Distribution Automation Market Forecast to Surpass $36.5 Billion by 2029 with a CAGR of 13.6%

According to a research report "Distribution Automation Market by Offering (Field Devices, Software, Services), Communication Technology (Wired (Fiber Optic, Ethernet, Powerline Carrier, IP), Wireless), Utility (Public Utilities, Private Utilities) and Region - Global Forecast to 2029" published by MarketsandMarkets, the global distribution automation market is estimated to be valued at USD 19.3 billion in 2024 and is projected to reach USD 36.5 billion by 2029; growing at a CAGR of 13.6% during the forecast period. Distribution automation (DA) refers to a collection of technologies, strategies, and practices used by electric utilities to improve the efficiency, reliability, and safety of their power distribution networks. It essentially involves automating various tasks and processes within the distribution system.

The distribution automation market has promising growth potential due to the factors such as increase in need to optimize power distribution, reduce energy waste and improve system performance & increase in need for the integration of renewable energy sources.

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Field Devices segment expected to dominate distribution automation market, by offering, during the forecast period

The distribution automation market, by offerings, are divided into field devices, software & services. With respect to the distribution automation market, the field devices sector is the largest. The benefits it provides is the ability to remotely monitor distribution power grids to shorten the length of power outages, are responsible for its significant market dominance. Equipped with digital controls, switches, and sensors, they automate various electricity delivery functions.

Wireless to witness fastest growth rate in distribution automation market, by communication technology, during forecast period

The distribution automation market, by communication technology, is divided into wired and wireless. Wireless is the fastest-growing segment in Electricity Distribution Automation by communication technology, owing to rising need for real-time data interchange and data-driven decisions. Wireless communication technology also allows information to be transferred over long distances without the use of electrical lines or conductors, providing secure transmission while being cost-effective.

Private utilities to witness fastest growth rate in distribution automation market, by utility, during forecast period

The distribution automation market, by utility, is divided into private utilities and public utilities, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to private companies investing in advanced metering infrastructure, artificial intelligence, and smart grid infrastructure to improve reliability, faster complaint resolution, and real-time energy consumption. With increasing demand and technical developments, the government is looking to private partners to help with power distribution. Private players are viewed as valuable contributions to the sector due to their increased efficiency and experience. Private businesses may greatly contribute to the country's energy infrastructure by collaborating with the government on the Public-Private Partnership model, making distribution more cost-effective and accessible to all.

Middle East & Africa to be fastest-growing distribution automation market during forecast period

In this report, the distribution automation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America and Middle East & Africa. The Middle East and Africa emerge as the most rapidly advancing region in the market, projected to achieve a CAGR of 20.9% during the forecast period from 2024 to 2029. This growth is attributed to several factors, including the expansion of the industrial sector, initiatives to electrify smart cities like NEOM, government efforts to develop smart grid infrastructure, and projects focusing on electrifying rural and remote areas. Moreover, key players such as ABB, Schneider Electric, and Siemens are actively investing in the region to bolster their market presence and capitalize on the rising demand for distribution automation technologies.

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Some of the major players in the distribution automation market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), and General Electric Company (US). Other major players include S&C Electric Company (US), Toshiba (Japan), Landis+Gyr (Switzerland), Itron Inc (US), Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc. (US) and G&W Electric (US). The major strategies adopted by these players include new product launches, contracts, agreements, partnerships, and expansions.

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Trends in the Fuel Cell Market Scope, Global Opportunities, Challenges and key Players by 2028

The global fuel cell market is projected to reach USD 8.7 billion by 2028 from an estimated USD 3.3 billion in 2023, at a CAGR of 21.7% during the forecast period. The growing use of electronic devices in emergency, off-grid, and automotive applications will benefit the fuel cell generator business.

