Asia Pacific Industrial Transmission Substation Market - By Technology, By Component, By Category, By Voltage Level & Forecast, 2024 – 2032

Asia Pacific Industrial Transmission Substation Market Size

Asia Pacific industrial transmission substation market size, in 2023, was valued at USD 22.9 billion and is expected grow at a CAGR of 3.2% between 2024 and 2032 since it is experiencing robust growth, fuelled by several key factors.
 

The region's rapid industrialization and urbanization are driving the need for expanded and upgraded transmission infrastructure to meet rising electricity demands. Significant investments in renewable energy projects, particularly in China, India, and Australia, are leading to the development of substations capable of integrating renewable power into the grid.
 

Additionally, the push for grid modernization and digitalization is enhancing operational efficiency and reliability, with advanced digital substations becoming more prevalent. The growing focus on high-voltage transmission to efficiently transfer power over long distances, especially in vast countries like China and India, is further propelling market growth. Moreover, an increasing emphasis on energy efficiency and sustainability is driving the adoption of innovative technologies within substations, solidifying the market's expansion across the Asia Pacific region.
 

Asia Pacific Industrial Transmission Substation Market Trends

The increasing adoption of renewable energy sources, particularly solar and wind, is a major trend in the Asia Pacific region. Countries like China, India, and Australia are investing heavily in renewable energy projects, leading to the need for advanced transmission substations that can handle the integration of renewable power into the grid. This has driven the demand for substations equipped with technologies that can manage the variability and intermittency of renewable energy. The modernization of electrical grids is another crucial trend. As countries in the Asia Pacific region work to improve the reliability and efficiency of their power systems, there is a growing emphasis on digital substations. These substations leverage automation, real-time monitoring, and control systems to enhance operational efficiency, reduce downtime, and improve response times to grid disturbances. This trend is particularly prominent in developed economies like Japan and South Korea.
 

The demand for high-voltage transmission substations is rising as countries seek to transmit electricity over long distances more efficiently. This trend is particularly relevant in countries with vast geographical areas, such as China and India, where electricity needs to be transmitted from remote generation sites to urban centers. The development of ultra-high-voltage (UHV) transmission lines is a key component of this trend, enabling the transfer of large amounts of power with minimal losses.
 

Asia Pacific Industrial Transmission Substation Market Analysis

Based on technology, the conventional segment is expected to cross USD 28.8 billion by 2032 owing to the ongoing investments in the expansion of the transmission network to meet the increasing electricity demand driven by industrialization and urbanization. As countries in the region aim to improve grid stability and efficiency, conventional substations are often deployed due to their compatibility with existing infrastructure and their ability to handle high power loads effectively.
 

Based on component, the electrical system segment is anticipated to grow with CAGR more than 2.7% till 2032 owing to the increasing demand for reliable and efficient power distribution systems across the region. The electrical system components, which include transformers, circuit breakers, switchgear, and protection devices, are critical to the operation and safety of transmission substations. Many countries in the region are focusing on modernizing their aging grid infrastructure to improve reliability and reduce transmission losses. This involves the adoption of more sophisticated and efficient electrical systems, contributing to the growth of this segment.
 

China industrial transmission substation market is anticipated to surpass USD 13 billion by 2032. China continues to experience rapid industrial growth and urban expansion, leading to a significant increase in electricity demand. This has necessitated the development of robust transmission infrastructure to ensure a stable and reliable power supply to industrial sectors, driving the growth of the transmission substation market. The Chinese government is heavily investing in the expansion and modernization of the national power grid as part of its broader energy strategy.
 

Countries like India, Japan and South Korea are leading the global push toward renewable energy, with substantial investments in solar, wind, and hydropower projects. The integration of these renewable energy sources into the national grid requires the development of advanced transmission substations capable of handling the variability and distributed nature of renewable energy, further boosting the market.
 

Asia Pacific Industrial Transmission Substation Market Share

Companies like ABB and Siemens dominate the Asia Pacific industrial transmission substation industry due to their advanced technology, broad product portfolios, and strong brand reputations. They offer innovative solutions that enhance the efficiency, reliability, and safety of electrical systems. Their global presence and established relationships with utilities and governments enable them to secure and manage large-scale projects effectively. Additionally, their continuous investment in research and development ensures they remain at the forefront of technological advancements, further solidifying their market leadership.
 

Asia Pacific Industrial Transmission Substation Market Companies

• ABB
• CG Power & Industrial Solutions
• Efacec
• Eaton
• General Electric
• Hitachi Energy
• L&T Electrical and Automation
• Locamation
• Open System International
• Rockwell Automation
• Schneider Electric
• Siemens
• Texas Instruments Incorporated
• Tesco Automation
   

Asia Pacific Industrial Transmission Substation Industry News

• In January 2024, Jakson Infra has announced that it has finalized the commissioning of 400/220 ICT-1 (500 MVA), which is regarding bays on PGCIL substation of Bikaner-2 in India. In this project, there will be inclusion of 3X220kV and 1X400kV that bays that will be superior grid projects.
   

Asia Pacific Industrial Transmission Substation Market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million, Units” from 2021 to 2032, for the following segments:

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Market, By Technology

• Conventional
• Digital

Market, By Component

• Substation Automation System
• Communication Network
• Electrical System
• Monitoring & Control System
• Others

Market, By Category

• New
• Refurbished

Market, By Voltage Level

• Low
• Medium
• High

The above information has been provided for the following countries across the region:

• China
• India
• Japan
• South Korea
• Australia