Pune, India, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global distribution automation market size was USD 10.89 billion in 2020. The market is projected to grow from USD 11.63 billion 2021 to USD 19.47 billion in 2028 at a CAGR of 7.6% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Distribution Automation Market, 2021-2028.”
Factors, such as the ability to provide real-time operational notifications and perform demand optimization and asset optimization, will boost the market during the forecast period. Increasing demand from residential, commercial, and industrial sectors to sustain growth during forecast period.
List of Key Players Present in the Market
- Siemens (Germany)
- Schneider Electric (France)
- S&C Electric Company (U.S.)
- Eaton (Ireland)
- GE (U.S.)
- Mitsubishi Electric (Japan)
- Schweitzer Engineering Laboratories (SEL) (U.S.)
- ABB (Switzerland)
- G&W Electric Co. (U.S.)
- Toshiba (Japan)
- Hubbell (U.S.)
- Hitachi (Japan)
- Itron (U.S.)
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 TO 2028 CAGR | 7.6% |
| 2028 Value Projection | USD 19.47 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 10.89 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 190 |
| Segments covered | Utility, Component, Region |
| Growth Drivers | Exponential Increase in Global Electricity Demand and Grid Infrastructures |
| Upgrade of Aging Power Distribution Infrastructure |
COVID-19 Impact:
Pandemic-related Disruptions to Slow Down Market Growth
The COVID-19 pandemic slowed down distribution automation market growth significantly, leading to substantial revenue losses. Automation solutions providers and device manufacturers experience numerous challenges, including difficulties in obtaining raw materials and components required for production. These factors led to several supply chain delays. In addition the aforementioned factors, stringent lockdown regulations impacted the demand for distribution automation solutions considerably.
Highlights of Report:
The distribution automation market study offers an in-depth analysis of the industry in terms of segments and sub segments. Furthermore, the study aims to justify and highlight the highest demand of all present segmentation presumed while compiling the study. Factors such as trends, drivers, opportunities, threats, and restraints surrounding the market are discussed in the report. The report also offers a detailed list of the dominant players in the market along with their accompanying strategies.
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Market Drivers
Rising Industrialization to Propel Market Growth
The market is expected to witness significant growth in the coming years owing to the development initiatives proposed by the government in developing regions. The government from different countries is planning to replace the aging plants which are expected to boost product demand and increase productivity and profitability for the key players. Rising industrialization in emerging nations is anticipated to bolster market growth and maintain market value for the product globally. These factors are likely to ensure synchronous condenser market growth during the projected period.
Regional Insights:
Asia Pacific to Witness Dominant Market Growth due to Rapid Urbanization
Asia Pacific will occupy the largest distribution automation market share during the forecast duration owing to rising investment avenues for smart grid projects. Additionally, factors such as rapid urbanization and rising consumer awareness towards green energy will fuel the growth of the market share.
North America will contribute a significant value due to technological advancements in IoT and other communication based systems. Also, increasing presence of the dominant players for the distribution automation sector will boost the market growth.
Europe is expected to contribute a significant market share during the forecast period owing to rising investments opportunities in grid expansion projects coupled with the rising complexity towards power distribution infrastructure to name a few.
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Competitive Landscape
Novel Product Launched to Help Dominant Players Fortify their Current Market Positions
The distribution automation sector is extremely competitive and fragmented with many key players trying to operate using various strategies in order to gain a competitive advantage. The industry is often striving to come up with new innovations as fault indicators, smart relays, automated feeder reclosers, automated capacitors, and voltage regulators on a regular basis. For example, in June 2021, S&C Electric Company announced the launching of their newly redesigned Vista Underground Distribution Switchgear for supporting visible sustainability goals. Ratings for 38 kV and 25 kA are available in this product.
Industry Development
- July 2020: Schweitzer Engineering Laboratories (SEL) launched a system-hardening solution to improvise the security of electric power protection and control systems. With these solutions, Cyber Services will have the ability to evaluate the systems against NIST cybersecurity framework.
Segments:
Utility, Component, and Region are studied for the Market
- On the basis of utility, the market is divided into private utility & public utility.
- By component, the market is branched across field devices, software, and services.
- In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancements
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Distribution Automation Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by the Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Distribution Automation Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Utility
- Public
- Private
- Market Analysis, Insights and Forecast – By Component
- Field Devices
- Software
- Services
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Distribution Automation Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Utility
- Public
- Private
- Market Analysis, Insights and Forecast – By Component
- Field Devices
- Software
- Services
- Market Analysis, Insights and Forecast – By Country
- U.S. Market Analysis, Insights and Forecast – By Utility
- Public
- Private
- Canada Market Analysis, Insights and Forecast – By Utility
- Public
- Private
- U.S. Market Analysis, Insights and Forecast – By Utility
Continued…
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