Digital Substation Market by Module (Hardware, Fiber-Optic Communication Networks, and Scada Systems), Type (Transmission and Distribution), Voltage, Installation Type, Industry, and Region - Global Forecast to 2025
The digital substation market is projected to grow from USD 6.4 billion in 2020 to USD 9.1 billion by 2025, at a CAGR of 7.1% from 2020 to 2025.
A digital substation is a digitized portion of a substation’s secondary system after eliminating the majority of analog secondary circuits between the instrument transformers and protective relays. This is an important aspect of electrical generation, transmission, and distribution systems, which enable electric utilities and other industries to remotely monitor, control, and coordinate the transmission and distribution components installed in the substation.
A digital substation requires digital communication networks and provides improved capabilities for advanced grid control as well as helps in collecting operational and asset data, which can be analyzed to detect and predict failures.
Digital Substation Market Forecast to 2025
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Digital substation solutions comprise of different modules including hardware, fiber-optic communication networks, and SCADA systems. The fiber-optic communication networks segment of the digital substation market is projected to grow significantly in the next 3 to 5 years.
Transmission and distribution infrastructures are the backbone of the electric power systems as they facilitate the delivery of electricity from power plants to end users. Digital substations act as strategic nodes in transmission and distribution networks. Transmission substations act as interconnection or communication medium between transmission and low-voltage distribution networks. Distribution stations help in transferring power from transmission systems to distribution systems of an area. The transmission substations is expected to grow at a higher CAGR during the forecast period.
The digital substation is mainly categorized as new installation & retrofit installation. Along with new installations, many utilities are seeking to introduce the IEC 61850 standard to existing substations as a part of the retrofit installation. Thus, new installation to hold larger share of the digital substation market during the forecast period.
The digital substation market based on voltage has been divided into three segments—up to 220 kV, 220–550 kV, and above 550 kV. The up to 220 kV voltage segment is expected to dominate the digital substation market during the forecast period.
Digital substations are used in various industries to build a more reliable and cost-effective source of power generation and distribution to meet their varying needs. The digital substation market based on industry has been segmented into utility, heavy industries, transportation, and others (IT parks, residential, & commercial end users). The utility segment is projected to grow at the highest CAGR during the forecast period.
Investments in the digital substation ecosystem have been increasing drastically during the period 2017-2020. The ecosystem players are adopting organic and inorganic growth startegies such as product launches and developments, partnerships, agreements, contracts, etc. to strengthen their position in the digital substation market.
The digital substation market is highly competitive owing to the easy availability of competitive products from several players, including mid-tier and large companies such as market ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (US), Cisco System Inc. (US), NR Electric (China), Emerson Electric Co. (US), and Larsen & Toubro Limited (India).
Digital substation Market Dynamics:
Driver: Improved safety and effective communication in power distribution and transmission processes
The functionality of a digital substation system completely relies on the use of an effective communication system to link various protection, control, and monitoring components within a substation.
Earlier, most manufacturers were using their own proprietary communication protocols; some of the protocols such as Modbus Plus, DNP 3.0, and IEC 60870 were used in utilities, which did not fully support the interoperability among intelligent electronic devices (IEDs) provided by different vendors in the substation automation ecosystem. Therefore, a universal standard, IEC 61850, was introduced pertaining to substation automation to eliminate the problems related to interoperability.
IEC 61850 is an international standard of a transmission protocol for communication within electric substations for high and medium voltage and, at the same time, acts as a milestone for the digitalization of substations. Apart from the exchange of information via Ethernet for protection, monitoring, controlling, and measuring, the standard also defines the general description of substations. IEC 61850 is a uniform communication protocol ensuring the interoperability of the products of different manufacturers. Companies are focusing on upgrading the IEC 61850 standard to IEC 61850-8-1 and IEC 61850-9-2. The IEC 61850-8-1 standard enables the standardized communication of current and voltage samples across an Ethernet-based serial link and results in a complete process bus between primary and secondary equipment.
