The Substation Market size was valued at USD 125.15 Billion in 2023 and is expected to grow at a CAGR of 4.3 percent from 2024 to 2030 to reach USD 168.59 Billion.Substation Market Overview
The substation is an electrical system with high voltage capacity, which is used to control apparatus, generators, electrical circuits, etc. They play an important role in ensuring efficient power flow, transforming voltage levels, and maintaining grid stability. The global market is growing due to factors such as increasing demand for energy, grid modernization initiatives, and the integration of renewable sources into the power grid. The Substation market report includes a detailed analysis of market size, market share, and CAGR with a region-wise and segment-wise analysis of market dynamics including drivers, restraints, opportunities, and challenges.To know about the Research Methodology :- Request Free Sample Report
Substation Market Dynamics
Technological Advancements in the Substation Market Continuous technological improvements are being made to streamline and modernize the electrical grid from generating facilities to interconnecting substations. A solid-state power substation (SSPS) is defined as a substation or grid node with the strategic integration of high-voltage power electronic converters that provide system benefits and support the evolution of the grid. SSPS converters are envisioned as a system consisting of flexible, modular, scalable and adaptable power blocks that can be used within all the applications of substation. Smart Grid initiatives aim to modernize and optimize the power grid’s operation, enhance reliability and enable two-way communication between utilities and consumers. These initiatives leverage advanced technologies and digital solutions to improve the efficiency, sustainability, and resilience of the whole electrical infrastructure, with substations playing an important role in this transformation. Along with the increasing penetration of renewable energy sources such as solar and wind power, smart substations enable seamless integration of distributed energy resources into the grid. To predict equipment failures in substations, the smart grid initiatives leverage data analytics and machine learning algorithms. They also emphasize cybersecurity measures to protect against cyber threats and ensure the integrity of grid operations. These technological advancements are expected to boost the Substations market growth during the forecast period. Environmental Impacts of Substations For the substation foundation, extensive land clearing and excavation activities are required that create permanent changes to the land cover of the site. Prior to construction, if non-suitable soils are encountered, they are excavated and replaced. Machinery noise, fugitive dust and disruptions in the local electric services are the impacts associated with the construction of a substation. Sometimes soil erosion and stormwater runoff are also occurred during construction when existing vegetation is removed during foundation excavation, exposing bare ground. Land use changes and habitat loss, changes to local aesthetics and viewsheds, lighting and noise are the major long-lasting impacts of the construction and operation of the new substations. The ground-disturbing activities also result in the loss of or damage to archaeological artifacts or unmarked burial sites. The views or site lines to or from important historical sites can also be affected by the physical presence of new substations. In rural areas, light pollution may present a nuisance in the residential areas or diminish enjoyment in the nighttime sky. A constant humming and buzzing noise is audible to several hundred feet from the substation fence. The noise produced can be loud to adjacent property owners. All these impacts of substations are the major challenges for the substation market growth.Substation Market Regional Insights
The Substation market in North America is expected to grow rapidly during the forecast period. The Substation market in the United States is the largest market in the region. The expansion of SSPS technology development within the US is expected to bolster domestic energy security as well as strength OE’s defense critical energy infrastructure program. There has been a significant increase in renewable energy installations, including solar, wind and other renewable sources. Substations play an important role in integrating these intermittent energy sources into the grid, which has led to a demand for more efficient and flexible substation solutions. The regulatory policies and initiatives are influencing the growth and development of the regional market. The incentives and mandates related to clean energy and grid modernization are expected to drive the investment in substation infrastructure.Current Projects in North America
The Asia Pacific Substation market is expected to grow at a high rate during the forecast period. Many countries in the region are experiencing rapid development of infrastructure, leading to increasing energy consumption. The existing substations are being upgraded and the new ones are being constructed to meet the increasing demand for energy. Substations are the backbone of Australia’s energy grid, connecting electricity generators to essential projects and essential projects. Electricity is transferred through Australia’s transmission network at voltages as high as 275 kilovolts (kV). This is significantly higher than the voltage at which electricity needs to be transferred through Australia’s distribution network. As per the study, in 2020, switchyards, substations and transformers represented 44 percent of Australia’s transmission network infrastructure. There are a number of new or upgraded substation projects are underway in Australia, powering current services, future developments and even national defense facilities. SA Power Networks is one of the notable projects whose recent construction of 66kV to 11kV substation is expected to support the land-based test facility for the Australian Navy’s new Hunter Class submarine frigates. In April 2023, Uzbekistan’s Ministry of Energy and China Electric Power Equipment and Technology Company Limited (CET), a major state-owned Chinese company have signed an agreement for the construction of high voltage (HV) transmission lines and substations in Uzbekistan.
