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Asia Pacific Industrial Digital Substation Market Size

Report ID: GMI11400
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Industrial Digital Substation Market

Asia Pacific Industrial Digital Substation Market was valued at USD 1.5 billion in 2023 and is projected to expand at a CAGR of 6.6% between 2024 and 2032, due to the heightened investments in modernizing power infrastructure and an escalating demand for efficient and reliable energy distribution.

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Furthermore, factors such as rising industrialization, urbanization, and proactive government initiatives aimed at boosting grid automation are pivotal to the market's growth. As utilities strive for enhanced operational efficiency and minimized downtime, the demand for the advanced monitoring and control systems offered by digital substations is surging.

Asia Pacific Industrial Digital Substation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Industrial Digital Substation Market Size in 2023:	USD 1.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.6%
2032 Value Projection:	USD 2.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	50
Tables, Charts & Figures:	10
Segments covered:	Component, Architecture, Voltage Level, Installation
Growth Drivers:	Rising peak load demand Expansion of micro-grid networks Grid stability & security of supply concerns
Pitfalls & Challenges:	Slow paced technological evolution across the developing regions High dependency on imports

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Asia-Pacific industrial digital substation was worth over USD 1.5 billion in 2023 and is projected to expand at a CAGR of 6.6% through 2032, fueled by heightened investments in modernizing power infrastructure.

The electrical systems segment held a robust growth in 2023 and is anticipated to surpass USD 900 million by 2032, driven by increasing investments in power infrastructure and the need for enhanced energy efficiency and reliability.

The China industrial digital substation market held a decent growth in 2023 and is set to exceed USD 1 billion by 2032, driven by the demand for sophisticated and efficient power distribution systems.

ABB, CG Power & Industrial Solutions Ltd., Efacec, Fuji Electric, GE Grid Solutions, Hitachi Energy, Locamation among others.