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Global Smart Digital Substations Market Research Report 2024
Synopsis
Smart digital substation means that the primary electrical equipment in the substation realizes digital communication. The digital primary equipment and the secondary intelligent devices are all data modeled and communicated according to the unified standards of the whole station. Based on intelligent electronic equipment and electronic transformers, the realization of the substation Information sharing and interoperability between internal intelligent electrical equipment, to achieve the effect of digitalization of whole station information, networked communication platform, standardization of information sharing, integration of system functions, compact structure design, intelligentization of high-voltage equipment and visualization of operating status, which can support the power grid Real-time online analysis and control decision-making, thereby improving the reliability and economy of the entire grid operation.
Global Smart Digital Substations market is projected to reach US$ 13370 million in 2029, increasing from US$ 6588 million in 2022, with the CAGR of 12.2% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Smart Digital Substations market research.
Increased R&D expenditure by digital substation solution providers to expand their system product portfolio and integrate useful technology platforms will increase product penetration. Furthermore, adoption of smart and reliable monitoring technologies to increase the life expectancy of electrical infrastructure and favorable programs to protect the living environment will drive the market growth. Rapid digitization and technological upgrades are some of the key factors forcing industry giants to lay the groundwork for a self-generated electricity environment. Rising consumer focus on smart and optimized power infrastructure will create a competitive landscape. In addition, communication technologies can provide effective feedback capabilities, increasing the time to correct faults and fault detection, which in turn has given momentum to the development of substation units. Additionally, these systems have become an indispensable phenomenon for utilities and technology providers working to efficiently monitor power transactions to further simplify load center supply and demand. The integration of renewable energy across mini-grids will facilitate the expansion of the digital substation market, and the incorporation of renewable energy, supported by favorable policies and programs including feed-in tariffs, net metering, and similar incentives, will complement the industry growth. Decentralized microgrid networks coupled with the integration of renewable energy into these networks increases the need for advanced circuit components to maintain different frequencies throughout the network; this will further boost product adoption. Moreover, networks integrated with renewable energy sources generate different wavelength and frequency fluctuations, requiring reliable circuit control and monitoring units, thereby boosting the market.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Smart Digital Substations market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Emerson Electric
ABB
Tesco Automation
SIFANG
General Electric
Eaton
Rockwell Automation
Schneider Electric
Siemens
Atos
Segment by Type
Below 33KV
33KV-110KV
110KV-550KV
Above 550KV
Segment by Application
Power Utility
Industrial
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
The Smart Digital Substations report covers below items:
Chapter 1: Product Basic Information (Definition, type and application)
Chapter 2: Manufacturers’ Competition Patterns
Chapter 3: Production Region Distribution and Analysis
Chapter 4: Country Level Sales Analysis
Chapter 5: Product Type Analysis
Chapter 6: Product Application Analysis
Chapter 7: Manufacturers’ Outline
Chapter 8: Industry Chain, Market Channel and Customer Analysis
Chapter 9: Market Opportunities and Challenges
Chapter 10: Market Conclusions
Chapter 11: Research Methodology and Data Source
Smart digital substation means that the primary electrical equipment in the substation realizes digital communication. The digital primary equipment and the secondary intelligent devices are all data modeled and communicated according to the unified standards of the whole station. Based on intelligent electronic equipment and electronic transformers, the realization of the substation Information sharing and interoperability between internal intelligent electrical equipment, to achieve the effect of digitalization of whole station information, networked communication platform, standardization of information sharing, integration of system functions, compact structure design, intelligentization of high-voltage equipment and visualization of operating status, which can support the power grid Real-time online analysis and control decision-making, thereby improving the reliability and economy of the entire grid operation.
Global Smart Digital Substations market is projected to reach US$ 13370 million in 2029, increasing from US$ 6588 million in 2022, with the CAGR of 12.2% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Smart Digital Substations market research.
