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Transmission Substation Market Trends

Report ID: GMI10349
Published Date: Jul 2024
Report Format: PDF

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Transmission Substation Market Trends

As the world shifts toward sustainable energy sources, the demand for efficient transmission systems that can integrate renewable energy like solar and wind is increasing. Renewable energy generation is often located in remote or decentralized areas, requiring an enhanced transmission infrastructure to transport electricity to urban centers. The integration of energy storage solutions and advanced grid management systems into transmission substations is becoming more common to ensure a steady flow of power.

The adoption of smart grid technologies is one of the most significant trends in the transmission substation market. Smart grids enable real-time monitoring, control, and optimization of power transmission, improving reliability and reducing operational costs. This is achieved through the use of sensors, communication technologies, and automation, which help to manage power distribution more efficiently, detect faults, and enable quicker restoration of services after outages. The growing trend towards digitalization of substations, including automation and remote control, is enhancing operational efficiency.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for transmission substation was reached USD 86 billion in 2024 and is estimated to grow at a 2.8% CAGR from 2025 to 2034, driven by increasing global demand for electricity and advancements in renewable energy integration.

The conventional segment in the transmission substation industry is anticipated to surpass USD 105 billion by 2034, due to continued reliance on traditional energy sources and significant investments in grid infrastructure.

The electrical systems segment is projected to achieve a CAGR of over 2.2% through 2034, led by the increasing demand for reliable, efficient, and robust power transmission infrastructure.

The U.S. transmission substation market is predicted to hit USD 10.5 billion by 2034, propelled by the need to modernize aging infrastructure and the growing adoption of renewable energy sources.

Major players operating in the transmission substation 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.