Packaged Substation Market Research Report - Global Forecast till 2027

Packaged Substation Market Research Report: Information by Type (Below 36 kV and 36-150 kV), by Application (Industrial, Power, and Infrastructure), and by Region (North America, Europe, and Asia-Pacific) - Forecast till 2027

ID: MRFR/E&P/6219-HCR | February 2021 | Region: Global | 111 pages

Packaged Substation Market Scenario


Packaged substation market is expected to grow at ~9.50% CAGR during the forecast period.


The growing industrialization and urbanization, cost effectiveness, and increasing power demand are some of the major factors driving the packaged substation market. In Asia-Pacific, the major economies including China and India, have extensively contributed towards increasing electricity production due to increasing demand for electricity. The changing electricity consumption pattern in the region has led to T&D losses. Thus, the focus on minimizing the T&D losses has resulted in the need for a proper system to mitigate the losses occurring due to the complex electricity T&D network. Moreover, the government of several economies in Asia-Pacific are actively participating in bringing energy efficiency in the T&D network. The region is also witnessing a lot of investment being made in the renewable energy sector, which will increase the number of packaged substations being installed at different locations.


The global packaged substation market is projected to grow at a significant growth rate during the forecast period due to the increasing urbanization and reduced losses in the power distribution system. The changing electricity consumption pattern in the region has led to T&D losses. Thus, the need to minimize the T&D losses has triggered the need for a proper system to mitigate the losses occurring due to complex electricity T&D network. However, the government agencies in various economies in Asia-Pacific are actively working to bring energy efficiency in the T&D network. Asia-Pacific holds the largest market for packaged substation and is driven largely by the number of distribution network upgrades and developments in China, India, and the Southeast Asian countries. This growth is attributed to growing urbanization and industrial revolution in the region.


 


Key Players


 


The key players of global packaged substation market are ABB (Switzerland), Toshiba (Japan), Schneider Electric (France), Siemens (Germany), Lucy Electric (UK), Littlefuse Inc. (US), Larsen & Toubro Ltd. (India), General Electric (US).


The global packaged substation market has been segmented based on type, application, and region. On the basis of type, the market has been classified into two voltage ranges such as below 36 kV and 36-150 kV. The voltage range 36-150 kV would dominate during the forecast period due to the wide application of high voltage range packaged substation in power and infrastructure area.


Market Segmentation


Packaged Substation Market


The global packaged substation market is expected to witness a high growth rate during the forecast period due to a rise in the demand for efficient power generation. For instance, according to USDA would invest USD 1.6 billion in 46 rural electric utility infrastructure projects to improve electric reliability and resilience. This would in turn increase the demand for packaged substations. Asia-Pacific holds the largest share in the packaged substation market due to the rising urbanization ad industrialization in emerging economies such as India, China, and South Korea. Major trends in urban infrastructure development including smart cities are creating opportunities for the global packaged substation market.


A packaged substation is a combination of a ring main unit, a transformer, and a low-voltage panel. The key function of a packaged substation is to step down the high voltage electricity from the transmission system to lower the voltage electricity so that it can easily be supplied to homes and businesses through the distribution lines. The main features of a packaged substation include self-contained package substation, all the equipment packed in a separate compartment, individual door operated lamp for illumination purpose. All the compartments in a packaged substation are individually accessible. Additionally, these substations are highly flexible, owing to the personalized configurations from a wide range of existing products. These custom-made packaged substations are easy to install and facilitate minimum time and cost.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   9.50% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ABB (Switzerland), Toshiba (Japan), Schneider Electric (France), Siemens (Germany), Lucy Electric (UK), Littlefuse Inc. (US), Larsen & Toubro Ltd. (India), General Electric (US)
  Key Market Opportunities   New product launches and R&D amongst major key players
  Key Market Drivers

  • Growing Industrialization and Urbanization
  • Cost Effectiveness
  • Increasing Power Demand


  • Frequently Asked Questions (FAQ) :


    The growing industrialization and urbanization, cost effectiveness, and increasing power demand are the main factors driving the packaged substation market.

    The major countries such as China and India have contributed towards increasing electricity production.

    At 9.50% CAGR the market grows in the future.

    Larsen & Toubro Ltd. (India), Toshiba (Japan), Schneider Electric (France), ABB (Switzerland), Lucy Electric (UK), Littlefuse Inc. (US), Siemens (Germany), General Electric (US) are the key players of the market.

    Asia-Pacific has the largest share in the packaged substation market.