The major drivers for the market include increasing infrastructure development in smart cities, rise in power demand with space availability, increasing demand for replacing traditional substation infrastructure, and improved safety and reduced maintenance costs.
The voltage segment in the 220–550 kV range is estimated to hold the largest share. The digital substation market for 220–550 kV is expected to grow at the highest CAGR due to its increasing demand from the power utility sector as well as large industrial customers. Several companies such as Larsen & Toubro (India) are awarded a power and distribution contract to build a 220 kV substation in the Middle East for the utility application.
The digital substation market for the transmission substation is expected to grow at the highest rate. The digital substations installed with IEC 61850 compliance are capable of sustaining more bulk power movements and have a longer lifespan. Therefore, investor-owned utilities are spending more on upgrading the transmission substation infrastructure. Hence, the transmission digital substation is expected to grow at a faster CAGR during the forecast period.
Asia Pacific (APAC) held the largest share of the digital substation market. The market in APAC is expected to grow at the highest CAGR during the forecast period. Factors such as building renewables with an energy capacity of 175 GW by 2022 and various initiatives taken by Government of India to improve its power and energy sector to ensure clean energy generation are expected to drive the growth of the market in APAC. The market in APAC is expected to grow at the highest CAGR between 2017 and 2023.
Key market players include ABB Group (Switzerland), Siemens (Germany), General Electric (US), Cisco Systems (US), Schneider Electric (France), Honeywell International (US), Emerson Electric (US), Larsen & Toubro (India), Eaton Corporation (Ireland), and NR Electric (China).
1. Introduction
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1. Drivers
3.1.1. Increasing Infrastructure Development in Smart Cities
3.1.2. Rise in Power Demand With Limited Space Availability
3.1.3. Increasing Demand for Replacing Traditional Substation Infrastructure
3.1.4. Improved Safety and Reduced Maintenance Costs
3.2. Challenges
3.2.1. High Initial Investment
3.2.2. Controlling Cybersecurity Risks
3.3. Opportunities
3.3.1. Growing Demand for Renewable Energy Projects in the Market
3.3.2. Increasing Demand for Battery Technology to Generate Electricity in APAC
4. Executive Summary
5. Digital Substation Device Market, By Module
5.1. Hardware
5.1.1. Transformers
5.1.2. Busbars
5.1.3. Protection devices
5.1.3.1. Circuit breakers
5.1.3.2.Protective relays
5.1.3.3.Switchgears
5.1.4. Interfacing units
5.1.4.1. Human-machine interface
5.1.4.2. Remote terminal units
5.1.4.3. Programmable logic controllers
5.1.5. Others
5.2. Fiber optic communication network
5.3. SCADA systems
6. Digital Substation Device Market, By Type
6.1. Transmission substation
6.2. Distribution substation
7.Digital Substation Device Market, By Voltage
7.1. Upto 220 KV
7.2. 220-550 KV
7.3. Above 550 KV
8.Digital Substation Device Market, By Industry
8.1. Utility
8.1.1. Non-renewables
8.1.2. Renewables
8.2. Metal
8.3. Mining
8.4. Oil and gas
8.5. transportation
9. Digital Substation Device Market, By Region
9.1. North America
9.1.1. US
9.1.2. Canada
9.2. Europe
9.2.1. UK
9.2.2. Germany
9.2.3. France
9.3. Asia Pacific
9.3.1. Japan
9.3.2. China
9.3.3. India
9.4. Rest of the World
9.4.1. Middle East
9.4.2. Africa
9.4.3. South America
10. Company Profiles
10.1.Leading Companies in Digital Substation Device Market
10.1.1. ABB
10.1.2. Siemens
10.1.3. General Electric
10.1.4. Schneider Electric
10.1.5. Honeywell
10.1.6. Cisco
10.1.7. Eaton
10.1.8. Emerson
10.1.9. NR Electric
10.1.10. Larsen & Toubro
10.2.Other Companies in Digital Substation Device Market
*Company introduction, financial information, recent developments, SWOT analysis
11. Conclusion and Recommendations
12. Appendix
12.1.About
12.2.Related Reports
12.3.Glossary
