Digital Substation Market Growth Drivers In 2022 & Challenges By 2028

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Digital Substation Market Analysis, Research and
Trends Report 2022-2028
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Industry Overview

• Digital substation market size will expand at a
  significant pace over 2022-2028 with increasing
  deployment of transmission and distribution
  systems globally. Electrical systems,
  communication networks, monitoring and control
  systems are among the major components of these
  substations. Growing infrastructure spending in
  regions like Asia Pacific and MEA will augment
  the manufacturing of transformers and other
  substation components over the coming years.
  Robust industrial sector in these regions will
  also fuel the market forecast.
• Global digital substation industry share from
  substation automation system (SAS) component will
  witness more than 9 CAGR through 2028. These
  systems offer improved protection, control, and a
  safe operating environment. SAS are required for
  effective modernization of power grids, by
  providing seamless communication, automation and
  interoperability between devices in the
  substation. Increased expenditure on upgrading
  electricity infrastructure in countries such as
  the U.S. will drive SAS deployment over the
  coming years.
• In terms of architecture, digital substation
  market is divided into process, bay and station
  segments. The industry share from process
  architecture segment is projected to surpass USD
  2 billion by 2028.

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• With regards to connectivity, the lt33 kV segment
  is anticipated to hold around 18 of digital
  substation industry share by 2028. Further,
  increasing number of small-scale commercial
  buildings and expanding real estate sector
  worldwide will augment the deployment of
  substations with connectivity between 33 kV to
  110 kV. Continuous development of the industrial
  sector and establishment of manufacturing units
  in emerging economies like India will reinforce
  the demand for 220 kV to 550 kV substations.
• Medium voltage digital substation market size is
  expected to register notable gains over the
  forecast timeframe 2022-2028. Growing expenditure
  on commercial infrastructure development has
  driven the expansion of power grids and
  compatible TD components. High voltage level
  digital substation industry share is projected to
  expand at more than 10 CAGR through 2028.
• While the expenditure on upgradation of existing
  power grids is growing, the development of new
  TD networks and substations is also on the rise.
  A substantial boost in energy consumption
  worldwide has been observed over the past few
  years. Digital substation market share from new
  installations will showcase a significant growth
  rate. The need for supplying power to remote
  areas is among the key factors fueling the market
  trends.

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Digital Substation Market

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