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North America Transmission Substation Market Size
- Report ID: GMI10713
- Published Date: Aug 2024
- Report Format: PDF
North America Transmission Substation Market Size
North America Transmission Substation Market was valued at USD 9.7 billion in 2023 and is expected grow at a CAGR of 3.8% from 2024 to 2032, due to the expanding energy infrastructure to support growing urban populations and industrial activities necessitates upgrades and new installations. The U.S. leads the market due to substantial investments in modernizing aging grids and integrating renewable energy sources. Canada is also investing heavily in transmission infrastructure to accommodate clean energy projects and improve grid reliability.
Mexico's growing economy and energy reforms are boosting demand for new substations to enhance electricity access and reliability. Technological advancements, such as smart grid solutions and advanced monitoring systems, further drive market expansion. Additionally, federal and state policies supporting infrastructure development and sustainability are contributing to market growth. Therefore, the market is evolving with increasing investments aimed at improving grid resilience and efficiency across the region.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Transmission Substation Market Size in 2023: | USD 9.7 Billion |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 3.8% |
| 2032 Value Projection: | USD 13.8 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 90 |
| Tables, Charts & Figures: | 100 |
| Segments covered: | Technology, Component, Category, Voltage Level, End Use |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
North America Transmission Substation Market Scope
