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Digital Substation Market Share

Report ID: GMI2441
Published Date: Nov 2024
Report Format: PDF

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Digital Substation Market Share

Major companies like Hitachi, ABB, and Siemens hold a substantial share of the utility-scale substation market, capitalizing on their advanced technological capabilities, diverse product offerings, and wide global reach. These industry giants prioritize research and development, driving innovations in smart and digital switchgear solutions that enhance grid efficiency and reliability. Their strategic investments in state-of-the-art technologies allow them to stay ahead of the competition and meet the changing demands of contemporary power infrastructure.

Digital Substation Market Companies

Major players operating in the digital substation industry are:

ABB
Belden Inc
Eaton
General Electric
Hitachi Energy
Locamation
Netcontrol Group
NovaTech.
NR Electric
OMICRON
Powell Industries
Ponovo Power
Rittal GmbH
Redeia
Schneider Electric
Siemens Energy
Transpower
Toshiba Energy Systems & Solutions
WEG

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market size for digital substation was valued at USD 8.3 billion in 2024 and is projected to reach USD 16.4 billion by 2034, driven by a CAGR of 7% from 2025 to 2034.

The electrical systems segment is anticipated to surpass USD 5.1 billion by 2034, driven by the increasing demand for automation, real-time monitoring, and advanced grid management solutions.

The U.S. market is projected to surpass USD 3.1 billion by 2034, driven by the increasing demand for grid modernization and renewable energy integration.

Major players in the industry include ABB, Belden Inc, Eaton, General Electric, Hitachi Energy, Locamation, Netcontrol Group, NovaTech, NR Electric, and OMICRON.