Rising electricity complexes is demanding rapid growth in the electric power landscape, thereby boosting the prevalence of digital substations, which overcome the challenges related to cybersecurity. On contrary, increasing digitalization, distribution, and decarbonization of future energy systems are emphasizing the scope of a digital substation. Henceforth, digitalization of substations has become an influential step that positively determines the transformation of energy systems. Digital substation improvises operations administration between distributed intelligent electronic devices (IEDs), which are interconnected by communications networks. It also delivers key benefits specifically in terms of design, installation, engineering, and operation, hence, organizations are adapting the technology and creating Digital Substation Market revenue sources. IEC61850-9.2 process bus and IEC61850 standard collectively act as the heart of the digital substation, because process bus is a high-speed Ethernet communications network. Jointly, they have become a revolution in substation engineering. The process bus affords superior reliability for substations, compared to a single bus.
Additionally, this bus offers a significant number of opportunities for lifecycle cost reduction, which encompasses installation, configuration, and commissioning costs. In the recent times, growing demand for the integration of optical current and voltage transducers (CT & VT) into the digital substation has become a trend. In addition to this, ease of incorporation associated with modern CT & VT sensors is boosting the growth of CT & VT in the digital substation market. Improved reliability, commissioning, accuracy in measurements, operations, and information recording have been prominent growth promoting factors of the digital substation market. Thus, the global Digital Substation Market size was evaluated at $6.8 billion in 2018, and is estimated to grow with a CAGR of 6.9%, during the forecast period 2019-2025.
Numerous advantages of the digital substation are attracting the industry players. These advantages are simpler and easier installation, interoperability between devices, better EMC performance, and isolation of circuits, which are proving to be adoption drivers for the digital substation market. Nowadays, digitalized substations are publicizing as key elements of the power supply. These are gradually occupying a prominent role in energy data communication as well. Smart digital technology is ensuring the success of digital transformation in the energy sector. Increase in investments in such innovative technologies has been encouraging the future-proof power grids. Since the substation is a well-known primary component of power grids, the digitalized substation market players are gaining traction from grid operators and utility companies, as it is a cost-effective solution, which increases the sustainability of power supply. Application of digital substations in the transportation industry is set to grow at the fastest CAGR of 8.4% among utility, oil & gas, mining, and metal industries, over the forecast period 2019-2025.
MicroSCADA Pro helps in genuine automation and control solution for transportation. It is an intuitive user interface which assists safe and fast operations. North America is a leading region among other regions in the global digital substation market, with a regional share of 35.1% in 2018. Two U.S. laboratories have been constructed by the National Grid, to troubleshoot problems linked with substation projects. Presence of well-established players coupled with the growing adoption of digital substations in the American countries is creating a demand influx in the digital substation market.
Major Players in Digital Substation Market Include:
Some of the players which are operating in the global digital substation market are ABB, Siemens, G.E, Cisco, Schneider, Honeywell, Emerson, L&T, Eaton, NR Electric, and SEL. These companies have been continuously concentrating on partnership and product launches to strengthen their projects and their brand value in respective geographies.
ABB Dispersion in the Digital Substation Marketplace:
· ABB is dominating in the widespread of both digital IEDs and substations. Presently, this company is engaged with 30 digital substation projects in nearly 16 countries and also with 10,000 IEC 61850 substation automation systems installation globally. Moreover, it is the leading manufacturer of nonconventional instrument transformers, which is additionally boosting the digital substations market demand.
· In 2018, ABB digital substation is supporting the smart city initiative in India, by enabling digital substation, as it plays a major role in the next generation grids of this country. Recently, ABB has been involved in providing a 110 kilovolt (kV) digital substation to Technopark, which is the largest Information Technology Park in India. The digital substation project assists India's smart grid mission and smart city vision in the same. Engineering and Procurement Company (EPC) Stelmec Ltd. approached ABB to get a supply of protection and control equipment, a MicroSCADA (Supervisory Control and Data Acquisition) system and a process bus, which includes in a digital substation. It is to be operated by a large state power transmission utility namely Maharashtra State Electricity Transmission Company Limited (MSETCL). This substation is intended to enhance the transmission of clean energy from solar plants to the rest of the state.
· In December 2018, ABB Ltd. has been engaged with two crucial digital substation projects in Italy. These substations are targeted to transmit the generated electricity through local wind farms to a number of homes and businesses of this country. Furthermore, they are contributing to fulfilling the goal of Italy that is to generate 28% of the energy required using renewable resources by 2030. Moreover, ABB signed over an agreement to provide services for a period of 20 years’ in order to upkeep the operations of the new digital substation Italy. This commitment of ABB is stabilizing its position as an ideal partner to other companies, who are interested in enabling a smarter and stronger grid in shaping power systems.
· Belarus is a European country, which is facing increasing electricity demand and its power grid is developing to meet this continuous demand for electricity from nine million people of this country. The digital substation market leader ABB has enabled the upgradation of the biggest air-insulated substations (AIS) that have been built for the Belarus Ministry of Energy and its transmission utility Mogilevenergo. As a portion of this project, Engineering and Procurement Company RIKO received digitally enabled high-voltage products such as fiber optics current sensors and disconnecting circuit breakers from ABB. In case of digital grid technology development, ABB is proving to be an undisputed leader. It consists of a wide range of digital products and software such as control and protection solutions and substation automation starting from the field room to the board room. Thus, the growth in the power grids division of ABB is reflecting the capability of ABB as a major player in grid automation businesses.
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