Packaged Substation Market
Packaged Substation Market - Global Industry Assessment & Forecast
#
Pages:
162
2022
Jan - 2022
VMR-1117
Segments Covered
By
Type High, Medium, Low
-
By
Application Industries, Infrastructure, Power
-
By
Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
 Base Year:
|
2022 |
| Forecast
Years:
|
2023 - 2030 |
 Historical
Years:
|
2017 - 2021 |
 Revenue
2022: |
USD 17.44 Billion |
 Revenue 2030:
|
USD 34.73 Billion |
 Revenue CAGR
(2023 - 2030): |
9.00% |
Fastest Growing Region (2023 -
2030)
|
Asia Pacific |
Largest Region (2022):
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Packaged Substation Market: By voltage Split, Application, and Region
Market Synopsis
Global Packaged Substation Market is projected to reach USD 34.73 Billion from USD 17.44 Billion in 2022 at a CAGR of 9.2% during the forecast period.
Demand for Packaged Substation is growing at a rapid pace as it provides flexibility and convenience and it is easy to install and reuse. Packaged Substation can be defined as a complete power system integrated into a single package that consist all the components required by the user for operation & maintenance purpose such as line connection devices, cables, control/instrumentation section with PLC based real time SCADA systems etc. It reduces initial cost of infrastructure due to reduction in civil works and also future expansion becomes easy. In addition, Packaged Substation can be used multiple times which in turn reduces the equipment cost. Moreover, power quality improvement, reduction in system losses and increased equipment life are some other benefits of utilizing Packaged Substation.
Packaged Substation Market Size, 2022 To 2030 (USD Billion)
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Segmentation
On the basis of type, the market is segmented into high, medium, and low. Based on application, the market is segmented into industries, infrastructure, power, and others.
Report Coverage & Deliverables
- Real-Time Data Updates:
- Competitor Benchmarking
- Market Trends Heatmap
- Custom Research Queries
- Market Sentiment Analysis
- Demographic and Geographic Insights
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Growing Need for Cost Efficient Power Supply to Play Key Role in Growth of Packaged Substation Market
The increasing demand for Packaged Substations is primarily due to growing need for cost efficient power supply, growing demand for better quality power supply & reduced distribution network loss. It also provides higher level of safety & reliability which makes it quite popular among end users. However, the performance of Packaged Substation varies with application hence it might not be suitable or required everywhere. Based on the type of application where it’s utilized like residential/commercial/industrial/utilities etc., market can be segmented into multi-purpose (waterproof) and specialty (seismic zone 4, explosion proof). Specialty type is projected to dominate the market due to growing demand for power quality, reliability and safety in long term.
Asia Pacific is the Largest Packaged Substation Market
Asia Pacific is the largest market for Packaged Substations, followed by Europe and North America on account of rising power demand, increasing focus on grid infrastructure development and growing penetration of renewable energy sources in these regions. Moreover, global Packaged Substations market is expected to witness significant growth throughout the forecast period on account of increasing penetration of power and energy efficient systems and appliances. The demand for Packaged Substation in the Asia Pacific region is mainly driven by increasing share of renewable energy sources such as solar and wind in electricity generation across the world. Furthermore, increase in investments in transmission & distribution (T&D) activities throughout the globe also fuels the demand for Packaged Substations.
Packaged Substation Market is Highly Fragmented
Industry is highly fragmented with players like APL Apollo T&D Co., Ltd., Siemens AG, ABB Ltd., Toshiba Corporation & Schneider Electric SE having significant presence with wide distribution network and large product portfolio with different technologies. As per our findings, latest trend gaining momentum is replacement of older plant equipment by new Packaged Substation in existing networks. This is primarily driven by ease in installation & reduced downtime associated with traditional approach of upgrading the old transformer with the help of pole mounted or pad mounted oil immersed transformers. Primary growth strategies adopted by most companies are new product launches, agreements & contracts, expansions & investments etc., to strengthen their position
Key Players
Some of the key players in the global Packaged Substation market are Eaton Corporation (Ireland), GE (U.S.), ABB Ltd. (Switzerland), Schneider Electric SA (France), and Siemens AG (Germany)
The Packaged Substation is Segmented as Follows:
Parameter
Details
Segments Covered
Regions & Countries Covered
Companies Covered
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 North America, company market share analysis, and COVID-19
impact analysis
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FAQ
Frequently Asked Question
What is the global demand for Packaged Substation in terms of revenue?
-
The global Packaged Substation valued at USD 17.44 Billion in 2022 and is expected to reach USD 34.73 Billion in 2030 growing at a CAGR of 9.00%.
Which are the prominent players in the market?
-
The prominent players in the market are Eaton Corporation (Ireland), GE (U.S.), ABB Ltd. (Switzerland), Schneider Electric SA (France), and Siemens AG (Germany).
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 9.00% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Packaged Substation include
- Growing Need for Cost Efficient Power Supply to Play Key Role in Growth of Packaged Substation Market
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Packaged Substation in 2022.
