Remote Terminal Unit RTU in Smart Grid Market Size, Trends and Insights By Size (Small, Medium, Large), By Voltage (High Voltage, Medium Voltage, Low Voltage), By Deployment (Equipment of Intelligent Secondary Unit S/S, Coupling of Renewable Energy Installations, Equipment of Distribution Stations), By Application (Company Power Sector, Power Plant), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- ABB
- Schneider Electric
- Siemens
- Iskra Sistemi
- Others
Reports Description
Rapid investments in smart goods to boost the RTU in the Smart Grid market
The global RTU in the Smart Grid market was estimated at USD 267 Million in 2021 and is expected to reach USD 284 Million in 2022 and is anticipated to reach around USD 410 Million by 2030, growing at a CAGR of roughly 5.5% between 2022 and 2030.
The global RTU in Smart Grid market research report offers an in-depth analysis of the global market size, further segmented into the regional and country-level market size and segmentation market growth. Also, it provides market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.
RTU in Smart Grid Market: Overview
A remote Terminal Unit (RTU) is a remotely located device that gathers data, codes it into a transmittable format, and then transfers the information to the distributed control system or master. Additionally, an RTU collects data from the controller device and carries out procedures that the master has directed. RTUs have a communications port, output channels for control, indication, or alarms, and input channels for sensing or metering.
In a smart grid, the RTU can gather and transfer data on the electric power condition and transfer it to the station. RTU is now an essential component of transformer substations and the smart grid.
RTU in Smart Grid Market: COVID–19 Impact Analysis
The outbreak of COVID-19 did not significantly impact the RTU in the smart grid market. However, the market faced challenges concerning equipment availability due to supply chain disruptions. The pandemic made energy providers realize that smart grid network equipment, like RTUs, not only offers a reduction in losses, improved operational efficiency, and grid stability but also provides opportunities for increased revenue generation to offset distribution companies’ losses because of lockdowns. The market is anticipated to increase due to rising investments in and deployment of smart grid technologies like smart meters, EV chargers, and other related smart grid infrastructure technologies in the upcoming years.
RTU in Smart Grid Market: Growth Drivers
The RTUs are capable of making automatic decisions.
An electrical system known as the “smart grid” can make targeted decisions on slowing down, shutting down, or ramping up power based on usage, demand, and other considerations. But to accomplish this, a smart grid RTU must be functional. To transfer massive volumes of data to a master station that can make the right judgments, RTUs must be able to monitor data from all across the grid.
Rapid investments in smart grids
Demand for RTU in smart grids is driven by the increasing adoption of smart grids over traditional grids. Government mandates, increased product awareness, energy conservation policies, and the adoption of smart grid technologies are driving the growth of RTU in smart grid sensor sales. Governments worldwide are changing policies to reduce carbon emissions and reliance on fossil fuels.
RTU in Smart Grid Market: Segmentation Analysis
The RTU market in the Smart Grid market is divided into three segments: type, voltage level, and application. The market is classified into three sizes based on size segmentation: small, medium, and large. The voltage segmentation is categorized into high voltage level, medium voltage level, and low voltage level. The high-level voltage segment dominated the segment. The deployment type segment includes coupling renewable energy installations, equipment of intelligent secondary unit s/s, and equipment of distribution stations. In terms of application, the market is divided into two sectors: power plants and company power.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 267 Million |
| Projected Market Size in 2030 | USD 410 Million |
| CAGR Growth Rate | 5.5% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | ABB, Schneider Electric, Siemens, Iskra Sistemi, General Electric, Honeywell, Schweitzer Engineering, Red Lion, Wescon Group, Dongfang Electronics, Nari Group, TopRank, Prestigious Discovery, Arliscoputra Hantama, and Others |
| Key Segment | By Size, Voltage, Deployment, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the RTU in the Smart Grid market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2022-2030).
- In terms of revenue, the RTU in the Smart Grid market size was valued at around USD 267 million in 2021 and is projected to reach USD 410 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on size segmentation, the small segment was predicted to show maximum market share in 2021.
- Based on the voltage, the high voltage segment was the leading revenue-generating category in 2021.
- Based on application, the power plant segment is anticipated to experience a high CAGR from 2022 to 2030.
