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Asia Pacific Industrial Transmission Substation Market Trends

  • Report ID: GMI11426
  • Published Date: Sep 2024
  • Report Format: PDF

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.
 

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Asia Pacific industrial transmission substation industry was valued at USD 22.9 billion in 2023 and will register a 3.2% CAGR between 2024 and 2032 thrusted by rapid industrialization and urbanization.

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.

China industrial transmission substation market is anticipated to surpass USD 13 billion by 2032, fueled by rapid industrial growth and urban expansion.

Hitachi Energy, L&T Electrical and Automation, Locamation, Open System International, and Rockwell Automation, among others.

Asia Pacific Industrial Transmission Substation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 9
  • Countries covered: 5
  • Pages: 100
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