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Governments are implementing policies and frameworks that encourage investments in power infrastructure including high voltage transmission substations. The need for reliable and efficient electricity transmission is paramount as these aims to support their increasing demand. The high voltage transmission substations are critical for stepping up and stepping down voltages for efficient long-distance electricity transmission. There is a growing need for advanced substations capable of managing the variability and intermittent of these energy sources. Smart substations equipped with digital control systems, sensors, and automation technologies, are becoming more common as it can monitor and control electrical flows in real-time, improving grid reliability, reducing downtime and enhancing overall efficiency.
Additionally, these substations are crucial for high voltage in power transmission and distribution networks to ensure the efficient delivery of electricity over long distances. The focus on reducing carbon emissions and improving energy efficiency is leading to the deployment of high-voltage direct current substations, which offers lower transmission losses over long distances and making them ideal for connecting remote renewable energy generation sites to urban centers. Challenges such as high initial investment costs and the need for skilled labor for the installation and maintenance of these sophisticated systems persist.
Asia Pacific market for high voltage transmission substation was worth over USD 22.1 billion in 2023 and is anticipated to register 2.2% CAGR between 2024 to 2032, owing to rising demand for electricity.
Asia Pacific high voltage transmission substation industry from the conventional segment will record USD 25.1 billion by 2032, due to its reliability, reduced cyber threats, and the expansion of high-voltage transmission networks.
China high voltage transmission substation products industry size may reach USD 11.5 billion by 2032, due to ultra-high voltage technology and the expansion of industrial zones.
ABB, CG Power & Industrial Solutions Ltd., Eaton, Efacec, General Electric, Hitachi Energy Ltd., L&T Electrical and Automation, Rockwell Automation, Inc., Schneider Electric, Siemens, Texas Instruments Incorporated.