Distribution Automation Market to reach USD 19.47 billion by 2028 Increasing Demand from Residential, Commercial, and Industrial Sectors to Sustain…

Fortune Business Insights

Companies in the Distribution Automation Market are 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.)

Pune, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The 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.

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Companies Operating in Distribution Automation 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.)

Report Scope & Segmentation

Report Coverage

Details

Forecast Period

2021 to 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 to 2019

No. of Pages

190

Segments covered

Utility, Component, and Region

Growth Drivers

Upgrade of Aging Power Stations to Bolster Market Growth

Asia Pacific to Witness Dominant Market Growth due to Rapid Urbanization

Novel Product Launched to Help Dominant Players Fortify their Current Market Positions

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Story continues

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.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/distribution-automation-market-106350

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.

Report Coverage

The distribution automation market study offers an in-depth analysis of the industry in terms of segments and subsegments. 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.

Drivers & Restraints

Upgrade of Aging Power Stations to Bolster Market Growth

Rising demand for electricity and grid infrastructures is expected to open new revenue opportunities for the market during the forecast period. Increasing demand from residential, commercial, and industrial sectors and rising technological adaption will further increase the footprint of the market. Also, increasing instances of upgradation of power distribution systems will boost the growth of the market.

However, high installation costs are expected to limit the distribution automation market growth during the forecast period. Also, rising technical complexities will further hinder the market growth.

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.

Table of Contents

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

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Distribution Automation Market to reach USD 19.47 billion by 2028 Increasing Demand from Residential, Commercial, and Industrial Sectors to Sustain...