Global Modular Substations Market - Overall Industry Analysis
Progressive Markets added a report, “Global Modular Substations Market - Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025,” which says that the market is expected to grow at a CAGR of 9.1% from 2017 to 2025.
Forming a part of an electrical generation, transmission, and distribution system, a substation is an electric system facility. Comprising of transformers and several other components, the system helps lower down the voltage or increase it. Modular substations are taking the place of conventional substations on account of the numerous benefits they provide such as flexibility, scalability, and reliability. Furthermore, modular substations are cost-effective, safe, and provide time, space, and labor saving options for the already constructed, to be replaced, or an addition of capacity to the existing system.
Market Drivers and Restraints
The market for global modular substations is witnessing a significant growth on account of several factors. The rapid urbanization and industrialization across the world are likely to increase the demand for modular substations. Moreover, ageing infrastructure which requires replacement and renovation is likely to drive the market during the forecast period. On the other hand, adoption of new technology is likely to increase the energy cost for consumers, which may lead to the slowdown of modular substations market during the forecast period. Also, lack of standardization is expected to diminish the demand for the modular substations during the forecast period.
Modular Substations Market Segmentation
The global modular substations market report encompasses the market segmentation by type, voltage, insulation, application, and geography. Based on the type, the market is classified into skid/trailer mounted modular substations and fixed modular substations. Based on voltage, the modular substations market is divided into 1133kV, 33400kV, and above 400kV. Based on insulation, the market is divided into air-insulated and gas-insulated. Based on application, the market is divided into power utilities, commercial, and industrial. Based on geography, the market is segmented into North America, Asia-Pacific, Europe, and LAMEA. The market analysis in the North-American region covers the U.S., Canada, and Mexico. The market analysis in the Asia-Pacific region covers the regions such as China, India, South Korea, Japan, and the other parts of Asia-Pacific. The market analysis in Europe has been covered for the regions such as Germany, UK, France, Italy, and the other parts of Europe. In the LAMEA region, the modular substations market analysis report analyzes the market across Brazil, Africa, Turkey, and the rest of LAMEA.
- Skid/Trailer Mounted Modular Substations
- Fixed Modular Substations
- Power Utilities
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of LAMEA
Key Market Players
The modular substations market report includes a mention of the top players operating in the market. They include Modpower Solutions., Eaton Corporation PLC, Skema S.P.A., American Modular Power Solutions Inc., Bharat Heavy Electricals Limited (BHEL), SPX Transformer Solutions Inc., Creative Distribution Automation Co. Ltd., Siemens AG, General Electric Co., and Crompton Greaves Limited.
Key Benefits of the Market
The report analyzes the overall global modular substations industry which encompasses modular substations market size, modular substations market share analysis (2014-2025), modular substations industry statistics, market dynamics, modular substations market outlook, Porter’s analysis, modular substations market forecast, modular substations market trends, key market players, and industry segmentation. The report includes recent information obtained from various research sources. An assessment of the current and future market trends helps market players and entrants identify the factors that affect the market and take advantage of the positive changes. The report also includes the market size and forecast (2017-2025) for the given market segments, helping players use their resources more effectively and make better business decisions. The drivers and restraints of the market help focus on the opportunities for growth and form business plans. A geographical analysis of the market is provided for each of the segments and sub-segments to help determine the lucrative investment pockets. The Porter’s five forces analysis helps identify the market competitors and understand their mission, vision, core values, strengths, and weaknesses.