Substation Grounding System Market Insights Video

According to Cognitive Market Research, the global Substation Grounding System market size is USD 100369.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 10.60% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 40147.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 30110.76 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 23084.92 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
• Latin America had a market share for more than 5% of the global revenue with a market size of USD 5018.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2007.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
• The power transmission segment is the dominant category. This is primarily due to the critical importance of reliable grounding systems in ensuring the stability and safety of high-voltage power transmission infrastructure.