Modular Substation Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2030
Modular Substation Market Analysis
Modular Substation Market size is projected to be worth USD 26.85 Billion, registering a CAGR of 8% during the forecast period (2022 - 2030).
Various factors are
propelling the global modular substation industry share. According to the
recent MRFR report, such factors include the growing modernization of electric
substations, growing industrialization, and urbanization, cost-effective &
compact, ample commercial and technical benefits, ready to install, reduce spatial
need, and growing power generation capacity plan worldwide. Additional factors
adding market growth include the burgeoning need for refurbishing/replacing of
aging substation infrastructure, increasing electricity demand in India &
China, booming infrastructural and industrial development activities, lower
installation time, space saving, and enhances aesthetics and safety.
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Report Attribute/Metric |
Details |
CAGR |
8% CAGR (2022-2030) |
Base
Year |
2021 |
Forecast
Period |
2022 to 2030 |
Historical
Data |
2019 & 2020 |
Forecast
Units |
Value (USD Million) |
Report
Coverage |
Revenue Forecast, Competitive
Landscape, Growth Factors, and Trends |
Segments
Covered |
Voltage, Type, Insulation
Type, Application |
Geographies
Covered |
North America, Europe,
Asia-Pacific, and Rest of the World (RoW) |
Market Segmentation
The MRFR report
highlights an inclusive segmental analysis of the global modular substation market based
on application, insulation type, type, and voltage.
By voltage, the
global modular
substation market is segmented into above 400kV, 33k-400kV, and 11kV-33kV. Of
these, the 33kV-400kV segment will have a major share in the market over the
forecast period.
By types, the global
modular substation market is segmented into fixed and skid/trailer mounted. Of
these, the skid/trailer mounted segment will dominate the market over the
forecast period.
By insulation type, the
global modular substation market is segmented into gas and air.
By application, the global
modular substation market is segmented into industrial, power utilities, and
commercial. Of these, power utilities will lead the market over the forecast
period.
Regional
Analysis
Based on the region, the global modular substation market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Middle East and Africa (MEA). Of these, the global modular substation market in the APAC region is predicted to spearhead the market over the forecast period. The presence of aging power infrastructure, growing industrialization and urbanization, rising demand for power solutions for investments in power generation capacity additions, and growing energy generation needs are adding to the global modular substation market growth in the region.
Key Players
Leading contenders
profiled in the global modular substation market report include American Modular Power Solutions, Inc. (US), Enerset Power Solutions
(US), ModPower Solutions (Mexico), Skema S.P.A. (Italy), SPX Transformer
Solutions, Inc. (US), Bharat Heavy Electricals Limited (India), Crompton
Greaves Ltd (India), General Electric (US), Siemens AG (Germany), Eaton
Corporation Plc (Ireland), and ABB Ltd. (Switzerland), among others.
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