- Based on geography/region, the North American region was the leading revenue generator in 2021.
Recent Development
- Jan 2022: Hitachi Energy, a Japan-based energy technology company, has delivered a 150kV digital substation to PT Perusahaan Listrik Negara, an Indonesia utility, to guarantee reliable power in East Java, Indonesia. These include the latest generation of RTUs.
- July 2022: Honeywell has established a new assembly facility in Almaty to manufacture advanced automation and security equipment for complex industrial facilities in Kazakhstan’s mining, oil refining, petrochemical, energy, and other sectors. The new facility comprises assembly lines for the RTU that are part of an automated control system that serves real-time automated process control with high security and efficiency.
Regional Landscape
In 2021, the Remote Terminal Unit (RTU) market in the United States was expected to be worth approximately US$73 million. China, the world’s second-largest economy, is expected to reach an anticipated market size of approximately US$65 million by 2030, growing at a CAGR of nearly 5% from 2022 to 2030. Other notable geographic markets include Japan and Canada, which are expected to grow at 4.5% and 4%, respectively, between 2022 and 2030. Germany is expected to grow at a CAGR of about 4.5% in Europe.
Competitive Landscape
Leading players operating in RTU in the Smart Grid market focus on constant innovations to distinguish and personalize their offerings for potential users. Some key market strategies expected to take place during the forecast years include mergers and acquisitions, new offerings, and partnerships.
Our report offers quantitative and qualitative insights into the RTU in the Smart Grid market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.
Key Player:
- ABB
- Schneider Electric
- Siemens
- Iskra Sistemi
- General Electric
- Honeywell
- Schweitzer Engineering
- Red Lion
- Wescon Group
- Dongfang Electronics
- Nari Group
- TopRank
- Prestigious Discovery
- Arliscoputra Hantama
The global RTU in the Smart Grid market is segmented as follows:
By Size
- Small
- Medium
- Large
By Voltage
- High Voltage
- Medium Voltage
- Low Voltage
By Deployment
- Equipment of Intelligent Secondary Unit S/S
- Coupling of Renewable Energy Installations
- Equipment of Distribution Stations.
By Application
- Company Power Sector
- Power Plant
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global RTU in Smart Grid Market, (2022 – 2030) (USD Million)
- 2.2 Global RTU in Smart Grid Market : snapshot
- Chapter 3. Global RTU in Smart Grid Market – Industry Analysis
- 3.1 RTU in Smart Grid Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Capable Of Making Automatic Decisions.
- 3.2.2 Rapid Investments In Smart Grids
- 3.2.3 Increased Product Awareness
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Size
- 3.7.2 Market attractiveness analysis By Voltage
- 3.7.3 Market attractiveness analysis By Deployment
- 3.7.4 Market attractiveness analysis By Application
- Chapter 4. Global RTU in Smart Grid Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global RTU in Smart Grid Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global RTU in Smart Grid Market – Size Analysis
- 5.1 Global RTU in Smart Grid Market overview: By Size
- 5.1.1 Global RTU in Smart Grid Market share, By Size, 2021 and 2030
- 5.2 Small
- 5.2.1 Global RTU in Smart Grid Market by Small, 2022 – 2030 (USD Million)
- 5.3 Medium
- 5.3.1 Global RTU in Smart Grid Market by Medium, 2022 – 2030 (USD Million)
- 5.4 Large
- 5.4.1 Global RTU in Smart Grid Market by Large, 2022 – 2030 (USD Million)
- 5.1 Global RTU in Smart Grid Market overview: By Size
- Chapter 6. Global RTU in Smart Grid Market – Voltage Analysis
- 6.1 Global RTU in Smart Grid Market overview: By Voltage
