Digital Substation Market with Covid-19 Impact Analysis by Module (Hardware, Fiber-Optic Communication Networks, and Scada Systems), Type (Transmission and Distribution), Voltage, Installation Type, Industry, and Region - Global Forecast to 2025
[199 Pages Report] The digital substation market is projected to reach USD 9.1 billion by 2025 from USD 6.4 billion in 2020; it is expected to grow at a CAGR of 7.1% during the forecast period.
The growth of the market can be attributed to growing infrastructure development in smart cities, increasing power demand with limited space availability, increasing demand for replacing traditional substation infrastructure, and increasing interoperability and safety. Rising demand for renewable energy projects and for battery technology to generate electricity is creating ample growth opportunities in the market.
Impact of COVID-19 on Digital Substation Market:
COVID-19 has resulted in a global economic crisis and has severely affected various industries. Manufacturing units have been shut down due to the unavailability of labor and raw materials. This has resulted in a huge gap between supply and demand. Further, restrictions have been placed on foreign trade due to the lockdown of international borders and non-operational distribution channels. Globally, demand for power demand from industrial & commercial businesses has dropped due to COVID-19 as they are closed due to lockdowns. Additionally, digital substation projects were put on hold owing to this outbreak. Therefore, the market for digital substations is expected to decline in 2020. Some countries, especially in Europe and APAC, are about to lift their lockdown, and projects are expected to resume. Globally, the overall situation is expected to normalize by the end of 2020.
Market Dynamics:
Driver: Investments in smart cities and smart grid infrastructure development
In the power industry, the discussion of smart cities revolves around smart buildings, smart energy, and smart meters. A smart city is enabled with multiple hardware and software systems, which communicate with each other to deliver data in real time. Energy generation and transmission are carried out by the use of technology. Utilities have long been dependent on workers to read meters, examine equipment, and manage the daily operations of the electrical grid. Today, utility systems use smart meters to monitor status across the grid, accessing consumption data in homes, connecting with substations to manage load distribution, and analyzing demand curves and production forecasts to balance renewable generation with traditional power sources. A digital substation is a critical part of the entire distribution system. As every device in the substation is upgraded to communicate using digital signals, substations are connected with fiber-optic communication networks.
Restraint: High initial set-up costs associated with digital substations
Technological advancements in the transmission infrastructure segment are expected to play a vital role in efficient network upgrade and expansion. This is expected to help in meeting the government’s objective of 24×7 power for all, maintaining a congestion-free transmission network and ensuring grid stability. Because of this technological advancement, the initial cost required for setting up a digital substation is high. This is due to the increased number of intelligent electronic devices (IEDs) used in substations, which increases the purchase cost of substations. The increasing use of technologies such as the microprocessor and service-oriented architecture (SOA) technologies, as well as the rise in the number of embedded IEDs in substations, have increased the purchase costs of these substations.
Opportunity: Rising demand for renewable energy projects
The renewable energy industry is primed to enter a new phase of growth driven largely by increasing customer demand, cost competitiveness, innovation, and collaboration. The renewable energy sector saw significant demand in different markets. One of the major factors driving the growth of renewable energy projects is the declining generation cost of renewable energy sources, rising capacity factors of renewable energy sources, and increased competitiveness of battery storage. Moreover, concerns over a carbon-constrained future have also increased the focus of companies on renewable energy projects. According to the International Energy Agency (IEA), the generation of renewable energy is expected to expand by 50% in the next 5 years.
Challenge: COVID-19 negatively impacted renewable energy sector
COVID-19 is having an especially negative impact on the renewables sector. One of the main problems is related to the delivery of equipment to power plants. China was majorly impacted due to COVID-19 and is the main global producer of many clean energy technologies, such as solar panels, wind turbines, and batteries. Since COVID-19 has delayed deliveries from China, renewable energy companies are not able to comply with deadlines for equipment installation. For instance, in India alone, 3,000 MW of solar and wind energy projects face delays due to the lockdown. BYD (China), the world’s leading producer of rechargeable batteries, was unable to complete tests of new models of rechargeable batteries due to the pandemic, and this has led to a reduction in delivery volumes of rechargeable batteries for the European market.
Based on industry, the utility segment held the largest share of the digital substation market in 2019.
The utility industry is responsible for the generation, transmission, and distribution of electricity. Electric utilities include investor-owned, publicly-owned, cooperatives, and nationalized entities, which are the major providers of electricity in most of the countries worldwide. Utilities cover the largest segment of the market. Digital substations are used for the transmission and distribution of electricity. High voltages are required for several processes such as the arching and heating of metals, and extraction and processing, in industries such as metals, mining, oil & gas, and transportation. Digital substations are also used as distribution substations, which help in decreasing the incoming high voltage from long distances to a lower voltage for distribution. However, the distribution market for the digital substation is still limited.
The transmission segment projected to account for a larger size of the digital substation market during the forecast period.
Transmission substations integrate transmission lines with networks having multiple parallel interconnections so that that power can be transmitted easily over long distances from any generator to any consumer. These transmission grids are often called bulk power systems. Transmission substations connect two or more transmission lines with the same voltages. These substations contain high-voltage switches that allow lines to be connected or isolated, in case of any fault or maintenance activity taking place in transmission lines.
