Home > Energy & Power > Electrical Equipment > Substation > Substation Market

Substation Market Share

Report ID: GMI4485
Published Date: May 2023
Report Format: PDF

Download Free Sample

Substation Market Share

Prominent participants operating across the global substation market are:

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

For the market expansion, these companies focus on strategic alliances, new product launches, and commercialization. Additionally, these firms are heavily investing on research, which enables them to launch innovative products and generate maximum profit from the market.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of substation was worth around USD 114.0 billion in 2022 and is predicted to be valued at USD 164.3 billion by 2032, driven by the expanding renewable power infrastructure and accelerating electrification of off-grid networks.

The substation industry share from the digital segment is expected to grow at over 6% CAGR through 2032, attributed to continuous reforms in government regulatory policies and rising demand for safe and dependable electronic infrastructure.

The substation automation system segment size is poised to grow substantially during 2023-2032, given the increasing focus on developing cutting—edge technologies and flourishing automation trends across the industrial sector.

Notable players in the industry include Hitachi Energy Ltd., Efacec, Tesco Automation Inc., Locamation, Texas Instruments Incorporated, Netcontrol Group, Belden Inc., NR Electric Co., Ltd., Siemens, General Electric, Eaton, Schneider Electric, ABB.