How big is the Substation Automation Market?

The Substation Automation Market size is expected to reach USD 34.39 billion in 2024 and grow at a CAGR of 6.5% to reach USD 47.13 billion by 2029. Read More

What is the current Substation Automation Market size?

In 2024, the Substation Automation Market size is expected to reach USD 34.39 billion. Read More

Who are the key players in Substation Automation Market?

ABB Limited, Siemens AG, Schneider Electric SE, General Electric Co and Cisco Systems Inc. are the major companies operating in the Substation Automation Market. Read More

Which is the fastest growing region in Substation Automation Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Substation Automation Market?

In 2024, the North America accounts for the largest market share in Substation Automation Market. Read More

What years does this Substation Automation Market cover, and what was the market size in 2023?

In 2023, the Substation Automation Market size was estimated at USD 32.29 billion. The report covers the Substation Automation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Substation Automation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Substation Automation Market Share

Statistics for the 2023 & 2024 Substation Automation market share, created by Mordor Intelligence™ Industry Reports. Substation Automation share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Substation Automation Industry

The global substation automation market appears to be highly competitive. Market leaders are investing in research and development to innovate their products continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and a cost-effective product portfolio. Some of the key developments in the market are:

November 2022 - Hitachi Energy signed an agreement with Equinor to collaborate within electrification, renewable power generation, and low-carbon initiatives. The agreement depicts the commitment of both companies to accelerate the energy transition and advance a more sustainable, flexible, and secure energy system.
April 2022 - ABB India announced the inauguration of its expanded digital substation products and digital systems factory in Vadodara, Gujarat. The new factory will meet the demand for a range of digital substation products and solutions in India and more than 50 countries.