Asia Pacific (APAC) is projected to be the fastest-growing market for digital substation, in terms of electricity consumption and rural electrification. The modernization of industrial infrastructure in APAC is growing at a high rate for a few years, and the same trend is expected to continue in the future. The digital substation market in this region is expected to grow at the highest rate among all other regions due to rapid industrialization, modernization of grid infrastructure, and entry of many private companies in the power sector, increased spending by governments to boost the utility sector, and increasing number of power utilities. Digital substations provide cost-effective solutions, which help in meeting the rising demand for electricity in countries such as China, India, and Singapore.
Various companies and governments are establishing partnerships to increase the use of renewable sources to decrease the carbon footprint and meet the electricity demand in this region. The major players operating in APAC include NR Electric (China) and Larsen & Toubro (India).
Key Market Players
ABB (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (US), Cisco System (US), NR Electric (China), Emerson Electric Co. (US), and Larsen & Toubro Limited (India) are a few major players in the digital substation market.
Report Scope
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Report Metric |
Details |
|
Market size available for years |
2017–2025 |
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Base year considered |
2019 |
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Forecast period |
2020–2025 |
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Forecast units |
Value (USD) Billion/Million |
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Segments covered |
Type, Module, Voltage, Installation Type, Industry, and Region |
|
Regions covered |
North America, Europe, APAC, and RoW |
|
Companies covered |
ABB (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (US), Cisco System (US), NR Electric (China), Emerson Electric Co. (US), and Larsen & Toubro Limited (India) are a few major players in the digital substation market. |
Digital substation Market Segmentation:
In this report, the digital substation market has been segmented into the following categories:
By Module:
- Hardware
- Fiber-optic Communication Networks
- SCADA Systems
By Type:
- Transmission Substation
- Distribution Substation
By Installation Type
- New Installations
- Retrofit Installations
By Voltage
- Up to 220kV
- 220-500kV
- Above 500kV
By Industry:
- Utility
- Heavy Industries
- Transportation
- Others
By Region:
- North America
- Europe
- APAC
- RoW
Recent Developments
- In February 2020, ABB’s substation won contract by Enel Green Power to deliver emission-free solar power to Brazil’s 500 kilovolt (kV) transmission network from the São Gonçalo solar photovoltaic (PV) plant, the largest solar PV in South America, located in Piauí, northeast of the country. This is the world’s first digital substation for the 500 kV alternating current rating.
- In February 2020, GE Renewable Energy business received USD 2.40 million from the European Commission’s LIFE climate action program for the development of a sulfur hexafluoride (SF6)-free, 420 kilovolt (kV) 63 kilo Amps (kA) gas-insulated substation (GIS) circuit-breaker. The circuit-breaker will rely on GE’s industry-leading “Green Gas for Grid”—or “g³”-technology, resulting in the same high performance and compact size as a traditional SF6-insulated circuit-breaker, but with a gas mass having more than a 99% reduced CO₂ equivalent value.
- January 2020, Siemens introduced a new line module for the Ruggedcom RST2228 and RST2228P Layer 2 19” rack switches, the Ruggedcom RMM2972-2RNA. This module strengthened the Ruggedcom RST2228 19” rack switch offering for electric power utilities by providing seamless redundancy with PRP/HSR (Parallel Redundancy Protocol/High-availability Seamless Redundancy), enhanced IEEE1588 implementation, high bandwidth uplinks, and traffic filtering and segmentation from a single device. This module eliminates network downtime due to single points of fault, resulting in high reliability and availability for modern digital substation applications as mandated by the IEC 61850 standard.
- In May 2019, Eaton launched a frequency response energy solution, Energy Aware, which enables energy-intensive industries to stabilize grids and contribute to renewable power.
- In January 2020, Schneider Electric announced the expansion of its UK manufacturing facilities in Scarborough and Leeds driven by rising demand for renewable and green technologies. Schneider Electric’s Leeds and Scarborough sites currently specialize in the manufacture of switchgear for high-voltage, medium voltage, and low-voltage environments. Switchgear is used in electricity substations and large buildings, such as hospitals, factories, or residential flats, to control, protect, and isolate electrical equipment.
Frequently Asked Questions (FAQ):
Which are the major companies in the digital substation market? What are their major strategies to strengthen their market presence?
The major companies in the Digital Substation market are – ABB (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France). The major strategies adopted by these players are product launches, expansions, agreements and acquisitions.
Which is the potential market for digital substation in terms of region?
APAC is the fastest-growing market for digital substation. Several initiatives have been taken by various governments in APAC countries to improve the power and energy sector, which is driving the growth of the digital substation market. Manufacturing sectors across several developed economies are also key contributors toward revenue realization and investments in the digital substation market. Moreover, the Government of India has launched several schemes to revive the power distribution in utilities and for village electrification systems.
Which industry are expected to drive the growth of the market in the next 5 years?
The utility industry is one of the booming applications areas pertaining to the digital substation, owing to the high demand-supply gap in energy in most developing and developed countries. The market growth can be attributed to the increase in demand for renewable energy sources, such as wind, solar, and hydro, to meet the power demand from consumers. Digital substations have a large scope in the utility industry as these systems are used in transmitting and distributing power.
What are the opportunities for new market entrants?
