The Asia Pacific Substation Automation Market is expected to witness market growth of 6.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Substation Automation Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $5.82 billion by 2031. The Japan market is registering a CAGR of 6% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 7.3% during 2024-2031.
These systems collect data from various sensors and devices within the substation, including temperature, pressure, voltage, and current. This data is then transmitted to centralized control centers, allowing utilities to monitor equipment health and forecast potential failures. The collected data is also used for regulatory compliance reporting and auditing.
Also, they also plays a pivotal role in integrating traditional power grids with modern smart grids. This integration allows for dynamic two-way communication between substations, generation stations, and end users, ensuring better energy distribution, reduced losses, and improved overall grid stability.
India’s steel industry has seen substantial growth, particularly between 2019 and 2023, with a remarkable 6% increase in steel output. This growth is accompanied by rising energy demands from the steel manufacturing sector, which is energy intensive. India is increasingly focusing on modernizing its power infrastructure to meet these demands, including implementing substation automation. In China, the rapid expansion of renewable energy capacity, with 1.06 billion kilowatts of installed capacity by 2021, has led to a significant shift in the energy landscape. With a substantial portion of its electricity now coming from renewable sources, China faces the challenge of integrating these intermittent energy sources into its existing power grid. They plays a key role in this integration process by enabling better management of renewable energy flows, ensuring efficient distribution and balancing of power supply. Hence, India’s expanding steel industry and China’s growing renewable energy sector create strong demand for these solutions.
The China market dominated the Asia Pacific Substation Automation Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $5.82 billion by 2031. The Japan market is registering a CAGR of 6% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 7.3% during 2024-2031.
These systems collect data from various sensors and devices within the substation, including temperature, pressure, voltage, and current. This data is then transmitted to centralized control centers, allowing utilities to monitor equipment health and forecast potential failures. The collected data is also used for regulatory compliance reporting and auditing.
Also, they also plays a pivotal role in integrating traditional power grids with modern smart grids. This integration allows for dynamic two-way communication between substations, generation stations, and end users, ensuring better energy distribution, reduced losses, and improved overall grid stability.
India’s steel industry has seen substantial growth, particularly between 2019 and 2023, with a remarkable 6% increase in steel output. This growth is accompanied by rising energy demands from the steel manufacturing sector, which is energy intensive. India is increasingly focusing on modernizing its power infrastructure to meet these demands, including implementing substation automation. In China, the rapid expansion of renewable energy capacity, with 1.06 billion kilowatts of installed capacity by 2021, has led to a significant shift in the energy landscape. With a substantial portion of its electricity now coming from renewable sources, China faces the challenge of integrating these intermittent energy sources into its existing power grid. They plays a key role in this integration process by enabling better management of renewable energy flows, ensuring efficient distribution and balancing of power supply. Hence, India’s expanding steel industry and China’s growing renewable energy sector create strong demand for these solutions.
List of Key Companies Profiled
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- General Electric Company
- ABB Group
- Emerson Electric Co.
- Eaton Corporation plc
- Cisco Systems, Inc.
- Honeywell International, Inc.
- Texas Instruments, Inc.
Market Report Segmentation
By Type
- Transmission Substation
- Distribution Substation
By Technology
- New
- Retrofit
By Component
- Hardware
- Services
- Software
By End Use
- Utilities
- Transportation
- Steel
- Oil & Gas
- Mining
- Other End Use
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Substation Automation Market by Type
Chapter 6. Asia Pacific Substation Automation Market by Technology
Chapter 7. Asia Pacific Substation Automation Market by Component
Chapter 8. Asia Pacific Substation Automation Market by End Use
Chapter 9. Asia Pacific Substation Automation Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- General Electric Company
- ABB Group
- Emerson Electric Co.
- Eaton Corporation plc
- Cisco Systems, Inc.
- Honeywell International, Inc.
- Texas Instruments, Inc.
Methodology
LOADING...
