Global Packaged Substation Market Size, Drivers, Trends, Opportunities And Strategies – Includes Packaged Substation Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
An rise in power demand is likely to drive the packaged substation industry ahead.
The global packaged substation market size is expected to grow from $14.66 billion in 2022 to $16.16 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The global packaged substation market size is expected to reach $22.78 billion in 2027 at a CAGR of 9%.
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Global Packaged Substation Market Segments Include:
- By Type: Indoor Packaged Substation, Outdoor Packaged Substation
- By Voltage: High, Medium, Low
- By Application: Mining, Power, Oil And Gas, Infrastructure, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global packaged substation market in 2021.
Major Market Players in the packaged substation market include ABB Ltd., Schneider Electric SA, Eaton Corporation, Siemens AG, Larsen and Toubro Limited, General Electric Company , Lucy Electric, Toshiba Corporation.
Product innovation is a crucial trend that is gaining traction in the packaged substation industry. Companies in the packaged substation industry are introducing innovative goods to maintain their market position. For example, TP Southern Odisha Distribution Limited (TPSODL), an Indian electricity distribution company, will debut a mobile compact substation in April 2022. The mobile substation is made up of a distribution transformer, high- and low-tension protection devices, and other equipment mounted on a mobile trolley. In addition to travel time, the plug-in-type transportable compact substation takes around 1.5 hours to set up. When an existing transformer breaks, or when huge institutions such as hospitals, water supply systems, or cyclones and storms require emergency services, it is utilised to restore power instantly.
The Packaged Substation Global Market Report 2023 provides a packaged substation market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The packaged substation market forecast analyzes packaged substation market size, packaged substation market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A prefabricated modular assembly of electrical distribution equipment designed for a specific power distribution application is referred to as a packaged substation. The major role of a package substation is to transfer power from the DNO (distribution network operator) into the LV distribution system of a building. A package substation normally requires at least one high-voltage feed of approximately 11 kV.
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