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North America Industrial Medium Voltage Digital Substation Market Trends

Report ID: GMI11871
Published Date: Oct 2024
Report Format: PDF

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North America Industrial Medium Voltage Digital Substation Market Trends

The North American industrial medium voltage digital substation industry is evolving rapidly. Modular substation designs are gaining popularity, offering utilities flexibility and scalability for infrastructure expansion. Cybersecurity has become a critical focus, with increased investment in protective measures. The U.S. Department of Energy reported in 2022 that cyberattacks on the energy sector increased by 84% compared to the previous year, highlighting the urgent need for robust security protocols. Integration of AI and machine learning for predictive maintenance is enhancing operational efficiency and reducing downtime. Collaborations between technology providers and utilities are driving innovation and customized solutions. These developments signify a shift towards more intelligent and resilient power distribution systems in the region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The North American market for industrial medium voltage digital substation was crossed USD 781.5 million in 2023 and is expected to grow at a 5.5% CAGR from 2024 to 2032, driven by infrastructure modernization investments and smart grid technology adoption.

New installations segment is projected to achieve a CAGR of over 6.5% through 2032, propelled by the need for modernized infrastructure and renewable energy integration.

The U.S. market is expected to surpass USD 1 billion by 2032, led by the need for enhanced power reliability, infrastructure modernization, and renewable energy integration.

Prominent key players include in industry are ABB, CG Power, Cisco, Eaton, Efacec, Emerson Electric, Fuji Electric, General Electric, Hitachi Energy, Igrid T&D, NR Electric, One Energy Enterprises, Rockwell Automation, Schneider Electric, Siemens, SIFANG, Tekvel, Texas Instruments, and WEG.