Currently, the demand for battery technologies to generate electricity is increasing. Grid-level large-scale electrical energy storage is an essential approach for balancing the supply–demand of electricity generation, distribution, and usage. Compared with conventional energy storage methods, battery technologies are desirable energy storage devices for large-scale energy due to their easy modularization, rapid response, flexible installation, and short construction cycles. The battery is a new type of technology that utilities could use to supplement or even substitute for some substations to ensure that electricity keeps flowing even when its generation source or transmission line is knocked offline. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 29)
2.1 RESEARCH DATA
FIGURE 1 DIGITAL SUBSTATION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primaries
2.1.2.2 Key data from primary sources
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED FROM SALE OF DIGITAL SUBSTATIONS
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): REVENUE FROM HARDWARE/SOFTWARE OF DIGITAL SUBSTATIONS
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIZE) – BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MARKET BASED ON REGION
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 4 (DEMAND SIZE) – BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MARKET BASED ON INDUSTRY
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach used to arrive at market size using bottom-up analysis
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.1.2 Approach for obtaining company-specific information in digital substation value chain
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach used to arrive at market size using top-down analysis
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 42)
3.1 DIGITAL SUBSTATION MARKET: REALISTIC SCENARIO (POST-COVID-19)
FIGURE 9 MARKET: OPTIMISTIC, REALISTIC, AND PESSIMISTIC SCENARIO ANALYSIS (2017–2025)
3.2 MARKET: OPTIMISTIC SCENARIO (POST-COVID-19)
3.3 MARKET: PESSIMISTIC SCENARIO (POST-COVID-19)
FIGURE 10 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF DIGITAL SUBSTATION MARKET FROM 2020 TO 2025
FIGURE 11 TRANSMISSION SEGMENT TO ACCOUNT FOR LARGER SIZE OF DIGITAL SUBSTATION HARDWARE MARKET FROM 2020 TO 2025
FIGURE 12 NEW INSTALLATION TYPE SEGMENT HELD LARGER SHARE OF MARKET IN 2019
FIGURE 13 UTILITY INDUSTRY SEGMENT HELD LARGEST SHARE OF MARKET IN 2019
FIGURE 14 APAC ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2019
4 PREMIUM INSIGHTS (Page No. - 47)
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN DIGITAL SUBSTATION MARKET
FIGURE 15 INCREASING INVESTMENTS IN SMART GRID INFRASTRUCTURE DRIVING MARKET GROWTH
4.2 MARKET FOR UTILITY, BY TYPE
FIGURE 16 NON-RENEWABLE TO ACCOUNT FOR LARGER SHARE OF UTILITY SEGMENT IN MARKET FROM 2020 TO 2025
4.3 DIGITAL SUBSTATION MARKET IN APAC, BY INDUSTRY AND COUNTRY
FIGURE 17 UTILITY SEGMENT AND CHINA ACCOUNTED FOR LARGEST SHARES OF MARKET IN APAC IN 2019
4.4 MARKET, BY VOLTAGE
FIGURE 18 200–500 KV SEGMENT TO GROW AT HIGHEST CAGR IN MARKET FROM 2020 TO 2025
4.5 MARKET, BY REGION
FIGURE 19 MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
5 MARKET OVERVIEW (Page No. - 50)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 20 MARKET DYNAMICS: OVERVIEW
5.2.1 DRIVERS
5.2.1.1 Investments in smart cities and smart grid infrastructure development
5.2.1.2 Compactness and high efficiency to cater to increasing power demand
5.2.1.3 Superior benefits of digital substations over traditional counterparts
5.2.1.4 Improved safety and effective communication in power distribution and transmission processes
FIGURE 21 DRIVERS AND THEIR IMPACT ON DIGITAL SUBSTATION MARKET
5.2.2 RESTRAINTS
5.2.2.1 High initial set-up costs associated with digital substations
FIGURE 22 RESTRAINT AND ITS IMPACT ON MARKET
5.2.3 OPPORTUNITIES
5.2.3.1 Rising demand for renewable energy projects
5.2.3.2 Increasing demand for battery technology to generate electricity
FIGURE 23 OPPORTUNITIES AND THEIR IMPACT ON MARKET
5.2.4 CHALLENGES
5.2.4.1 Concerns regarding cyber attacks
5.2.4.2 COVID-19 negatively impacted renewable energy sector
FIGURE 24 CHALLENGES AND THEIR IMPACT ON MARKET
