Expansion And Modernization of Grid Infrastructure are Projected to Drive Growth in Power Substation Market

Global power substation market is anticipated to grow at a CAGR of 4.1% during the forecast period (2025-2035). The key trends driving the market growth for the power substation market include grid expansion and modernization. Presently, the global dynamics for power and energy supply are moving in an upward trajectory supported by factors such as expansion in urban population, growing industrial footprint, and extension of energy supplies in remote areas. The growing demands for energy supply support the expansion of the grid infrastructure and the installation of advanced technologies within substation structures, including smart grids, digital systems, automation tools, and others. Moreover, the global policy of energy transition is promoting progress in power substations to meet the renewable energy power supply ecosystems. In conclusion, the global trend of modernizing and expanding grid networks is expected to create ample opportunities and growth prospects for the power substation market players.

Browse the full report description of “Power Substation Market Size, Share & Trends Analysis Report by Offerings (Hardware, and Software & Services), by Voltage (High Voltage, Medium Voltage, and Low Voltage), by Application (Transmission, and Distribution), and by End-User (Residential, Commercial, Industrial, and Others) Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/power-substation-market

Global Grid Expansion and Modernization Scenario

• Global electricity demand needs to continue growing at 20% faster in the next decade to achieve national energy and climate goals across geographies.

• By 2040, there will be 80 million kilometers of new grids or refurbished grid, which is equal in size to the international grid network in the current state.

• Wind and solar PV will make up more than 80% of the growth in world power capacity over the next two decades.

• Global gird investments are lagging to complement renewable energy investment at $300 billion annually invested in grid infrastructure. In contrast, renewable energy investment rose, by nearly doubling since 2010, such that the grid investments should double to more than $600 billion annually by 2030.

• While energy demand grows, the newly developed and developing economies are now relying less on investments made in grids. Advanced economies continue to trail in the efforts that will achieve clean energy goals.

Source: International Energy Agency (IEA)

Recent Development

• In December 2023, Intel partnered with the E4S Alliance for Smart Secondary Substations to transform the energy grid in Europe into an open, software-defined system. The new platform will digitize 17 million secondary substations and make the grid more flexible and efficient. ‘Secure, modular, silicon-enhanced technology’ by Intel will simplify the integration of renewable sources of energy such as solar and wind into the grid, thus increasing the resilience and efficiency of the grid.

Market Coverage

• The market number available for – 2024-2035

• Base year- 2024

• Forecast period- 2025-2035

• Segment Covered- 

o By Offerings

o By Voltage

o By Application

o By End User

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape - ABB Group, GE Vernova Group, Hitachi Energy Co. Ltd., Schneider Electric, Siemens AG, and others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Power Substation Market Report Segment

By Offering

• Hardware
• Software & Services

By Voltage

• High Voltage
• Medium Voltage
• Low Voltage

By Application 

• Transmission
• Distribution

By End-user

• Residential
• Commercial 
• Industrial
• Others

Global Power Substation Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Russia

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Australia and New Zealand

• ASEAN Economies

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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