Chat with us, powered by LiveChat

Benefits of DAS: Investments in Electric Power to push Market Growth

ICT

17, June 2022

Electric power distribution systems form an important part of electric power systems as they deliver electricity to end-users. The implementation of automation for power distribution enables utilities to manage these systems more effectively, which helps improve the quality, efficiency, and reliability of electric services.

Our experts at Triton estimate the global electric power distribution automation systems market to grow at a CAGR of 7.05% during the years 2022-2028. The enhanced demand for energy efficiency primarily drives the increasing demand for electric power distribution automation systems (DAS).

Growth Contributors in the Electric Power DAS Market


Aging Power Infrastructure Calls for DAS Adoption

Today’s highly technologically advanced world demands continuous and stable power supply. However, the old, existing infrastructures in several parts of the world are not equipped to handle the increasing power demand and load. According to the United States’ Department of Energy, nearly 70% of the transmission and distribution lines across the country are more than 25 years old.

Any power interruption due to an aged infrastructure has far-reaching consequences across all consumer domains. Keeping up with the rising electricity consumption necessitates large investments for the modernization of existing infrastructure and replacement of old facilities, which, in turn, helps optimize the energy generation and distribution processes.

Increased Investment for Smart Grids

A smart grid incorporates advanced instrumentation and digital technology into a traditional electrical system. DAS help a smart grid function more effectively, by reducing the likelihood of failure, making it resilient to extreme weather conditions, and lowering operational costs. This helps utilities to reduce electricity losses, and thus lessen consumer inconvenience. Investments for smart grid development have increased in recent times, which is expected to foster the market’s growth.

Market Segmentation Analysis

The report assesses the electric power distribution automation systems market’s growth on the basis of end-user and implementation.

The end-user segment is categorized into industrial, residential, and commercial.

Industrial is expected to witness the fastest growth in the forecasted period at 7.36%. The segment is highly dependent on efficient power flow for effective manufacturing, management, and other activities. Power consumption across this sector and electrical leakage in the circuit can be tracked with the help of comprehensive technologies like distribution automation systems. System handling personnel can use this data to operate the machinery in a way that reduces electric power usage.

The implementation segment consists of substation automation, feeder automation, and consumer automation.

Substation automation leads the implementation segment with $13686.30 million in 2021. It is used to automate some tedious and error-prone activities so as to boost a system’s overall productivity. Canada-based Hydro-Québec is one of the leading names in this space, and has been working on the automation of substations for more than five years.

Strategic Developments back Regional Market Growth

  • In North America, the demand for automation systems for electric power distribution has risen considerably due to the increase in energy consumption by end-users and the presence of leading market players.

  • In March 2022, Itron Inc joined forces with Utilismart Corporation, which supplies meter data management-driven analytics, with a view to offer end-to-end solutions to electric utilities in the US and Canada. 


  • In the Asia-Pacific, the growing population, industrial growth, development of commercial places, and improved electricity access in rural areas have increased the consumption of electricity, thereby driving the market growth.

  • In June 2021, Eaton acquired a 50% stake in China-based Jiangsu Yineng Electric’s busway business. This acquisition is expected to help the company consolidate its market standing, while expanding its power distribution product portfolio in the APAC region.

To conclude

The demand for electricity is growing rapidly worldwide, and is expected to surge even further in the coming future, as concepts like smart homes and smart cities take shape. This will necessitate the deployment of automation systems for power distribution on a massive scale.

Moreover, several companies active in the energy technology sector have increased their total annual R&D expenditure by as high as 40% since 2010. This has drawn the attention of numerous electric power distribution companies, and is thereby expected to support the electric power distribution automation systems market growth.

Frequently Asked Questions (FAQs):


Q 1) Which is expected to be the fastest-growing region in the studied market?

The Asia-Pacific region is expected to grow the fastest in the global market for electric power DAS, with a CAGR of 8.77%.

Q 2) Which are the leading companies in the electric power DAS market?

Some of the leading players in the electric power DAS market include Eaton Corporation plc, General Electric Company, Schneider Electric, ABB Ltd, Oracle Corporation, Itron Inc, Schweitzer Engineering Laboratories Inc, Siemens AG, S&C Electric Company, Hubbell Power Systems, Mitsubishi Electric Corporation, Hitachi Ltd, G&W Electric Company, and Honeywell International Inc.

Comments
Reviews

Trending Industry Blogs

The Global Biometric Technology Market is Uncovering Deceptions In A Smarter Way

Prevalent cases of terrorist attacks in today’s world is increasing the need for severe standards of security for public safety, and the global market for biometric technology scrupulously accommoda..

05, April 2019

ICT

Trending Blogs

The Global Biometric Technology Market is Uncovering Deceptions I..

Prevalent cases of terrorist attacks in today’s world is increasing the need for..

view all