Moreover, safety from high-power equipment is a major concern in substations. Digital substations offer significant safety from hazards caused by substation equipment used in traditional substations. Increased system and personnel safety are achieved by utilizing remote control combined with authority and rulebased access and remote testing. Personnel safety has improved since fewer signal connections or inadvertently opened CT circuits can harm personnel during commissioning and service activities. Ultra-fast earthing switches are installed in medium-voltage cubicles to prevent disruptive and catastrophic damages caused by arcing faults.
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.
Additionally, in the oil & gas market, digital transformation also requires high capital expenditure for reengineering the traditional processes and also demands the automation of several routine analysis and decision-support processes; due to these, several companies are retiring. The above-mentioned factors,
along with the decrease in the growth rate of the oil & gas industry, are restraining the growth of the digital substation market.
According to the State Grid Beijing Economic and Technology Research Institute, the initial investment in a smart substation with the same size and the same level of building increased from 2.9% to 5.1% as compared to a conventional substation. Along with IEDs, there are some other devices and equipment which are responsible for increasing the initial investment in digital substations.
The SCADA system is an integration of hardware and software, including sensors, remote terminal units (RTUs), programmable logic controllers (PLCs), and human–machine interfaces (HMIs). Components included in SCADA such as centralized computer equipment, software, training, and personnel to initially implement the system require huge investments. Due to the high cost of SCADA equipment, the overall cost of setting up the system increases. Moreover, modern wireless sensors in digital substations are linked using wireless technologies that employ many sensor networks at low data rates, such as RFID, ZigBee, and Bluetooth, and high data rates, such as Wi-Fi networks, cellular and satellite communications. Hence, the overall installation cost of these wireless networks is high and acts as a restraint. However, with declining prices of IEDs and entry of more companies in the market, the impact of this restraint will subside in the coming years.
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 carbonconstrained 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.
Countries in APAC are increasingly investing to harness alternative electricity generation sources, such as wind and solar energy, to meet the growing demand for electricity in the region. China, India, and other South Asian countries are planning to expand their installed renewable energy capacity.
The utilization of renewable sources of energy for electricity generation is expected to generate ample growth opportunities for the digital substation market in APAC. Moreover, highly populated countries of APAC, including China, India, Indonesia, and Malaysia, are also experiencing high rates of rural electrification, thereby acting as an opportunity for the growth of digital substation. Renewables are likely to continue moving forward in electricity markets as utilities and regulators prefer them to replacing retiring capacity, and customers increasingly choose them to save costs and address climate change concerns.
Challenge: Concern regarding cyber attacks
Many areas in the electricity network, including the substations, are expanding their existing systems with digital technology.
The rapid pace of change in the electric power grid creates a challenging environment for asset owners and operators of electricity infrastructure to monitor the activities of the industry and standards organizations, develop an understanding of the security impacts of new technologies, and assess and monitor cybersecurity risks.
A digital substation is a highly automated control system where almost all processes of information exchange between substation components, communication with external systems, and control of the substation operation are carried out digitally, which is based on IEC 61850 protocols.
The high importance of substations for the operation of power systems places unconditional requirements for their cybersecurity. Data transfer on Ethernet through the process bus and substation bus leads to an increased vulnerability of the digital substation to cyber attacks. The increasing cybersecurity threats in the power industry are due to the intrusion caused by virus attacks in all the intelligent electronic devices (IEDs). Cybersecurity provides protection against unauthorized access to equipment and helps in transferring or modifying data, especially for a wide area network (WAN).
The integration of software in the substation has increased the risk of cybersecurity threats. These cybersecurity threats are from numerous sources, including hostile governments and terrorist groups. Currently, the power industry has encountered a new malware threat, such as stuxnet2 of flame, which specifically targets the industrial control systems.
Cybersecurity is an ongoing journey as detection and defense advances to counter increasingly sophisticated attacks. Thus, controlling cybersecurity risks is one of the major challenges in the digital substation market. However, in order to deal with cybersecurity risks, it becomes necessary to add software and solutions in line with the IEC 62443 standard. This standard is proven to be one of the most future-oriented security standards worldwide.
Also, GE is one of a number of companies with digital substation cybersecurity offerings. Their programs include secure designs, security validation testing, vulnerability management, and built-in preventative, detection, and response capabilities.
