Substation Grounding System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The market is segmented by Application (Power Transmission, Power Distribution, and Others), Component (Connector, Conductor, Wires, and Others), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

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Substation Grounding System Market Size

Substation Grounding System Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Substation Grounding System Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Substation Grounding System Market Analysis

The global substation grounding system market is expected to grow at a CAGR of over 4% during the forecast period of 2020-2025. Factors such as increasing power generation capacity plan across the world, growing demand for replacing/refurbishing of aging substation infrastructure, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities, are expected to drive the market during the forecast period. Moreover, increasing investments in transmission and distribution infrastructure with efficient fully safe systems are expected to bolster the growth of the market. However, delay in the implementation of electrification projects globally and high cost associated with substation grounding, the growth of the market is likely to be hampered.

  • Power transmission is expected to hold the maximum share in the global substation grounding system market and be the largest segment during the forecast period. Many developing countries are expected to upgrade their transmission sector, which is further expected to bolster the substation grounding system market.
  • Rising electrification projects in Africa and Asia-Pacific countries, with several initiatives signaling that significant improvements are underway in the regions to improve the transmission and distribution network, is expected to create ample opportunities for the substation grounding system market players.
  • Asia-Pacific is expected to be the largest market and fastest growing market, owing to one-third of the world's population currently residing in India and China, with the two countries accounting for major share of global electricity demand.

Substation Grounding System Market Trends

This section covers the major market trends shaping the Substation Grounding System Market according to our research experts:

Power Transmission Segment to Dominate the Market

  • Power transmission network is expected to increase the demand for substation grounding system market, owing to factors like rising in electricity demand globally, high demand for safe grids, and increasing need for upgradation of the existing transmission networks. Furthermore, power generation companies are looking to comply with safety norms efficiently while investing in substation grounding systems.
  • Moreover, the power transmission is expected to witness significant demand over the forecast period, due to the rapid improvement in the power sector through the implementation of smart grid and smart meter technology.
  • In 2018, India was the third-largest electricity-generating nation in the world. This power is generated from both conventional and renewable sources. The country has made major strides in improving access to power among both rural and urban communities through various government-led schemes focused on Power for All.
  • Further, countries in the Middle-East and African region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of transmission power grids, which increases the growth prospects of the substation grounding system market.
  • Therefore, with increasing urbanization and industrialization across the developing economies, the demand for power transmission is expected to witness significant growth, which in turn is likely to bolster the substation grounding system market during the forecast period.
Substation Grounding System Market Share

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be the largest and the fastest-growing region, due to the increasing power generation capacity plans, growing demand for replacing/refurbishing of aging transmission and distribution networks, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities.
  • China has witnessed high rates of demand for electricity, owing to the unprecedented growth of the economy, coupled with factors, such as rapid industrialization and urbanization electricity. The robust economic growth in China reached nearly 7%, and the gross electricity consumption grew by 6.6%, exceeding 6,000 TWh, for the first time in 2017.
  • Utilities and governments in China are developing new generation projects, particularly renewable energy ones, to meet the rising electricity demand. This is likely to require power infrastructure to accommodate these projects, which is expected to drive the growth of the substation grounding system market in the country.
  • With Australia's ageing electricity infrastructure nearing the end of its lifespan, it has become crucial to refurbish/ renovate electricity distribution network for increasing renewable energy generation. Moreover, the country has been taking initiatives to modernize its energy infrastructure, for which, the government invests nearly USD 5 billion each year into the transmission distribution network.
  • Furthermore, the Indian government plans to invest further in strengthening the electrical network, to build a strong and smart grid, and this, in turn, is expected to supplement the demand for substation grounding system in the country.
Substation Grounding System Market Forecast

Substation Grounding System Industry Overview

The substation grounding system market is moderately consolidated. Some of the key players are ABB Ltd, Siemens AG, Eaton Corporation PLC, Hubbell Incorporated, and Southwire Company LLC.

Substation Grounding System Market Leaders

  1. ABB Ltd

  2. Siemens AG

  3. Eaton Corporation PLC

  4. Hubbell Incorporated

  5. Southwire Company LLC

*Disclaimer: Major Players sorted in no particular order

ABB Ltd, Siemens AG, Eaton Corporation PLC, Hubbell Incorporated, and Southwire Company LLC.
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Substation Grounding System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Power Tranmission

      2. 5.1.2 Power Distribution

      3. 5.1.3 Others

    2. 5.2 Component

      1. 5.2.1 Connector

      2. 5.2.2 Conductor

      3. 5.2.3 Wires

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 ABB Ltd

      2. 6.3.2 Eaton Corporation PLC

      3. 6.3.3 Siemens AG

      4. 6.3.4 Southwire Company LLC

      5. 6.3.5 Hubbell Power Systems Inc

      6. 6.3.6 E&S Grounding Solutions

      7. 6.3.7 Littelfuse Inc.

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Substation Grounding System Industry Segmentation

The substation grounding system market report include:

Application
Power Tranmission
Power Distribution
Others
Component
Connector
Conductor
Wires
Others
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Substation Grounding System Market Research FAQs

The Substation Grounding System Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

ABB Ltd, Siemens AG, Eaton Corporation PLC, Hubbell Incorporated and Southwire Company LLC are the major companies operating in the Substation Grounding System Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Substation Grounding System Market.

The report covers the Substation Grounding System Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Substation Grounding System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Substation Grounding System Industry Report

Statistics for the 2024 Substation Grounding System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Substation Grounding System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Substation Grounding System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)