Home > Energy & Power > Electrical Equipment > Substation > Asia Pacific Medium Voltage Digital Substation Market

Asia Pacific Medium Voltage Digital Substation Market Trends

Report ID: GMI9906
Published Date: Jun 2024
Report Format: PDF

Download Free Sample

Asia Pacific Medium Voltage Digital Substation Market Trends

Asia-Pacific medium voltage digital substation industry is experiencing notable trends, including the increasing adoption of smart grid technologies and IoT integration, enhancing grid efficiency and real-time monitoring. For instance, in May 2022, Japan launched a USD 155 billion funding program to boost intelligent power grid infrastructure. This initiative aims to improve grid reliability and utilize advanced technology, driving growth in the substation market. Governments and utilities are investing heavily in modernizing aging power infrastructure to improve reliability and resilience. Additionally, advancements in digital protection, control features, and big data analytics are further propelling market growth, aligning with the region's focus on energy efficiency and sustainability.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for medium voltage digital substation was reached USD 2.2 billion in 2023 and will exhibit 6% CAGR from 2024 to 2032, attributed to rapid urbanization, industrialization, and the growing demand for reliable power supply.

The industrial segment in the Asia Pacific medium voltage digital substation market will garner more than USD 2 billion by 2032, owing to escalating electricity demand from manufacturing facilities and industrial complexes.

China medium voltage digital substation industry will accrue USD 1.3 billion by 2032, fueled by the ambitious infrastructure projects, coupled with efforts to modernize its power grid, extensive urbanization and industrial expansion.

ABB, CG Power & Industrial Solutions Ltd., Fuji Electric, General Electric, Hitachi Energy Ltd., L&T Electrical and Automation, NR Electric Co., Ltd., Rockwell Automation, Inc., RTE international, Schneider Electric, and Siemens, among others.