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The utility-scale high voltage digital substation industry is witnessing significant growth, fuelled by their advantages in operational efficiency and real-time monitoring capabilities. Also, increasing adoption of automation and remote management tools is driving market growth, providing notable cost savings and enhanced system resilience. Additionally, regulatory pressures to reduce carbon emissions and improve grid performance are encouraging utilities to upgrade infrastructure with advanced digital solutions.
The utility-scale high voltage digital substations industry, within the electrical systems segment, is expected to surpass USD 316 million by 2032, driven by advancements in technology and increased demand for efficiency.
The market size of utility-scale high voltage digital substation was worth over USD 426 million in 2023 and is projected to grow at a CAGR of 9.4% through 2032, driven by advancements in digital technology and increasing demand for grid modernization.
Asia Pacific utility-scale high voltage digital substation market is predicted to surpass USD 350 million by 2032, fueled by rapid urbanization and infrastructure development, along with the focus on adopting advanced digital technologies to improve grid reliability and efficiency.
General Electric, Hitachi Energy, Hubbell, Larson & Toubro Limited, NR Electric Co. Ltd., Netcontrol Group, Powell Industries, and Siemens among others.