Asia-pacific Electric Power Distribution Automation Systems Market 2022-2028
MARKET OUTLOOK
A report by Triton Market Research indicates that the market for electric power distribution automation systems in the Asia-Pacific would grow with 8.77% of CAGR during the forecast years from 2022 to 2028.
India, Japan, South Korea, China, Australia, ASEAN countries, and Rest of Asia-Pacific together form the market in this region. In India, the power distribution sector has started to receive greater attention and higher investment owing to the restructuring of the state electricity boards. The government has introduced several new initiatives to reduce aggregate technical & commercial losses along with a well-defined regulatory framework.
The Electricity Act 2003, the National Electricity Policy 2005, and the National Tariff Policy 2006 are the important regulations that govern this sector with the aim of increasing competition among players, and thereby improving the services for the end-users.
The Indian government has also invested heavily in the distribution sector through the APDRP and RGGVY during the Tenth and Eleventh Five-Year Plans as well. The objective of these programs was to provide everyone with access to electricity and bring down the AT&C losses to nearly 15% across the nation. Also, the participation of private companies in the distribution sector has also been encouraged. All these factors show an overall positive outlook for the electric power distribution automation systems market in India.
COMPETITIVE OUTLOOK
The distinguished names in the electric power distribution automation systems market are Siemens AG, Schweitzer Engineering Laboratories Inc, Eaton Corporation plc, General Electric Company, ABB Ltd, G&W Electric Company, and Hubbell Power Systems.
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