Project Name Location Details Cottage Park Substation Norfolk, Canada • Substation Technology Project • Serves over 4000 customers • Project announcement sent to neighbors in January 2023 • Construction announcement sent to neighbors in June 2023 • Anticipated construction from fall 2023 through spring 2024 Fairfax Substation City of Fairfax, Virginia, US • Substation Technology Project • Serves over 4000 customers • Project announcement sent to neighbors in April 2023 • Anticipated construction from fall 2023 through spring 2025 Vienna Substation Fairfax County and the town of Vienna, Virginia, US • Substation technology project • Serves over 2,500 customers • Project announcement sent to neighbors in April 2023 • Anticipated construction from fall 2023 through summer 2025 Westcott Substation Fairfax County, Virginia, US • Substation technology project • Serves over 3,000 customers • Project announcement sent to neighbors in February 2023 • Anticipated construction from fall 2023 through summer 2025 Substation Market Segment Analysis
Based on Application: The market is divided into Transmission and Distribution. The distribution segment is expected to hold the largest Substation Market share by 2030. This segment is responsible for distributing electricity from the transmission grid to end consumers, such as residential, commercial, and industrial users. The growing population and rapid industrialization with increasing demand for electricity is majorly driving the growth of the global market. The transmission segment is expected to grow during the forecast period. This is attributed to the increasing demand for efficient transmission networks in various countries due to the increasing power consumption from end-users is driving the growth the segment.Based on End-User: The market is divided into utility and industrial. The utility segment dominated the global substation market in 2023. This is attributed to the high demand with increasing uninterrupted power supply and increasing installation of efficient power grids. The industrial segment is expected to grow during the forecast period. This is attributed to the increasing demand for uninterrupted electricity supply in the industrial sector due to rapid industrialization across developing nations. Substation Market Competitive Landscape The report provides a detailed analysis of Substation manufacturers in the industry with their revenue, investments, product portfolio, mergers, acquisitions and joint ventures. It provides an in-depth analysis of the efforts that are taken by the key Substation competitors to increase their presence in the market. Hitachi Energy's Smart Digital Substation technology helps to increase system reliability, reduce costs and is applicable to new and retrofit installations of air and gas-insulated switchgear substations. Recently GE introduced two new advancements in its Substation Automation solutions portfolio: PowerLink Connect and Multilin D20MX v1.5. PowerLink Connect is GE’s newest full-featured, web-enabled, local HMI system for Substation and Control Room Operations while the Multilin D20MX v1.5 extends substation connectivity with the ability to amalgamate data from substation devices via industry-standard communications channels to execute local logic. On July 2023, Toshiba introduced its development of a 72/84 kV GIS that uses natural-origin gas. This Gas Insulated Switchgear (GIS) does not contribute to global warming. GIS basically acts as a switch to turn electricity flows on and off, which is installed in power transmission substations in the electricity transmission and distribution network, the power grid.
Substation Market Scope: Inquire Before Buying
Global Substation Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 125.15 Bn. Forecast Period 2024 to 2030 CAGR: 4.3% Market Size in 2030: US $ 168.59 Bn. Segments Covered: by Voltage Level Low Medium High by Application Transmission Distribution by End User Utility Industrial Substation Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Substation Key Players
1. Siemens (Germany) 2. Hitachi Energy (Switzerland) 3. Schneider Electric (France) 4. Eaton (Ireland) 5. Efacec (Portugal) 6. Rockwell Automation (US) 7. Emerson (US) 8. Belden (US) 9. L&T Electrical & Automation (India) 10. Texas Instruments Incorporated (US) 11. General Electric (GE) Company (US) 12. Toshiba Corporation (Japan) 13. Mitsubishi Electric Corporation (Japan) Frequently Asked Questions 1] What was the Substation Market size in 2023? Ans. USD 125.15 Bn was the Substation Market size in 2023. 2] What is the expected Substation Market size by 2030? Ans. USD 168.59 Bn is the expected Substation Market size by 2030. 3] What is the expected CAGR of the Global Substation Market during the forecast period? Ans. During the forecast period, the Global Substation Market is expected to grow at a CAGR of 4.3 percent. 4] What are the major Substation Market segments? Ans. The market is divided by Technology, Component, Connectivity, Voltage level, Category, Application and End-User. 5] Which regional Substation Market is expected to grow at a high rate during the forecast period? Ans. The Substation Market of Asia Pacific is expected to grow at a high rate during the forecast period.