This report segments the fuel cell market based on type into proton exchange membrane fuel cell, solid oxide fuel cell, phosphoric acid fuel cell, alkaline fuel cell, microbial fuel cell and others. Solid Oxide Fuel Cells (SOFCs) stand out due to their prolonged longevity, exceptional efficiency, and straightforward operation. Operating at temperatures reaching 1,000°C, these cells prove ideal for heating systems across commercial, industrial, and residential settings. Moreover, they excel in extracting process heat within power plants and combined heat and power facilities. Their expansive electro-conversion area contributes to their notably high efficiency compared to other fuel cell types. The resultant chemical reaction primarily yields heat and water (H2O) as byproducts, distinguishing SOFCs for their efficacy and minimal environmental impact.

Key Market Players

Prominent companies in this market include

• Bloom Energy (US),
• Doosan Fuel Cell Co., Ltd. (South Korea),
• Aisin Corporation (Japan),
• Plug Power Inc. (US),
• KYOCERA Corporation (Japan) among others...

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Based on the size, the fuel cell market is segmented into small scale, and large scale. Large scale is expected to hold the largest market share during the forecast period. Larger fuel cells can attain greater efficiencies by effectively managing heat and having a more favorable ratio of surface area to volume. This capability allows them to sustain ideal operating conditions more efficiently than smaller cells, leading to an overall enhancement in efficiency.

This report segments the fuel cell market based on application into four categories: portable, stationary, and fuel cell vehicles. Stationary is expected to hold the largest market share during the forecast period. Stationary fuel cells are engineered to supply power in specific, unchanging locations. Their applications encompass backup power generation, primary power production, and combined heat and power generation, serving industries like data centers, utilities, commercial enterprises, households, and more.

Based on end-user, the fuel cell market is segmented into transportation, commercial & industrial, residential, data center, utilities and government/municipal institutes, and military & defense. The transportation is expected to hold the largest market share during the forecast period. Fuel cells are increasingly pivotal in the transportation sector, serving dual purposes: providing primary propulsion power and extending the operational range of electric vehicles. Concerns regarding emissions in transportation are pressing, with a typical passenger car emitting around 4.7 metric tons of CO2 annually. Heavy commercial vehicles, in comparison, emit even more greenhouse gases, emphasizing the urgency to curb automotive emissions, especially in trucks and buses. Countries worldwide have been actively striving to reduce transportation emissions for several years now. Fuel cells, unlike traditional internal combustion engines (ICEs), offer zero emissions and double the efficiency, akin to battery electric drives.

Based on region, the fuel cell market is segmented into North America, Europe, Asia Pacific, and rest of the world. Asia pacific is expected to hold the largest market share during the forecast period. The rapid industrialization, urbanization, and economic growth in the region drive the fuel cell market.

Key Stakeholders

• Ceramic and electrolyte manufacturers
• Environmental research institutes
• Fuel cell and stack manufacturers
• Government and research organizations
• Institutional investors/shareholders
• Power and energy associations
• Repair and maintenance service providers
• Fuel cell technology manufacturing companies
• Organizations, forums, alliances, and associations
• Research and consulting companies
• State and national regulatory authorities

Asia Pacific is expected to be the largest region in the fuel cell market.

Asia Pacific is expected to be the largest fuel cell market during the forecast period. Governments in countries like Japan, South Korea, and China are proactively championing the advancement and integration of fuel cell technology as a pivotal component of their strategies to mitigate carbon emissions and foster the adoption of sustainable energy solutions particularly in Japan and South Korea have made substantial investments in fuel cell technology, directing their efforts towards diverse applications such as transportation and stationary power generation.

