The Latin America, Middle East and Africa Substation Automation Market is expected to witness market growth of 8.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA 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 $1.46 billion by 2031. The Argentina market is showcasing a CAGR of 9% during 2024-2031. Additionally, the UAE market would register a CAGR of 7.2% during 2024-2031.
The adoption of this is rapidly increasing, driven by the growing need for efficient and reliable energy systems. Utilities are looking to modernize their infrastructure to improve operational efficiency and reliability. They allows quicker responses to changing demands and grid disturbances, which is vital in today’s fast-paced energy environment.
While the initial investment in automation systems can be high, the long-term savings in operational costs, reduced maintenance, and fewer outages offer significant economic benefits. Automation reduces the need for manual inspections and interventions, leading to reduced human error, labor costs, and downtime.
In the UAE, with Abu Dhabi accounting for 96% of the nation’s oil reserves and a daily production of 3.2 million barrels, the power infrastructure constantly demands upgrades and enhancements. The UAE’s ongoing focus on modernizing its energy grid and embracing automation technologies in substations ensures more reliable power distribution, which is crucial for the oil extraction and refining processes. Moreover, Saudi Arabia, with Aramco's second-largest proven oil reserves and significant production, faces similar pressures on its energy infrastructure. As the nation continues to produce over 13.6 million barrels of hydrocarbons per day, the stability and reliability of power systems are critical. They provides the ability to enhance system monitoring, fault detection, and operational responsiveness, which is essential for the continuous and uninterrupted flow of energy. Thus, the UAE and Saudi Arabia’s growing oil production and reserves create a robust demand for advanced substation automation solutions.
The Brazil market dominated the LAMEA 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 $1.46 billion by 2031. The Argentina market is showcasing a CAGR of 9% during 2024-2031. Additionally, the UAE market would register a CAGR of 7.2% during 2024-2031.
The adoption of this is rapidly increasing, driven by the growing need for efficient and reliable energy systems. Utilities are looking to modernize their infrastructure to improve operational efficiency and reliability. They allows quicker responses to changing demands and grid disturbances, which is vital in today’s fast-paced energy environment.
While the initial investment in automation systems can be high, the long-term savings in operational costs, reduced maintenance, and fewer outages offer significant economic benefits. Automation reduces the need for manual inspections and interventions, leading to reduced human error, labor costs, and downtime.
In the UAE, with Abu Dhabi accounting for 96% of the nation’s oil reserves and a daily production of 3.2 million barrels, the power infrastructure constantly demands upgrades and enhancements. The UAE’s ongoing focus on modernizing its energy grid and embracing automation technologies in substations ensures more reliable power distribution, which is crucial for the oil extraction and refining processes. Moreover, Saudi Arabia, with Aramco's second-largest proven oil reserves and significant production, faces similar pressures on its energy infrastructure. As the nation continues to produce over 13.6 million barrels of hydrocarbons per day, the stability and reliability of power systems are critical. They provides the ability to enhance system monitoring, fault detection, and operational responsiveness, which is essential for the continuous and uninterrupted flow of energy. Thus, the UAE and Saudi Arabia’s growing oil production and reserves create a robust demand for advanced substation automation 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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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. LAMEA Substation Automation Market by Type
Chapter 6. LAMEA Substation Automation Market by Technology
Chapter 7. LAMEA Substation Automation Market by Component
Chapter 8. LAMEA Substation Automation Market by End Use
Chapter 9. LAMEA 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
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