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Industrial Transmission Substation Market Analysis

Report ID: GMI11401
Published Date: Nov 2024
Report Format: PDF

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Industrial Transmission Substation Market Analysis

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The conventional segment is projected to surpass USD 31.7 billion by 2034 since conventional industrial transmission substations, including those with air-insulated switchgear (AIS) and traditional transformers, continue to be widely used across various regions due to their long-established infrastructure. These substations are robust, reliable, and have a proven track record in ensuring the stability of power distribution systems, making them the preferred choice in many markets.

Industrial Transmission Substation Market Share, By Component, 2024

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The electrical systems segment in the industrial transmission substation market is estimated to achieve a CAGR of over 3.2% through 2034, since many regions are focused on upgrading aging electrical infrastructure to meet the growing demand for electricity. This modernization involves the replacement of older components with more advanced electrical systems, such as high-efficiency transformers, circuit breakers, and switchgear. The need for such upgrades is boosting the demand for electrical systems in industrial transmission substations.

U.S. Industrial Transmission Substation Market Size, 2022 - 2034, (USD Billion)

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The U.S. industrial transmission substation market is set to cross USD 3.1 billion by 2034 since a significant portion of the U.S. industrial transmission substation infrastructure is aging, and there is an urgent need to modernize and replace outdated equipment. This includes upgrading transformers, circuit breakers, and switchgear to improve efficiency, reliability, and capacity. With federal and state governments investing heavily in infrastructure upgrades, the market is poised for substantial growth.

Asia Pacific countries, particularly China, India, Japan, and Southeast Asian nations, are undergoing rapid industrialization and urbanization. These countries are seeing a strong demand for reliable power systems to sustain their growing manufacturing industries, which rely on stable, high-capacity electricity distribution. This growth is driving a substantial increase in electricity consumption, requiring the expansion and upgrade of power industrial transmission infrastructure, including substations, to ensure reliable power delivery to growing industrial and residential areas.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of industrial transmission substation reached USD 22.9 billion in 2023 and will grow at 3.2% CAGR between 2024 and 2032, fueled by growing energy demand, urbanization, and infrastructure development.

The electrical system segment will achieve 3.1% CAGR from 2024 to 2032, propelled by its critical role in managing and distributing electrical power efficiently.

Asia Pacific market will register USD 15.9 billion through 2032, owing to region's extensive infrastructure development and investments in modernizing power grids to support growing urban areas and industrial facilities.

Key players operating in the industry are ABB, CG Power & Industrial Solutions Ltd., Eaton, Efacec, General Electric, Hitachi Energy Ltd., L&T Electrical and Automation, Locamation, Open System International, Inc., Rockwell Automation, Inc., Schneider Electric, Siemens, Tesco Automation Inc., and Texas Instruments Incorporated, among others.

The global market for industrial transmission substation was reached USD 24.3 billion in 2024 and is estimated to grow at a 3.3% CAGR from 2025 to 2034, driven by increasing demand for reliable and efficient power distribution systems.

The conventional segment is projected to surpass USD 31.7 billion by 2034 as these substations, including air-insulated switchgear (AIS) and traditional transformers, are robust and reliable, ensuring stable power distribution.

The electrical systems segment is estimated to achieve a CAGR of over 3.2% through 2034, due to the focus on upgrading aging electrical infrastructure to meet growing electricity demand.

The U.S. industrial transmission substation market is set to cross USD 3.1 billion by 2034, led by the urgent need to modernize and replace outdated equipment, supported by significant federal and state government investments.

Major players in the industry include ABB, CG Power and Industrial Solutions, Eaton, Efacec, General Electric, Hitachi Energy, L&T Electrical and Automation, Locamation, Open System International, Rockwell Automation, Schneider Electric, Siemens, Texas Instruments, and Tesco Automation.