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$7 Billion Worldwide Digital Substation Industry to 2027 - Impact of COVID-19 on the Market

·3 mins read

DUBLIN, Oct. 15, 2020 /PRNewswire/ -- The "Digital Substation - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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The publisher brings years of research experience to the 8th edition of this report. The 135-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Digital Substation Market to Reach $10.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Digital Substation estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$10.9 Billion by 2027, growing at a CAGR of 6.4% over the analysis period 2020-2027.

Up to 220 kV, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$2.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 220 to 550 kV segment is readjusted to a revised 6.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 6.1% CAGR

The Digital Substation market in the U.S. is estimated at US$2.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2027 trailing a CAGR of 6.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.

Above 550 kV Segment to Record 5.3% CAGR

In the global Above 550 kV segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$532.3 Million in the year 2020 will reach a projected size of US$766.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2027.

Competitors identified in this market include, among others:

  • ABB Ltd.

  • Cadillac Automation and Controls

  • Cisco Systems, Inc.

  • Eaton Corporation PLC

  • Emerson Electric Co.

  • General Electric Company

  • Honeywell International, Inc.

  • Igrid T& D

  • I-Tor

  • Larsen & Toubro Ltd.

  • NR Electric Co., Ltd.

  • Schneider Electric SA

  • Siemens AG

  • TEKVEL Ltd.

  • Yamal LNG

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Global Competitor Market Shares

  • Digital Substation Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 31

For more information about this report visit https://www.researchandmarkets.com/r/jm6n6o

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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View original content:http://www.prnewswire.com/news-releases/7-billion-worldwide-digital-substation-industry-to-2027---impact-of-covid-19-on-the-market-301153297.html

SOURCE Research and Markets