Digital Substation Market Segmentation:
Type (Distribution Substation, Transmission Substation)
Distribution substation segment is expected to account for market share of more than 79.7% by the end of 2035. This is attributable to the efficient delivery of power from the transmission networks to consumers. For instance, in October 2023, Adani Transmission Limited (ATL) declared that it was constructing a transmission line and substation from Kharghar to Vikhroli. This distribution network aimed at adding 1500 MVA 400kV GIS Substation and 74 Ckm of 400kV and 220kV transmission lines. Thus, growing requirements for a reliable supply of electricity in cities necessitate mature power grids towards the spur of economic, as well as industrial development and new influxes of populations.
Industry (Utility, Metal, Mining, Oil & Gas, Transportation)
The utility segment is projected to garner significant growth traction in the digital substation market during the forecasted timeline Within the market, the utility substation segment is leading in terms of revenue owing to its necessity in the transmission and distribution of electricity through an electrical grid. For instance, in January 2023, ABB introduced its ground-breaking virtualized protection and control solution, Smart Substation Control and Protection SSC600 software. Utility customers can easily use a full suite of dependable protection and control features while personalizing their hardware selections. Power distribution system reliability is improved and grid management techniques are revolutionized by this innovation. Thus, utilities have deployed digital utility substations that reduce operational costs, minimize maintenance, and optimize outage response times.
Our in-depth analysis of the global market includes the following segments:
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