Increased R&D expenditure by digital substation solution providers to expand their system product portfolio and integrate useful technology platforms will increase product penetration. Furthermore, adoption of smart and reliable monitoring technologies to increase the life expectancy of electrical infrastructure and favorable programs to protect the living environment will drive the market growth. Rapid digitization and technological upgrades are some of the key factors forcing industry giants to lay the groundwork for a self-generated electricity environment. Rising consumer focus on smart and optimized power infrastructure will create a competitive landscape. In addition, communication technologies can provide effective feedback capabilities, increasing the time to correct faults and fault detection, which in turn has given momentum to the development of substation units. Additionally, these systems have become an indispensable phenomenon for utilities and technology providers working to efficiently monitor power transactions to further simplify load center supply and demand. The integration of renewable energy across mini-grids will facilitate the expansion of the digital substation market, and the incorporation of renewable energy, supported by favorable policies and programs including feed-in tariffs, net metering, and similar incentives, will complement the industry growth. Decentralized microgrid networks coupled with the integration of renewable energy into these networks increases the need for advanced circuit components to maintain different frequencies throughout the network; this will further boost product adoption. Moreover, networks integrated with renewable energy sources generate different wavelength and frequency fluctuations, requiring reliable circuit control and monitoring units, thereby boosting the market.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Smart Digital Substations market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Emerson Electric
ABB
Tesco Automation
SIFANG
General Electric
Eaton
Rockwell Automation
Schneider Electric
Siemens
Atos
Segment by Type
Below 33KV
33KV-110KV
110KV-550KV
Above 550KV
Segment by Application
Power Utility
Industrial
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
The Smart Digital Substations report covers below items:
Chapter 1: Product Basic Information (Definition, type and application)
Chapter 2: Manufacturers’ Competition Patterns
Chapter 3: Production Region Distribution and Analysis
Chapter 4: Country Level Sales Analysis
Chapter 5: Product Type Analysis
Chapter 6: Product Application Analysis
Chapter 7: Manufacturers’ Outline
Chapter 8: Industry Chain, Market Channel and Customer Analysis
Chapter 9: Market Opportunities and Challenges
Chapter 10: Market Conclusions
Chapter 11: Research Methodology and Data Source
Index1 Smart Digital Substations Market Overview
1.1 Product Definition
1.2 Smart Digital Substations Segment by Type
1.2.1 Global Smart Digital Substations Market Value Growth Rate Analysis by Type 2022 VS 2029
1.2.2 Below 33KV
1.2.3 33KV-110KV
1.2.4 110KV-550KV
1.2.5 Above 550KV
1.3 Smart Digital Substations Segment by Application
1.3.1 Global Smart Digital Substations Market Value Growth Rate Analysis by Application: 2022 VS 2029
1.3.2 Power Utility
1.3.3 Industrial
1.4 Global Market Growth Prospects
1.4.1 Global Smart Digital Substations Production Value Estimates and Forecasts (2018-2029)
1.4.2 Global Smart Digital Substations Production Capacity Estimates and Forecasts (2018-2029)
1.4.3 Global Smart Digital Substations Production Estimates and Forecasts (2018-2029)
1.4.4 Global Smart Digital Substations Market Average Price Estimates and Forecasts (2018-2029)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Smart Digital Substations Production Market Share by Manufacturers (2018-2023)
2.2 Global Smart Digital Substations Production Value Market Share by Manufacturers (2018-2023)
2.3 Global Key Players of Smart Digital Substations, Industry Ranking, 2021 VS 2022 VS 2023
2.4 Global Smart Digital Substations Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Smart Digital Substations Average Price by Manufacturers (2018-2023)
2.6 Global Key Manufacturers of Smart Digital Substations, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Smart Digital Substations, Product Offered and Application
2.8 Global Key Manufacturers of Smart Digital Substations, Date of Enter into This Industry
2.9 Smart Digital Substations Market Competitive Situation and Trends
2.9.1 Smart Digital Substations Market Concentration Rate
2.9.2 Global 5 and 10 Largest Smart Digital Substations Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Smart Digital Substations Production by Region
3.1 Global Smart Digital Substations Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.2 Global Smart Digital Substations Production Value by Region (2018-2029)
3.2.1 Global Smart Digital Substations Production Value Market Share by Region (2018-2023)
3.2.2 Global Forecasted Production Value of Smart Digital Substations by Region (2024-2029)
3.3 Global Smart Digital Substations Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.4 Global Smart Digital Substations Production by Region (2018-2029)
3.4.1 Global Smart Digital Substations Production Market Share by Region (2018-2023)
3.4.2 Global Forecasted Production of Smart Digital Substations by Region (2024-2029)
3.5 Global Smart Digital Substations Market Price Analysis by Region (2018-2023)
3.6 Global Smart Digital Substations Production and Value, Year-over-Year Growth
3.6.1 North America Smart Digital Substations Production Value Estimates and Forecasts (2018-2029)
3.6.2 Europe Smart Digital Substations Production Value Estimates and Forecasts (2018-2029)
3.6.3 China Smart Digital Substations Production Value Estimates and Forecasts (2018-2029)
3.6.4 Japan Smart Digital Substations Production Value Estimates and Forecasts (2018-2029)
4 Smart Digital Substations Consumption by Region
4.1 Global Smart Digital Substations Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
4.2 Global Smart Digital Substations Consumption by Region (2018-2029)
4.2.1 Global Smart Digital Substations Consumption by Region (2018-2023)
