Industrial Low Voltage Digital Substation Market Size - By Component, By Architecture (Process, Bay, Station), By Installation (New, Refurbished), Regional Outlook & Growth Forecast, 2024 – 2032

Industrial Low Voltage Digital Substation Market Size

Industrial Low Voltage Digital Substation Market was valued at USD 819.7 million in 2023 and is to record over 7.7% CAGR from 2024 to 2032, driven by the increasing demand for efficient power distribution systems, advancements in digital technology, and the need for improved grid reliability are significant contributors. According to the International Energy Agency (IEA), the global electricity grid saw an annual investment of USD 332 billion, with around 20% of this amount allocated to digital automation, which in turn creates a favourable scenario for digital substation industry growth across the globe.
 

Additionally, the shift towards renewable energy sources and the integration of smart grid technologies further bolster market growth. The industrial sector's emphasis on automation and the rising adoption of IoT in energy management also play crucial roles. These elements collectively ensure a robust expansion of the low voltage digital substation market.
 

Industrial Low Voltage Digital Substation Market Trends

The industrial low voltage digital substation industry is experiencing significant growth driven by the increasing demand for efficient and reliable power distribution systems. Key trends include the integration of advanced digital technologies such as IoT, AI, and machine learning to enhance monitoring, control, and predictive maintenance capabilities.
 

Additionally, the shift towards renewable energy sources and the need for smart grid solutions are propelling the adoption of digital substations. The market is also influenced by the rising investments in grid modernization projects, stringent regulatory standards for energy efficiency, and the growing focus on reducing operational costs and improving system reliability. As a result, vendors are focusing on developing scalable, interoperable, and secure solutions to cater to the evolving needs of the industry.
 

Industrial Low Voltage Digital Substation Market Analysis

The electrical systems segment is projected to exceed USD 480 million by 2032. This growth is driven by technological advancements that enhance efficiency and integration, the rising demand for automation in industrial processes, and the emphasis on energy efficiency and sustainability. The expansion and modernization of industrial infrastructure necessitate advanced substation technologies, while improved reliability and safety features attract industries seeking to minimize downtime and ensure secure operations. Additionally, favorable government policies and regulations promoting smart grid technologies further stimulate market growth, contributing to the overall increase in market value.
 

The new substations segment is projected to witness about 8.5% CAGR through 2032. The industrial low voltage digital substation market is experiencing significant growth due to the increasing installation of new substations. This expansion is fueled by the modernization of industrial infrastructure, technological advancements enhancing efficiency and integration, and the rising demand for automation. Additionally, the push for energy efficiency and sustainability drives the adoption of advanced digital substations. The need for reliable and safe operations further boosts market growth, supported by favorable government policies and regulations promoting smart grid technologies.
 

The Asia Pacific industrial low voltage digital substation market is expected to surpass USD 580 million by 2032. This growth is driven by the increasing adoption of automation and smart grid technologies, the need for enhanced power quality and reliability, and the rising demand for efficient energy management systems. Additionally, the region's expanding industrial sector and government initiatives to modernize aging power infrastructure are contributing to market expansion. The integration of advanced communication and monitoring technologies in substations further supports the development of a robust and resilient electrical network, fueling the market's upward trajectory.
 

The U.S. industrial low voltage digital substation market is experiencing robust growth driven by advancements in automation, grid modernization initiatives, and the integration of smart technologies. Key factors include enhanced operational efficiency, increased reliability, and better asset management capabilities. This growth is supported by ongoing investments in infrastructure upgrades and the adoption of digital solutions to meet evolving energy demands and regulatory requirements.
 

Industrial Low Voltage Digital Substation Market Share

ABB holds a significant share in the industrial low voltage digital substation industry, leveraging its expertise in advanced digital technologies. As a leader, ABB integrates intelligent solutions that enhance operational efficiency, reliability, and safety across various industrial sectors. Their digital substations offer robust capabilities in monitoring, control, and automation, supporting the transition towards smarter and more resilient electrical infrastructure globally.
 

Industrial Low Voltage Digital Substation Market Companies

Major key players operating across the industrial low voltage digital substation industry are:

• ABB
• Cisco Systems, Inc.
• Eaton Corporation
• General Electric
• Hitachi Energy
• Hubbell
• Larson & Toubro Limited
• Locamation
• Netcontrol Group
• NR Electric Co. Ltd.
• Ormazabal
• Powell Industries
• Schneider Electric
• Siemens
• Toshiba Energy Systems & Solutions Corporation
• WEG
• WAGO
   

Industrial Low Voltage Digital Substation Industry News

• In March 2024, WEG reached a notable achievement by activating a digital substation for energy transmission, highlighting its proficiency in advancing grid technology and dedication to improving efficiency and reliability. This milestone signifies a pivotal move in upgrading power infrastructure to satisfy increasing electricity needs, in line with industry shifts towards digitalization and sustainability.
   
• In September 2022, ABB switchgear played a crucial role in maintaining continuous power supply for ABB Formula E event across Indonesia, demonstrating ABB's commitment to sustainable energy solutions and its support for prestigious international gatherings. This partnership underscores ABB's dedication to dependable and efficient electrical infrastructure, advancing the cause of sustainable mobility.
   

This industrial low voltage digital substation market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Component

• Substation automation system
• Communication network
• Electrical system
• Monitoring & control system
• Others

Market, By Architecture

• Process
• Bay
• Station

Market, By Installation

• New
• Refurbished

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Chile