5.3 VALUE CHAIN ANALYSIS
FIGURE 25 VALUE CHAIN ANALYSIS: DIGITAL SUBSTATION MARKET
5.3.1 RESEARCH, DESIGN, AND DEVELOPMENT
5.3.2 MANUFACTURING
5.3.3 TRANSMISSION
5.3.4 DISTRIBUTION
5.3.5 POST-SALES SERVICES
6 TECHNOLOGY OVERVIEW (Page No. - 59)
6.1 INTRODUCTION
6.2 CONVENTIONAL VS DIGITAL SUBSTATIONS
TABLE 1 COMPARISON BETWEEN CONVENTIONAL AND DIGITAL SUBSTATIONS
6.3 DIGITAL SUBSTATION ARCHITECTURE
FIGURE 26 DIGITAL SUBSTATION ARCHITECTURE
6.3.1 PROCESS LEVEL
6.3.2 BAY LEVEL
6.3.3 STATION CONTROL LEVEL
6.4 NON-CONVENTIONAL INSTRUMENT TRANSFORMERS (NCIT)
6.4.1 VOLTAGE INSTRUMENT TRANSFORMERS
6.4.2 CURRENT INSTRUMENT TRANSFORMERS
6.5 OVERVIEW OF INTERNATIONAL STANDARD COMMUNICATION PROTOCOLS
6.5.1 IEC 61850
6.5.2 IEC 61850-8-1
6.5.3 IEC 61850-9-2
6.6 LIST OF COMPLETED & ONGOING PROJECTS OF DIGITAL SUBSTATIONS FROM 2017 TO 2020 64
TABLE 2 DIGITAL SUBSTATION PROJECTS IN NORTH AMERICA
TABLE 3 DIGITAL SUBSTATION PROJECTS IN EUROPE
TABLE 4 DIGITAL SUBSTATION PROJECTS IN APAC
TABLE 5 DIGITAL SUBSTATION PROJECTS IN ROW
7 DIGITAL SUBSTATION MARKET, BY MODULE (Page No. - 70)
7.1 INTRODUCTION
FIGURE 27 HARDWARE MODULE SEGMENT TO HOLD LARGEST SIZE OF MARKET FROM 2020 TO 2025
TABLE 6 MARKET, BY MODULE, 2017–2025 (USD MILLION)
FIGURE 28 PRE-COVID-19 AND POST-COVID-19 ANALYSIS OF MARKET FOR HARDWARE, 2020 –2025 (USD MILLION)
7.2 HARDWARE
TABLE 7 MARKET FOR HARDWARE, BY TYPE, 2017–2025 (USD MILLION)
7.2.1 TRANSFORMERS
7.2.1.1 Growing transformer requirements for smooth operations of digital substations
7.2.2 BUSBARS
7.2.2.1 Increasing demand for busbars to connect lines operating at same voltage levels
7.2.3 PROTECTION DEVICES
7.2.3.1 Circuit breakers
7.2.3.1.1 Rising use of circuit breakers in digital substations to prevent damages caused by faulty components
7.2.3.2 Protective relays
7.2.3.2.1 Surging demand for protective relays from digital substations for fault detection
7.2.3.3 Switchgears
7.2.3.3.1 Rising need for switchgears to ensure reliable and safe power operations in digital substations
7.2.4 INTERFACING UNITS
7.2.4.1 Human-machine interfaces (HMI)
7.2.4.1.1 Growing demand for dashboards with multi-touch capabilities
7.2.4.2 Remote terminal units (RTU)
7.2.4.2.1 Rising adoption of flexible and scalable hardware for remote monitoring of digital substations
7.2.4.3 Programmable logic controllers (PLCs)
7.2.4.3.1 Surging demand for programmable logic controllers to communicate with computer systems in digital substations
7.2.5 OTHERS
7.3 FIBER-OPTIC COMMUNICATION NETWORKS
7.3.1 INCREASING USE OF FIBER-OPTIC CABLES IN DIGITAL SUBSTATIONS FOR FAST COMMUNICATION
7.4 SCADA SYSTEMS
7.4.1 GROWING USE OF SCADA SYSTEMS TO MONITOR AND CONTROL EQUIPMENT OF DIGITAL SUBSTATIONS
7.5 IMPACT OF COVID-19 ON MODULES OF DIGITAL SUBSTATIONS
8 DIGITAL SUBSTATION MARKET, BY TYPE (Page No. - 77)
8.1 INTRODUCTION
FIGURE 29 TRANSMISSION SUBSTATION SEGMENT OF MARKET TO GROW AT HIGH CAGR FROM 2020 TO 2025
TABLE 8 MARKET, BY TYPE, 2017–2025 (USD BILLION)
FIGURE 30 PRE-COVID-19 AND POST-COVID-19 ANALYSIS OF TRANSMISSION DIGITAL SUBSTATION MARKET, 2020 –2025 (USD MILLION)
8.2 TRANSMISSION SUBSTATION
8.2.1 TRANSMISSION SUBSTATION SEGMENT TO ACCOUNT FOR LARGE SIZE OF MARKET FROM 2020 TO 2025
TABLE 9 TRANSMISSION DIGITAL SUBSTATION MARKET, BY REGION, 2017–2025 (USD MILLION)
8.3 DISTRIBUTION SUBSTATION
8.3.1 DISTRIBUTION SUBSTATIONS TO WITNESS INCREASED DEMAND FROM APAC DURING FORECAST PERIOD
TABLE 10 DISTRIBUTION DIGITAL SUBSTATION MARKET, BY REGION, 2017–2025 (USD MILLION)
8.4 IMPACT OF COVID-19 ON TYPES OF DIGITAL SUBSTATIONS
9 DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE (Page No. - 82)
9.1 INTRODUCTION
FIGURE 31 MARKET FOR NEW SUBSTATIONS EXPECTED TO HOLD LARGER SHARE FROM 2020 AND 2025
TABLE 11 MARKET, BY INSTALLATION TYPE, 2017–2025 (USD BILLION)
9.2 NEW INSTALLATIONS
9.2.1 NEW INSTALLATIONS TO ACCOUNT FOR LARGER SIZE OF MARKET FROM 2020 TO 2025
TABLE 12 MARKET FOR NEW INSTALLATIONS, BY REGION, 2017–2025 (USD MILLION)
9.3 RETROFIT INSTALLATIONS
9.3.1 INCREASED NEED FOR GREATER SYSTEM & PERSONNEL SAFETY ENCOURAGES ADOPTION OF RETROFIT INSTALLATIONS
TABLE 13 MARKET FOR RETROFIT INSTALLATIONS, BY REGION, 2017–2025 (USD MILLION)
