Digital Substation Market worth 8.42 Billion USD by 2022
According to this new market research report “Digital Substation Market by Module (Hardware, SCADA, & Fiber Optics Communication Network), Voltage (Below 66kV, 66kV–220kV, 220–550kV, & Above 550kV), Type (Transmission & Distribution), Industry, & Geography – Global Forecast to 2022″, The digital substation market was valued at USD 5.24 billion in 2015 and is estimated to reach at USD 8.42 billion by 2022, growing at a CAGR of 6.8% between 2016 and 2022. Factors such as growing demand for low-cost and more flexible solutions, modernization of digital substations, and use of smart grid technology in plug-in hybrid vehicles are driving the growth of the digital substation market.
Browse 70 market data Tables and 66 Figures spread through 167 Pages and in-depth TOC on “Digital Substation Market – Global Forecast to 2022″.
Download Free PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=43227003
Early buyers will receive 10% customization on this report.
Utility expected to hold the largest market share during the forecast period
The utility sector held the largest share of the digital substation market in 2015, followed by the oil & gas sector, and the same trend is expected during the forecast period. The growth in the digital substation market for the utility industry can be attributed to the increase in demand for renewables, mainly wind and solar, which are also pricing out traditional power generation resources.
The market for transmission substations expected to grow at the highest CAGR between 2016 and 2022
With the increase in demand for electricity, the demand for the replacement of aging infrastructure for power delivery systems is also rising. The existing infrastructure cannot sustain the bulk power movements or inferior standards. Due to inferior standards, the chances of power outages are gradually increasing. Therefore, investor-owned utilities are spending more on upgrading transmission substation infrastructure. The market for transmission substations is expected to grow at a CAGR of 6.9% between 2016 and 2022.
The digital substation market in APAC likely to grow at a high CAGR during forecast period
Several initiatives have been taken up by the Government of India to improve its power and energy sector, which is one of the major factors supporting the growth of the digital substation market in APAC. Plans to build renewables with an energy capacity of 175GW by 2022, several schemes organized to revive distribution in utilities, and village electrification programs, among others, are some of the initiatives taken up by the Government of India.
Request Sample @ http://www.marketsandmarkets.com/requestsample.asp?id=43227003
Major players operating in the digital substation market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Cisco systems, Inc. (U.S.), Schneider Electric (France), Honeywell International Inc. (U.S.), Emerson Electric (U.S.), Larsen & Toubro (India), Eaton Corp.,(Ireland), and NR Electric Co., Ltd (China), among others.
Contact:
Mr. Rohan
MarketsandMarkets
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel: 1-888-600-6441
Email: [email protected]
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).