The Asia Pacific Automation and Instrumentation In Power Market is expected to witness market growth of 7.4% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Automation and Instrumentation In Power Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $5.45 billion by 2031. The Japan market is registering a CAGR of 6.7% during 2024-2031. Additionally, the India market would witness a CAGR of 8.1% during 2024-2031.
The adoption of automation and instrumentation often leads to cost savings through improved resource utilization, reduced energy consumption, and optimized maintenance schedules. Companies can minimize equipment failures, extend asset lifespan, and lower maintenance costs by implementing predictive maintenance strategies and real-time monitoring systems.
Government regulations and industry standards mandate the adoption of automation and instrumentation technologies to ensure compliance with environmental regulations, safety standards, and grid reliability requirements. Power companies invest in these technologies to meet regulatory obligations, mitigate risks, and avoid penalties associated with non-compliance.
Automation and instrumentation are crucial in enhancing grid resilience and reliability, particularly in the face of increasing grid complexities, cyber threats, and natural disasters. By deploying smart grid technologies, grid operators can improve grid monitoring, response capabilities, and outage management, ensuring uninterrupted power supply to customers.
Automation and instrumentation are smart grids' core components, providing real-time data collection capabilities, advanced analytics, and intelligent control systems. These technologies help optimize grid performance and manage the integration of various power sources, including renewables. As per the State Council of the People's Republic of China, in 2023, China's annual growth in power consumption - a crucial indicator of economic activity - rose by 6.7%.
9.22 trillion kilowatt-hours of power were used last year. The annual rise in power consumption by primary industries was 11.5 percent, but the increases in electricity consumption by secondary and tertiary sectors were 6.5 percent and 12.2 percent, respectively. Hence, increasing electricity consumption and the rising thermal power sector in the region are propelling the market's growth.
The China market dominated the Asia Pacific Automation and Instrumentation In Power Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $5.45 billion by 2031. The Japan market is registering a CAGR of 6.7% during 2024-2031. Additionally, the India market would witness a CAGR of 8.1% during 2024-2031.
The adoption of automation and instrumentation often leads to cost savings through improved resource utilization, reduced energy consumption, and optimized maintenance schedules. Companies can minimize equipment failures, extend asset lifespan, and lower maintenance costs by implementing predictive maintenance strategies and real-time monitoring systems.
Government regulations and industry standards mandate the adoption of automation and instrumentation technologies to ensure compliance with environmental regulations, safety standards, and grid reliability requirements. Power companies invest in these technologies to meet regulatory obligations, mitigate risks, and avoid penalties associated with non-compliance.
Automation and instrumentation are crucial in enhancing grid resilience and reliability, particularly in the face of increasing grid complexities, cyber threats, and natural disasters. By deploying smart grid technologies, grid operators can improve grid monitoring, response capabilities, and outage management, ensuring uninterrupted power supply to customers.
Automation and instrumentation are smart grids' core components, providing real-time data collection capabilities, advanced analytics, and intelligent control systems. These technologies help optimize grid performance and manage the integration of various power sources, including renewables. As per the State Council of the People's Republic of China, in 2023, China's annual growth in power consumption - a crucial indicator of economic activity - rose by 6.7%.
9.22 trillion kilowatt-hours of power were used last year. The annual rise in power consumption by primary industries was 11.5 percent, but the increases in electricity consumption by secondary and tertiary sectors were 6.5 percent and 12.2 percent, respectively. Hence, increasing electricity consumption and the rising thermal power sector in the region are propelling the market's growth.
List of Key Companies Profiled
- Siemens AG
- ABB Group
- Emerson Electric Co.
- Rockwell Automation Inc.
- Omron Corporation
- Honeywell International, Inc.
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Yokogawa Electric Corporation
- Danaher Corporation (Beckman Coulter, Inc.)
Market Report Segmentation
By Instrument
- Field Instruments
- Process Analyzers
By Solution
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Safety Automation Supervisory Control and Data Acquisition (SCADA)
- Human Machine Interaction (HMI)
- Advanced Process Control (APC)
- Manufacturing Execution System (MES)
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 Automation and Instrumentation In Power Market by Instrument
Chapter 6. Asia Pacific Automation and Instrumentation In Power Market by Solution
Chapter 7. Asia Pacific Automation and Instrumentation In Power Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Siemens AG
- ABB Group
- Emerson Electric Co.
- Rockwell Automation Inc.
- Omron Corporation
- Honeywell International, Inc.
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Yokogawa Electric Corporation
- Danaher Corporation (Beckman Coulter, Inc.)
Methodology
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