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Industrial Substation Market Share

Report ID: GMI8429
Published Date: Mar 2024
Report Format: PDF

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Industrial Substation Market Share

Company Market Share Analysis, 2023, (%)

ABB commands a significant share in the industrial substation business due to its advanced technologies, reliable products, and global presence. Renowned for its high-quality substations, ABB offers comprehensive solutions tailored to diverse industrial needs, securing its prominent position in the market.

Industrial Substation Market Companies

Some of the major key players are:

ABB
Belden Inc.
Cisco Systems, Inc.
Eaton
Efacec
General Electric
Hitachi Energy Ltd.
Locamation
Netcontrol Group
NR Electric Co., Ltd.
Rockwell Automation, Inc.
Schneider Electric
Siemens
Tesco Automation Inc.
Texas Instruments Incorporated

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of industrial substation was reached USD 62.5 billion in 2023 and is projected to record a CAGR of over 3.7% through 2032, driven by increasing demand for reliable and efficient electricity distribution, spurred by urbanization and industrialization.

Conventional industrial substations segment held a market share of over 90% in 2023 and is anticipated to grow substantially in coming years, owing to their reliability and cost effectiveness.

Asia Pacific industrial substation industry is projected to garner over USD 44 billion by 2032, propelled by rapid urbanization, industrial expansion, and infrastructure development across the region.

ABB, Belden Inc., Cisco Systems, Inc., Eaton, Efacec, General Electric, Hitachi Energy Ltd., Locamation, Netcontrol Group, NR Electric Co., Ltd., Rockwell Automation, Inc. are some of the major industry contenders.