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Utility-Scale Substation Market Trends

Report ID: GMI5765
Published Date: May 2023
Report Format: PDF

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Utility-Scale Substation Market Trends

The electricity transmission and distribution (T&D) sector is likely to experience rapid expansion due to the increasing demand for efficient control systems. There is a growing focus on improving existing infrastructure and addressing the limited availability of reliable electrical grids in developing countries, creating significant business opportunities. The deployment of substations plays a crucial role in ensuring uninterrupted power supply and extending the lifespan of the power grid, thereby positively impacting the industry landscape. Moreover, favorable industrial and economic conditions, coupled with regulatory support, will further enhance the business environment.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The global market of utility-scale substation recorded a valuation of about USD 60.1 billion in 2023 and will reach over USD 77.8 billion by 2032.

The digital utility-scale substation market will surpass USD 5.5 billion and is poised to observe 5.5% CAGR from 2023 to 2032 owing to the growing need for reliable and secure electrical infrastructure in commercial, utility, and industrial settings.

Asia Pacific market for utility-scale substation will witness over 11,500 unit installation by 2032 owing to the increasing urbanization and infrastructure development across countries China and India.

Hitachi Energy Ltd., Efacec, NR Electric Co., Ltd., Siemens Energy, General Electric, Eaton, Schneider Electric, ABB, Cisco Systems, Inc., L&T Electrical and Automation, Open System International, Inc., SIFANG, and CG Power & Industrial Solutions Ltd.