Learn details of What the market size will be in 2022 and what will be the growth rate
Scope of the Report:
The Global Electric Power Distribution Automation Systems Market size was valued at USD 13.46 billion in 2015 and is expected to witness a significant growth owing to the surging demand for automation from the utilities sector. The growing electricity demand from commercial units such as hotels, hospitals, data centers, and offices is also anticipated to trigger the adoption of distributed automation solutions so as to avert power outages at these places.
The rapid advancement in process automation and large investment in energy verticals, such as oil & gas, are the key factors driving industry growth. The U.S. market is expected to witness a steady demand over the forecast period owing to the country’s plan to refurbish and improve its existing power infrastructure.
Upcoming technologies for decreasing power outages and increasing efficiency of the existing distribution system are continuously encouraging the requirement for automation of distribution feeders. Hence, private distribution utilities & service providers, governments, and equipment manufacturers are trying to incorporate their prevailing technologies and develop novel ones comprehensively through R&D so as to decline power failures and levy the effect of utilizing automated distribution feeder systems.
The industrial application segment accounted for the largest market share in 2015. This is accredited to the rising need for installing distribution automation systems in utilities across the globe to enhance grid efficiency.
The rising demand for electric power distribution automation systems in industrial sectors such as utilities, marine, oil & gas, and mining & minerals is projected to spur the distribution automation systems market growth over the forecast period.
The need to replace old transmission and distribution power infrastructure is driving the demand for electricity utilities across the Asia Pacific region to strengthen their power infrastructure. Plans of setting up smart cities in countries such as China and India are projected to spur the demand for the incessant supply of electricity.
Furthermore, the growing population, changing lifestyle, and increasing disposable income in developing countries have led to the purchase of more houses, thereby spurring electricity demand.
The market is characterized by an intense competition with the presence of a few major global players holding a significant market share. Moreover, the industry is witnessing consolidation between the key purveyors.
For instance, in 2015, GE acquired the power assets of Alstom to transform its industrial business. At present, the industry is dominated by a few global players, such as ABB Ltd., Eaton Corporation, General Electric, Itron, Inc., Schneider Electric, SEL, and Siemens AG.
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