Global Power System Simulator Market is segmented By Module (Load Flow, Short Circuit, Device Coordination Selectivity, Arc Flash, others), By End-User (Industrial, Power, others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Hardware Power System Simulation Market is expected to grow at a CAGR during the forecasting period (2022-2029).
What exactly is Hardware Power Simulation?
- The hardware-based simulation is used to develop a practical model over software-based simulation as it is easy to visualize the various voltage levels of operations, the losses, and limitations on physical distances. Hardware Power System Simulator is developed to demonstrate the effects of different parameters on the power system.
What is driving this market?
- Several factors including an increasing power generation capacity with a growing power sector and new advanced technology to reduce time and cost for different industrial projects are driving the growth of this market.
How is the global market segment based on different criteria?
- The global Power System Simulation market is segmented on Modules into Arc Flash, Short Circuit, Load Flow, Device Coordination Selectivity, Harmonics, and Others.
- The Load Flow segment accounted for the largest 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 in 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 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 growing mining, metals and oil market.
Who are the major players in this market?
- The major players in the power system simulator market are ABB, Schneider Electric, Eaton, Siemens, GE, and ETAP.
What are the recent developments in the global hardware power simulation market?
- NREL’s megawatt-scale power hardware-in-the-loop (PHIL) capability allows researchers and manufacturers to test energy technologies at full power in real-time grid simulations to safely evaluate performance and reliability.
- In 2017, Bentley Power Systems partnered with Siemens Energy to develop innovative technology aimed at the digitization of power utilities.
What else does this report cover?
- 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 includes ABB, Siemens, Schneider Electric, Eaton, ETAP, GE, Rtds Technologies, Mathworks, Opal-RT, Powerworld, Nepean, and OSI.
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