Global Feeder Automation Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Definition Of The Global Feeder Automation Market?
Feeder automation refers to the use of automated technologies to control and manage electrical distribution feeders in power systems. These systems can detect faults, isolate problem areas, and restore power quickly to minimize disruptions in service.
Feeder Automation Global Market Report 2024 provides data on the global feeder automation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Feeder Automation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Feeder Automation Market Size And Annual Growth Rates?
The feeder automation market size has grown exponentially in recent years. It will grow from $3.53 billion in 2023 to $3.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rapid rising prices of electricity, increasing demand for automation of feeder systems, growing usage of distribution feeder automation system in different mining sites, and increasing operational efficiency needs. The feeder automation market size is expected to see strong growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to integration of renewable energy sources, growing need for efficient feeder systems, need for improved reliability and efficiency in power distribution, increasing demand for customized automation solutions, and higher adoption of feeder automation system in oil and gas industry. Major trends in the forecast period include implementation of smart grid technology, adoption of advanced technologies in feeder automation, integration of automatic devices, increasing investment in automation activities, and product innovation.
Which Key Drivers Are Propelling The Feeder Automation Market's Growth?
The rise in demand for efficient power distribution is set to propel the growth of the feeder automation market going forward. Power distribution involves delivering electrical power from generation sources to end users such as homes, businesses, and industries. There is an increasing need for efficient power distribution to support economic activities and societal functions. Feeder automation improves reliability and efficiency by automating monitoring, control, and management of distribution feeders, thereby enhancing fault detection, isolation, and restoration processes. This ensures uninterrupted power supply while reducing downtime and operational costs. For instance, in March 2023, the Dubai Electricity and Water Authority reported that the total length of electricity transmission and distribution lines reached 42,586.71 kilometers in 2022, compared to 41,930 kilometers in 2021. The growth included an increase in transmission lines to 4,332 km and distribution lines (underground cables) to 37,541 km in 2022. Therefore, the increased demand for efficient power distribution is driving the growth of the feeder automation market.
Get Your Free Sample of the Global Feeder Automation Market ReportWhat Are The Key Segments Within The Global Feeder Automation Market?
The feeder automation market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Application: Commercial, Industrial, Residential, Other Applications
3) By End-User: Manufacturing, Transportation, Agriculture, Retail
How Are New Trends Impacting The Size Of The Feeder Automation Market?
Major companies in the feeder automation sector are adopting sustainable electrification technologies, including all-in-one protection relays, to enhance efficiency and reliability while minimizing complexity and installation costs. Protection relays are essential for continuously monitoring electrical parameters like current, voltage, and frequency on distribution feeders. For example, in May 2021, ABB Ltd., a Swiss manufacturing firm, introduced the REX610, an all-in-one protection relay designed to support safe, smart, and sustainable electrification. The REX610 offers optimal protection for fundamental power distribution tasks with only six variants, simplifying ordering, setup, usage, and servicing. It supports communication and interoperability among substation automation devices and various smart services available on the ABB Ability platform. The relay provides a plug-and-play solution with installed hardware modules that unlock all functionalities, allowing users to adapt to evolving protection, communication, and network needs.
Which Region Drives The Highest Growth In The Feeder Automation Market?
North America was the largest region in the feeder automation market in 2023. The regions covered in the feeder automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.