Analysis of the Distribution Automation Market, Global Forecast to 2023!

According to the market report published by MarketsandMarkets™ "Distribution Automation Market by Component (Field Device (Smart Meters, Voltage Regulators, and Smart Sensors), Software & Services, Communication Technology (Wired, and Wireless)), Type of Utility (Public, Private), and Region - Global Forecast to 2023", the distribution automation market is expected to grow from an estimated market size of USD 11.82 billion in 2018 to USD 16.81 billion by 2023, at a CAGR of 7.29% from 2018 to 2023. The global market is set to witness significant growth because of the increasing renewable power generation and need for energy efficiency. Advancements in IoT and communication technologies present a significant opportunity for the distribution automation market.

Field Device: The largest segment, by component, during the forecast period

The field device segment is expected to hold the major share of the distribution automation market during the forecast period. Growing investments in refurbishing the ageing infrastructure and government initiatives to promote the use of energy-efficient power generation resources are the major factors driving the distribution automation market in the European region. The European market players, such as ABB, Schneider Electric, and Eaton are involved in the manufacturing of field devices. These factors have resulted in the highest market share of the field device segment in the distribution automation market.

Browse and in-depth TOC on “Distribution Automation Market”

68 - Tables

29 - Figures

134 - Pages

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Scope of the Report:

    By Component

·         Field Device

·         Software & Services

·         Communication Technology

    By Type of Utility

·         Public Utility

·         Private Utility

    By Region

·         Europe

·         North America

·         Asia Pacific

·         South America

·         The Middle East & Africa

The public utility segment accounts for the largest share of the distribution automation market, by type of utility, during the forecast period

The public utility segment is expected to be the largest market for distribution automation, by type of utility, from 2018 to 2023. The factors driving the market for distribution automation in the public utility include significant efforts made by the government to extend the services of public utilities. The grants offered by the government will help in modernizing the grid, which in turn will boost the market for distribution automation.

Asia Pacific: The fastest-growing market for distribution automation

In this report, the distribution automation market has been analyzed on the basis of five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

The distribution automation market in Asia Pacific is driven by countries such as China, India, Japan, and Australia. Rapid industrialization in India, China, and Australia is expected to drive the implementation of distribution automation systems. These countries are increasing renewable power generation to meet their growing energy demand. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of the total global investment for renewable power generation in 2017. Increasing investments in renewable power would drive the market for distribution automation in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the distribution automation market. These include Siemens (Germany), ABB (Switzerland), GE (US), Schneider Electric (France), and Eaton (Ireland). The leading players are trying to expand in developing economies and are adopting various strategies to increase their market shares.  

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Submarine Power Cable Market Comprehensive Insights and Growth Potential In The Future

Overview of Submarine Power Cable Market

The submarine power cable market is estimated to be valued at USD 16.56 billion by 2023, at a CAGR of 15.32% from 2018 to 2023. Submarine power cables are widely used to connect offshore wind farms to mainland grids. Increasing demand for inter-country and island connection and increasing offshore wind installations in UK, Germany, and China are contributing to the growth of the submarine power cable market. Increasing demand for HVDC connections is one of the major opportunities for the submarine power cable market.

Europe is expected to be the fastest-growing market for submarine power cables from 2018 to 2023. The demand for submarine power cables in Europe is driven by the improvement and development of offshore wind technology, which led to new offshore wind capacity additions across various countries in the region.

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UK, Germany, Denmark, and Netherlands are witnessing a significant rise in new capacity addition, which has led to a growth in the demand for submarine power cables. UK and Germany are expected to be the two largest markets for submarine power cables in Europe in 2018. The growth of offshore wind sector in these countries is supported by increasing government initiatives, such as zero bids for offshore in Germany and a full zero subsidy tender in the Netherlands. Moreover, the market is also expected to grow significantly in Denmark and Netherlands, as well as in Finland, France, and Sweden during the forecast period.

The report’s target audience includes:

·         Submarine power cable manufacturing company

·         Industry and consulting firms

·         State and national regulatory authorities

·         Transmission and distribution utilities

·         Government and industry associations

·         Submarine cable associations

The offshore wind power generation segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023. This can be attributed to technology advancements and cost reductions. North America is the fastest-growing market for submarine power cables and offers various business opportunities to submarine power cable manufacturers in the offshore wind power generation segment. High electricity price and high electricity demand, along with the state governments backing for the renewable energy industry, are the main drivers of offshore wind development in North America.

