & Distribution), Industry (Utility, Mining, Steel, Oil & Gas, and Transportation), and Region – Global Forecast till 2030

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Website: https://www.marketresearchfuture.com

Tags: Electrical Substation Management Market trends, Electrical Substation Management Market, Electrical Substation Management Market technology, Electrical Substation Management Market companies, Electrical Substation Management Market share, Electrical Substation Management Market growth See Campaign: https://www.marketresearchfuture.com/reports/electrical-substation-management-market-10968

Contact Information:

Contact: Market Research Future® 99 Hudson Street,5Th Floor New York, New York 10013 United States of America  Phone: +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com

Tags:
Wire, Research Newswire, English