Market Share of Substation Automation Industry
The substation automation market is fragmented and appears to be highly competitive. Market leaders are investing in research and development to innovate their products continuously and are increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and a cost-effective product portfolio. Some of the key players in the market include ABB Limited, Siemens AG, Schneider Electric SE, General Electric Co., Cisco Systems Inc., and Eaton Corporation.
November 2023: Eaton announced the opening of its new Global Innovation Center near Montreal in Brossard, Quebec, worth USD 3 billion. It focuses its efforts on accelerating R&D in Distributed Energy Resources Technology to promote the development of technologies that enable electricity grids to generate power from renewable energy sources. The company continuously invests in high-growth, high-margin businesses to meet the customers' changing needs and strengthen its product portfolio.
June 2023: GE Grid Solutions secured a contract with Larsen & Toubro to supply three 380 kV T155 gas-insulated switchgear (GIS) substations for the largest utility-scale green hydrogen plant in Saudi Arabia. By the end of 2026, NEOM Green Hydrogen Company intends to produce carbon-free hydrogen using wind and solar energy at its plant, with a production capacity of up to 600 tons per day.
Substation Automation Market Leaders
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ABB Limited
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Siemens AG
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Schneider Electric SE
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General Electric Co
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Cisco Systems Inc.
*Disclaimer: Major Players sorted in no particular order
