Market Challenges And Opportunities

Factors driving growth of the global transformer substation inspecting robot market:

The demand for substations is being swayed favorably by the rapid extension of current grid networks, as well as continuing grid modernization. State-owned utilities have made significant investments in the development of existing infrastructure, which is accelerating the substation inspection robot industry. Inspection robots can reduce manufacturing time, labor cost, and substation operation and maintenance expenses, as well as enhance inspection data quality and substation intelligence. The factor driving the market of transformer substation inspecting robot is the increasing demand for smart grids. The market size of smart grid technology in Asia Pacific region is reached 11.5% in 2021 and expected to reach to 17.9 % by 2023. Asia Pacific is expected to be the largest market of smart grid technology.

Also, the constant need to upgrade current networks is anticipated to fuel the growth of the transformer substation inspecting robots market. The growing need to reduce transmission and distribution losses is also propelling the substation automation industry forward. In addition, the necessity to minimize outage time by monitoring problems in real time and utilizing automated technologies to restore services which is expected to drive the substation inspection robots market. Substation demand has increased significantly as a result of large-scale suburbanization and continued industrial expansion in Asia Pacific. Fast development of robotic systems by Chinese and Japanese firms such as connected robotics, Ascent Robotics is projected to enhance demand and consumption for service robots in the area. The government declared the robotics industry, as well as AI and automation, as one of the key areas for high-end development in order to accelerate the growth of transformer substation inspection robot.

Moreover, the market's growth is driven by the existence of several personal service robot manufacturers in Asia such as Zhejiang Guozi Robotics, Shenzhen Langchixinchuang, Dali Technology. Furthermore, the Asia region's cheap raw material cost and labor cost is expected to boost the region's robot manufacturing operations.