The high voltage segment is expected to be the fastest-growing market, by voltage, from 2018 to 2023. The high voltage submarine power cable ranging above 33 kV is used for grid interconnections and for connecting offshore platforms such as offshore wind generation and offshore oil & gas facilities to the mainland grid. As cable technology advances, more projects are being planned that require longer, deeper, and higher-capacity cables. Hence, UK, Germany, Denmark, and Netherlands are expected to experience a lot of investments in grid interconnections and offshore wind sector in the coming years, which will result in higher market share of the high voltage submarine power cable segment.

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The single core segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023. Single core cables offer many benefits to operators, including easier and cheaper deployment. They are more suitable to cover longer distance as these cables experience lower reverse current when compared to multi-core cables. Upcoming extra-high voltage projects in Asia Pacific, Europe, and North America are expected to drive the segment during the forecast period.

The copper segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023.  Copper has better corrosion resistance than aluminum. Moreover, cables using copper have a smaller cross-section diameter than those using aluminum as copper has higher conductivity and requires a smaller cross-section area for the same current-carrying capability. The submarine power cable market with copper as conductor material is driven by technical factors such as high conductivity and specific weight advantage, which lead to a more efficient cable-laying process and greater stability of cables.

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Wire and Cable Management Market by Product (Trays & Ladders, Raceway, Connectors, Ties, Conduit), Cable Type (Power Cable, Communication Wire & Cable), Material (Metallic and Non-Metallic), End-User, and Region - Global Trends and Forecasts to 2023

Cables and Accessories Market by Voltage (Low, Medium, High), LV by Installation (Overhead (Conductors, Accessories), Underground (PVC, XLPE, Terminations, and Joints)), LV by End-User (Industrial, Renewables), and Region - Global Forecast to 2022

Self-Healing Grid Market Comprehensive Insights and Growth Potential in The Future

The self-healing grid market is estimated to grow at a CAGR of 9.07%, from 2017 to 2022, to reach a projected value of USD 2.66 billion by 2022. A self healing grid is a combination of sensors, automated controls, and advanced software that helps in reducing the occurrence of power outages by identifying faults and taking necessary action. A self-healing grid also utilizes real-time distribution data to identify the fault and isolate the fault area, thus, increasing grid reliability. Modernization of aging grid infrastructure is one of the major opportunities for the self-healing grid market.

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Asia Pacific is expected to be the fastest-growing market for self-healing grid from 2017 to 2022. The growing focus on modernizing the grid, mostly in China and Japan, along with increasing government initiatives in the deployment of new communication technologies in the grid, has led to a growth in the demand for self-healing grid. China and Japan are expected to be the two largest markets for self-healing grid in the region in 2017. Government support for reliable power supply through minimizing the power outage in both countries will drive the self-healing grid market. Moreover, the market is also expected to grow significantly in countries such as India and South Korea during the forecast period. Factors such as enhancing the ability to optimize the energy allocation in the distribution network and integration of new power generation capacity from renewable energy resources are driving the self-healing grid market in India and South Korea.

Scope of the Report:

    By Application

·         Distribution lines

·         Transmission lines

    By Component

·         Hardware

·         Software & Services

    By End-user

·         Public Utility

·         Private Utility

    By Region

·         North America

·         Europe

·         Asia Pacific

·         Rest of the World

Public utility is expected to be the fastest-growing segment of the self-healing grid market from 2017 to 2022, owing to the significant efforts being made by the government to extend the services of public utilities. The grants by the governments will help in modernizing the grid. This will boost the market for self-healing grid. North America and Asia Pacific are the fastest-growing markets for public utility and offer various business opportunities for self-healing grid solution providers in the public utilities segment. Major European companies such as ABB (Switzerland) and Eaton (Ireland) are involved in providing complete self-healing grid solutions. In Asia Pacific, governments are focusing on increasing the contribution of renewable energy sources to meet the domestic electricity demand. This will increase the grid complexity, thereby driving the market of self-healing grid, which helps to minimize the grid complexity.  

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The hardware sub-segment is expected to be the fastest-growing market, by component, from 2017 to 2022. These hardware devices include both sensing as well as communication devices, which are an integral part of the distribution network helping to mitigate the losses occurring from power outage.  The increasing deployment of hardware component in self-healing grid will drive the hardware segment.

About MarketsandMarkets

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

newsletter@marketsandmarkets.com