Substation Automation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Substation Automation Market Growth & Companies. The Market is segmented by Type (Transmission and Distribution), Module (IED, RTU, BCU, SCADA), Communication (Wired and Wireless), Stage (Retrofit and New), End User (Utility and Industry), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Substation Automation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Substation Automation Industry Overview

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.

Substation Automation Market Leaders

  1. ABB Limited

  2. Siemens AG

  3. Schneider Electric SE

  4. General Electric Co

  5. Cisco Systems Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Substation Automation Market Concentration