Substation Automation Market Share

North American Market Forecast

The North American substation automation market is expected to dominate the market by registering the highest CAGR in the predicted period. This can be assumed owing to the rising adoption of advanced electronic devices. Moreover, escalating adoption of smart grids in the region is also estimated to boost market growth. For instance, over 90 million smart meters were installed throughout the U.S. in 2019.

APAC Market Statistics

The Asia Pacific market for substations automation is estimated to account for lucrative market value between 2023 – 2037. The expansion of the regional market can be attributed to changing energy infrastructure, which is supported by rising industrialization in developing countries. The growing demand for smart grids and smart electric meters to optimize energy utilization, along with the initiatives to promote the use of renewable is projected to promote market growth in the region.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of substation automation is assessed at USD 33.63 billion.

The substation automation market size was over USD 31.94 billion in 2024 and is likely to reach USD 73.1 billion by the end of 2037, growing at around 6.7% CAGR during the forecast period i.e., between 2025-2037. The increasing investment in smart grids will boost the market growth.

North America is expected to dominate the industry share by 2037, owing to rising adoption of advanced electronic devices in the region.

The major players in the market include ABB Ltd., SAE IT-Systems GmbH & Co. KG, AMETEK, Inc., Axiomtek Co. Ltd., Toshiba Corporation, Texas Instruments Incorporated, Larsen & Toubro Ltd., Cisco Systems, Inc., Eaton Corporation PLC, General Electric Company.

Substation Automation Market Share