Europe Power System Simulator Market Introduction and Overview
According to SPER Market Research, the Europe Power System Simulator Market is estimated to reach USD 535.12 million by 2033 with a CAGR 6.59%.
The report includes an in-depth analysis of the Europe Power System Simulator Market, including market size and trends, product mix, distribution channels, and supplier analysis. A software tool called the power system simulator is used to simulate the production and distribution of electricity under controlled conditions, under the observation of power system engineers. This system primarily focusses on three aspects of power system analysis: economic dispatch computation, power flow calculation, and fault calculation. The use of power system simulators reduces costs and saves time. It finds wide applicability in short-term operational simulations, long-term generation, and transmission expansion planning. Power system simulation entails modelling power generation equipment, planning the integration of power plants into the electric grid, and estimating generator control system parameter values.
- In June 2021, Fuji Electric Co., Ltd. will offer the 7500WX Series, a high-capacity uninterruptible power supply system.
- Siemens provides a wide range of simulation tools, including the PSS® family of software solutions. Siemens simulators offer advanced capabilities for power system analysis, optimisation, and control. The company has concentrated on incorporating artificial intelligence (AI) and machine learning (ML) techniques into their simulations to improve system monitoring, predictive analytics, and decision-making support.
Market Opportunities and Challenges
Opportunities: Increasing demand for renewable energy sources drives the demand for power system simulators:
The growing use of renewable energy sources such as solar and wind presents difficulties to power system stability and reliability. Power system simulators enable the modelling and simulation of renewable energy integration, assisting utilities and system operators in determining the impact of intermittent generation, grid restrictions, and control strategies for optimal integration. With an increased emphasis on energy efficiency and sustainability in the power sector, there is a strong demand for power system simulators, which allow for the evaluation of energy management and optimisation approaches, demand response tactics, and energy storage systems. These simulators assist utilities and researchers in identifying opportunities for energy savings, lowering carbon emissions, and achieving sustainability objectives.
Challenges: The market for power system simulators is facing significant challenges in keeping up with the increasing complexity of contemporary power systems, particularly with the addition of renewable energy sources. Power systems are shifting from centralised generation to decentralised networks, which include intermittent and variable renewable sources like solar and wind. Integrating these varied energy sources while maintaining grid stability and reliability is a challenging undertaking. Power system simulators must accurately represent the interactions of various generation sources, energy storage systems, and demand patterns. This complexity is heightened by the necessity to account for weather conditions, voltage changes, and reactive power issues. Ensuring that simulations accurately reflect the real-world behaviour of these complex systems is a significant task.
Market Competitive Landscape
The power system simulator market is competitive, with many global and international companies. To increase their market position, significant firms use a variety of growth tactics, including partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the market's major players include ABB Ltd, Atos SE, Eaton Corporation plc, Energy Exemplar, ETAP, Fuji Electric Co, Ltd, General Electric Company (GE), Neplan AG, OPAL-RT Technologies, Inc, Open Systems International, Inc (OSI), PowerWorld Corporation, RTDS Technologies Inc, Schneider Electric SE, and Siemens AG.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Module, By Component, By End User
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| Regions covered | Germany, France, Italy, UK, Russia, and the Rest of Europe
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| Companies Covered | ABB Ltd, Atos SE, Eaton Corporation plc, Energy Exemplar, ETAP, Fuji Electric Co, Ltd, General Electric Company (GE), Neplan AG, OPAL-RT Technologies, Inc, Open Systems International, Inc (OSI), PowerWorld Corporation, RTDS Technologies Inc, Schneider Electric SE, Siemens AG.
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COVID-19 Impact on Europe Power System Simulator Market
The pandemic's effects on the world economy have reduced demand for new energy infrastructure projects, particularly those that use Power System Simulation. The limitations on travel and in-person meetings have also made it more difficult for businesses to carry out their regular operations, which has delayed the market's expansion. However, the epidemic has also brought attention to how crucial robust and dependable power systems are. Additionally, the rise in home energy usage in many nations might be attributed to remote employment and education. Because of this, utilities and grid operators are in greater need of Power System Simulation software to help them optimise their systems and prepare for this increasing energy demand.
