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Industrial Digital Substation Market Share

Report ID: GMI8971
Published Date: Apr 2024
Report Format: PDF

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Industrial Digital Substation Market Share

Industrial Digital Substation Company Market Share Analysis, 2023

Siemens Energy emerges as dominant player in the market, owing to its extensive product portfolio, technological innovation, and strong global presence. The company's comprehensive range of digital switchgear, transformers, and automation solutions, including the pioneering high-voltage system with integrated edge computing technology, positions it as a preferred choice for grid operators seeking advanced digital solutions.

Industrial Digital Substation Market Companies

Some of the major key players operating across the industrial digital substation industry are:

ABB
CG Power and Industrial Solutions Ltd.
Cisco Systems, Inc.
Eaton
Efacec
GE Grid Solutions, LLC
Hitachi Energy
Hubbell
Larson & Toubro Limited
Locamation
Netcontrol Group
NR Electric Co. Ltd.
Powell Industries
Rittal GmbH & Co. KG
Schneider Electric SE
Siemens Energy
Toshiba Energy Systems & Solutions Corporation

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of industrial digital substation was reached USD 4.1 billion in 2023 and will witness 7.2% CAGR from 2024 to 2032, driven by the integration of renewable energy sources, need for better network management, and adoption of smart grid technologies.

The station architecture segment in the industrial digital substation market is likely grow at 6.5% CAGR till 2032, as modern designs incorporate digital technologies such as intelligent electronic devices (IEDs), communication networks, and automation systems for enhancing operational efficiency, reliability, and safety.

Aisa Pacific industrial digital substation market is projected to grow at over USD 2.8 billion by 2032, driven by rapid industrialization, renewable energy growth, government support, a growing population, and technological advancements.

ABB, CG Power and Industrial Solutions Ltd., Cisco Systems, Inc., Eaton, Efacec, GE Grid Solutions, LLC, Hitachi Energy, Hubbell, Larson & Toubro Limited, Locamation, Netcontrol Group, NR Electric Co. Ltd., Powell Industries, Rittal GmbH & Co. KG, Schneider Electric SE, Siemens Energy and Toshiba Energy Systems & Solutions Corporation