Covid-19 Impact On Substation Automation Market Research Report 2022-2031

 The substation automation market value is expected to top US$ 37.48 Bn in 2021. High demand for retrofit conventional substations will improve sales through 2031. Application of substation automation will remain high across manufacturing units. Future Market Insights (FMI) also projects sales in commercial & civic power utilities and oil & gas terminal to catch up over the assessment period.

  • The demand from manufacturing sector is set to account for over 22% of the market share on value basis by the end of forecast period.
  • The East Asia and South Asia & Pacific will remain a primary markets, backed by rising industrial sector and growing urbanization. These regions will cumulatively account for 43% of the demand registered in globally in 2021.
  • Within North America, the U.S. will account for over 61% of sales in 2021.
  • Italy, the UK, and Spain are expected to spearhead growth in Europe.

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