Home > Energy & Power > Electrical Equipment > Substation > Utility Scale Digital Substation Market

Utility Scale Digital Substation Market Size

Report ID: GMI9240
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Utility Scale Digital Substation Market Size

Utility Scale Digital Substation Market was valued at USD 3.6 billion in 2023 and is projected to grow at a CAGR of over 7.1% from 2024 to 2032, surged by demand for reliable power transmission. As renewable energy integration increases and grid infrastructure ages, utilities are adopting digital substations for enhanced stability, flexibility, and efficiency.

Utility Scale Digital Substation Market

To get key market trends

Download Free Sample

Additionally, stringent regulatory standards and growing emphasis on grid modernization initiatives contribute to the business expansion. The industry will experiencing significant growth as utilities seek to upgrade their infrastructure to meet evolving demands of modern power systems.

Utility Scale Digital Substation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Utility Scale Digital Substation Market Size in 2023:	USD 3.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.1%
2032 Value Projection:	USD 6.7 Billion
Historical Data for:	2021 – 2023
No. of Pages:	120
Tables, Charts & Figures:	20
Segments covered:	Component, Architecture, Voltage level, Installation
Growth Drivers:	Expansion of smart grid networks Rising peak load demand Increasing electricity demand
Pitfalls & Challenges:	Slow paced technological evolution across the developing regions High dependency on imports

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility scale digital substation was reached USD 3.6 billion in 2023 and will grow at 7.1% CAGR from 2024 to 2032, driven by the demand for reliable power transmission.

Utility scale digital substation industry from the electrical system component segment will surpass USD 2.2 billion by 2032, owing to its substantial role in power transmission and distribution.

Asia Pacific utility scale digital substation market is set to cross USD 2.4 billion by 2032, propelled by the rapid urbanization and population growth.

ABB, Cisco Systems, Inc., CG Power and Industrial Solutions Ltd., Efacec, Eaton, GE Grid Solutions, LLC, Hubbell, Hitachi Energy, and Locamation among others.