ABB leads a fragmented grid modernization market

ABB led global grid modernization sales in 2024 with a 4% share, according to The Business Research Company. The report says the market remains fragmented as utilities and technology vendors race to improve resilience, renewable integration and real-time grid control.

Why it matters: - Grid modernization is becoming a core infrastructure race as utilities add renewable energy, distributed energy resources and digital monitoring to aging power networks. - The market’s fragmentation creates room for partnerships, product launches and regional expansion, while also signaling strong technical and regulatory barriers.

What happened: - The Business Research Company published an update on the global grid modernization market and its competitive landscape. - ABB Ltd. led global sales in 2024 with a 4% market share. - The report lists ABB, Hitachi Energy, Siemens, Schneider Electric, General Electric, Eaton, Honeywell, Itron, Landis+Gyr and Oracle among the leading players.

The details: - The top 10 players accounted for 18% of total market revenue in 2024. - ABB’s electrification and power systems division supplies smart grid automation, digital substations, grid edge technologies and advanced power distribution systems. - The report says those offerings support utilities, renewable energy integration and modernized transmission and distribution networks. - Hitachi Energy and Siemens each held 3% market share, while Schneider Electric also held 3%. - General Electric, Eaton, Honeywell and Itron each held 1% market share. - Landis+Gyr and Oracle each held 0.4% market share. - Major raw material suppliers include General Electric, Siemens Energy, ABB, Hitachi Energy, Eaton, Honeywell, Toshiba Energy Systems and Solutions, Mitsubishi Electric, Emerson Electric, Rockwell Automation, Cisco, Oracle, IBM, SAP, Landis+Gyr, Itron, Schneider Electric Industries, Schweitzer Engineering Laboratories, Hubbell, Nexans, Prysmian, S&C Electric, Vertiv and Johnson Controls. - Major wholesalers and distributors include WESCO International, Rexel, Sonepar, Graybar Electric, Anixter, Avnet, Arrow Electronics, Tech Data, Ingram Micro, Synnex, RS Group, Allied Electronics and Automation, Fastenal, Grainger, CDW, Insight Enterprises, Westcon Group, Exclusive Networks, D&H Distributing, ScanSource, ALSO Holding, Esprinet, Bechtle, Redington, Logicom and EET Group. - Major end users include NextEra Energy, Duke Energy, Southern Company, Dominion Energy, Pacific Gas and Electric, National Grid, Enel, Iberdrola, EDF Energy, E.ON, American Electric Power, Exelon, Xcel Energy, Florida Power and Light, Hydro-Québec, Tokyo Electric Power Company Holdings, State Grid Corporation of China, China Southern Power Grid, Power Grid Corporation of India, Tenaga Nasional Berhad, Korea Electric Power Corporation and Schneider Electric Energy Division.

Between the lines: - AI-driven hybrid cloud platforms are emerging as a key competitive edge because they improve resiliency, outage management and distributed energy resource integration. - Schneider Electric launched one digital grid platform in March 2025, an AI-powered hybrid cloud solution for utility operations. - The platform’s unified digital architecture, cloud-native deployment and automation tools are designed to speed utility response times and stabilize decentralized energy networks. - The competitive field is increasingly shaped by smart grid automation, advanced metering, IoT systems, grid expansion and AI-driven analytics.

What’s next: - The report expects strategic collaborations, product innovation and regional expansion to strengthen the position of leading companies. - Demand for intelligent power distribution, renewable integration and real-time grid monitoring is expected to keep pressure on vendors to invest in digital infrastructure. - The 2026 edition of the report adds market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards and updated trend graphics.

The bottom line: - Grid modernization is still a wide-open market, but scale, software and utility relationships are deciding who gains share.