Global Power System Simulator Market is segmented By Module (Load Flow, Short Circuit, Device Coordination Selectivity, Arc Flash), By Offering (Hardware, Software, Services), By End-User (Power Generation, Industrial, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Power System Simulation Market Share, Size, Demand Insights
150 Pages report analyses the global power system simulation market size, shares, recent trends, competitive intelligence, and future market outlook. Power system simulation usage in power generation is on the rise. Demand for hardware in ‘The Asia Pacific’ is booming. The competitive rivalry intensifies with ABB, Schneider Electric, and others active in the market.
Power System Simulator Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Module, By Offering, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Growth factors of the global Power system simulation Market
The market growth is driven by several factors including
- Increasing power generation capacity with the growing power sector,
- New advanced technology to reduce time and cost for different industrial projects.
However, the risk of data security over transmission might restrain the growth of the market. For instance, in the UK, by 2035, renewables are expected to account for 67 GW of electricity produced, a total of 139 GW in that year.
Power system simulation Market Segmentation and Shares Analysis
- The global Power System Simulation market is segmented into Modules Arc Flash, Short Circuit, Load Flow, Device Coordination Selectivity, Harmonics, and Others.
- The Load Flow segment accounted for the most significant market share due to the increasing number of power projects and growing investments in the oil & gas, mining, and metals market. Also, load flows are better for optimizing power networks and managing future load expansions.
- Based on end-user, the market consists of three segments namely Power, Industrial, and Others. The power segment is the largest segment accounting for the highest market share of the global power system simulation.
- Growing power generation capacity, increasing investments in renewable energy, and increasing adoption of smart grids in the transmission & distribution of power are the factors boosting the power segment.
- Geographically, this report segments the market into North America, Europe, South America, Asia-Pacific, and RoW. North America is dominating the global power system simulation market during the forecast period due to the growing mining, metals, and oil market.
Major players in this market
- The major players in the power system simulator market are ABB, Schneider Electric, Eaton, Siemens, GE, and ETAP.
Some recent developments in the global power system simulation market
- In Mar 2018, The PD1000A Power Device Measurement System for Advanced Modeling and the W8598BP/BT Power Electronics Model Generator Software solution addressed the growing needs of the hybrid-electric and electric vehicle and solar industries which need their power electronics simulation designers to make the modules smaller, cooler and more efficient.
- In 2017, Bentley Power Systems partnered with Siemens Energy to develop innovative technology aimed at the digitization of power utilities.
The scope of the report
- The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
- The report profiles the following companies, which include ABB, Siemens, Schneider Electric, Eaton, ETAP, GE, Rtds Technologies, Mathworks, Opal-RT, Powerworld, Nepean, and OSI.
Frequently Asked Questions
What is the Power System Simulation Market growth?
The market is growing at a high CAGR.
What is the Power System Simulation Market size in 2021?
The Market size was valued at USD YY million in 2021.
Who are the key players in Power System Simulation Market?
ABB, Schneider Electric, Eaton, Siemens, GE, and ETAP.