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Rising Energy Demand Propels Growth In Electric Power Substation Automation Market Driver: Leading Transformation in the Electric Power Substation Automation Market in 2025
Electric Power Substation Automation Market
The electric power substation automation market will grow from $23.87 billion in 2024 to $25.57 billion in 2025, at a CAGR of 7.1%. This growth is driven by the demand for energy efficiency, rising electricity demand, focus on grid resilience, enhanced grid security, and the integration of renewable energy sources.
The electric power substation automation market is expected to reach $31.96 billion by 2029 at a CAGR of 5.7%, driven by smart grid initiatives, digitalization, and electrification. Trends include AI and machine learning adoption, IoT-enabled devices, and cloud-based solutions.
What Is Driving the Growth Trajectory of the Electric Power Substation Automation Market?
The increasing energy demand is driving the growth of the electric power substation automation market. As global energy demand rises due to population growth, urbanization, and industrialization, substation automation systems help optimize the distribution of electricity and improve grid reliability. The Energy Institute's June 2023 report indicated a 2.3% increase in global electricity generation in 2022, with significant growth in energy consumption in non-OECD countries. This growing demand for energy is a key factor in the expansion of the electric power substation automation market.
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Which Leading Companies Are Shaping the Growth of the Electric Power Substation Automation Market?
Major companies operating in the electric power substation automation market are Hitachi Ltd., Siemens AG, General Electric Company, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Toshiba Corporation, Larsen & Toubro Limited, Eaton Corporation plc, Trilliant Inc., Alstom SA, Rockwell Automation Inc., Yokogawa Electric Corporation, Belden Inc., WAGO Kontakttechnik GmbH & Co. KG, Itron Inc., Landis+Gyr, Schweitzer Engineering Laboratories Inc., Ingeteam S.A., TenneT Company, S&C Electric Company, Giza Systems, Axiomtek Co. Ltd., Efacec Engenharia e Sistemas S.A., Mitsubishi Electric Corporation, NovaTech LLC, Amperion Inc., Encore Networks Inc., Beckwith Electric Co. Inc., IEC Infrared Systems
What Are the Key Segments of the Electric Power Substation Automation Market?
The electric power substation automation market covered in this report is segmented -
1) By Offering: Software, Hardware, Services
2) By Module: Intelligent Electronic Devices (IEDs), Supervisory Control And Data Acquisition (SCADA), Communication Network, Other Modules
3) By Automation Stage: Retrofit, New Installation
4) By Application: Transmission Substation, Distribution Substation
5) By End-Use: Utilities, Industry
Subsegments:
1) By Software: SCADA (Supervisory Control And Data Acquisition), HMI (Human-Machine Interface) Software, Communication Protocols, Asset Management Software, Monitoring And Control Software
2) By Hardware: Programmable Logic Controllers (PLCs), Remote Terminal Units (RTUs), Sensors And Actuators, Intelligent Electronic Devices (IEDs), Circuit Breakers And Switchgear
3) By Services: Installation And Commissioning Services, Maintenance And Support Services, Consulting And Integration Services
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Which Region Dominates the Electric Power Substation Automation Market?
North America was the largest region in the electric power substation automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric power substation automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Electric Power Substation Automation Global Market Report?
- Market Size Analysis: Analyze the Electric Power Substation Automation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Power Substation Automation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Power Substation Automation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Power Substation Automation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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