Europe Electric Power Distribution Automation Systems Market 2022-2028

Europe Electric Power Distribution Automation Systems Market 2022-2028

MARKET OUTLOOK

Triton Market Research’s study on the electric power distribution automation systems market in Europe estimates the market to grow in revenue, with a CAGR of 6.34% over the forecast years from 2022 to 2028. Germany, Spain, Italy, France, the United Kingdom, and Rest of Europe together make up the market in this region.

The power grid in Germany is among the most reliable ones globally. The nation’s government has made grid extension a priority to maintain this high resilience level. It is also witnessing a continuous growth in renewable power generation, which is leading to an upheaval in the traditional electricity supply chain.

In 2020, renewable energy, mainly obtained from volatile sources and biomass plants, such as solar PV and wind, accounted for more than 45% of the overall power consumption. These renewable sources of energy require high-performance distributors, which is only possible by using automation systems.

Nuclear power plants are the primary source of electricity generation in France. In 2021, they were responsible for more than two-thirds of the total electricity generated. In the same year, hydropower plants stood second in terms of electricity generation sources for, at 10.7%. With nuclear power being the primary electricity source in the country, electric power distribution automation systems are in place. This is expected to further drive the studied market’s growth in the coming years.

COMPETITIVE OUTLOOK

Some of the leading players in the electric power distribution automation systems market include Honeywell International Inc, S&C Electric Company, Schneider Electric, General Electric Company, ABB Ltd, Eaton Corporation plc, and Siemens AG.