1. Substation Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Substation Market: Dynamics 2.1. Substation Market Trends by Region 2.1.1. North America Substation Market Trends 2.1.2. Europe Substation Market Trends 2.1.3. Asia Pacific Substation Market Trends 2.1.4. Middle East and Africa Substation Market Trends 2.1.5. South America Substation Market Trends 2.2. Substation Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Substation Market Drivers 2.2.1.2. North America Substation Market Restraints 2.2.1.3. North America Substation Market Opportunities 2.2.1.4. North America Substation Market Challenges 2.2.2. Europe 2.2.2.1. Europe Substation Market Drivers 2.2.2.2. Europe Substation Market Restraints 2.2.2.3. Europe Substation Market Opportunities 2.2.2.4. Europe Substation Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Substation Market Drivers 2.2.3.2. Asia Pacific Substation Market Restraints 2.2.3.3. Asia Pacific Substation Market Opportunities 2.2.3.4. Asia Pacific Substation Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Substation Market Drivers 2.2.4.2. Middle East and Africa Substation Market Restraints 2.2.4.3. Middle East and Africa Substation Market Opportunities 2.2.4.4. Middle East and Africa Substation Market Challenges 2.2.5. South America 2.2.5.1. South America Substation Market Drivers 2.2.5.2. South America Substation Market Restraints 2.2.5.3. South America Substation Market Opportunities 2.2.5.4. South America Substation Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Substation Industry 2.8. Analysis of Government Schemes and Initiatives For Substation Industry 2.9. Substation Market Trade Analysis 2.10. The Global Pandemic Impact on Substation Market 3. Substation Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Substation Market Size and Forecast, by Voltage Level (2023-2030) 3.1.1. Low 3.1.2. Medium 3.1.3. High 3.2. Substation Market Size and Forecast, by Application (2023-2030) 3.2.1. Transmission 3.2.2. Distribution 3.3. Substation Market Size and Forecast, by End User (2023-2030) 3.3.1. Utility 3.3.2. Industrial 3.4. Substation Market Size and Forecast, by Region (2023-2030) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Substation Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Substation Market Size and Forecast, by Voltage Level (2023-2030) 4.1.1. Low 4.1.2. Medium 4.1.3. High 4.2. North America Substation Market Size and Forecast, by Application (2023-2030) 4.2.1. Transmission 4.2.2. Distribution 4.3. North America Substation Market Size and Forecast, by End User (2023-2030) 4.3.1. Utility 4.3.2. Industrial 4.4. North America Substation Market Size and Forecast, by Country (2023-2030) 4.4.1. United States 4.4.1.1. United States Substation Market Size and Forecast, by Voltage Level (2023-2030) 4.4.1.1.1. Low 4.4.1.1.2. Medium 4.4.1.1.3. High 4.4.1.2. United States Substation Market Size and Forecast, by Application (2023-2030) 4.4.1.2.1. Transmission 4.4.1.2.2. Distribution 4.4.1.3. United States Substation Market Size and Forecast, by End User (2023-2030) 4.4.1.3.1. Utility 4.4.1.3.2. Industrial 4.4.2. Canada 4.4.2.1. Canada Substation Market Size and Forecast, by Voltage Level (2023-2030) 4.4.2.1.1. Low 4.4.2.1.2. Medium 4.4.2.1.3. High 4.4.2.2. Canada Substation Market Size and Forecast, by Application (2023-2030) 4.4.2.2.1. Transmission 4.4.2.2.2. Distribution 4.4.2.3. Canada Substation Market Size and Forecast, by End User (2023-2030) 4.4.2.3.1. Utility 4.4.2.3.2. Industrial 4.4.3. Mexico 4.4.3.1. Mexico Substation Market Size and Forecast, by Voltage Level (2023-2030) 4.4.3.1.1. Low 4.4.3.1.2. Medium 4.4.3.1.3. High 4.4.3.2. Mexico Substation Market Size and Forecast, by Application (2023-2030) 4.4.3.2.1. Transmission 4.4.3.2.2. Distribution 4.4.3.3. Mexico Substation Market Size and Forecast, by End User (2023-2030) 4.4.3.3.1. Utility 4.4.3.3.2. Industrial 5. Europe Substation Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.2. Europe Substation Market Size and Forecast, by Application (2023-2030) 5.3. Europe Substation Market Size and Forecast, by