Digital Substation Market Segment Insights:
Based on Installation Type, the new installations segment to dominate the digital substation market during the forecast period
The new installations segment is expected to dominate the digital substation market during the forecast period. The dominance can be attributed to increased demand for new power stations and smart grids in different industries and the rising need for automation, IEDs, advanced communication technologies, HMI, and SCADA. New installations also offer greater operational safety and reliability and require lower maintenance.
Based on Voltage, 220–550 kV segment to grow at the highest CAGR during forecast period
Based on voltage, the 220–550 kV segment is expected to grow at the highest CAGR of 7.8% during the forecast period. Digital substations with a voltage range between 220 kV and 550 kV are used to transmit power over long distances.
Moreover, the demand for these substations is high among industrial users. Recently, in September 2019, NR Electric successfully energized the IEC61850 Edition 2-based project in National Gird, UK. The project involved the replacement of a Substation Control System (SCS) for National Grid at Bredbury 275kV Substation in Stockport, UK. The solution is based on the IEC61850 Edition 2 standard using NR Electric’s PCS9700 substation automation system. NR provided the overall solution, including HMI software and hardware, gateway, Ethernet switches, GPS clock, and bay control units.
Based on Industry, the utility segment to dominate the digital substation market during the forecast period
The utility industry is one of the booming application areas pertaining to digital substations, owing to the high demand-supply gap in energy in most of the developing and developed nations.
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.
Digital Substation Market Regional Insights:
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The market in Asia Pacific accounted for a share of ~33% of the global digital substation market in 2019. 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. Moreover, the Government of China has planned to invest USD 31 billion in smart grids by 2020, which would include the installation of digital substations. Likewise, investments pertaining to grid modernization are also going on in countries such as Indonesia, Malaysia, South Korea, Japan and other south Asian countries.
All these factors are fueling the growth of the digital substation market in the region. The Indian government is following the smart infrastructure vision in their country. The smart power infrastructure includes digitization of the grid, which helps to distribute uninterrupted electricity to the industrial, residential, and commercial end users.
Digital Substation Market by Region
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Key Market Players Digital Substation Industry
Some of the major players in the digital substation market ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (US), Cisco System Inc. (US), NR Electric (China), Emerson Electric Co. (US), and Larsen & Toubro Limited (India). These players have adopted various growth strategies such as product launches and developments, expansions, agreements, partnerships, acquisitions, and contracts to further expand their presence in the digital substation market.
ABB Ltd. focuses on new projects, partnerships, and expansions to maintain its global market presence. In September 2019, ABB signed a 5-year contract with Austrian Power Grid (APG), an Austria-based transmission system operator, to supply gas-insulated switchgears (GIS) during the largest electricity grid expansion in the country. Such long-term contracts help the company to grow and maintain good relations with customers.
The company has strong presence in Europe and generates ~36% of its revenue from this region. It should focus on other geographies, such as North America, the Middle East, and South America, for improved revenue generation. Additionally, the company could focus on developing innovative products for the digitization of substations, similar to its competitors.
General Electric (GE) focuses on both organic and inorganic growth strategies for expanding its power business. Product launches and developments, and expansions are the key growth strategies adopted by the company for maintaining its position in the digital substation market. In September 2019, GE’s Grid Solutions business invested USD 10 million to expand its range of sulfur hexafluoride (SF6)-free high-voltage substation equipment to include all key high-voltage levels by 2025. This is one of Grid Solution’s biggest portfolio investments in years that support customers in their efforts to reduce greenhouse gas emissions. GE could emphasize more on inorganic growth strategies, such as mergers & acquisitions, to target emerging and rapidly growing markets, such as India, China, and South Korea, in APAC.
Siemens AG focuses on new product and solution launches, along with long-term contracts, to sustain in the highly competitive digital substation market. For instance, in January 2020, Siemens introduced a new line module that eliminates network downtime due to single points of fault and resulting in high reliability and availability for modern digital substation applications as mandated by the IEC 61850 standard.
The company has strong financial earnings and could consider focusing on implementing inorganic growth strategies, such as mergers & acquisitions, in different regions to establish its presence in countries such as the US, Germany, and China.
