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Power System Simulators - Global Market Trajectory & Analytics

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    Report

  • 527 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805701

Global Power System Simulators Market to Reach $1.3 Billion by 2025


Electrical power systems simulation involves modeling and simulation of power system network for analyzing the systems by using real-time or offline data. Considered to be a category of computer simulation programs, power system simulation software solutions are used in various operational and planning scenarios for conventional and renewable power generation, utility distribution and transmission, and industrial/commercial power systems. The basic premise of using simulation for a real power system is to observe and transform the system in a model, which involves formulating mathematical equations to describe a phenomenon. Power systems simulation programs use mathematical optimization techniques like quadratic programming, linear programming and mixed integer programming. An important aspect of power system modeling/ simulation is the proper selection of hypotheses and simplifying the way in which proper balance accuracy and computational cost are achieved. Key applications of power system simulation comprise short term operational simulations, long term transmission and generation expansion planning, and market analysis.

Amid the COVID-19 crisis, the global market for Power System Simulator is projected to reach US$1.3 Billion by 2025, registering a compounded annual growth rate (CAGR) of 6.9% over the analysis period. The United States represents the largest regional market for Power System Simulator, accounting for an estimated 24.6% share of the global total. The market is projected to reach US$332.7 Million by the close of the analysis period. The Middle East is forecast to emerge as the fastest growing regional market with a CAGR of 9.2% over the analysis period. The market is witnessing stable growth led by the strong growth in power sector, and increase in power generation capacities across the world. Using the simulators, it is possible to carry out testing of different system topologies in industrial power systems, commercial facilities, renewable energy systems, utility transmission systems, and railway power systems. Rising investments into power infrastructure development in developing economies and the growing efforts to cut down overall cost and time involved in projects are fueling market growth. Also fostering growth in the market is the increasing investments in smart power technologies and the constant rise in adoption of IoT (Internet of Things) and cloud platforms for simulation of electrical power systems.
By type of module, the load flow module segment represents the largest segment in the global power systems simulator market. Load flow (power flow) analysis is the computational procedure used for studying normal steady state operation of power systems. The load flow analysis is mainly aimed at ascertaining the steady state operating characteristics of a power system with regard to a specific load and voltage conditions. Using load flow analysis, it is possible to analyze power flow and calculate voltage drops in a reliable and accurate manner. Load-flow calculation is among the most common power system tools for examination of disturbed and undisturbed networks. By using transmission line parameters, network topology, load location and compensation, transformer parameters and generator location and limits, load flow calculation offers voltage magnitudes as well as angle for various nodes and loading of network components such as transformers and cables. However, concerns over data security are emerging as a major impediment to growth of power system simulators market. With electrical power systems coming under high threat from cyberattacks and virus attacks, there is high risk of vital information being stolen lead to significant losses for the sector.

North America represents the leading regional market for power system simulator. The region`s growth is driven by the steadily rising investments in the power sector, sustained investments in metals and mining sector, and the favorable prospects for the shale oil market. Increasing investments into smart grid systems and focus on reducing energy losses during power transmission and distribution through infrastructure improvement initiatives are driving need for power system simulators. On the other hand, European power system simulator market is being fostered by the growing demand for power from various sectors and the subsequent efforts to expand and improve power system infrastructure globally. Strong growth is anticipated from emerging economies of Asia-Pacific region. The vast population base of developing nations such as India and China and the significant rise in energy demand in these regions are propelling demand for power system simulators.

Select Competitors (Total 35 Featured):

  • ABB
  • Eaton Corporation, Inc.
  • ETAP
  • Fuji Electric Co., Ltd.
  • GE Energy Consulting
  • Neplan AG
  • Opal-RT Technologies, Inc.
  • PowerWorld Corporation
  • RTDS Technologies, Inc.
  • Siemens AG
  • The MathWorks, Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Power System Simulators - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 35 Players Worldwide in 2022 (E)
  • An Introduction to Power System Simulation
  • Power System Simulator Market: Healthy Growth Prospects
  • Software: The Largest Segment
  • Load Flow Module Leads Power System Simulator Market
  • Power Sector Fuels Need for Power System Simulators
  • North America Dominates Global Market
  • Competition
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
  • ABB (Switzerland)
  • Eaton Corporation, Inc. (USA)
  • ETAP (USA)
  • Fuji Electric Co., Ltd. (Japan)
  • GE Energy Consulting (USA)
  • Neplan AG (Switzerland)
  • RTDS Technologies, Inc. (Canada)
  • Siemens AG (Germany)
  • The MathWorks, Inc. (USA)
  • Opal-RT Technologies, Inc. (Canada)
  • PowerWorld Corporation (USA)
3. MARKET TRENDS & DRIVERS
  • Robust Increase in Power Sector and Growth in Power Generation Capacities Drive Need for Power System Simulators
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
  • High Growth Potential of Renewable Energy Sector to Fuel Market Growth
  • Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
  • Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
  • Global Renewable Energy Investments in US$ Billion: 2018 & 2030
  • Global Renewable Capacity Growth by Technology over the Period 2019-2024
  • Growing Importance of Real-time Digital Power System Simulations for Power Systems Design & Scheduling
  • A Glance at Select Real Time Digital Simulators
  • Real Time Simulation Offers Support for Smart Grid Deployments
  • Cloud Platforms and IoT Adoption in Power System Simulators
  • Arc Flash Simulation Studies: Essential to Prevent and Mitigate Hazards Related to Arc Flash Events
  • Investment Scenario in Mining & Metals Sector Influences Market Growth
  • Product Segmentation by Module: Definitions
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Power System Simulators Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 35

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB
  • Eaton Corporation, Inc.
  • ETAP
  • Fuji Electric Co., Ltd.
  • GE Energy Consulting
  • Neplan AG
  • Opal-RT Technologies, Inc.
  • PowerWorld Corporation
  • RTDS Technologies, Inc.
  • Siemens AG
  • The MathWorks, Inc.