New York, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Distribution Feeder Automation System Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Distribution feeder automation system Market Research Report, Type and End Use and Region - Forecast till 2030”, the market is projected to be worth USD 7.85 Billion by 2030, registering a CAGR of 8.2% during the forecast period (2022 - 2030).
List of the companies profiled in the distribution feeder automation system market research report include –
- ABB (Switzerland)
- Schneider
- Electric (France)
- Siemens (Germany)
- G&W Electric (US)
- Schweitzer Engineering Laboratories Inc (US)
- Eaton (Ireland)
- Advanced Control Systems Inc (US)
- Cisco (US)
- Moxa Inc (Taiwan)
- Crompton Greaves Ltd (India)
- General Electric (US)
- others.
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The distribution feeder automation system market is both fragmented and as well competitive for the presence of various international & also domestic key players. The players have incorporated several innovative strategies to stay at the vanguard and also cater to the burgeoning need of the customers including contracts, collaborations, joint ventures, partnerships, new product launches, geographic expansions, and more. Also, they are investing in different research and development activities.
Market Research Future’s Review on Distribution feeder automation system Market
COVID-19 Analysis on Distribution Feeder Automation System Market
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the distribution feeder automation system market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption.
Browse In-depth Market Research Report (188 pages) on Distribution Feeder Automation System
https://www.marketresearchfuture.com/reports/distribution-feeder-automation-system-market-8730
Market Drivers
Decrease in Electricity Cost to Boost Market Growth
The decrease in electricity cost with improved reliability and efficiency, renewable energy integration, and increased power consumption will boost market growth over the forecast period.
Market Opportunities
Rapidly Increasing Charges to offer Robust Opportunities
The rapidly increasing charges of electricity merged with the integration of renewable energy sources will offer robust opportunities for the distribution feeder automation system market over the forecast period.
Besides, the need for reliability and enhanced efficiency in power distribution, the implementation of smart grid technology globally, the increasing electricity prices, the high consumption of electricity, integration of renewable energy sources, increasing energy demand, growing investment in automation to make feeder distribution more cost effective, intelligent, and efficient, the need to attain faultless and uninterrupted power supply, the need for improved reliability and efficiency in power distribution, and the need to improve the power distribution network are also adding market growth.
Market Restraints and Market Challenges
Complex Architecture to act as Market Restraint
The complex architecture coupled with the irregularities in the outage-reporting particularly in dense regions may act as market restraint over the forecast period.
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Distribution Feeder Automation System Market Segmentation
The distribution feeder automation system market has been bifurcated based on product and application.
By product, the software segment will lead the market over the forecast period as many end users are integrating the software with the existing infrastructure. It is likely to grow at a high CAGR due to the growing adoption of automation technology in the utility sector.
By application, the commercial segment will dominate the market over the forecast period at a favorable CAGR for the increasing need for reliable power supply from the segment.
Distribution Feeder Automation System Market Regional Analysis
North America to Remain Forerunner in Distribution Feeder Automation System Market
North America will remain the forerunner in the distribution feeder automation system market over the forecast period. Increasing need for constant and reliable power supply, automation integration in the region growing at a tremendous pace as this increases the performance and reliability of the utility, the increasing installations of renewable energy sources for power generation, & increasing adoption in the US for the increasing adoption of automation systems in the country are adding to the global distribution feeder automation system market growth in the region. Besides, increasing activities revolving around smart grid infrastructure, increasing need for reliable and continuous power supply, and the presence of advanced utility infrastructure & upgrade activities are also adding market growth in the region. The US followed by Canada holds the utmost market share.
APAC to Have Remarkable Growth in Distribution Feeder Automation System Market
The APAC region will have remarkable growth in the distribution feeder automation system market over the forecast period. Large public utility sector, increasing demand for energy, India and China being the largest users of the distribution feeder automation systems in the region, new potential industries in Japan, India, and China, among others, utmost demand in China for the growing need for electricity, India growing at a fast pace for the increasing industrialization in the country thus leading to higher adoption of automation systems, and increasing investments in smart grids are adding to the global distribution feeder automation system market growth in the region. Besides, the rising primary energy consumption, rising infrastructural development activities, major electrification projects in the region, and the industrial output growing at a tremendous pace are also adding to the market growth in the region.
Segmentation of Market covered in the research:
Distribution Feeder Automation System Market Research Report Information: by Product (Hardware, Software, and Services), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
