Global Electric Power Substation Automation Market Will See A Capital Expenditure (Capex) Of $38,881mn In 2018
03 August 2018
Visiongain’ has launched a new energy report The Electric Power Substation Automation Market : Forecast and Analysis By Type (Transmission & Distribution), By Module (SCADA, IEDs & Communication Networks) AND By Region PLUS Profiles of Leading Companies in the Electric Power Substation Automation Market
Electric Power Substation Automation systems enable the electric utilities to remotely monitor, control and protect the distribution components in the substation to ensure reliable and improved power supply with increased safety regulations. The technology uses a real-time information from the system to identify critical faults across the electricity network, analyse and control the faults and finally display the information.
The rising demand for reliable and continuous electricity supply among the consumers has raised an alarming need towards the modernization of existing grid infrastructure. The rapid growth in the population has led to increased congestion and stress on the existing grid resulting in an unbalanced and inefficient supply of electricity among the consumers; the bulk of them affected with lack of electricity supply.
Substation automation is expected to be a major solution for ageing grid infrastructure as they can reduce the burden on existing utilities by monitoring and controlling critical faults across the electricity network. Despite these advantages, the technology has experienced a low adoption owing to high cost of installation and lack of technical expertise.
The visiongain report analyst commented “Electric Power Substation Automation market is expected to witness a high growth on account of ongoing government plans toward expansion of transmission and distribution network. Increasing measures by the government to facilitate efficient and reliable electrification benefits and decentralised electricity supply will boost the demand for Electric Power Substation Automation globally. Measures toward grid prevention and blackouts will further embellish the demand for automation across substations. In addition, government aim to provide reliable and continuous electric supply will positively impact the product penetration over the coming years.”
Leading companies featured in the report who are developing the Electric Power Substation Automation are ABB Ltd., General Electric, Eaton Corporation, Siemens, Schneider Electric, Crompton Greaves Limited, Honeywell International, Larsen and Toubro Limited, Toshiba Corporation and Cisco Systems, Inc.
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