PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1536035
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1536035
Substation Market Size - By Technology, By Component, By Application, By Connectivity, By Voltage Level, By End-Use, By Category & Forecast, 2024 - 2032
Global Substation Market is estimated to display over 3.1% CAGR from 2024 to 2032, driven by the increasing demand for reliable and efficient electrical power distribution. As urbanization and industrial activities proliferate, there is an escalating need to upgrade and expand existing substation infrastructure to accommodate higher power loads and ensure stable energy supply. For instance, in July 2024, Atlantic Shores Offshore Wind, a joint venture between Shell and EDF, announced the appointment of Riggs Distler & Company as the lead contractor for the Cardiff substation expansion program for Atlantic Shores Project 1, New Jersey's inaugural offshore wind initiative.
Additionally, advancements in smart grid technologies and the integration of renewable energy sources are propelling substation market growth. The increased government investments in infrastructure development and energy transition will further shape the industry trajectory.
The overall substation industry is grouped based on technology, component, application, connectivity, voltage level, end-use, category, and region.
The conventional segment will witness a remarkable CAGR through 2032, owing to the need for reliable and cost-effective solutions to manage existing infrastructure. Conventional technologies, such as air-insulated switch gear (AIS) and traditional transformer systems, offer proven performance and lower initial capital expenditure compared to newer technologies. As many regions continue to upgrade and maintain their aging substation networks, these traditional solutions remain attractive for their robustness, ease of integration, and familiarity among operators.
The communication network segment is poised to grow at a notable pace through 2032. Advanced communication technologies, such as fiber optic networks and wireless systems, are critical for integrating smart grid solutions and enhancing substation automation. These components facilitate seamless communication between various substation elements, improving operational efficiency, reliability, and responsiveness. As utilities adopt digital and smart grid technologies to manage growing power demands and integrate renewable energy sources, the demand for robust communication networks will grow.
North America substation market size will expand significantly through 2032, catapulted by the modernization of aging infrastructure and the demand for reliable power distribution amid population growth and urbanization. Significant investments in smart grid technologies and renewable energy integration thrust market expansion, as utilities seek to enhance grid management and efficiency. Additionally, government initiatives and funding for infrastructure upgrades are facilitating the development of adaptive power systems across North America, bolstering the market growth.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive landscape, 2023
- 4.1 Strategic dashboard
- 4.2 Innovation & sustainability landscape
Chapter 5 Market Size and Forecast, By Technology, 2021 - 2032 (Units, USD Million)
- 5.1 Key trends
- 5.2 Conventional
- 5.3 Digital
Chapter 6 Market Size and Forecast, By Component, 2021 - 2032 (USD Million)
- 6.1 Key trends
- 6.2 Substation automation system
- 6.3 Communication network
- 6.4 Electrical system
- 6.5 Monitoring & control system
- 6.6 Others
Chapter 7 Market Size and Forecast, By Application, 2021 - 2032 (Units, USD Million)
- 7.1 Key trends
- 7.2 Transmission
- 7.3 Distribution
Chapter 8 Market Size and Forecast, By Connectivity, 2021 - 2032 (Units, USD Million)
- 8.1 Key trends
- 8.2 <= 33 kV
- 8.3 > 33 kV to <= 110 kV
- 8.4 > 110 kV to <= 220 kV
- 8.5 > 220 kV to <= 550 kV
- 8.6 > 550 kV
Chapter 9 Market Size and Forecast, By Voltage Level, 2021 - 2032 (Units, USD Million)
- 9.1 Key trends
- 9.2 Low
- 9.3 Medium
- 9.4 High
Chapter 10 Market Size and Forecast, By End Use, 2021 - 2032 (Units, USD Million)
- 10.1 Key trends
- 10.2 Utility
- 10.3 Industrial
Chapter 11 Market Size and Forecast, By Category, 2021 - 2032 (Units, USD Million)
- 11.1 Key trends
- 11.2 New
- 11.3 Refurbished
Chapter 12 Market Size and Forecast, By Region, 2021 - 2032 (Units, USD Million)
- 12.1 Key trends
- 12.2 North America
- 12.2.1 U.S.
- 12.2.2 Canada
- 12.2.3 Mexico
- 12.3 Europe
- 12.3.1 Germany
- 12.3.2 France
- 12.3.3 Italy
- 12.3.4 UK
- 12.3.5 Russia
- 12.4 Asia Pacific
- 12.4.1 China
- 12.4.2 India
- 12.4.3 Japan
- 12.4.4 South Korea
- 12.4.5 Australia
- 12.5 Middle East & Africa
- 12.5.1 Saudi Arabia
- 12.5.2 UAE
- 12.5.3 Qatar
- 12.5.4 Oman
- 12.5.5 South Africa
- 12.6 Latin America
- 12.6.1 Brazil
- 12.6.2 Chile
Chapter 13 Company Profiles
- 13.1 Hitachi Energy Ltd.
- 13.2 Locamation
- 13.3 Efacec
- 13.4 Netcontrol Group
- 13.5 Tesco Automation Inc.
- 13.6 Texas Instruments Incorporated
- 13.7 Belden Inc.
- 13.8 NR Electric Co., Ltd.
- 13.9 Siemens
- 13.10 General Electric
- 13.11 Eaton
- 13.12 Schneider Electric
- 13.13 ABB
- 13.14 Cisco Systems, Inc.
- 13.15 Rockwell Automation, Inc.
- 13.16 L&T Electrical and Automation
- 13.17 Open System International, Inc.
- 13.18 SIFANG
- 13.19 CG Power & Industrial Solutions Ltd.
