Package Substation Market
Package Substation Market by Voltage (High, Medium, Low) by Application (Power Utilities, Commercial and Industrial, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
The global Package Substation market was valued at USD 13.56 Million in 2020 and is projected to reach USD 31.48 Million by 2028, growing at a CAGR of 11.10%% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||31.48 Million|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||11.10%%|
Overview and Description
The unit & package substation is a consolidation of the Ring Main unit, The Low-Voltage panel, and The Transformer. A unit substation is a combination of a Low Voltage panel and a Transformer. These substations are then used for efficient electrical power distribution in low voltage to medium voltage distribution systems.
The global Package Substation market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028.
COVID-19 Impact Analysis
COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
Factors such as rising power generation capacity globally, rising demand for refurbishing/ replacing of aging substation infrastructure, and growing electricity demand, especially, in emerging nations such as India and China, due to rapidly growing infrastructural and industrial development activities, are likely to drive the market.
The rising application in the renewable energy sector of emerging and new countries is anticipated to create substantial growth opportunities in the near future.
Factors such as deficiency of power handling possibilities compared to some broad outdoor substations, among others are likely to hamper the market growth in the forecast period.
Global Package Substation Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Voltage, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||General Electric Company, Eaton Corporation PLC, Schneider Electric SE, Larsen & Toubro Limited., and Kirloskar Electric Company Ltd.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
Global Package Substation Market: Voltage Segment Analysis
Global Package Substation Market: Application Segment Analysis
- Power Utilities
- Commercial and Industrial
Regional Analysis: Preview
Based on region, the global Package Substation market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.
The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Package Substation market are General Electric Company, Eaton Corporation PLC, Schneider Electric SE, Larsen & Toubro Limited., and Kirloskar Electric Company Ltd.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
Market Size, 2021 (USD Billion)
Global Package Substation Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Key Highlights – Global Package Substation Market
- Global Package Substation Market is projected to reach USD 31.48 Million by 2028
- Asia Pacific held the highest share of the Package Substation market
- low held the largest share of the product segment in the Package Substation market
- power utility held the major share of the application segment in the Package Substation market
Frequently Asked Questions
the global demand for Package Substation
in terms of revenue?
The global Package Substation valued at 13.56 Million in 2020 and is expected to reach 31.48 Million in 2028 growing at a CAGR of 11.10%%
are the prominent players
in the market?
The prominent players in the market are General Electric Company, Eaton Corporation PLC, Schneider Electric SE, Larsen & Toubro Limited., and Kirloskar Electric Company Ltd..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 11.10%% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Package Substation include
- Factors such as rising power generation capacity globally, rising demand for refurbishing/ replacing of aging substation infrastructure, and growing electricity demand, especially, in emerging nations such as India and China, due to rapidly growing infrastructural and industrial development activities, are likely to drive the market.
- The rising application in the renewable energy sector of emerging and new countries is anticipated to create substantial growth opportunities in the near future.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Package Substation in 2020.