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GLOBAL ELECTRIC POWER DISTRIBUTION AUTOMATION SYSTEMS MARKET FORECAST 2022-2030
KEY FINDINGS The global electric power distribution automation systems market is predicted to grow with a CAGR of 6. 59% over the forecast years of 2022 to 2030. The market’s growth is primarily facilitated by the high reliability of distribution automation systems, the increasing requirement for electricity in commercial places, the aging power infrastructure, and the growth in demand for energy efficiency & fault detection.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL ELECTRIC POWER DISTRIBUTION AUTOMATION SYSTEMS MARKET FORECAST 2022-2030" - https://www.reportlinker.com/p06284573/?utm_source=GNW
MARKET INSIGHTS
Electric power distribution systems are vital components of electrical power networks supplying electricity to users. Likewise, automation in distribution systems enables utilities to develop flexible distribution system control, utilized to enhance efficiency, reliability, as well as service quality.
The rise in demand for energy efficiency is a key factor attributable to the growth of electric power distribution automation systems.The automation systems eradicate the exposure of electric equipment’s manual handling, consequently reducing the loss of energy in the process.
Furthermore, the growing use of renewable energy necessitates higher maintenance and increased costs for the present technology usage.As a result, energy efficiency is crucial.
In this regard, real-time monitoring of power usage across the distribution feeder offers data that enables end-users to track energy consumption patterns, assign usage, and allocate accountability to first-line supervisors as well as daily operating personnel, thus minimizing overall costs.
REGIONAL INSIGHTS
The global electric power distribution automation systems market growth analysis comprises the assessment of Europe, North America, Asia-Pacific, and Rest of World. The Asia-Pacific is set to grow with the highest CAGR of 8.34% during the forecasted years. The regional market’s growth is accredited to the rise in electricity demand across developing nations, rapid urbanization in India and China, and economic advancement in rural areas.
COMPETITIVE INSIGHTS
The industry rivalry is very high in the global electric power distribution automation systems market. The market is characterized by intense competition, with several well-established players dominating the industry.
Some of the top players operating in the market are ABB LTD, Siemens AG, Eaton Corporation PLC, General Electric Company, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. ABB LTD
2. EATON CORPORATION PLC
3. G&W ELECTRIC COMPANY
4. GENERAL ELECTRIC COMPANY
5. HITACHI LTD
6. HONEYWELL INTERNATIONAL INC
7. HUBBELL POWER SYSTEMS
8. ITRON INC
9. MITSUBISHI ELECTRIC CORPORATION
10. ORACLE CORPORATION
11. S&C ELECTRIC COMPANY
12. SCHNEIDER ELECTRIC SE
13. SCHWEITZER ENGINEERING LABORATORIES INC
14. SIEMENS AG
Read the full report: https://www.reportlinker.com/p06284573/?utm_source=GNW
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