End User (2023-2030) 5.4. Europe Substation Market Size and Forecast, by Country (2023-2030) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.1.2. United Kingdom Substation Market Size and Forecast, by Application (2023-2030) 5.4.1.3. United Kingdom Substation Market Size and Forecast, by End User (2023-2030) 5.4.2. France 5.4.2.1. France Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.2.2. France Substation Market Size and Forecast, by Application (2023-2030) 5.4.2.3. France Substation Market Size and Forecast, by End User (2023-2030) 5.4.3. Germany 5.4.3.1. Germany Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.3.2. Germany Substation Market Size and Forecast, by Application (2023-2030) 5.4.3.3. Germany Substation Market Size and Forecast, by End User (2023-2030) 5.4.4. Italy 5.4.4.1. Italy Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.4.2. Italy Substation Market Size and Forecast, by Application (2023-2030) 5.4.4.3. Italy Substation Market Size and Forecast, by End User (2023-2030) 5.4.5. Spain 5.4.5.1. Spain Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.5.2. Spain Substation Market Size and Forecast, by Application (2023-2030) 5.4.5.3. Spain Substation Market Size and Forecast, by End User (2023-2030) 5.4.6. Sweden 5.4.6.1. Sweden Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.6.2. Sweden Substation Market Size and Forecast, by Application (2023-2030) 5.4.6.3. Sweden Substation Market Size and Forecast, by End User (2023-2030) 5.4.7. Austria 5.4.7.1. Austria Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.7.2. Austria Substation Market Size and Forecast, by Application (2023-2030) 5.4.7.3. Austria Substation Market Size and Forecast, by End User (2023-2030) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Substation Market Size and Forecast, by Voltage Level (2023-2030) 5.4.8.2. Rest of Europe Substation Market Size and Forecast, by Application (2023-2030) 5.4.8.3. Rest of Europe Substation Market Size and Forecast, by End User (2023-2030) 6. Asia Pacific Substation Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.2. Asia Pacific Substation Market Size and Forecast, by Application (2023-2030) 6.3. Asia Pacific Substation Market Size and Forecast, by End User (2023-2030) 6.4. Asia Pacific Substation Market Size and Forecast, by Country (2023-2030) 6.4.1. China 6.4.1.1. China Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.1.2. China Substation Market Size and Forecast, by Application (2023-2030) 6.4.1.3. China Substation Market Size and Forecast, by End User (2023-2030) 6.4.2. S Korea 6.4.2.1. S Korea Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.2.2. S Korea Substation Market Size and Forecast, by Application (2023-2030) 6.4.2.3. S Korea Substation Market Size and Forecast, by End User (2023-2030) 6.4.3. Japan 6.4.3.1. Japan Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.3.2. Japan Substation Market Size and Forecast, by Application (2023-2030) 6.4.3.3. Japan Substation Market Size and Forecast, by End User (2023-2030) 6.4.4. India 6.4.4.1. India Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.4.2. India Substation Market Size and Forecast, by Application (2023-2030) 6.4.4.3. India Substation Market Size and Forecast, by End User (2023-2030) 6.4.5. Australia 6.4.5.1. Australia Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.5.2. Australia Substation Market Size and Forecast, by Application (2023-2030) 6.4.5.3. Australia Substation Market Size and Forecast, by End User (2023-2030) 6.4.6. Indonesia 6.4.6.1. Indonesia Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.6.2. Indonesia Substation Market Size and Forecast, by Application (2023-2030) 6.4.6.3. Indonesia Substation Market Size and Forecast, by End User (2023-2030) 6.4.7. Malaysia 6.4.7.1. Malaysia Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.7.2. Malaysia Substation Market Size and Forecast, by Application (2023-2030) 6.4.7.3. Malaysia Substation Market Size and Forecast, by End User (2023-2030) 6.4.8. Vietnam 6.4.8.1. Vietnam Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.8.2. Vietnam