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The distribution automation market is estimated to grow at a CAGR of 7.29% from 2018 to 2023, to reach a projected market size of USD 16.81 billion by 2023. Distribution automation is a solution, which includes monitoring, protecting, controlling, and maintaining the distribution network. Distribution automation is mainly divided into two areas including distribution substation & feeder automation and customer-end automation. Increasing renewable power generation and upgrade of ageing distribution infrastructure are the key factors contributing to the growth of the distribution automation market. Increasing distributed energy generation in developing countries such as India can create opportunities for the distribution automation market.

Global Substation Automation Market Share - Industry Report, 2018-2026

Substation Automation Market Size to Reach $207.8 Billion By 2026

The global ring main unit market is expected to reach USD 2.5 billion by 2025 from an estimated value of USD 1.6 billion in 2020, at a CAGR of 9.3%. Capacity additions, increasing electricity demand, and industrialization projects in countries such as China, Japan, India, and South Korea are the main reasons spurring the growth of the ring main unit market. In India, factors such as rural electrification, adoption of smart grids, and substation automation projects are increasing the demand for ring main units. Due to the COVID-19 outbreak, the US has a negative growth rate of -2.45% in the manufacturing sector compared to -3.25% of China. India, Japan, and Europe registered a negative growth of -3.98%, 2.77%, and -2.89%, respectively, in their manufacturing sectors.