North America Electric Power Distribution Automation Systems Market 2022-2028
MARKET OUTLOOK
According to Triton Market Research, the North America electric power distribution automation systems market is anticipated to develop with a CAGR of 6.34% in the estimated period from 2022 to 2028. The United States and Canada together constitute the market in this region.
The growing popularity of smart homes in the United States can be largely attributed to factors such as enhanced consumer convenience, safety, and security. In addition, the growing demand for energy-efficient living is increasing the importance of electricity distribution automation systems. The national government offers financial aid for energy-efficient construction. The growing application of smart electrical grids and smart meters as a part of the government’s energy efficiency initiatives are the major drivers for the electric power distribution automation systems market in the US.
Canada’s network consists of high-voltage lines of more than 160,000 kilometers. In Canada, operators have been given the task of integrating more intermittent power generation from renewable sources and incorporating smarter grid systems. Furthermore, the Canadian electricity industry comprises establishments that are mainly engaged in distributing electric power to individual users. The systems for electric power distribution include dedicated generation stations, distribution lines, and transformer stations that are crucial for power distribution. These factors are expected to support the growth of the studied market in Canada in the coming years.
COMPETITIVE OUTLOOK
Hitachi Ltd, Hubbell Power Systems, General Electric Company, Eaton Corporation plc, G&W Electric Company, and Oracle Corporation are some of the noteworthy companies in the electric power distribution automation systems market.
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