Substation Market Size and Forecast, by Application (2023-2030) 6.4.8.3. Vietnam Substation Market Size and Forecast, by End User (2023-2030) 6.4.9. Taiwan 6.4.9.1. Taiwan Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.9.2. Taiwan Substation Market Size and Forecast, by Application (2023-2030) 6.4.9.3. Taiwan Substation Market Size and Forecast, by End User (2023-2030) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Substation Market Size and Forecast, by Voltage Level (2023-2030) 6.4.10.2. Rest of Asia Pacific Substation Market Size and Forecast, by Application (2023-2030) 6.4.10.3. Rest of Asia Pacific Substation Market Size and Forecast, by End User (2023-2030) 7. Middle East and Africa Substation Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Substation Market Size and Forecast, by Voltage Level (2023-2030) 7.2. Middle East and Africa Substation Market Size and Forecast, by Application (2023-2030) 7.3. Middle East and Africa Substation Market Size and Forecast, by End User (2023-2030) 7.4. Middle East and Africa Substation Market Size and Forecast, by Country (2023-2030) 7.4.1. South Africa 7.4.1.1. South Africa Substation Market Size and Forecast, by Voltage Level (2023-2030) 7.4.1.2. South Africa Substation Market Size and Forecast, by Application (2023-2030) 7.4.1.3. South Africa Substation Market Size and Forecast, by End User (2023-2030) 7.4.2. GCC 7.4.2.1. GCC Substation Market Size and Forecast, by Voltage Level (2023-2030) 7.4.2.2. GCC Substation Market Size and Forecast, by Application (2023-2030) 7.4.2.3. GCC Substation Market Size and Forecast, by End User (2023-2030) 7.4.3. Nigeria 7.4.3.1. Nigeria Substation Market Size and Forecast, by Voltage Level (2023-2030) 7.4.3.2. Nigeria Substation Market Size and Forecast, by Application (2023-2030) 7.4.3.3. Nigeria Substation Market Size and Forecast, by End User (2023-2030) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Substation Market Size and Forecast, by Voltage Level (2023-2030) 7.4.4.2. Rest of ME&A Substation Market Size and Forecast, by Application (2023-2030) 7.4.4.3. Rest of ME&A Substation Market Size and Forecast, by End User (2023-2030) 8. South America Substation Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Substation Market Size and Forecast, by Voltage Level (2023-2030) 8.2. South America Substation Market Size and Forecast, by Application (2023-2030) 8.3. South America Substation Market Size and Forecast, by End User(2023-2030) 8.4. South America Substation Market Size and Forecast, by Country (2023-2030) 8.4.1. Brazil 8.4.1.1. Brazil Substation Market Size and Forecast, by Voltage Level (2023-2030) 8.4.1.2. Brazil Substation Market Size and Forecast, by Application (2023-2030) 8.4.1.3. Brazil Substation Market Size and Forecast, by End User (2023-2030) 8.4.2. Argentina 8.4.2.1. Argentina Substation Market Size and Forecast, by Voltage Level (2023-2030) 8.4.2.2. Argentina Substation Market Size and Forecast, by Application (2023-2030) 8.4.2.3. Argentina Substation Market Size and Forecast, by End User (2023-2030) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Substation Market Size and Forecast, by Voltage Level (2023-2030) 8.4.3.2. Rest Of South America Substation Market Size and Forecast, by Application (2023-2030) 8.4.3.3. Rest Of South America Substation Market Size and Forecast, by End User (2023-2030) 9. Global Substation Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Substation Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Siemens (Germany) 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Hitachi Energy (Switzerland) 10.3. Schneider Electric (France) 10.4. Eaton (Ireland) 10.5. Efacec (Portugal) 10.6. Rockwell Automation (US) 10.7. Emerson (US) 10.8. Belden (US) 10.9. L&T Electrical & Automation (India) 10.10. Texas Instruments Incorporated (US) 10.11. General Electric (GE) Company (US) 10.12. Toshiba Corporation (Japan) 10.13. Mitsubishi Electric Corporation (Japan) 11. Key Findings 12. Industry Recommendations 13. Substation Market: Research Methodology 14. Terms and Glossary