Reports - Packaged Substation Market
Packaged Substation Market by Type (High, Medium, Low), by Application (Industries, Infrastructure, Power), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
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2024
2035
12.95%
Asia Pacific
Asia Pacific
2024
2023 - 2027
2027 - 2035
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
Packaged Substation Market: By voltage Split, Application, and Region
Market Synopsis
Global Packaged Substation Market is projected to reach USD 25.14 Billion from USD 16.2 Billion in 2021 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.
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.
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:
Source: www.vantagemarketresearch.com
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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 | |
Pricing and purchase options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
Base Year
2024
Historic Year
2018 - 2022
Forecast Year
2023 - 2032
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