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North America Utility Scale Digital Substation Market Trends

  • Report ID: GMI11402
  • Published Date: Sep 2024
  • Report Format: PDF

North America Utility Scale Digital Substation Market Trends

The North American utility-scale digital substation industry is witnessing several key trends. There is a growing emphasis on integrating advanced digital technologies to enhance grid reliability and efficiency, driven by the increasing adoption of renewable energy sources and the need for smart grid solutions. The market is seeing rising investments in digital substations that offer real-time monitoring, improved data analytics, and automation capabilities.
 

Additionally, there is a push towards modernizing existing infrastructure to accommodate new energy demands and improve overall operational performance. Government policies and funding aimed at upgrading electrical grids and supporting clean energy transitions are further accelerating market growth. Technological advancements in digital substation components are also enhancing system reliability and performance.
 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America utility scale digital substation was worth over USD 900 million in 2023 and will exhibit a 6% CAGR from 2024 to 2032, driven by the increasing demand for advanced grid infrastructure to support renewable energy integration and enhance grid reliability.

New digital substations will experience over7% CAGR through 2032, driven by the increasing demand for advanced grid infrastructure to support renewable energy integration and smart grid technologies.

The U.S. utility-scale digital substation industr is projected to surpass USD 1.3 billion by 2032, fueled by the surging demand for sophisticated grid infrastructure.

GE Grid Solutions, LLC, Hitachi Energy Ltd., iGrid T&D, Rockwell Automation, Inc., Siemens, and SIFANG, among others.

North America Utility Scale Digital Substation Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 10
  • Countries covered: 3
  • Pages: 60
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