9.4 IMPACT OF COVID-19 ON INSTALLATION TYPES OF DIGITAL SUBSTATIONS
10 DIGITAL SUBSTATION MARKET, BY VOLTAGE (Page No. - 86)
10.1 INTRODUCTION
FIGURE 32 MARKET FOR DIGITAL SUBSTATIONS WITH VOLTAGE RANGE OF 220–550 KV IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 14 MARKET, BY VOLTAGE, 2017–2025 (USD MILLION)
10.2 UP TO 220 KV
10.2.1 ABILITY TO TRANSMIT POWER OVER LONG DISTANCES AS WELL AS IN INDUSTRIAL INFRASTRUCTURE
FIGURE 33 PRE-COVID-19 AND POST-COVID-19 ANALYSIS OF MARKET FOR DIGITAL SUBSTATIONS OF UP TO 220 KV VOLTAGE
TABLE 15 MARKET FOR UP TO 220 KV RANGE, BY REGION, 2017–2025 (USD MILLION)
10.3 220–550 KV
10.3.1 MARKET FOR DIGITAL SUBSTATIONS OF RANGE 220–550 KV VOLTAGE TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
TABLE 16 DIGITAL SUBSTATION MARKET FOR 220–500 KV RANGE, BY REGION, 2017–2025 (USD MILLION)
10.4 ABOVE 550 KV
10.4.1 ATTRACTIVE OPPORTUNITY DUE TO RISE IN POWER-GENERATION CAPACITIES AND REDUCTION IN TRANSMISSION LOSSES
TABLE 17 MARKET FOR ABOVE 500 KV RANGE, BY REGION, 2017–2025 (USD MILLION)
10.5 IMPACT OF COVID-19 ON VOLTAGE OF DIGITAL SUBSTATIONS
11 DIGITAL SUBSTATION MARKET, BY INDUSTRY (Page No. - 91)
11.1 INTRODUCTION
FIGURE 34 UTILITY INDUSTRY IS EXPECTED TO HOLD LARGEST SHARE OF MARKET IN 2025
TABLE 18 MARKET, BY INDUSTRY, 2017–2025 (USD MILLION)
11.2 UTILITY
TABLE 19 MARKET FOR UTILITY, BY REGION, 2017–2025 (USD MILLION)
FIGURE 35 PRE-COVID-19 AND POST-COVID-19 ANALYSIS OF MARKET FOR UTILITY, 2020–2025 (USD MILLION)
TABLE 20 MARKET FOR UTILITY, BY TYPE, 2017–2025 (USD MILLION)
11.2.1 NON-RENEWABLES
11.2.1.1 Non-renewables hold largest share of market for utility
TABLE 21 DIGITAL SUBSTATION MARKET FOR UTILITY, BY NON-RENEWABLE SOURCE TYPE, 2017–2025 (USD MILLION)
TABLE 22 MARKET FOR NON-RENEWABLE SOURCE, BY REGION, 2017–2025 (USD MILLION)
11.2.2 RENEWABLES
11.2.2.1 Decline in price of electricity generated from renewable sources of energy leading to adoption of digital substations in utility industry
TABLE 23 MARKET FOR UTILITY, BY RENEWABLE SOURCE TYPE, 2017–2025 (USD MILLION)
FIGURE 36 PRE-COVID-19 AND POST-COVID-19 ANALYSIS OF MARKET FOR RENEWABLE SOURCES, 2020–2025 (USD MILLION)
TABLE 24 MARKET FOR RENEWABLE SOURCES, BY REGION, 2017–2025 (USD MILLION)
11.3 HEAVY INDUSTRIES
11.3.1 INCREASED ADOPTION OF DIGITAL SUBSTATIONS IN HEAVY INDUSTRIES TO ENSURE IMPROVED QUALITY AND UNINTERRUPTED POWER SUPPLY
TABLE 25 MARKET FOR HEAVY INDUSTRIES, BY REGION, 2017–2025 (USD MILLION)
11.4 TRANSPORTATION
11.4.1 RISE IN ADOPTION OF DIGITAL SUBSTATIONS FOR RAILWAYS AND METROS TO PREVENT FROM POWER INTERRUPTION
TABLE 26 MARKET FOR TRANSPORTATION, BY REGION, 2017–2025 (USD MILLION)
11.5 OTHERS
TABLE 27 MARKET FOR OTHER INDUSTRIES, BY REGION, 2017–2025 (USD MILLION)
11.6 IMPACT OF COVID-19 ON INDUSTRY OF DIGITAL SUBSTATIONS
12 GEOGRAPHY ANALYSIS (Page No. - 101)
12.1 INTRODUCTION
FIGURE 37 DIGITAL SUBSTATION MARKET IN INDIA TO REGISTER HIGHEST CAGR BETWEEN 2020 AND 2025
TABLE 28 MARKET, BY REGION, 2017–2025 (USD BILLION)
12.2 NORTH AMERICA
FIGURE 38 SNAPSHOT OF DIGITAL SUBSTATION MARKET IN NORTH AMERICA
TABLE 29 MARKET IN NORTH AMERICA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 30 MARKET IN NORTH AMERICA, BY HARDWARE, 2017–2025 (USD MILLION)
TABLE 31 MARKET IN NORTH AMERICA, BY TYPE, 2017–2025 (USD MILLION)
TABLE 32 MARKET IN NORTH AMERICA, BY VOLTAGE, 2017–2025 (USD MILLION)
TABLE 33 DIGITAL SUBSTATION MARKET IN NORTH AMERICA, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 34 MARKET IN NORTH AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 35 MARKET IN NORTH AMERICA, BY UTILITY, 2017–2025 (USD MILLION)
TABLE 36 MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
12.2.1 US
12.2.1.1 Increasing investments by energy companies to modernize grid system
TABLE 37 DIGITAL SUBSTATION MARKET IN US, BY MODULE, 2017–2025 (USD MILLION)
TABLE 38 MARKET IN US, BY INDUSTRY, 2017–2025 (USD MILLION)
12.2.2 CANADA
12.2.2.1 High focus on electric grid security and resilience energy
TABLE 39 MARKET IN CANADA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 40 MARKET IN CANADA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.2.3 MEXICO
12.2.3.1 Significant growth of the smart grid exports market