- 6.1.1 Global RTU in Smart Grid Market share, By Voltage, 2021 and 2030
- 6.2 High Voltage
- 6.2.1 Global RTU in Smart Grid Market by High Voltage, 2022 – 2030 (USD Million)
- 6.3 Medium Voltage
- 6.3.1 Global RTU in Smart Grid Market by Medium Voltage, 2022 – 2030 (USD Million)
- 6.4 Low Voltage
- 6.4.1 Global RTU in Smart Grid Market by Low Voltage, 2022 – 2030 (USD Million)
- 6.1 Global RTU in Smart Grid Market overview: By Voltage
- Chapter 7. Global RTU in Smart Grid Market – Deployment Analysis
- 7.1 Global RTU in Smart Grid Market overview: By Deployment
- 7.1.1 Global RTU in Smart Grid Market share, By Deployment, 2021 and 2030
- 7.2 Equipment of Intelligent Secondary Unit S/S
- 7.2.1 Global RTU in Smart Grid Market by Equipment of Intelligent Secondary Unit S/S, 2022 – 2030 (USD Million)
- 7.3 Coupling of Renewable Energy Installations
- 7.3.1 Global RTU in Smart Grid Market by Coupling of Renewable Energy Installations, 2022 – 2030 (USD Million)
- 7.4 Equipment of Distribution Stations
- 7.4.1 Global RTU in Smart Grid Market by Equipment of Distribution Stations, 2022 – 2030 (USD Million)
- 7.1 Global RTU in Smart Grid Market overview: By Deployment
- Chapter 8. Global RTU in Smart Grid Market – Application Analysis
- 8.1 Global RTU in Smart Grid Market overview: By Application
- 8.1.1 Global RTU in Smart Grid Market share, By Application, 2021 and 2030
- 8.2 Company Power Sector
- 8.2.1 Global RTU in Smart Grid Market by Company Power Sector, 2022 – 2030 (USD Million)
- 8.3 Power Plant
- 8.3.1 Global RTU in Smart Grid Market by Power Plant, 2022 – 2030 (USD Million)
- 8.1 Global RTU in Smart Grid Market overview: By Application
- Chapter 9. RTU in Smart Grid Industry – Regional Analysis
- 9.1 Global RTU in Smart Grid Industry Regional Overview
- 9.2 Global RTU in Smart Grid Industry Share, by Region, 2021 & 2030 (USD Million)
- 9.3. North America
- 9.3.1 North America RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.3.1.1 North America RTU in Smart Grid Industry, by Country, 2022 – 2030 (USD Million)
- 9.3.1 North America RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.4 North America RTU in Smart Grid Industry, by Size, 2022 – 2030
- 9.4.1 North America RTU in Smart Grid Industry, by Size, 2022 – 2030 (USD Million)
- 9.5 North America RTU in Smart Grid Industry, by Voltage, 2022 – 2030
- 9.5.1 North America RTU in Smart Grid Industry, by Voltage, 2022 – 2030 (USD Million)
- 9.6 North America RTU in Smart Grid Industry, by Deployment, 2022 – 2030
- 9.6.1 North America RTU in Smart Grid Industry, by Deployment, 2022 – 2030 (USD Million)
- 9.7 North America RTU in Smart Grid Industry, by Application, 2022 – 2030
- 9.7.1 North America RTU in Smart Grid Industry, by Application, 2022 – 2030 (USD Million)
- 9.8. Europe
- 9.8.1 Europe RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.8.1.1 Europe RTU in Smart Grid Industry, by Country, 2022 – 2030 (USD Million)
- 9.8.1 Europe RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.9 Europe RTU in Smart Grid Industry, by Size, 2022 – 2030
- 9.9.1 Europe RTU in Smart Grid Industry, by Size, 2022 – 2030 (USD Million)
- 9.10 Europe RTU in Smart Grid Industry, by Voltage, 2022 – 2030
- 9.10.1 Europe RTU in Smart Grid Industry, by Voltage, 2022 – 2030 (USD Million)
- 9.11 Europe RTU in Smart Grid Industry, by Deployment, 2022 – 2030
- 9.11.1 Europe RTU in Smart Grid Industry, by Deployment, 2022 – 2030 (USD Million)
- 9.12 Europe RTU in Smart Grid Industry, by Application, 2022 – 2030
- 9.12.1 Europe RTU in Smart Grid Industry, by Application, 2022 – 2030 (USD Million)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.13.1.1 Asia Pacific RTU in Smart Grid Industry, by Country, 2022 – 2030 (USD Million)
