Home > Energy & Power > Electrical Equipment > Substation > Low Voltage Digital Substation Market

Low Voltage Digital Substation Market Trends

Report ID: GMI9653
Published Date: May 2024
Report Format: PDF

Download Free Sample

Low Voltage Digital Substation Market Trends

The digital substation industry is gradually embracing digitalization and smart grid technologies to enhance grid reliability, efficiency, and flexibility, significantly influencing market dynamics. There is an increasing focus on implementing robust cybersecurity measures to protect digital substations from cyber threats, ensuring data integrity and system resilience. Utilities are also investing in advanced low voltage digital substations to optimize power flows, integrate renewable energy sources, and support the electrification of transportation.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of low voltage digital substation was reached USD 1.3 billion in 2023 and will record 7.7% CAGR during 2024 to 2032, propelled by the increasing demand for reliable and efficient power supply.

The electrical systems component segment of the low voltage digital substation market recorded decent growth in 2023 and will cross USD 800 million by 2032, driven by enhanced efficiency, improved reliability, and cost-effective solutions.

Asia Pacific low voltage digital substation market size is anticipated to exceed USD 980 million by 2032, driven by escalating demand for robust power infrastructure to accommodate burgeoning industries.

ABB, Belden Inc, Cisco Systems, Inc, Eaton, General Electric, Hubbell, Hitachi Energy, and Locamation among others.