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Asia Pacific Utility Scale Digital Substation Market Trends

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

Asia Pacific Utility Scale Digital Substation Market Trends

The Asia Pacific utility-scale digital substation industry is witnessing significant trends that are shaping its growth. A major trend is the region's rapid adoption of smart grid technologies, driven by the need for more efficient and reliable power distribution. Governments are heavily investing in modernizing outdated electrical infrastructure, further boosting the demand for digital substations.
 

The integration of renewable energy sources, such as solar and wind, into national grids is also increasing, necessitating advanced digital substations for better management and stability. Additionally, there is a growing focus on enhancing grid resilience against cyber threats, leading to the implementation of sophisticated digital protection and monitoring systems. These trends collectively drive the market's expansion across Asia Pacific.

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.

Asia Pacific Utility Scale Digital Substation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 10
  • Countries covered: 5
  • Pages: 50
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