The North America Automation and Instrumentation In Power Market would witness market growth of 6.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Automation and Instrumentation In Power Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $10,533.3 Million by 2031. The Canada market is expected to witness a CAGR of 8.5% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 7.7% during (2024 - 2031).
Automation and instrumentation in power market refers to the industry segment focused on providing technologies, solutions, and services to automate and enhance the instrumentation processes within the power generation, transmission, and distribution sectors. Automation and instrumentation are extensively used in power plants to control and monitor various processes such as boiler temperature, pressure, and fuel flow. These systems optimize energy production, ensure safety, and minimize environmental impact by regulating combustion processes and emissions.
Supervisory control and data acquisition (SCADA) systems are used for remote monitoring and control of power generation, transmission, and distribution. SCADA systems collect real-time data from sensors and equipment across the grid, enabling operators to monitor grid performance, detect faults, and remotely control devices. Automation and instrumentation are crucial in implementing smart grid technologies, including advanced metering infrastructure (AMI), distribution automation, and demand response systems. Smart grid technologies enable two-way communication between utilities and consumers, optimize energy distribution, and support the integration of renewable energy sources.
The influx of investment enables deploying advanced monitoring and control systems across Canada’s power grid. Automation and instrumentation technologies are crucial in collecting real-time data, optimizing grid operations, and ensuring grid stability. The 2023 Federal budget proposes an additional C$20 billion (approximately US$15 billion) for the CIB to support major clean electricity and clean growth infrastructure projects. In conclusion, expansion of renewable energy and rising electricity production in the region is driving the growth of the market.
Free Valuable Insights: The Automation and Instrumentation In Power Market is Predict to reach USD 51.7 Billion by 2031, at a CAGR of 7.0%
Based on Instrument, the market is segmented into Field Instruments, and Process Analyzers. Based on Solution, the market is segmented into Programmable Logic Controller (PLC), Distributed Control System (DCS), Safety Automation Supervisory Control and Data Acquisition (SCADA), Human Machine Interaction (HMI), Advanced Process Control (APC), and Manufacturing Execution System (MES). Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Instrument
By Solution
By Country
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