DUBLIN--(BUSINESS WIRE)--The "Power System Simulators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Power System Simulators estimated at US$998.2 Million in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 5.9% over the analysis period 2020-2027.
Load Flow, one of the segments analyzed in the report, is projected to grow at a 7.3% CAGR to reach US$486.1 Million by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Short Circuit segment is readjusted to a revised 6.3% CAGR for the next 7-year period. This segment currently accounts for a 22.9% share of the global Power System Simulators market.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 9.2% CAGR for the Period of 2020-2027
The Power System Simulators market in the U.S. is estimated at US$270.1 Million in the year 2020. The country currently accounts for a 27.06% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$321.9 Million in the year 2027 trailing a CAGR of 9.3% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR while Rest of European market (as defined in the study) will reach US$321.9 Million by the year 2027.
Device Coordination Selectivity Segment Corners a 17.7% Share in 2020
In the global Device Coordination Selectivity segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$133.4 Million in the year 2020 will reach a projected size of US$178.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$201.1 Million by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period.
Select Competitors (Total 35 Featured) -
- Eaton Corporation, Inc.
- Fuji Electric Co., Ltd.
- GE Energy Consulting
- Neplan AG
- Opal-RT Technologies, Inc.
- PowerWorld Corporation
- RTDS Technologies, Inc.
- Siemens AG
- The MathWorks, Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Power System Simulation
- Power System Simulator Market: Healthy Growth Prospects
- Software: The Largest Segment
- Load Flow Module Leads Power System Simulator Market
- Power Sector Fuels Need for Power System Simulators
- North America Dominates Global Market
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Robust Increase in Power Sector and Growth in Power Generation Capacities Drive Need for Power System Simulators
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- High Growth Potential of Renewable Energy Sector to Fuel Market Growth
- Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
- Global Renewable Energy Investments in US$ Billion: 2018 & 2030
- Global Renewable Capacity Growth by Technology over the Period 2019-2024
- Growing Importance of Real-time Digital Power System Simulations for Power Systems Design & Scheduling
- A Glance at Select Real Time Digital Simulators
- Real Time Simulation Offers Support for Smart Grid Deployments
- Cloud Platforms and IoT Adoption in Power System Simulators
- Arc Flash Simulation Studies: Essential to Prevent and Mitigate Hazards Related to Arc Flash Events
- Investment Scenario in Mining & Metals Sector Influences Market Growth
- Product Segmentation by Module: Definitions
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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