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Digital Substation Market Size, By Component (Substation Automation System, Communication Network, Electrical System, Monitoring & Control System), Architecture, Application, Connectivity, Voltage Level, End-use, Installation & Forecast, 2022 - 2028

  • Report ID: GMI2441
  • Published Date: Feb 2022
  • Report Format: PDF

Industry Trends

Digital Substation Market Size exceeded USD 6.5 billion in 2021 and is anticipated to grow at a CAGR of over 7.3% from 2022 to 2028. The influx of advanced, secure, and flexible technologies has led to a sustainable industry platform.

Digital Substation Market Overview

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Increasing R&D expenditures by digital substation solution providers to augment their system portfolios and integrate a useful technological platform will enhance product penetration. Moreover, favorable schemes to incorporate smart & reliable monitor and control technologies to propel the life expectancy of electric infrastructure along with conservation of the living environment will drive the market growth.

Rapid digitalization and technological advancements will lay the foundation for smart electrical technologies

Digital Substation Market Share 

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Rapid digitalization and technological upgrades are some of the key factors compelling industry giants to lay the foundations for a spontaneous electrical environment. Growing consumer inclination toward smart & optimized electrical infrastructure will frame a competitive scenario. In addition, communication technology allows for effective feedback abilities, increased time for correcting failures, and fault detections, which, in turn, has propelled momentum across substation units. Furthermore, these systems have been an integral phenomenon for utilities and technology providers to club efforts for the effective monitoring of electrical transactions to further streamline the supply & demand across load centers.

Integration of renewable energy across mini grid networks will proliferate the digital substation market expansion

The incorporation of sustainable energy sources supported by favorable policies & schemes including feed-in-tariffs, net metering, and similar incentivization will complement the industry growth. Decentralized micro-grid networks coupled with the integration of renewable energy sources into these networks have augmented the advanced circuitry component demand for sustaining the varying frequencies across the network; this will further boost the product adoption. Additionally, networks integrated with renewable energy create varying wavelengths and frequency volatilities that require reliable circuit control & monitoring units, thereby proliferating the market progression.

Increasing investments in developing grid infrastructure along with the refurbishment of existing electrical infrastructure to spur the market value

Growing investments in upgrading & refurbishing old transmission lines coupled with the ongoing efforts to introduce smart energy infrastructure will produce a favorable business growth scenario. For instance, in April 2020, the National Energy & Utilities Regulatory Commission (NEURC) of Ukraine invested USD 240 million in developing the country’s grid infrastructure by the end of the year. In addition, unceasing operations pertaining to the repair and maintenance of electrical infrastructure for attaining stable grid operations across the power industry during the COVID-19 pandemic will foster the product demand.

Rising demand for upgraded & advanced control systems across the power distribution network will impel the digital substation market demand

The low-voltage segment is expected to reach USD 2 billion by 2028. These systems find a wide range of applications across process industries and the power & infrastructure sector, fueling the product demand. The burgeoning demand for intelligent control systems owing to favorable reforms for power distribution will positively sway the industry expansion. Furthermore, growing investments in the commercial sector along with the soaring real estate sector growth will further stimulate a growth in demand for digital substations during the forecast period.

The soaring energy demand along with government efforts to introduce a sustainable electricity distribution network to support the market revenue

The > 550 kV digital substation market has witnessed a substantial growth over the last few years due to the ongoing efforts to introduce decentralized power supply networks. Rapid technological advancements along with increasing investments across sustainable energy infrastructure are some of the key factors driving the demand for > 550 kV substations around the globe. Electrification measures in areas with limited grid access or complete isolation will positively sway the industry dynamics. The restructuring of various power markets along with government efforts to integrate smart monitoring & control technologies will further complement the business outlook.

Commendatory regulatory policies for the electrification and integration of micro-grid power networks will enhance the industry value

Governmental directives and strict regulations for utility-aided grid networks applied to the deployment of reliable electric infrastructure will positively sway the digital substation market growth. Favorable policies pertaining to the integration and electrification of micro-grid power networks across remote areas have further positively driven the product demand. Moreover, the incorporation of sustainable energy infrastructure by developing nations coupled with the ongoing influx of funds from various institutions including the World Bank, IFC, private authorities, and respective policy makers across developing nations will proliferate the industry dynamics.

Ongoing advancements in grid technology to replace conventional electrical equipment to accelerate product acceptance

The rising energy demand attributed to rising expenditures toward expanding high voltage electric networks for long routes along with the restoration and refurbishment of domestic infrastructure has reinforced the market expansion. Additionally, increasing focus on renewing existing electrical infrastructure and its components with smart & upgraded systems will enhance the industry revenue.

Soaring energy demand across North America will drive the market progression

Digital Substation Market Size 

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North America digital substation market is estimated to cross USD 2.5 billion by 2028. The rising energy demand across the U.S. credited to ongoing commercial & industrial infrastructure developments will further propel the regional product penetration. A paradigm shift toward aerial-bunched cables for overhead power lines will foster product deployment.

Furthermore, continuous economic growth will boost the regional micro grid infrastructure development, which, in turn, will proliferate the industry demand during the forecast period. However, the COVID-19 pandemic’s impact across the region has restricted the streamlined growth of the industry as well as project commissioning plans. The industry is slated to observe a substantial growth in the coming years owing to the easing of lockdown protocols coupled with mass vaccination augments across the region.

Joint ventures and the soaring energy demand to act as major stimuli for manufacturers and industry players

The major companies operating in the market include Emerson Electric, ABB, Tesco Automation, SIFANG, General Electric, Eaton, and Rockwell Automation. Ongoing acquisitions and joint ventures between various service providers along with favorable incentives for deploying sustainable electricity supplies will stimulate the business outlook.

Digital substation market research report includes in-depth coverage of the industry with estimates & forecast in terms of units and USD from 2018 to 2028 for the following segments:

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Market, By Component

  • Substation automation system
  • Communication network
  • Electrical system
    • Transformer
    • Busbar
    • Protection devices
      • Circuit breaker
      • Protective relay
      • Switchgear
  • Monitoring & control system
    • Human machine interface
    • Programmable logic controller
    • Others
  • Others

Market, By Architecture

  • Process
  • Bay
  • Station

Market, By Application

  • Transmission
  • Distribution

Market, By Connectivity

  • < 33 kV
  • 33 kV to 110 kV
  • 110 kV to 220 kV
  • 220 kV to 550 kV
  • > 550 kV

Market, By Voltage Level

  • Low
  • Medium
  • High

Market, By End-use

  • Utility
  • Industrial

Market, By Installation

  • New
  • Refurbished

The above information has been provided for the following regions and country:

  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • UK
    • Austria
    • Netherlands
    • Sweden
    • Russia
    • Belgium
    • Denmark
    • Switzerland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Philippines
    • New Zealand
    • Malaysia
    • Thailand
    • Singapore
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Turkey
    • South Africa
  • Latin America
    • Brazil
    • Chile


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

Market size of digital substation surpassed USD 6.5 billion in 2021 and is expected to expand at a CAGR of 7.3% from 2021 to 2028 driven by an increase in R&D expenditure by major industry participants.

Low-voltage segment is anticipated to reach USD 2 billion through 2028 owing to an extensive range of applications across the power & infrastructure sector and process industries.

North America market size is projected to cross USD 2.5 billion up to 2028 considering the surging energy demand in the U.S.

Major companies across the industry comprise Eaton, Emerson Electric, Tesco Automation, Rockwell Automation, SIFANG, General Electric, ABB, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 19
  • Tables & Figures: 1121
  • Countries covered: 34
  • Pages: 580
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