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Utility Scale Substation Market Share

Report ID: GMI5765
Published Date: Nov 2024
Report Format: PDF

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Utility Scale Substation Market Share

Major companies like Hitachi, ABB, and Siemens hold a substantial share of the utility-scale substation market, capitalizing on their advanced technological capabilities, diverse product offerings, and wide global reach. These industry giants prioritize research and development, driving innovations in smart and digital switchgear solutions that enhance grid efficiency and reliability. Their strategic investments in state-of-the-art technologies allow them to stay ahead of the competition and meet the changing demands of contemporary power infrastructure.

Utility Scale Substation Market Companies

Major players operating in the utility scale substation industry are:

ABB
Belden
CG Power and Industrial Solutions
Cisco Systems
Eaton
Efacec
General Electric
Hitachi Energy
L&T Electrical and Automation
Locamation
Netcontrol Group
NR Electric
Open System International
Rockwell Automation
Schneider Electric
Siemens
Sifang
Tesco Automation
Texas Instruments

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global utility scale substation industry was valued at USD 63.3 billion in 2024 and is estimated to grow at a 2.2% CAGR from 2025 to 2034 due to rising global electricity demand and the ongoing integration of renewable energy sources.

The conventional segment in the market is anticipated to surpass USD 73.8 billion by 2034 as conventional substations are generally more cost-effective in terms of initial capital expenditure compared to newer technologies like gas-insulated substations (GIS).

The U.S. utility scale substation market is projected to surpass USD 13.1 billion by 2034 due to significant investments in modernizing its electrical grid infrastructure to improve efficiency, reliability, and capacity.

Key players in the industry include ABB, Belden, CG Power and Industrial Solutions, Cisco Systems, Eaton, Efacec, General Electric, Hitachi Energy, L&T Electrical and Automation, and Locamation.