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Asia Pacific Low Voltage Digital Substation Market Trends

Report ID: GMI11465
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Low Voltage Digital Substation Market Trends

The Asia-Pacific low voltage digital substation industry is driven by the integration of IoT and AI technologies, enhancing operational efficiency and enabling real-time monitoring. The expansion of renewable energy sources and smart city initiatives further fuels demand. A recent report by the International Energy Agency (IEA) indicates that renewable energy capacity in the Asia-Pacific region is expected to increase by over 60% between 2020 and 2025, necessitating advanced digital substation infrastructure.

Market growth is also propelled by investments in infrastructure modernization and efforts to reduce operational costs. These factors collectively drive the adoption of intelligent, reliable, and adaptable substation systems across the region, aligning with the broader transition towards smart grid solutions and automation in the energy sector.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for low voltage digital substation was worth over USD 538.2 million in 2023 and is expected to grow at a CAGR of 7.1% from 2024 to 2032, due to rapid urbanization and industrial expansion.

The new installation segment of Asia Pacific low voltage digital substation market is projected to witness more than 8% CAGR through 2032, fueled by rising investments in infrastructure development and modernization across the region.

China low voltage digital substation market is projected to surpass USD 360 million by 2032, driven by significant infrastructure investments and smart grid expansion, along with the integration of IoT and AI that enhances operational efficiency and real-time monitoring.

Efacec, Fuji Electric, General Electric, Hitachi Energy, L&T Electrical and Automation, Locamation, NR Electric, and Rockwell Automation among others.