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Concentrating Solar Power Market by Technology (Solar Power Tower, Linear Concentrating System, Dish Stirling), Operation Type (Stand-alone, Storage), Capacity (<50 MW, 50-99 MW, 100 MW & Above), End User (Utilities, EOR), Region - Global Forecast to 2027

Cryogenic Equipment Market 2023 Future Growth Explored in Latest Research Report by 2028

According to a research report "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), Cryogen (Nitrogen, Argon, Oxygen, LNG, Hydrogen), End-user Industry (Energy & Power, Chemical, Metallurgy, Transportation), System Type, Application & Region - Forecast to 2028", the global cryogenic equipment market is projected to reach USD 16.6 billion by 2028 from an estimated USD 11.9 billion in 2023, at a CAGR of 6.9% during the forecast period. A cryogenic equipment is any storage or transportation apparatus that helps handle cryogenic fluids (liquefied industrial gases at temperatures below -150ºC). Typical equipment in this category include tanks, pumps, vaporizers, heat exchangers, valves, pressure regulators, and pipes. They are used in various applications, such as the production, storage, and transportation of LNG; preservation of biological materials including human tissues, sperms, and embryos; long-term storage of biological samples such as stem cells, cord blood, and tissues; development of hydrogen fuel systems, particularly for the automotive and transportation industries; as well as cooling scientific instruments on space telescopes and maintaining extremely low temperatures for space probes and vehicles, satellite launch facilities, and air separation units. The cryogenic equipment market is heavily dependent on the consumption of industrial gases that are liquefied for high-volume storage purposes. oxygen, nitrogen, argon, and hydrogen, wherein oxygen and nitrogen are such major industrial gases used across end-user industries for numerous applications. The increasing use of these industrial gases in industries such as energy & power, metallurgy, electronics, chemicals, and transportation is likely to propel the demand for cryogenic equipment. Moreover, growing popularity of liquefied natural gas as source of clean and efficient energy, will boost the demand for cryogenic equipment for the transportation and storage at LNG liquefaction and regasification terminals.

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The Tanks, by equipment, is expected to grow at the highest CAGR during the forecast period.

Based on equipment, the cryogenic equipment market has been split into tanks, valves, vaporizers, pumps and other equipments such as pipes, regulators, freezers, dewars, strainers, samplers, heat exchangers, leak detection equipment, dispensers, and accessories (manifolds, fittings, vacuum-jacketed/-insulated piping, hoses, connections). Tanks are expected to grow at the highest CAGR during the forecasted period. The increasing global demand for LNG tanks and microbulk tanks will be the major reason for the leading position of the tanks segment in this market in the coming years.

The nitrogen segment, by cryogen, is expected to be the largest segment during the forecast period.

This report segments the cryogenic equipment market based on cryogen into six segments: nitrogen, argon, oxygen, liquified natural gas (LNG), hydrogen, and other cryogens (helium, nitrous oxide, ethylene, and carbon dioxide). The nitrogen segment is expected to be the largest segment during the forecast period owing to its high availability in the atmosphere and its inert nature. Nitrogen is widely used in industrial and medical applications, nitrogen is also used in the energy & power industry to enhance oil recovery. It is used in fertilizers and chemical industries as well.

Asia Pacific is expected to be the largest region in the cryogenic equipment market.

Asia Pacific is expected to be the largest cryogenic equipment market during the forecast period. The Asia Pacific region comprises major economies such as China, India, Australia, Japan, Malaysia, and Rest of Asia Pacific. Rest of Asia Pacific primarily includes Thailand, the Philippines, Singapore, Indonesia, and Myanmar. . The high growth rate and market share of the Asia Pacific region can be attributed to constant LNG infrastructure developments in China, investments in the aerospace industry in India, and increasing investments in gas production and LNG imports in Australia and Japan, respectively. The significant demand for cryogenic equipment in the region is witnessed by  end-user industries such as healthcare, metallurgy, energy & power, and electronics.

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Key market players

Some of the major players in the cryogenic equipment market are including Linde plc (Ireland); Air Liquide (France); Air Products and Chemicals, Inc. (US); Chart Industries (US); Parker Hannifin Corp. (US); Flowserve Corporation (US); Nikkiso Co., Ltd. (Japan); and INOX India Limited (India). The major strategies adopted by these players include contracts, agreements, partnership, collaborations, and expansions.

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About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com