Electric power substation automation involves the use of digital monitoring, control, and communication technologies to manage and optimize the operation of electrical substations. It integrates sensors, intelligent electronic devices (IEDs), SCADA systems, and communication networks to enable real-time data acquisition, remote control, and fault detection. The primary purpose of substation automation is to enhance the reliability, efficiency, and safety of power distribution. It reduces downtime, enables faster fault isolation and restoration, improves energy management, and supports smart grid operations.
The global electric power substation automation market reached a value of nearly $23,872.46 million in 2024, having grown at a compound annual growth rate (CAGR) of 5.33% since 2019. The market is expected to grow from $23,872.46 million in 2024 to $33,676.11 million in 2029 at a rate of 7.12%. The market is then expected to grow at a CAGR of 6.90% from 2029 and reach $47,021.04 million in 2034.
Rising Government Funding For Decarbonization
The rising government funding for decarbonization supported the growth of the electric power substation automation market in the historic period. Government funding for decarbonization is driving the growth of electric power substation automation by supporting utilities in upgrading grid infrastructure with advanced technologies that boost efficiency, reliability and renewable energy integration. Such investments speed up the shift toward low-carbon energy systems by improving grid flexibility, enabling distributed energy resources and cutting carbon emissions. Consequently, policy-driven financial backing and sustainability objectives are fueling stronger demand for substation automation solutions. For instance, according to the Department for Energy Security & Net Zero, a UK-based government department responsible for energy policy, climate change and driving the transition to net zero, reported that between 2021 and 2022, an estimated $62.5 billion (£50 billion) was invested in the UK's low-carbon sectors, underscoring strong capital flows toward sustainable energy and green infrastructure development. Therefore, the rising government funding for decarbonization drove the growth of the electric power substation automation market.
Electric power substation automation is utilized across a wide range of segments, including utility companies, industrial plants, and power distribution companies, where the need for efficient grid management and system optimization is critical. The primary applications of electric power substation automation include voltage regulation, load management, fault detection and isolation, equipment health monitoring, and enhancing security measures within substations. Complementary technologies, such as smart grids, advanced metering infrastructure (AMI), and energy management systems (EMS), also contribute to the broader ecosystem of electric power automation.
The global electric power substation automation market is fragmented, with large number of small players operating in the market. The top 10 competitors in the market made up 12.31% of the total market in 2024.
Electric Power Substation Automation Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global electric power substation automation market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for electric power substation automation? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The electric power substation automation market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider electric power substation automation market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by offering, by module, by automation stage, by application and by end use.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional And Country Analysis Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by service, by age and by disorder in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for electric power substation automation providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Offering: Software; Hardware; Services
- 2) By Module: Intelligent Electronic Devices (IEDs); Supervisory Control And Data Acquisition (SCADA); Communication Network; Other Modules
- 3) By Automation Stage: Retrofit; New Installations
- 4) By Application: Transmission Substation; Distribution Substation
- 5) By End Use: Utilities; Industry
- Companies Mentioned: ABB Ltd.; Schneider Electric SE; Siemens AG; GE Vernova; Hitachi Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; electric power substation automation indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.