TABLE 41 DIGITAL SUBSTATION MARKET IN MEXICO, BY MODULE, 2017–2025 (USD MILLION)
TABLE 42 MARKET IN MEXICO, BY INDUSTRY, 2017–2025 (USD MILLION)
FIGURE 39 PRE- AND POST-COVID-19 ANALYSIS OF MARKET IN NORTH AMERICA, 2020–2025 (USD MILLION)
12.2.4 IMPACT OF COVID-19 ON NORTH AMERICAN MARKET
12.3 EUROPE
FIGURE 40 SNAPSHOT OF DIGITAL SUBSTATION MARKET IN EUROPE
TABLE 43 MARKET IN EUROPE, BY MODULE, 2017–2025 (USD MILLION)
TABLE 44 MARKET IN EUROPE, BY HARDWARE, 2017–2025 (USD MILLION)
TABLE 45 MARKET IN EUROPE, BY TYPE, 2017–2025 (USD MILLION)
TABLE 46 MARKET IN EUROPE, BY VOLTAGE, 2017–2025 (USD MILLION)
TABLE 47 DIGITAL SUBSTATION MARKET IN EUROPE, INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 48 MARKET IN EUROPE, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 49 MARKET IN EUROPE, BY UTILITY, 2017–2025 (USD MILLION)
TABLE 50 MARKET IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
12.3.1 UK
12.3.1.1 FITNESS project is expected to increase the installation of digital substations
TABLE 51 DIGITAL SUBSTATION MARKET IN UK, BY MODULE, 2017–2025 (USD MILLION)
TABLE 52 MARKET IN UK, BY INDUSTRY, 2017–2025 (USD MILLION)
12.3.2 GERMANY
12.3.2.1 Increasing installation of digital substations in the industrial sector
TABLE 53 DIGITAL SUBSTATION MARKET IN GERMANY, BY MODULE, 2017–2025 (USD MILLION)
TABLE 54 MARKET IN GERMANY, BY INDUSTRY, 2017–2025 (USD MILLION)
12.3.3 FRANCE
12.3.3.1 High focus on renewable energy to increase demand for digital substations
TABLE 55 DIGITAL SUBSTATION MARKET IN FRANCE, BY MODULE, 2017–2025 (USD MILLION)
TABLE 56 MARKET IN FRANCE, BY INDUSTRY, 2017–2025 (USD MILLION)
12.3.4 ITALY
12.3.4.1 Serval programs initiated by the government for digitization of energy & power sector
TABLE 57 DIGITAL SUBSTATION MARKET IN ITALY, BY MODULE, 2017–2025 (USD MILLION)
TABLE 58 MARKET IN ITALY, BY INDUSTRY, 2017–2025 (USD MILLION)
12.3.5 REST OF EUROPE
TABLE 59 MARKET IN REST OF EUROPE, BY MODULE, 2017–2025 (USD MILLION)
TABLE 60 MARKET IN REST OF EUROPE, BY INDUSTRY, 2017–2025 (USD MILLION)
12.3.6 IMPACT OF COVID-19 ON EUROPEAN MARKET
12.4 ASIA PACIFIC
FIGURE 41 SNAPSHOT OF DIGITAL SUBSTATION MARKET IN ASIA PACIFIC
TABLE 61 MARKET IN APAC, BY MODULE, 2017–2025 (USD MILLION)
TABLE 62 MARKET IN APAC, BY HARDWARE, 2017–2025 (USD MILLION)
TABLE 63 MARKET IN APAC, BY TYPE, 2017–2025 (USD MILLION)
TABLE 64 MARKET IN APAC, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 65 MARKET IN APAC, BY VOLTAGE, 2017–2025 (USD MILLION)
TABLE 66 MARKET IN APAC, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 67 MARKET IN APAC, BY UTILITY, 2017–2025 (USD MILLION)
TABLE 68 MARKET IN APAC, BY COUNTRY, 2017–2025 (USD MILLION)
12.4.1 CHINA
12.4.1.1 Increasing installation of digital substations in China
TABLE 69 DIGITAL SUBSTATION MARKET IN CHINA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 70 MARKET IN CHINA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.4.2 JAPAN
12.4.2.1 Increasing focus on rebuilding power grids and substations
TABLE 71 MARKET IN JAPAN, BY MODULE, 2017–2025 (USD MILLION)
TABLE 72 MARKET IN JAPAN, BY INDUSTRY, 2017–2025 (USD MILLION)
12.4.3 INDIA
12.4.3.1 Increased government investments in infrastructure projects to boost the power generation capacity in India
TABLE 73 MARKET IN INDIA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 74 MARKET IN INDIA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.4.4 SOUTH KOREA
12.4.4.1 Increasing focus on digitization of grids
TABLE 75 DIGITAL SUBSTATION MARKET IN SOUTH KOREA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 76 MARKET IN SOUTH KOREA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.4.5 AUSTRALIA
12.4.5.1 Installation of digital substations in Australia is expected to increase in the long run
TABLE 77 MARKET IN AUSTRALIA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 78 MARKET IN AUSTRALIA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.4.6 REST OF APAC
TABLE 79 MARKET IN REST OF APAC, BY MODULE, 2017–2025 (USD MILLION)
TABLE 80 MARKET IN REST OF APAC, BY INDUSTRY, 2017–2025 (USD MILLION)
FIGURE 42 PRE- AND POST-COVID-19 ANALYSIS OF MARKET FOR APAC, 2020–2025 (USD MILLION)
12.4.7 IMPACT OF COVID-19 ON APAC MARKET
12.5 REST OF THE WORLD
