Substation Automation Market Size, Share & Industry Analysis, By Component ( Reclose Controller, Programmable logical controller, Capacitor bank controller, Digital transducer/smart meter, Load tap controller, Communication channels, Digital Relays, Others ), By Application ( Ethernet, Power Line Communication, Copper Wire Communication, Optical Fiber Communication ), By Module ( SCADA, IED, Communication Network Technology ) & regional Forecast, 2024-2032

Substation automation is a method of using data from intelligent electronic devices. It refers to controlling and automating the capabilities within the substation and controlling power systems devices through commands from remote users. To make the electricity substations automated, the use of equipment such as specific software, special sensors, and equipment that facilitate two-way communication is entailed. Also, there is the use of intelligent electronic devices such as protective relays, programmable logical control, and a digital transducer. Such type of equipment helps in the monitoring and controlling of substation equipment. Also, with the help of such equipment, the incidences and duration of power outages are reduced.

Based on the component, the market is segmented into a reclose controller, programmable logical controller, capacitor bank controller, digital transducer/ smart meter, communication channels, digital relays, load tap controller, and others. The communication channel is leading the market as it is an integral part of the substation automation as all the IEDs and monitoring devices which are located at the substation. Also, it helps in passing the data that is generated on the field to the utility data center, which is remotely located.

Based on the application, the market is segmented into Ethernet, power line communication, copper wire communication, and optical fiber communication. The copper wire communication segment is anticipated to grow at a significant CAGR of over the forecast period due to its good electrical conductivity and ability to handle a wider load of electrical power.

Based on the Module, the market is subclassified into SCADA, IED, and communication network technology. The SCADA segment is expected to witness significant growth over the forecast period owing to increased reliability, greater customer satisfaction, and improved utilization witnessed over its installation across various industries.

The key market driver of this market is to reduce human intervention and improve the operating efficiency of the system. Also, increasing developments in SCADA and communication technologies along with rising demand for renewable energy projects, drive the market growth.

The key market restraint is the high cost of installation, which has led to a slow rate of investment for substation automation. Another factor that hinders market growth is increasing the number of cyber-attacks, which stands as a significant challenge to the substation automation market.

Key Players Covered:

Some of the major companies in the substation automation market are Schneider Electric, Cisco, ABB, Siemens, GE, Honeywell, Crompton Greaves Consumer Electricals Limited, Schweitzer Engineering Laboratories, NovaTech LLC, Texas Instruments, and Toshiba Corporation.

Regional Analysis:

The global substation automation market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is gaining high market growth due to the increasing popularity and adoption of advanced intelligent electronic device & communication technologies. This is helping the substation automation market growth along with the technology development in the electrical field in countries like the US and Canada. The European countries are emerging as major revenue-generating countries for substation automation markets due to the increasing demand for smart grids and an increase in the adoption of renewable energy. These factors will drive Europe to be the region having the highest growth during the forecast period. In the Asia-Pacific region, countries such as China, Japan, India, Malaysia, and Thailand are some of the leading countries that are focusing on grid stability across their distribution network. Further, Asia Pacific is projected to have a healthy growth during the forecast period owing to the increasing demand for rural electrification and adoption of equipment facilitating safety and better operation of the substation. Also, the presence of companies bringing in advancements in electrical equipment will further add up to the regional growth.

Segmentation

Key Industry Developments

• In October 2019, ReCon secured bidirectional data diode cybersecurity solutions for substations. ReCon is a single box, two-way data diode solution designed to combine the same proven security benefits of a hardware-enforcedv data diode cybersecurity solution with the ability to provide secure round trip, bidirectional communication. ReCon enables organizations to maintain secure two-way connections between networks, including remote command and control between master stations and substations while reducing their attack surface with much higher security assurance than traditional firewalls.


• In October 2019, Andhra Pradesh power substations automated with Power Grid Corporation of India’s help with an objective to strengthen power transmission and distribution systems, the Transmission Corporation of Andhra Pradesh Ltd( APTRANSCO) were mulling upgrading the infrastructure by introducing Substation Automation System(SAS) at the Substations. The power company planned fully automated 400KC substations initially with the help of central power transmission utility, Power Grid Corporation of India Ltd.(PGCIL). It reduced the cost of power generation, maintenance, transmission losses, thereby reducing investment in the distribution network.