The US market dominated the North America Substation Automation Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $15.97 billion by 2031. The Canada market is experiencing a CAGR of 7.6% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 6.8% during 2024-2031.
This is a vital segment of modern electrical power systems, transforming how utilities manage and operate electrical substations. By utilizing advanced technologies, automation improves substations' efficiency, reliability, and safety, making them crucial for managing electrical grids. This market is growing rapidly due to the increasing demand for reliable electricity, the need for grid modernization, and advancements in automation technology.
In addition, this has far-reaching applications that cater to the operation and optimization of electrical systems. These are the backbone of substation automation. Protection systems monitor the substation for faults, while control systems manage the operational processes. Automated systems can immediately detect faults and take corrective actions, such as disconnecting affected sections, to prevent damage to the grid and ensure the continuous flow of electricity.
Mexico’s mining sector, valued at USD 3.3 billion in 2022, is a key driver of energy demand, particularly in regions where mining operations are concentrated. Precious metals, non-ferrous materials, and other mineral extraction activities require substantial energy resources. This is essential in ensuring the continuous and efficient power distribution to mining sites. In Canada, marine transportation plays a significant role in imports and exports, with over $151 billion in exports and $194 billion in imports transported via ports in 2022. The sector’s growth, contributing $1.95 billion to Canada’s GDP, drives the need for enhanced energy management systems at the ports and related infrastructure. In conclusion, expanding Mexico’s mining industry and Canada’s marine transportation sector significantly boosts the demand for these solutions.
List of Key Companies Profiled
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- General Electric Company
- ABB Group
- Emerson Electric Co.
- Eaton Corporation plc
- Cisco Systems, Inc.
- Honeywell International, Inc.
- Texas Instruments, Inc.
Market Report Segmentation
By Type
- Transmission Substation
- Distribution Substation
By Technology
- New
- Retrofit
By Component
- Hardware
- Services
- Software
By End Use
- Utilities
- Transportation
- Steel
- Oil & Gas
- Mining
- Other End Use
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Companies Mentioned
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- General Electric Company
- ABB Group
- Emerson Electric Co.
- Eaton Corporation plc
- Cisco Systems, Inc.
- Honeywell International, Inc.
- Texas Instruments, Inc.
Methodology
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