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North America Low Voltage Digital Substation Market Trends

Report ID: GMI11450
Published Date: Sep 2024
Report Format: PDF

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North America Low Voltage Digital Substation Market Trends

North American low voltage digital substation market is driven by several key trends. These include the integration of advanced automation and IoT technologies for improved monitoring and maintenance, adoption of digital substations for smart grid transition, increased demand for managing decentralized power generation from renewable sources, shift to modular and compact designs for faster installation, and heightened focus on cybersecurity. The U.S. Department of Energy reports that digital substation technologies can reduce outage duration by up to 30%, underscoring their significant impact on grid reliability and operational efficiency. This statistic highlights the growing importance of digital substations in modernizing power infrastructure and improving overall system performance.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America low voltage digital substation was worth USD 366.5 million in 2023 and is expected to grow at 6.6% CAGR from 2024 to 2032, due to the increasing demand for modernized and efficient power distribution systems.

New installations segment in North America low voltage digital substation market held a decent share in 2023 and will grow at over 7.5% CAGR through 2032, fueled by the demand for modern power infrastructure, renewable energy expansion.

The U.S. low voltage digital substation market is projected to exceed USD 540 million by 2032, driven by power grid modernization investments, smart grid technology integration, and renewable energy adoption.

ABB, Cisco, CG Power & Industrial Solutions, Efacec, Eaton, Emerson Electric, General Electric, Hitachi Energy, Igrid T&D among others.