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Europe Substation Automation Market Forecast 2019-2027

KEY FINDINGS
The Europe market for substation automation is expected to propel at a CAGR of 6.01% through the forecasting years of 2019-2027. The base year of the study is considered to be 2018.

MARKET INSIGHTS
The aging power infrastructure in Europe is creating large retrofit and replacement market for substation automation. Also, the stringent regulations implemented across the region are keen on improving the power quality throughout its transmission via the distribution systems with minimized outage time that mainly depends on the substation automation technology.
The major countries considered for this market study are the United Kingdom, Germany, France, Italy, Spain, Russia and the Rest of Europe regional segment. Germany had contributed the most by revenue to the regional market in 2018. Germany substation automation market is mainly propelled by the rising energy consumption in both the urban and semi-urban countryside areas and the heavy investments made by the federal government for the development of smart cities across the country.

COMPETITIVE INSIGHTS
The Europe based company, Duisburg Germany & Huawei organizations had signed Memorandum of Understanding to construct and develop a smart city in which Huawei Corporation would launch a joint innovation center. This joint venture would focus on the penetration of WLAN network and Ethernet networks further that would amp up the development and growth of digital substation market in Europe.
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Europe Substation Automation Market Forecast 2019-2027
Published By :Inkwood Research
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