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Global Digital Substation Market By Industry (Utility, Transportation, Heavy Industries, Others), By Type (Transmission Substation, Distribution Substation), By Region–Forecast & Opportunities to 2026

The global digital substation market accounted for a value of USD 7.9 billion in 2019. Digital substation market projected to register growth at a CAGR of 5.3% during forecast period.

COVID-19 has impacted all the businesses over the globe. Manufacturing units were shutdown and offices were closed. The supply chain of raw material and finished products have been affected severely over the globe due to travel restriction. The demand for various products has declined immensely. The digital substation projects are put on hold due to outbreak of corona virus. This leads to huge decline in market of digital substations in 2020. The market is likely to witness growth in the beginning of 2021.

Definition:

Digital substation is referred to a term used for electrical substation where distributed intelligent electronic devices interconnected with communication networks manage operations. Various industries prefers digital substation for the purpose of providing electrical energy. It provides energy in case defects and faults in technical system.

Market Dynamics (Drivers/Opportunities):

The smart cities can be constructed with smart buildings, smart meters and smart energy. A smart city enables with various software and hardware systems. These systems are used to communicate with each other in order to deliver data in real time.  The rise in smart cities projects is responsible for driving growth in this market during forecast period.

Advanced technologies have been used in energy transmission and energy generation. The utilities are dependent on workers to read meters, manage daily operations of electric grid and examine equipments.  But now, utility systems use smart equipments such as smart meters to monitor status of the grid. It helps in balancing renewable generation with traditional power sources. This is likely to drive growth in digital substation market during forecast period.

Market Insights, by Industry

On the basis of industry, the digital substation market is segmented into utility, transportation, heavy industries and others. The utility segment is estimated to hold largest market share during forecast period.  The utility segment is responsible for the transmission, generation and distribution of electricity. The largest segment of digital substation market is covered by utilities. These factors drive growth in the utilities segment during forecast period.

Market Insights, by Type

On the basis of type, the digital substation market is segmented into transmission substation and distribution substation. The transmission substation is estimated to hold largest market share during forecast period. Transmission substation is responsible for integrating transmission lines with networks. It consists of multiple parallel inter connections through which power can be transmitted easily over long distances. The transmission grids can be called as bulk power systems and it connect two or more transmission lines with same voltages.

Regional Insights

Asia-Pacific region is estimated to be the fastest growing market during forecast period. The modernization in infrastructure of industries is growing in this region. Many private companies have established their plants in this region and investment in power sector by governments is rising rapidly. The digital substations provide solutions which are cost effective and help in meeting demands of electricity. The rapid industrialization and modernization of grid infrastructure in this region is likely to drive growth in Asia-pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in digital substation market are ABB, Siemens AG, General Electric Company, Eaton Corporation Inc, Schneider Electric SE, Cisco System, Emerson Electric Co., Honeywell international Inc., NR Electric, Larsen & Turbo, Locamation, Tesco Automation, Guodian Nanjing Automation Co., TCS Digital, Welotec GMBH and Schweitzer Engineering laboratories.

Segments Covered in the Report

This report forecasts The Global Digital Substation Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global digital substation market report on the basis of type and industries.

Digital substation Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Digital substation Market, By Industry, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Utility
  • Transportation
  • Heavy Industries
  • Others
  1. Digital substation Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Transmission Substation
  • Distribution Substation
  1. Digital substation Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Industry
    • By Type
    • By Country
      • USA
        • By Industry
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Industry
      • By Type
      • By Country
        • Brazil
          • By Industry
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Industry
        • By Type
        • By Country
          • UK
            • By Industry
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Industry
          • By Type
          • By Country
            • China
              • By Industry
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Industry
            • By Type
            • By Country
              • Saudi Arabia
                • By Industry
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Schweitzer Engineering laboratories
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB
    • Siemens AG
    • General Electric Company
    • Eaton Corporation Inc
    • Schneider Electric SE
    • Cisco System
    • Emerson Electric Co.
    • Honeywell international Inc.
    • NR Electric
    • Larsen & Turbo
    • Locamation
    • Tesco Automation
    • Guodian Nanjing Automation Co.
    • TCS Digital
    • Welotec GMBH
  2. Appendix
    • Interrelated Market

 

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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