Global Substation Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2020 – 2030

The global substation market was valued at US$ 96.1 Billion in 2020 and is expected to reach US$ 132.7 Billion by 2030, growing at a CAGR of 3.1% from 2021 – 2030.

The substation is a crucial part of the generation, transmission, and distribution system and is mainly used for lowering the high voltage to low from the transmission system. Commercial customers, large industries, and electrical utilities own and operate substations. Substations transform the voltage from high to low and vice versa with the help of transformers. Substations run on SCADA (Supervisory control and data acquisition) and are generally unattended. Substations are mainly designed for lowering the high voltage from the transmission system to low voltage for smooth supply to the public & corporate sectors. Substations play a vital role in the power industry and it supports circuits, generators, and equipment. They also help in the smooth flow of electricity to residencies and the commercial sector.

Global Substation Market

Market Dynamics

Hike in energy demand, high adoption of renewable power infrastructure, stringent government regulations, expansion of smart grid networks, the demand for uninterrupted electricity globally, technological advancements, requirements of enhanced efficient energy, and capacity expansion are the major reasons driving the global substation market. Advancements in technology such as IP, wireless, and cloud in the infrastructure are proving helpful in the operation process hence boosting the market growth. The development of smart cities globally coupled with smart grid infrastructure development is highly augmenting the growth of the global substation market. Furthermore, increased investments by government and commercial companies are providing lucrative opportunities to the market. Also, various market players are adopting strategies such as collaborations, partnerships, and product developments to provide better customer satisfaction.

Market Segmentation

The global substation market is fragmented on the basis of Components, Module, by Type, Installation Type, Voltage, Industry, and region. The Components segment is further classified into Smart meter, Load tap controller, Capacitor bank controller, Recloser controller, and others. By Module, the report offers Hardware, Fiber-optic Communication Networks, and SCADA Systems. By Type, the global market is divided into Transmission Substation, and Distribution Substation. Based on Installation Type, the market is segmented into New Installations, Retrofit Installations. By Voltage, the global substation market is bifurcated into Up to 220kV, 220-500kV, and above 500kV. On the basis of Industry, the scope of the report offers Utility, Heavy Industries, Transportation, and others.

Geography Analysis

Based on Region, the global substation market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is further classified into the U.S., Canada, and Mexico. Europe is further segmented into Germany, the U.K., France, Italy, Spain, Russia, and the rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, South Korea, and the rest of APAC. The RoW includes South & Central America, the Middle East, and Africa. APAC is anticipated to be the fastest-growing market for the global substation market owing to large energy consumption, increased urbanization, and the presence of key players in the region especially in growing countries such as China & India.

The prominent players of the global substation market are ABB, Siemens AG, Eaton Corporation Inc., General Electric Company, Honeywell International Inc., Cisco System, NR Electric, Emerson Electric Co., Schneider Electric SE, and Larsen & Toubro Limited, among others.

Global Substation Market

Market Segmentation and Scope of the Global Substation Market

By Components

  • Smart meter
  • Load tap controller
  • Capacitor bank controller
  • Recloser controller
  • Others

By Module

  • Hardware
  • Fiber-optic Communication Networks
  • SCADA Systems

By Type

  • Transmission Substation
  • Distribution Substation

By Installation Type

  • New Installations
  • Retrofit Installations

By Voltage

  • Up to 220kV
  • 220-500kV
  • Above 500kV

By Industry

  • Utility
  • Heavy Industries
  • Transportation
  • Others

By Region

 North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Rest of the World

  • South & Central America
  • Middle East
  • Africa

Global Substation Market

Prominent Players of the Global Substation Market

  • ABB
  • Siemens AG
  • Eaton Corporation Inc.
  • General Electric Company
  • Honeywell International Inc.
  • Cisco System
  • NR Electric
  • Emerson Electric Co.
  • Schneider Electric SE
  • Larsen & Toubro Limited
  • Others
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