Electric Power Distribution Automation Systems Market Forecasts to 2030 – Global Analysis By Implementation (Consumer Side Automation, Feeder Automation and Substation Automation), Component, Application and By Geography

Electric Power Distribution Automation Systems Market Forecasts to 2030 – Global Analysis By Implementation (Consumer Side Automation, Feeder Automation and Substation Automation), Component, Application and By GeographyAccording to Stratistics MRC, the Global Electric Power Distribution Automation Systems Market is accounted for $24.5 billion in 2023 and is expected to reach $41.5 billion by 2030 growing at a CAGR of 7.8% during the forecast period. The monitoring and secure distribution of electricity are made possible by a number of components that make up electric power distribution automation systems. A typical system is made up of a distribution substation that receives electricity from the main station, distributor transformers that reduce the high voltage to distribution levels, as well as other parts including feeders, switches, protective equipment, measuring equipment, and others.

Market Dynamics:

Driver:

Power outages

Utilities need extremely reliable, high-quality power to serve a society that is becoming more and more digital. Power outages can have greater consequences in this digital and automated world. As a result, electrical utilities are using computer monitoring tools, control systems, and management systems more frequently. This lowers operational costs during severe weather and power outages, which is one of the main growth drivers for the global market for electric power distribution automation systems.

Restraint:

Lack of skilled workers and limitations

For smaller utilities or those with budget constraints, installing electric power distribution automation systems can be challenging because they require a sizable upfront investment. These limitations might prevent some areas or businesses from implementing these technologies. Additionally, electric power distribution automation systems need to be installed before fleeing by highly experienced employees, due to the lack of skilled workers in this industry can restrict its application.

Opportunity:

Rising demand for smart and technologies

The market for electric power distribution automation systems is expanding as a result of the rising demand for electricity and the increased need for smart grids. During the forecast period, the market development is anticipated to be supported by the increased adoption of smart cities. Other market-drivers include technological development, aging infrastructure, a growing demand for automation and sophisticated technologies in the distribution of electric power, and a growing need to modernize current networks.

Threat:

Cybersecurity concerns and regulatory challenges

Cyber attacks are more likely as automation systems for electric power distribution grow more interconnected and connected with other systems. This may raise concerns regarding the system's dependability and grid security. The market for automated electric power distribution systems may also be significantly constrained by the regulatory environment. Regulations and standards in various countries may differ, which may prevent some regions or businesses from adopting these systems.

The industrial segment is expected to be the largest during the forecast period

Industrial segment is expected to hold the largest share over the projection period. This is attributable to the growing demand for utilities across the world to build distribution automation technologies in order to improve grid efficiency. Moreover, the rising demand for electric power distribution automation systems in industrial sectors including utilities, marine, oil & gas, and mining & minerals fuels the market's expansion

The substation automation segment is expected to have the highest CAGR during the forecast period

Substation automation segment is expected to have lucrative growth throughout the forecast period. The energy and power utilities' intense focus on reducing distribution and transmission losses has led to a rise in the use of substation automation, which is fueling the market's expansion. Automation of distribution feeders is becoming increasingly necessary as a result of emerging technologies that aim to reduce power outages and improve the effectiveness of the current distribution system. Therefore, to reduce power outages and reduce the impact of using automated distribution feeder systems, private distribution utilities and service providers, governments, and equipment manufacturers are working to integrate their existing technologies and thoroughly develop novel ones through R&D.

Region with largest share:

Due to the increase in manufacturing facilities and the booming expansion of the industrial sector in the Asia Pacific, which is predicted to fuel demand for electric power distribution automation systems, the region held the largest share of the market throughout the projection period. Furthermore, it is projected that demand will increase in the near future due to the growing significance of automation across a number of end-use sectors.

Region with highest CAGR:

Factors such as a growing population, changing lifestyles, and the development of smart cities in China and India, the Asia-Pacific electric distribution automation system market is anticipated to grow rapidly over the extrapolated period. One of the key elements supporting the market's growth is the rising demand for energy in hotels, hospitals, data centers, and corporate offices. The demand for energy efficiency and rapid fault detection in power distribution networks is also rising.

Key players in the market

Some of the key players in Electric Power Distribution Automation Systems market include ABB Ltd, Eaton Corporation plc, Elster Solutions, G&W Electric Company, General Electric Company, Hitachi Ltd, Honeywell International Inc, Hubbell Power Systems, Itron Inc, Mitsubishi Electric Corporation, Oracle Corporation, S&C Electric Company, Schneider Electric, Schweitzer Engineering Laboratories Inc and Siemens AG.

Key Developments:

In July 2023, ABB has completed the divestment of its Power Conversion division to AcBel Polytech Inc. with an enterprise value of $505 million. ABB expects to record a small non-operational book gain in Income from operations on the sale in the third quarter of 2023. With this transaction, ABB has completed all divisional portfolio divestments announced at the end of 2020.

Implementations Covered:
• Consumer Side Automation
• Feeder Automation
• Substation Automation

Components Covered:
• Communication Technology
• Services
• Software
• Field Devices

Applications Covered:
• Residential
• Commercial
• Industrial

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements