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High Voltage Digital Substation Market Trends

Report ID: GMI9752
Published Date: Jun 2024
Report Format: PDF

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High Voltage Digital Substation Market Trends

The high voltage digital substation industry is witnessing several significant trends fuelling its growth. There is a growing adoption of digital substations driven by the need for enhanced grid reliability, efficiency, and real-time monitoring capabilities. Utilities are investing in advanced high voltage digital substations to optimize integrate renewable energy sources, power flows, and support the electrification of transportation. Additionally, the shift towards renewable energy sources and the modernization of aging power infrastructure are driving demand for digital substations.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of high voltage digital substation was reached USD 727 million in 2023 and will grow at 9.9% CAGR between 2024 and 2032, due to the increasing focus on renewable energy integration and grid modernization initiatives worldwide.

High voltage digital substation from the utility segment will record 9% CAGR through 2032, driven by pivotal role in power distribution and management.

Asia Pacific high voltage digital substation industry size will surpass USD 600 million by 2032, attributed to rapid urbanization, burgeoning industrialization, and robust infrastructural development initiatives.

ABB, Belden Inc., Cisco Systems, Inc., Eaton, General Electric, Hubbell, Hitachi Energy, Locamation, Larson & Toubro Limited, and NR Electric Co. Ltd., among others.