DUBLIN, October 11, 2017 /PRNewswire/ --
The "Utility Asset Management Market by Application (Transformer, Sub-Station, Transmission & Distribution Lines), Component (Hardware, Software), Utility Type (Public Utility, Private Utility), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global utility asset management market is projected to grow at a CAGR of 8.25%, from 2017 to 2022, to reach a market size of USD 4.09 Billion by 2022.
This growth is attributed to increasing investments in grid modernization, requirement for energy efficiency, increasing grid complexity, and necessity to reduce losses in T&D lines.
The report segments the utility asset management market, on the basis of application, into transformer, sub-station, and T&D lines. The transformer application segment is expected to account for the largest market share in the application segment as it is the most critical asset of the grid. In the North American region, investments for T&D upgradation are taking place in order to achieve energy efficiency and reduce T&D losses. While in the Asia Pacific region heavy investments in distributed energy resources being made by China, Australia, and India has resulted in the complexity of grid. This would provide an attractive market opportunity for utility asset management.
The utility asset management market has been segmented, based on component, into hardware and software. The hardware segment is further classified into sensors, infrared cameras, and others which include feeder protection device and sensing transmitter. The software segment includes equipment/component management system, performance management system, and production management system. The hardware segment is expected to grow at the highest CAGR from 2017 to 2022, owing to the increasing upgradation of aging utility infrastructure.
Leading players in the utility asset management market include Siemens AG (Germany), ABB, Ltd. (Switzerland), General Electric Company (US), and Emerson Electric (US). Contracts & agreements was the strategy most commonly adopted by top players, constituting 51.3% of the total developments, from 2014 to June 2017. It was followed by new product developments, mergers & acquisitions, and expansions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Utility Asset Management Market, By Application
7 Utility Asset Management Market, By Component
8 Utility Asset Management Market, By Utility Type
9 Utility Asset Management Market, By Region
10 Competitive Landscape
11 Company Profiles
- ABB Ltd
- Aclara Technologies Llc
- Cniguard Ltd
- Emerson Electric Co.
- Enetics Inc.
- General Electric Company
- Lindsey Manufacturing Co.
- Netcontrol Oy
- S&C Electric Company
- Sentient Energy, Inc.
- Siemens Ag
- Vaisala Oyj
For more information about this report visit https://www.researchandmarkets.com/research/d5xmh7/utility_asset
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SOURCE Research and Markets