Discover Global Digital Substations Market Upcoming Trends, Growth Drivers and Challenges – Forecast to 2025
Wiseguyreports.Com Adds ” Digital Substations -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2024″ To Its Research Database
Substations are a part of electrical generation, distribution, and transmission systems. They transform current from high voltage to low voltage and vice versa with the help of transformers. Digital substations comprise the introduction of intelligence into the substation systems. The transformation of the power generation from a wired to an optical network is the reason for the evolution of digital substations. The global digital substations market will reach 10.16 billion USD by 2025 from 6.07 billion USD in 2018 at a CAGR of 7.63% during the period.
Growth by Region
Asia Pacific will grow at a high rate owing to the expanding power distribution networks in countries including India, Singapore, Indonesia, Malaysia, and Taiwan. North America will hold significant share in the market due to increase adoption of digital substations and the presence of well-established players.
Request Free Sample Report at:https://www.wiseguyreports.com/sample-request/3981861-global-digital-substations-market-by-module-type-voltage
Drivers vs Constraints
Increase in demand for electricity and the need to replace aging infrastructure is driving the market growth. Government funding initiatives in collaboration with the private utilities is increasing the installation of digital substations across the globe. However, the high initial investment for setting up the digital substation is restraining the market growth.
Industry Trends and Updates
Larsen & Toubro Limited announced that the company acquired a power transmission and distribution contract worth USD 817 million from the Government of Qatar to build 30 new substations of varying voltage levels across Qatar.
Singapore Power (SP), a private entity of the gas & electricity division of the Singapore Public Utilities Board and General Electric (GE) announced a strategic collaboration with an aim to implement digital substation in the existing infrastructure as a part of SP Centre of Excellence’s SPEAR
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.
Global Digital Substations Market – by Module, Type, Voltage, Industry, Region – Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 – 2025)
1. Research Methodology
2. Executive Summary
3. Market Overview
3.2. Industry Value Chain Analysis
3.3. Porter’s 5 Forces
4. Market Dynamics
9. Global Digital Substations Market Segmentation, Forecasts and Trends – by Region
9.1. North America
9.3. Asia Pacific
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the global.
Ph: +1-646-845-9349 (US)
Ph: +44 208 133 9349 (UK)