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Utility Scale Low Voltage Digital Substation Market Trends

Report ID: GMI10515
Published Date: Jul 2024
Report Format: PDF

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Utility Scale Low Voltage Digital Substation Market Trends

The utility scale low voltage digital substation industry is witnessing robust growth, fuelled by a rising appetite for dependable and efficient power distribution systems. Furthermore, heightened attention is being paid to cybersecurity, a critical aspect in safeguarding these infrastructures from potential threats. Concurrently, investments in smart grid infrastructure, coupled with governmental initiatives aimed at digitalizing the energy landscape, are further fuelling the market's expansion. According to the U.S. Department of Energy, investments in smart grid technologies are projected to reach USD 13.8 billion by 2025, underscoring the significant momentum in this sector.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility-scale low voltage digital substation was reached USD 571.1 million in 2023 and is projected to grow at 7.8% CAGR through 2032, driven by the increasing demand for reliable and efficient power distribution.

The station architecture segment in the utility scale low voltage digital substation market will grow at over 7% CAGR through 2032, owing to grid reliability, efficiency, and security by leveraging digital communication.

Asia Pacific utility-scale low voltage digital substation market is forecasted to surpass USD 400 million by 2032, propelled by the shift towards renewable energy sources.

ABB, Belden Inc., Eaton, General Electric, Hitachi Energy, Hubbell, Locamation, Larson & Toubro Limited, NR Electric Co. Ltd., Netcontrol Group, Ormazabal, and Powell Industries among others.