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Industrial Transmission Substation Market Share

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

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Industrial Transmission Substation Market Share

Global Industrial Transmission Substation Company Market Share Analysis, 2024

Companies such as ABB and General Electric command a significant share of the industrial transmission substation industry due to their technical expertise, advanced product offerings, and widespread global presence. These industry leaders deliver innovative solutions, including digital substations, which facilitate real-time monitoring, improved automation, and predictive maintenance—critical components for ensuring modern grid stability and efficiency. Furthermore, their robust research and development capabilities enable them to introduce state-of-the-art technologies that support the integration of renewable energy and the development of smart grids.

Industrial Transmission Substation Market Companies

Major players operating in the industrial transmission substation industry are:

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
Tesco Automation

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.