Digital Substations Markets 2017-2018 Forecast to 2023 by Module, Type, Voltage, Industry and Region - Expected to Reach $9.75 Billion by 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 3, 2018--The “Global Digital Substations Market - by Module, Type, Voltage, Industry, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)” report has been added to ResearchAndMarkets.com’s offering.
The global digital substations market will reach 9.75 billion USD by 2023 from 6.13 billion USD in 2017 with a CAGR of 8.04% during the period.
Increase in demand for electricity and the need to replace aging infrastructure is driving the market growth. Government funding initiatives in collaboration with the private utilities is increasing the installation of digital substations across the globe. However, the high initial investment for setting up the digital substation is restraining the market growth.
Asia-Pacific will grow at a high rate owing to the expanding power distribution networks in countries including India, Singapore, Indonesia, Malaysia, and Taiwan. North America will hold significant share in the market due to increase adoption of digital substations and the presence of well-established players.
Industry Trends & UpdatesLarsen & Toubro Limited announced that the company acquired a power transmission and distribution contract worth USD 817 million from the Government of Qatar to build 30 new substations of varying voltage levels across Qatar. Singapore Power (SP), a private entity of the gas & electricity division of the Singapore Public Utilities Board and General Electric (GE) announced a strategic collaboration with an aim to implement digital substation in the existing infrastructure as a part of SP Centre of Excellence’s SPEAR.
Companies ProfiledABB Group General Electric Siemens Schneider Electric Cisco Systems Honeywell Eaton Emerson Electric NR Electric Larsen & Toubro EFACEC Schweitzer Engineering Tekvel Cadillac Igrid and more...
Key Topics Covered
1. Research Methodology
2. Executive Summary
3. Market Overview
4. Market Dynamics
5. Global Digital Substations Market Segmentation, Forecasts and Trends - by Module
6. Global Digital Substations Market Segmentation, Forecasts and Trends - by Type
7. Global Digital Substations Market Segmentation, Forecasts and Trends - by Voltage
8. Global Digital Substations Market Segmentation, Forecasts and Trends - by Industry
9. Global Digital Substations Market Segmentation, Forecasts and Trends - by Region
10. Company Market Share Analysis
11. Company Profiles
12. Industry Structure
13. Global Digital Substations Market - The Road Ahead
For more information about this report visit https://www.researchandmarkets.com/research/8sb332/digital?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005584/en/
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Related Topics:Smart Grid
INDUSTRY KEYWORD: ENERGY UTILITIES
SOURCE: Research and Markets
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PUB: 10/03/2018 10:43 AM/DISC: 10/03/2018 10:43 AM