Utility Asset Management Market: Industry Challenges, Key Vendors, Drivers, Trends And Forecast To 2

Utility Asset Management Market Research Report- Forecast to 2023

Utility Asset Management Market: Industry Challenges,

Key Vendors, Drivers, Trends And Forecast To 2023

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Copyright Š 2018 Market Research Future.

Utility Asset Management Market Research Report- Forecast to 2023

1 Summary Asset management can be defined as a systematic process of, cost-effectively, operating, maintaining and upgrading of electrical assets by combining engineering practices and economic analysis with sound business practice. Any given electrical distribution network is made up of the primary and secondary plants.

Hence these assets too, can be classified as either primary or secondary plant assets. The rapid rates of technology developments and technology integration have continued to pose challenges to asset management in the global electrical power sector.

Key Players: The key players of global utility asset management market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), S & C Electric Company (U.S.), Sentient Energy, Inc. (U.S.), Aclara Technologies LLC (U.S.), Emerson Electric Co. (U.S.), Enetics Inc. (U.S.), Lindsey Manufacturing Co. (U.S.), Netcontrol Oy (Finland), Cniguard Ltd. (U.K.), and Vaisala OYJ (Finland).

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Copyright Š 2018 Market Research Future.

Utility Asset Management Market Research Report- Forecast to 2023

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Market Overview

Electricity industry reform will also introduce new challenges into network introduction interconnections.

At the distribution level which is below 132kV, issues in network management are mainly that of voltage regulations, voltage fluctuations, distribution plant loading and utilization, fault level, and generation stability. Harmonics, phase balancing, supply availability, electrical losses and security are also some of them. From the distribution systems perspective, the challenges are in the way to manage within the lowest maintenance and operating costs, maximizing the life-span of existing plant and equipment, and investing in new technology. Operating optimally with reduced workforce, locally restructuring the electricity industry both effectively and efficiently, and meeting these constraints while enhancing system reliability and efficiency are among other challenges.

Segments

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Copyright Š 2018 Market Research Future.

Utility Asset Management Market Research Report- Forecast to 2023

3 Market Research Analysis This is due to the considerable growth in the power sector with population boom along with rise in energy demand has propelled the utility asset management market in various regions. The growth is primarily attributed to up gradation of aging utility infrastructure and growing investments in distributed generation and related government regulations, which is likely to continue during the forecast years. The Asia Pacific region is expected to grow at the highest CAGR from 2018 to 2023, wherein China was the largest country-level market, followed by India and Japan. Rising population with tremendous energy demand growth has resulted in phenomenal growth for electrical infrastructure in the region and subsequently resulted into growth for utility asset management market.

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Copyright Š 2018 Market Research Future.

Utility Asset Management Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.