The infographic below contains key findings from our analysis of the power distribution automation components market
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Overview of the global power distribution automation components market
Research analysis on the global power distribution automation components market identifies that the increasing investments in smart grids will be one of the major factors that will have a positive impact on the market’s growth. The increasing population and urbanization have raised the demand for electricity over the past years and this will increase further in the coming years. To meet the variable demand, power transmission and distribution require numerous automated components that overcome the challenge of minimizing outages in power distribution and increase the overall flexibility of the system such as magnifying balancing areas, increasing the ramping capability of the generation fleet, and increasing energy storage to maintain reliability. Countries such as China, India, the US, Italy, Spain, the UK, and several other countries have budget allocation and regulations to support the infrastructure of smart grids in the respected countries. The investments from different countries will drive the deployment of power distribution automation components during the forecast period. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.
In terms of geographic regions, EMEA will be the major revenue contributor to the power distribution automation components market throughout the forecast period. The increasing investment in smart grids to lower the carbon footprints in the environment and to attain a maximum operational efficiency of the electricity has increased the penetration of power distribution automation components in the region. Additionally, new investments in smart grids and power distribution automation components will also drive the market for power distribution automation components in EMEA.
Competitive landscape and key vendors
The power distribution automation components market consists of few major players. These players are likely to witness intense competition from the emerging market players based on price and types of products as the market is predicted to grow at a faster pace for the smart grid. Major players are making efforts to increase the operational efficiency of the products and diversify the components offering to differentiate from the other competitors.
The leading vendors in the market are -
- ABB
- EATON
- Schneider Electric
- Siemens
- Grid Solutions
The other prominent vendors in the market are Larsen & Toubro, G&W Electric, S&C Electric Company, and Kalkitech.
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Segmentation by components and analysis of the power distribution automation components market
- Protecting and switching components
- Monitoring components
- Measuring components
During 2016, the protecting and switching components segment accounted for the major shares of the power distribution automation components market. Factors such as the introduction of stringent regulations and the increasing investments in power automation will contribute to the growth of this industry segment in the coming years. Switching and protecting components are increasingly used with several types of equipment in the power generation, transmission, and distribution network.
Segmentation by end-user and analysis of the power distribution automation components market
- Industrial
- Commercial
- Residential
As per this market research report, the industrial segment will hold the maximum share of the power distribution automation components market until 2021. The requirement of power distribution automation components from the oil and gas, iron and steel, and mining industries and the rising concern to achieve business efficiency through self-optimized power distribution systems will drive the growth of the power distribution automation components market in the industrial sector.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global power distribution automation components market?
- What are the key market trends impacting the growth of the global power distribution automation components market?
- What are the challenges to market growth?
- Who are the key vendors in the global power distribution automation components market?
- What are the market opportunities and threats faced by the vendors in the global power distribution automation components market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global power distribution automation components market?
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