FIGURE 43 SNAPSHOT OF DIGITAL SUBSTATION MARKET IN ROW
TABLE 81 MARKET IN ROW, BY MODULE, 2017–2025 (USD MILLION)
TABLE 82 MARKET IN ROW, BY HARDWARE, 2017–2025 (USD MILLION)
TABLE 83 MARKET IN ROW, BY TYPE, 2017–2025 (USD MILLION)
TABLE 84 MARKET IN ROW, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 85 MARKET IN ROW, BY VOLTAGE, 2017–2025 (USD MILLION)
TABLE 86 MARKET IN ROW, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 87 MARKET IN ROW, BY UTILITY, 2017–2025 (USD MILLION)
TABLE 88 MARKET IN ROW, BY REGION, 2017–2025 (USD MILLION)
12.5.1 MIDDLE EAST
TABLE 89 DIGITAL SUBSTATION MARKET IN MIDDLE EAST, BY MODULE, 2017–2025 (USD MILLION)
TABLE 90 MARKET IN MIDDLE EAST, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 91 MARKET IN MIDDLE EAST, BY COUNTRY, 2017–2025 (USD MILLION)
12.5.1.1 UAE
12.5.1.1.1 Increasing focus on improving the efficiency of the grid
TABLE 92 MARKET IN UAE, BY MODULE, 2017–2025 (USD MILLION)
TABLE 93 MARKET IN UAE, BY INDUSTRY, 2017–2025 (USD MILLION)
12.5.1.2 Saudi Arabia
12.5.1.2.1 Increasing installation of digital substations in heavy industries
TABLE 94 DIGITAL SUBSTATION MARKET IN SAUDI ARABIA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 95 MARKET IN SAUDI ARABIA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.5.1.3 Rest of the Middle East
TABLE 96 MARKET IN REST OF MIDDLE EAST, BY MODULE, 2017–2025 (USD MILLION)
TABLE 97 MARKET IN REST OF MIDDLE EAST, BY INDUSTRY, 2017–2025 (USD MILLION)
12.5.2 AFRICA
12.5.2.1 Upgradation of power facilities to meet rising demand for electricity
TABLE 98 DIGITAL SUBSTATION MARKET IN AFRICA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 99 MARKET IN AFRICA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.5.3 SOUTH AMERICA
TABLE 100 MARKET IN SOUTH AMERICA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 101 MARKET IN SOUTH AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
TABLE 102 MARKET IN SOUTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
12.5.3.1 Brazil
12.5.3.1.1 Increasing focus on smart grid infrastructure
TABLE 103 DIGITAL SUBSTATION MARKET IN BRAZIL, BY MODULE, 2017–2025 (USD MILLION)
TABLE 104 MARKET IN BRAZIL, BY INDUSTRY, 2017–2025 (USD MILLION)
12.5.3.2 Rest of South America
TABLE 105 MARKET IN REST OF SOUTH AMERICA, BY MODULE, 2017–2025 (USD MILLION)
TABLE 106 MARKET IN REST OF SOUTH AMERICA, BY INDUSTRY, 2017–2025 (USD MILLION)
12.6 IMPACT OF COVID-19 ON REST OF THE WORLD MARKET
13 COMPETITIVE LANDSCAPE (Page No. - 139)
13.1 OVERVIEW
FIGURE 44 PRODUCT LAUNCHES/DEVELOPMENTS, 2017–2020
13.2 RANKING ANALYSIS OF KEY PLAYERS IN DIGITAL SUBSTATION MARKET
FIGURE 45 MARKET: RANKING OF KEY COMPANIES IN 2019
13.3 COMPETITIVE SITUATIONS AND TRENDS
13.3.1 PRODUCT LAUNCHES
TABLE 107 PRODUCT LAUNCHES, 2017–2020
13.3.2 AGREEMENTS
TABLE 108 AGREEMENTS, 2017–2019
13.3.3 CONTRACTS
TABLE 109 CONTRACTS, 2017–2020
13.3.4 EXPANSIONS
TABLE 110 EXPANSIONS, 2017–2020
13.3.5 PARTNERSHIPS
TABLE 111 PARTNERSHIPS, 2017–2019
13.3.6 ACQUISITIONS
TABLE 112 ACQUISITIONS, 2016–2019
13.4 COMPETITIVE LEADERSHIP MAPPING, 2019
13.4.1 VISIONARY LEADERS
13.4.2 DYNAMIC DIFFERENTIATORS
13.4.3 INNOVATORS
13.4.4 EMERGING COMPANIES
FIGURE 46 COMPETITIVE LEADERSHIP MAPPING, 2019
14 COMPANY PROFILES (Page No. - 149)
14.1 KEY PLAYERS
(Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
14.1.1 ABB
FIGURE 47 ABB: COMPANY SNAPSHOT
14.1.2 GENERAL ELECTRIC (GE)
FIGURE 48 GENERAL ELECTRIC: COMPANY SNAPSHOT
14.1.3 SIEMENS
FIGURE 49 SIEMENS: COMPANY SNAPSHOT
14.1.4 EATON
FIGURE 50 EATON: COMPANY SNAPSHOT
14.1.5 SCHNEIDER ELECTRIC
FIGURE 51 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
14.1.6 HONEYWELL
FIGURE 52 HONEYWELL: COMPANY SNAPSHOT
14.1.7 CISCO
FIGURE 53 CISCO: COMPANY SNAPSHOT
14.1.8 EMERSON
FIGURE 54 EMERSON: COMPANY SNAPSHOT
14.1.9 NR ELECTRIC
14.1.10 LARSEN & TOUBRO
FIGURE 55 LARSEN & TOUBRO: COMPANY SNAPSHOT
*Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
14.2 RIGHT TO WIN
14.3 OTHER IMPORTANT PLAYERS
14.3.1 SCHWEITZER ENGINEERING LABORATORIES, INC.
14.3.2 WELOTEC GMBH
14.3.3 TCS DIGITAL
14.3.4 GUODIAN NANJING AUTOMATION CO., LTD.
14.3.5 TESCO AUTOMATION INC.
14.3.6 LOCAMATION
14.3.7 BEIJING SIFANG AUTOMATION CO., LTD.
14.3.8 NETCONTROL GROUP
