India Electric Substation Market Size, Share & Forecast 2033

India Electric Substation Market Size, Share, Trends and Forecast by Type, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A30413

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India Electric Substation Market Overview:

The India electric substation market size reached USD 4.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.3 Billion by 2033, exhibiting a growth rate (CAGR) of 5.08% during 2025-2033. The market is driven by rising electricity demand due to urbanization and industrial expansion, government investments in grid modernization, and increasing renewable energy integration. Smart grid adoption, infrastructure upgrades, and policies supporting efficient power transmission further propel market growth, enhancing reliability, reducing losses, and ensuring energy security across regions.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 4.0 Billion
Market Forecast in 2033	USD 6.3 Billion
Market Growth Rate 2025-2033	5.08%

India Electric Substation Market Trends:

Expansion of Renewable Energy Integration

India’s rapid renewable energy expansion is driving significant upgrades in electric substation infrastructure to accommodate fluctuating solar and wind power inputs. With the government’s target of integrating 20 GW of renewable energy through new transmission lines by 2026, substations are being modernized to enhance grid stability. High-voltage and hybrid substations, along with grid-scale energy storage systems, are crucial for managing variable power flows. Technologies such as Static Synchronous Compensators (STATCOMs) and advanced power transformers are being deployed to regulate voltage fluctuations and improve power quality. The Green Energy Corridor initiative is facilitating transmission expansion across Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu, and Uttar Pradesh. As India moves toward its clean energy goals, modern substations play a pivotal role in supporting decentralized power generation and efficient energy distribution.

India Electric Substation Market Size

Growing Adoption of Smart Substations

The Indian electric substation market is experiencing greater adoption of smart substations, fueled by the demand for optimal energy management and grid modernization. Digital technologies like real-time monitoring systems, Intent of Things (IoT)-based sensors, and automation are revolutionizing conventional substations into intelligent power centers. Utilities are more and more adding Supervisory Control and Data Acquisition (SCADA) and advanced communication networks to enhance the operational efficiency, reduce downtime, and improve the reliability of power. Government programs encouraging digital transformation of the grid and smart city projects speed up this trend. The shift to intelligent substations also facilitates renewable integration by allowing greater demand-supply balancing, real-time analysis, and predictive maintenance, lowering operating expenses while improving energy security and transmission efficiency throughout the power grid.

Increased Investments in Grid Modernization

The Indian government and private sector are investing heavily in grid modernization to enhance power infrastructure and reduce transmission losses, aligning with India’s renewable energy integration goals. Aging substations are being upgraded with automation, digital control systems, and remote monitoring to improve efficiency. Gas-insulated substations (GIS) are gaining traction due to their space efficiency and reliability, especially in urban areas. Key initiatives like the Revamped Distribution Sector Scheme (RDSS) and the Green Energy Corridor project are accelerating modern substation deployment. With India targeting 175 GW of renewable energy integration by 2022 and 450 GW by 2030, the demand for high-voltage substations is rising. Grid modernization efforts are vital for a stable, resilient, and future-ready electricity network.

India Electric Substation Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type and application.

Type Insights:

AIS Substation
GIS Substation

The report has provided a detailed breakup and analysis of the market based on the type. This includes AIS substation, and GIS substation.

Application Insights:

Power Transmission and Distribution
Manufacturing and Processing

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes power transmission and distribution, and manufacturing and processing.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North, South, East, and West India

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Electric Substation Market News:

In February 2025, Power Grid Corporation of India (Powergrid) has acquired Khavda V-B1B2 Power Transmission Limited (KVB1B2) for Rs 651 million under a tariff-based competitive bidding process. The project involves augmenting transformation capacity at KPS1 and KPS2 substations in Gujarat under the BOOT model. Powergrid now holds the transmission license and regulatory approvals, ensuring efficient execution of the under-construction substations to enhance power transmission infrastructure.
In September 2024, Tata Power Delhi Distribution (Tata Power-DDL) and Nissin Electric Co are set to launch India’s first micro substation project, aiming to provide stable electricity to remote areas lacking grid access. This initiative marks a significant step in enhancing India’s energy infrastructure, ensuring reliable power supply through advanced technology. The demonstration project will showcase innovative solutions for decentralized energy distribution, supporting rural electrification and strengthening sustainable power access across underserved regions.

India Electric Substation Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Application Region
Types Covered	AIS Substation, GIS Substation
Applications Covered	Power Transmission and Distribution, Manufacturing and Processing
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India electric substation market performed so far and how will it perform in the coming years?
What is the breakup of the India electric substation market on the basis of type?
What is the breakup of the India electric substation market on the basis of application?
What is the breakup of the India electric substation market on the basis of region?
What are the various stages in the value chain of the India electric substation market?
What are the key driving factors and challenges in the India electric substation market?
What is the structure of the India electric substation market and who are the key players?
What is the degree of competition in the India electric substation market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India electric substation market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India electric substation market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India electric substation industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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