4.2.2 Global Smart Digital Substations Forecasted Consumption by Region (2024-2029)
4.3 North America
4.3.1 North America Smart Digital Substations Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.3.2 North America Smart Digital Substations Consumption by Country (2018-2029)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Smart Digital Substations Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.4.2 Europe Smart Digital Substations Consumption by Country (2018-2029)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Smart Digital Substations Consumption Growth Rate by Region: 2018 VS 2022 VS 2029
4.5.2 Asia Pacific Smart Digital Substations Consumption by Region (2018-2029)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Smart Digital Substations Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.6.2 Latin America, Middle East & Africa Smart Digital Substations Consumption by Country (2018-2029)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Smart Digital Substations Production by Type (2018-2029)
5.1.1 Global Smart Digital Substations Production by Type (2018-2023)
5.1.2 Global Smart Digital Substations Production by Type (2024-2029)
5.1.3 Global Smart Digital Substations Production Market Share by Type (2018-2029)
5.2 Global Smart Digital Substations Production Value by Type (2018-2029)
5.2.1 Global Smart Digital Substations Production Value by Type (2018-2023)
5.2.2 Global Smart Digital Substations Production Value by Type (2024-2029)
5.2.3 Global Smart Digital Substations Production Value Market Share by Type (2018-2029)
5.3 Global Smart Digital Substations Price by Type (2018-2029)
6 Segment by Application
6.1 Global Smart Digital Substations Production by Application (2018-2029)
6.1.1 Global Smart Digital Substations Production by Application (2018-2023)
6.1.2 Global Smart Digital Substations Production by Application (2024-2029)
6.1.3 Global Smart Digital Substations Production Market Share by Application (2018-2029)
6.2 Global Smart Digital Substations Production Value by Application (2018-2029)
6.2.1 Global Smart Digital Substations Production Value by Application (2018-2023)
6.2.2 Global Smart Digital Substations Production Value by Application (2024-2029)
6.2.3 Global Smart Digital Substations Production Value Market Share by Application (2018-2029)
6.3 Global Smart Digital Substations Price by Application (2018-2029)
7 Key Companies Profiled
7.1 Emerson Electric
7.1.1 Emerson Electric Smart Digital Substations Corporation Information
7.1.2 Emerson Electric Smart Digital Substations Product Portfolio
7.1.3 Emerson Electric Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.1.4 Emerson Electric Main Business and Markets Served
7.1.5 Emerson Electric Recent Developments/Updates
7.2 ABB
7.2.1 ABB Smart Digital Substations Corporation Information
7.2.2 ABB Smart Digital Substations Product Portfolio
7.2.3 ABB Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.2.4 ABB Main Business and Markets Served
7.2.5 ABB Recent Developments/Updates
7.3 Tesco Automation
7.3.1 Tesco Automation Smart Digital Substations Corporation Information
7.3.2 Tesco Automation Smart Digital Substations Product Portfolio
7.3.3 Tesco Automation Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.3.4 Tesco Automation Main Business and Markets Served
7.3.5 Tesco Automation Recent Developments/Updates
7.4 SIFANG
7.4.1 SIFANG Smart Digital Substations Corporation Information
7.4.2 SIFANG Smart Digital Substations Product Portfolio
7.4.3 SIFANG Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.4.4 SIFANG Main Business and Markets Served
7.4.5 SIFANG Recent Developments/Updates
7.5 General Electric
7.5.1 General Electric Smart Digital Substations Corporation Information
7.5.2 General Electric Smart Digital Substations Product Portfolio
7.5.3 General Electric Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.5.4 General Electric Main Business and Markets Served
7.5.5 General Electric Recent Developments/Updates
7.6 Eaton
7.6.1 Eaton Smart Digital Substations Corporation Information
7.6.2 Eaton Smart Digital Substations Product Portfolio
7.6.3 Eaton Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.6.4 Eaton Main Business and Markets Served
7.6.5 Eaton Recent Developments/Updates
7.7 Rockwell Automation
7.7.1 Rockwell Automation Smart Digital Substations Corporation Information
7.7.2 Rockwell Automation Smart Digital Substations Product Portfolio
7.7.3 Rockwell Automation Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.7.4 Rockwell Automation Main Business and Markets Served
7.7.5 Rockwell Automation Recent Developments/Updates
7.8 Schneider Electric
7.8.1 Schneider Electric Smart Digital Substations Corporation Information
7.8.2 Schneider Electric Smart Digital Substations Product Portfolio
7.8.3 Schneider Electric Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.8.4 Schneider Electric Main Business and Markets Served
7.7.5 Schneider Electric Recent Developments/Updates
7.9 Siemens
7.9.1 Siemens Smart Digital Substations Corporation Information
7.9.2 Siemens Smart Digital Substations Product Portfolio
7.9.3 Siemens Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.9.4 Siemens Main Business and Markets Served
7.9.5 Siemens Recent Developments/Updates
7.10 Atos
7.10.1 Atos Smart Digital Substations Corporation Information
7.10.2 Atos Smart Digital Substations Product Portfolio
7.10.3 Atos Smart Digital Substations Production, Value, Price and Gross Margin (2018-2023)
7.10.4 Atos Main Business and Markets Served
7.10.5 Atos Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Smart Digital Substations Industry Chain Analysis
8.2 Smart Digital Substations Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Smart Digital Substations Production Mode & Process
8.4 Smart Digital Substations Sales and Marketing
8.4.1 Smart Digital Substations Sales Channels
8.4.2 Smart Digital Substations Distributors
8.5 Smart Digital Substations Customers
9 Smart Digital Substations Market Dynamics
9.1 Smart Digital Substations Industry Trends
9.2 Smart Digital Substations Market Drivers
9.3 Smart Digital Substations Market Challenges
9.4 Smart Digital Substations Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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