14.3.9 PROSOFT-SYSTEMS
14.3.10 FUJI ELECTRIC
14.3.11 EFACEC
14.3.12 TEKVEL
14.3.13 IGRID T&D
14.3.14 CADILLAC AUTOMATION AND CONTROLS
14.3.15 I-TOR
15 APPENDIX (Page No. - 192)
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 AVAILABLE CUSTOMIZATIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
The study involved 4 major activities for estimating the current size of the digital substation market. Exhaustive secondary research was carried out to collect information on the market, peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments of the market.
Secondary Research
Secondary sources referred to for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, digital substation-related journals, The Institute of Environmental Sciences and Technology (IEST) publications; directories; and databases. The secondary data was collected and analyzed to arrive at the overall market size estimations, which was further validated through the primary research.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research was conducted after understanding and analyzing the digital substation market through secondary research. Several primary interviews were conducted with the key opinion leaders from both demand and supply side across 4 regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). RoW comprises the Middle East and Africa and South America. Approximately 25% of the primary interviews were conducted with the demand side, while approximately 75% with the supply side. This primary data was collected mainly through telephonic interviews, which accounted for approximately 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the digital substation market. These methods were also used extensively to estimate the size of the markets based on various segments. The research methodology used to estimate the market size included the following steps:
- The key players in the industry and markets were identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for each market segment and subsegment. The data was triangulated by studying various factors and trends from demand and supply sides across different end users.
Study Objectives
- To describe and forecast the overall digital substation market on the basis of type, module, voltage, installation type, industry, and region
- To describe and forecast the market, in terms of value, with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), along with their respective countries
- To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the digital substation market
- To provide a detailed overview of the digital substation value chain
- To analyze each submarket with respect to individual growth trends and contribution to the overall digital substation market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the digital substation market
- To strategically profile key players in the said market and comprehensively analyze their market ranking in terms of revenue and core competencies
- To analyze strategies/developments such as product launches, product developments, agreements, partnerships, and collaboration in the global digital substation market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for this report:
Regional Analysis
- Country-wise breakdown of the digital substation market for North America, Europe, APAC, and RoW
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Digital Substation Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Digital Substation Market
I am currently working in the area of Transmission and Distribution. I wish to explore the opportunities provided by Digital Substation in future.
We would like to confirm how much in detail we could obtain the information related to Digital Substation by country. At least, we would like to obtain by-country data including Vietnam, India, Indonesia, Thailand, Malaysia, Singapore, Phillipins, and Australia.
We would like to obtain the data pretting to the penetaration of digital substation (hopefully by capacity: 500kV, 220kV, 110kV, and by type: SAS and SCADA). Market size of digital substation, trends, and growth perspectives - Governmental policies/regulations to accelarate the implementation of digital substations.