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Utility Scale Transmission Substation Market Trends

  • Report ID: GMI11449
  • Published Date: Sep 2024
  • Report Format: PDF

Utility Scale Transmission Substation Market Trends

Utility-scale transmission substations are increasingly being designed with eco-friendly materials and energy-efficient technologies. The push towards reducing carbon footprints is leading to the adoption of green technologies in substation design and operation. The global push towards reducing carbon emissions and mitigating climate change has led to an increase in the adoption of renewable energy sources such as wind, solar, and hydropower. These renewable energy sources pose unique challenges for the traditional power grid and the need for decentralized generation for the smart grids which is further propelling the evolution of the utility-scale transmission substation market.
 

The security of transmission systems from cyber-attack is critical to maintaining grid stability and reliability. Utilities are investing in advanced cybersecurity measures including intrusion detection systems and secure communication protocols to protect against potential threats. The increasing focus on grid resilience and reliability is driving investments in the utility-scale transmission substation market. Utilities are prioritizing the hardening of their infrastructure to upgrade their substations with more robust and weather-resistant equipment, implementing redundancy measures and deploying advanced grid management systems that can quickly restore power in the event of an outage.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of utility scale transmission substation was worth over USD 58.7 billion in 2023 and is anticipated to grow at 2.3% CAGR through 2032, driven by the adoption of advanced technologies in transmission substations.

The conventional utility scale transmission substation segment held a decent market share in 2023 and is projected to cross USD 68.3 billion by 2032, owing to their cost advantage.

Asia-Pacific utility scale transmission substation market held a decent growth in 2023 and is anticipated to surpass USD 38.1 billion by 2032, driven by rapid urbanization, industrial expansion and increasing energy demand across the region.

ABB, CG Power & Industrial Solutions, Eaton, Efacec, General Electric, Hitachi Energy. among others.

Utility Scale Transmission Substation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 9
  • Countries covered: 20
  • Pages: 100
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