Albany, New York, USA (PRWEB) March 10, 2014
According to a new market report published by Transparency Market Research "Distribution Automation (Monitoring and control devices, Power quality and efficiency devices, Switching and power reliability devices) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," the global distribution automation equipment market was worth USD 9,986.3 million in 2012 and is expected to reach USD 17,677.2 million by 2019, growing at a CAGR of 8.5% from 2013 to 2019. Europe was the largest market for distribution automation in 2012. The growth in this region would be driven increased investment in distribution automation equipment by richest European countries like UK, France, Italy and Germany. Further, according to Greentechgrid's survey Europe invested USD 6.84 billion in smart meters starting from 2001 to 2012.
Browse Global Distribution Automation Market Report with Full TOC at http://www.transparencymarketresearch.com/distribution-automation-market.html.
The distribution automation market is driven by various factors such as reduced outage durations, increased reliability and efficiency of distribution system and cost and maintenance reduction with improved power quality. However, lack of standardization in communication infrastructure and technology and modernization of existing switchgears are some of the factors inhibiting the growth of this market.
Among all types, in 2012, monitoring and control device was the largest segment and accounted for 36.1% of the global market. However, power quality and efficiency devices segment is expected to grow at a faster rate during forecast period.
In terms of end use segment, in 2012, industrial segment accounted for 51.3% of the total revenue of distribution automation market and is expected to remain dominating throughout the forecast period. Islanding operation, power quality improvement, load shedding, self-healing functionality and energy efficiency boost the demand for advanced distribution automation industrial segment. However, residential segment is expected to grow at the highest rate with a CAGR of 12.0% owing to need for improved reliability by reducing duration and number of outages as well as the quality of service.
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Geographically Europe was the largest distribution automation market and accounted for 32.2% in 2012 owing to rise in number of smart grid projects and increased investment in distribution automation components, such as smart meters. Saved maintenance and operating cost is one of the major reasons for increasing demand of distribution automation in Europe.
The global market for distribution automation is dominated by few players namely ABB Ltd., Siemens AG, Schneider Electric and GE Corporation. In 2012, ABB Ltd. and Siemens AG were the market leaders with 24%and 22% market share respectively. Other players in the market include GE, Schneider Electric, and Alstom Grid.
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