- 9.13.1 Asia Pacific RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.14 Asia Pacific RTU in Smart Grid Industry, by Size, 2022 – 2030
- 9.14.1 Asia Pacific RTU in Smart Grid Industry, by Size, 2022 – 2030 (USD Million)
- 9.15 Asia Pacific RTU in Smart Grid Industry, by Voltage, 2022 – 2030
- 9.15.1 Asia Pacific RTU in Smart Grid Industry, by Voltage, 2022 – 2030 (USD Million)
- 9.16 Asia Pacific RTU in Smart Grid Industry, by Deployment, 2022 – 2030
- 9.16.1 Asia Pacific RTU in Smart Grid Industry, by Deployment, 2022 – 2030 (USD Million)
- 9.17 Asia Pacific RTU in Smart Grid Industry, by Application, 2022 – 2030
- 9.17.1 Asia Pacific RTU in Smart Grid Industry, by Application, 2022 – 2030 (USD Million)
- 9.18. Latin America
- 9.18.1 Latin America RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.18.1.1 Latin America RTU in Smart Grid Industry, by Country, 2022 – 2030 (USD Million)
- 9.18.1 Latin America RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.19 Latin America RTU in Smart Grid Industry, by Size, 2022 – 2030
- 9.19.1 Latin America RTU in Smart Grid Industry, by Size, 2022 – 2030 (USD Million)
- 9.20 Latin America RTU in Smart Grid Industry, by Voltage, 2022 – 2030
- 9.20.1 Latin America RTU in Smart Grid Industry, by Voltage, 2022 – 2030 (USD Million)
- 9.21 Latin America RTU in Smart Grid Industry, by Deployment, 2022 – 2030
- 9.21.1 Latin America RTU in Smart Grid Industry, by Deployment, 2022 – 2030 (USD Million)
- 9.22 Latin America RTU in Smart Grid Industry, by Application, 2022 – 2030
- 9.22.1 Latin America RTU in Smart Grid Industry, by Application, 2022 – 2030 (USD Million)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.23.1.1 The Middle-East and Africa RTU in Smart Grid Industry, by Country, 2022 – 2030 (USD Million)
- 9.23.1 The Middle-East and Africa RTU in Smart Grid Industry, 2022 – 2030 (USD Million)
- 9.24 The Middle-East and Africa RTU in Smart Grid Industry, by Size, 2022 – 2030
- 9.24.1 The Middle-East and Africa RTU in Smart Grid Industry, by Size, 2022 – 2030 (USD Million)
- 9.25 The Middle-East and Africa RTU in Smart Grid Industry, by Voltage, 2022 – 2030
- 9.25.1 The Middle-East and Africa RTU in Smart Grid Industry, by Voltage, 2022 – 2030 (USD Million)
- 9.26 The Middle-East and Africa RTU in Smart Grid Industry, by Deployment, 2022 – 2030
- 9.26.1 The Middle-East and Africa RTU in Smart Grid Industry, by Deployment, 2022 – 2030 (USD Million)
- 9.27 The Middle-East and Africa RTU in Smart Grid Industry, by Application, 2022 – 2030
- 9.27.1 The Middle-East and Africa RTU in Smart Grid Industry, by Application, 2022 – 2030 (USD Million)
- Chapter 10. Company Profiles
- 10.1 [company123]
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.1 [company123]
List Of Figures
Figures No 1 to 29
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Key Player:
- ABB
- Schneider Electric
- Siemens
- Iskra Sistemi
- General Electric
- Honeywell
- Schweitzer Engineering
- Red Lion
- Wescon Group
- Dongfang Electronics
- Nari Group
- TopRank
- Prestigious Discovery
- Arliscoputra Hantama
- Others
FAQs
“Asia Pacific” region will lead the global RTU in Smart Grid market during the forecast period 2022 to 2030.
The key factors driving the market [Growth Factors].
The key players operating in the RTU in Smart Grid market are ABB, Schneider Electric, Siemens, Iskra Sistemi, General Electric, Honeywell, Schweitzer Engineering, Red Lion, Wescon Group, Dongfang Electronics, Nari Group, TopRank, Prestigious Discovery, Arliscoputra Hantama.
The global RTU in Smart Grid market is expanding growth with a CAGR of approximately 5.5% during the forecast period (2022 to 2030).
The global RTU in Smart Grid market size was valued at USD 267 Million in 2021 and it is projected to reach around USD 410 Million by 2030.