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Asia Pacific Utility Scale Digital Substation Market Size

Report ID: GMI11280
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Utility Scale Digital Substation Market Size

Asia Pacific Utility Scale Digital Substation Market was valued at USD 1.4 billion in 2023 and is set to expand at more than 6.5% CAGR from 2024 to 2032, driven by the increasing demand for efficient and reliable power distribution along with rapid urbanization and industrialization across the region.

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The modernization of aging electrical infrastructure, coupled with substantial investments in smart grid technologies, is also a significant factor. The adoption of advanced digital technologies in substations to improve operational efficiency and reduce downtime further contributes to this positive outlook.

Asia Pacific Utility Scale Digital Substation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Utility Scale Digital Substation Market Size in 2023:	USD 1.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 2.4 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) :

Asia Pacific market for utility scale digital substation was worth over USD 1.4 billion in 2023 and is anticipated to register 6.5% CAGR between 2024 to 2032, driven by rapid urbanization and industrialization across the region.

Asia Pacific utility scale digital substation industry from the new segment will record 7.5% CAGR through 2032, driven by the increasing demand for advanced power infrastructure to support the region's rapid urbanization and industrialization.

China utility scale digital substation industry size may reach USD 850 million by 2032, owing to country's ongoing efforts to modernize its power infrastructure.

ABB, CG Power & Industrial Solutions Ltd., Efacec, Fuji Electric, GE Grid Solutions, Hitachi Energy, Locamation, L&T Electrical and Automation, NR Electric Co., Ltd., and Rockwell Automation, Inc., among others.