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|
Report Metric |
Details |
| Market Size Value in 2020 | USD 6.4 billion |
| Revenue Forecast in 2025 | USD 9.1 billion |
| Growth Rate | 7.1% |
|
Market size available for years |
2017–2025 |
|
Base year considered |
2019 |
|
Forecast period |
2020–2025 |
|
Forecast units |
Value (USD) Billion/Million |
|
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
Digital Substation Industry Highlights:
Recent Developments in Digital Substation
- In April 2020, L&T received major contracts to upgrade substations and related power facilities in Kuwait National Petroleum Company's Mina Al Ahmadi oil refinery. It also bagged an order in Egypt to design, supply, construct, and commission a 220-kV gas insulated substation.
- In 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 September 2019, Honeywell signed an agreement with an energy storage solution firm, NRStor, to launch the largest behind-the-meter storage system in North America. This agreement helped the company provide energy storage as a service to commercial and industrial customers.
- 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 August 2018, ABB established the world’s largest digital substation with the upgrade of one of the biggest air insulated substations (AIS) built for the Belarus Ministry of Energy and its transmission utility Mogilevenergo. As part of the upgrade, the substation was equipped with digital technology that enhanced controllability and reliability while optimizing operating costs. ABB supplied protection and control equipment, an ABB Ability MicroSCADA (Supervisory Control and Data Acquisition) system, and a digital process bus, which enables interoperable communication between vendors through Ethernet cables instead of copper wires, saving cost and space.
Key Benefits of the Report/Reason to Buy:
The report would help key players/new entrants in this market in the following ways.
- This report segments the digital substation market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different industry and regions.
- The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, product launches and developments, expansions, agreements, partnerships, acquisitions, and contracts carried out in the market in the recent past.
Target Audience:
- Intelligent electronic device (IED) manufacturers
- Supervisory control and data acquisition (SCADA) solution providers
- Communication network providers
- Power utility companies
- Turnkey contractors
- Distributors and traders
- Research organizations
- Forums, alliances, and associations
- Other end users such as companies in metal, mining, oil & gas, and transportation sectors
Frequently Asked Questions (FAQ):
What is the current size of the digital substation market?
The digital substation market is expected to reach USD 9.1 billion by 2025 from an estimated USD 6.4 billion in 2020, at a CAGR of 7.1% from 2020 to 2025.
Who are the major players in the digital substation market?
ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), and Schneider Electric SE (France) are the major players in the digital substation market.
What are the strategies adopted by the key players in the digital substation market?
Product launches and development, agreements, partnerships, contracts, acquisitions, and expansions are the strategies adopted by the key players in the digital substation market.
By Module, which segment is expected to dominate the overall market?
The hardware segment is expected to dominate the overall market during the forecast period.
By Type, which segment is expected to grow?
The market for transmission substation is expected to grow at the highest CAGR of 7.4% during the forecast period.
By Installation Type, which segment is expected to grow?
Retrofit installations segment is expected to grow at the highest CAGR of 7.7% during the forecast period.
By Geography, which region is expected to grow?
Asia Pacific region is expected to grow at the highest CAGR of 8.2% during the forecast period.
What are the factors driving the growth of the market?
Due to rapid industrialization through the smart city initiative, companies are investing in digital substations by leveraging various new technologies such as IoT, thereby increasing high growth in the digital substation market.
There is an increasing need for a stable and reliable transmission and distribution network; however, the space availability acts as a hindrance in the establishment of this network. Digital substations enable the reduction of the footprint of a substation because less space is required for protection and control panels, and functions previously executed by physically separate equipment can now be integrated into one device.
What are the factors creating opportunity for the growth of the market?
Renewables are likely to continue moving forward in electricity markets as utilities and regulators prefer them to replacing retiring capacity, and customers increasingly choose them to save costs and address climate change concerns.
What are the factors restraining and challenging the growth of the market?
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.
A digital substation is a highly automated control system where almost all processes of information exchange between substation components, communication with external systems, and control of the substation operation are carried out digitally, which is based on IEC 61850 protocols. The high importance of substations for the operation of power systems places unconditional requirements for their cybersecurity.
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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)
Growth opportunities and latent adjacency in Digital Substation Market
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.
I am currently working in the area of Transmission and Distribution. I wish to explore the opportunities provided by Digital Substation in future.