HOME › Press Releases › Modular Substation Market worth 16.48 Billion USD by 2020
Modular Substation Market worth 16.48 Billion USD by 2020
The report "Modular Substation Market by Application (Power Utilities, Commercial, Industrial), Voltage (11-33kV, 33-400kV, & above 400kV), Type (Trailer Mounted & Fixed), Insulation (Air-insulated & Gas-insulated), & by Region - Global Trends and Forecast to 2020", This study on the modular or compact substation market defines and segments the market through regional forecast and segment revenue estimates till 2020. Key market players from the industry segment have been studied to track developments, technologies, and other key business strategies that define the modular substation market environment.
Browse 84 market data tables and 57 figures spread through 158 pages and in-depth TOC on “Modular Substation Market by Application (Power Utilities, Commercial, Industrial), Voltage (11-33kV, 33-400kV, & above 400kV), Type (Trailer Mounted & Fixed), Insulation (Air-insulated & Gas-insulated), & by Region - Global Trends and Forecast to 2020"
Early buyers will receive 10% customization on reports.
Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020. Major drivers identified behind this growth include high rate of urbanization & industrialization and aging infrastructure requiring refurbishment & replacement.
Asia-Pacific: The largest market for modular substation
Asia-Pacific was the largest market for modular substation in 2014, driven largely by the developments in fast growing economies such as China, India and other countries in the Southeast Asia. These developments are due to rapid urbanization and growing energy needs. Moreover, the adoption of smart grid & substation projects and focus on industrialization projects require modernized grid facilities that reduce environmental impact and improve reliability by using equipment such as modular substation.
Power Utilities: Biggest market by application
Power utilities started to utilize modular substations to a great extent, and currently are the largest consumers of such equipment. Modular substation help utilities to efficiently operate their power related infrastructure for power generation, transmission, and distribution purposes. Moreover, these solutions help utilities in integration of distributed generation with the central grid, thereby reducing power losses. Expansion of T&D networks and capacity additions are proportionately pushing the demand for modular substation in power utilities segment. Power utilities account for an estimated 43.5% market share in the modular substation market in 2015.
Key players in the modular substation market include ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Siemens AG (Germany), General Electric Company (U.S.), and Crompton Greaves Ltd. (India). Competitive analysis of these players has been included in the report, along with market share for the top five players. Recent developments and other strategies have also been analyzed to identify the most widely followed growth strategies in the industry. Impact analysis of various developments is also provided in the competitive landscape. Company profiles highlight the market presence of the major players in the modular substation market. Moreover, strengths, weakness, opportunities, and threats to the top 5 market players have been identified within the company profiles. Accordingly, the recommendation on the future outlook of the company is provided under the MarketsandMarkets view, which offers meaningful insights for the future development of the companies discussed in the report.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India