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Europe Substation Market Trends

  • Report ID: GMI9082
  • Published Date: Apr 2024
  • Report Format: PDF

Europe Substation Market Trends

The Europe substation industry is witnessing several notable trends. There's a growing emphasis on modernization and upgrading of aging infrastructure to enhance reliability and efficiency. This includes the integration of digital technologies like IoT sensors, AI, and predictive analytics for proactive maintenance and grid management. Renewable energy integration is a significant trend, driving the need for flexible and smart substations capable of handling fluctuations in power generation. This involves the adoption of advanced grid solutions such as HVDC transmission and energy storage systems.
 

Additionally, there's a notable shift towards eco-friendly substations with reduced environmental impact, leveraging technologies like gas-insulated switchgear (GIS) and environmentally friendly insulating materials. There is an increasing focus on grid resilience and cybersecurity measures to mitigate risks posed by cyber threats and ensure uninterrupted power supply.
 

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of Europe substation was crossed USD 11.9 billion in 2023 and is anticipated to grow at 3.9% CAGR till 2032, due to increasing demand for electricity, driven by population growth, urbanization, and industrialization.

The conventional segment in the Europe substation industry is anticipated to exceed USD 14.5 billion by 2032 due to the regulatory frameworks and infrastructure limitations.

Germany substation market is projected to surpass USD 2.5 billion by 2032 since it boasts of a robust industrial sector, demanding reliable electricity infrastructure.

ABB, Belden Inc., Eato Schneider Electric, Efacec Tesco Automation Inc., General Electric, Hitachi Energy Ltd, Locamation Netcontrol Group, NR Electric Co. Ltd., Siemens and Texas Instruments Inc.

Europe Substation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 920
  • Countries covered: 5
  • Pages: 375
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