Key Target Audience:
- Utility Companies
- Power Plant Operators
- Grid Operators
- Government and Regulatory Bodies
- Engineering and Consulting Firms
- Educational and Research Institutions
- Industrial and Manufacturing Companies
- Software and Technology Providers
- Renewable Energy Companies
- Investors and Financial Institutions
Our in-depth analysis of the Europe Power System Simulator Market includes the following segments:
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By Module:
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Load flow
Harmonics
Short circuit
Device Coordination Selectivity
Arc Flash
Others
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By Component:
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Hardware
Software
Services
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By End User:
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Power
Industrial
Others
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Key Topics Covered in the Report:
- Europe Power System Simulator Market Size (FY’2024-FY’2033)
- Overview of Europe Power System Simulator Market
- Segmentation of Europe Power System Simulator Market By Module (Load flow, Harmonics, Short circuit, Device Coordination Selectivity, Arc Flash, Others)
- Segmentation of Europe Power System Simulator Market By Component (Hardware, Software, Services)
- Segmentation of Europe Power System Simulator Market By End User (Power, Industrial, Others)
- Statistical Snap of Europe Power System Simulator Market
- Expansion Analysis of Europe Power System Simulator Market
- Problems and Obstacles in Europe Power System Simulator Market
- Competitive Landscape in the Europe Power System Simulator Market
- Impact of COVID-19 and Demonetization on Europe Power System Simulator Market
- Details on Current Investment in Europe Power System Simulator Market
- Competitive Analysis of Europe Power System Simulator Market
- Prominent Players in the Europe Power System Simulator Market
- SWOT Analysis of Europe Power System Simulator Market
- Europe Power System Simulator Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Power System Simulator Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Power System Simulator Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Power System Simulator Market
7. Europe Power System Simulator Market, By Module (USD Million) 2020-2033
7.1. Europe Power System Simulator Market Size, Share and Forecast, By Module, 2020-2026
7.2. Europe Power System Simulator Market Size, Share and Forecast, By Module, 2027-2033
7.3. Load flow
7.4. Harmonics
7.5. Short circuit
7.6. Device Coordination Selectivity
7.7. Arc Flash
7.8. Others
8. Europe Power System Simulator Market, By Component (USD Million) 2020-2033
8.1. Europe Power System Simulator Market Size, Share and Forecast, By Component, 2020-2026
8.2. Europe Power System Simulator Market Size, Share and Forecast, By Component, 2027-2033
8.3. Hardware
8.4. Software
8.5. Services
9. Europe Power System Simulator Market, By End User (USD Million) 2020-2033
9.1. Europe Power System Simulator Market Size, Share and Forecast, By End User, 2020-2026
9.2. Europe Power System Simulator Market Size, Share and Forecast, By End User, 2027-2033
9.3. Power
9.4. Industrial
9.5. Others
10. Europe Power System Simulator Market Forecast, 2020-2033 (USD Million)
10.1. Europe Power System Simulator Market Size and Market Share
11. Europe Power System Simulator Market, By Region, 2020-2033 (USD Million)
11.1. Europe Power System Simulator Market Size and Market Share By Region (2020-2026)
11.2. Europe Power System Simulator Market Size and Market Share By Region (2027-2033)
11.3. Germany
11.4. France
11.5. Italy
11.6. UK
11.7. Russia
11.8. Rest of Europe
12. Company Profile
12.1. ABB Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Atos SE
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Eaton Corporation plc
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Energy Exemplar
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. ETAP
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Fuji Electric Co Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. General Electric Company (GE)
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Neplan AG
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. OPAL-RT Technologies, Inc
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Open Systems International, Inc (OSI)
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. PowerWorld Corporation
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. RTDS Technologies Inc
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Schneider Electric SE
12.13.1. Company details
12.13.2. Financial outlook
12.13.3. Product summary
12.13.4. Recent developments
12.14. Siemens AG
12.14.1. Company details
12.14.2. Financial outlook
12.14.3. Product summary
12.14.4. Recent developments
12.15. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links