DUBLIN, Oct. 27, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/vtfm94/modular) has announced the addition of the "Modular Substation Market by Application, Voltage, Type, Insulation, & by Region - Global Trends and Forecast to 2020" report to their offering.
Global Modular Substation Market is projected to witness high growth on account of aging infrastructure requiring replacement & refurbishment and increasing T&D network expansions. 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. , with 33kV-400kV modular substations being the most widely used modular substations for reliable power supply. Power utilities have been a major area of application of the modular substations.
Asia-Pacific held the major share in 2014; it is followed by North America and Europe. China and Saudi Arabia have higher growth potential for Modular substation. This growth can be attributed to the increased investment in power sector in Saudi Arabia and progressive economic growth of China. China is becoming the industrial hub because of low labour cost and increasing urbanization. The country is experiencing fast economic growth which would more than double the per capita electricity consumption by 2030. The market is expected to dominate the global demand for the modular substation during the forecast period.
In terms of growth strategies, market players have been establishing contracts and agreements to strengthen their market foothold. This was followed by expansions, new product launches, and mergers & acquisitions. A mix of organic and inorganic growth strategies has been observed in equal proportions along with the key developments that impacted the industry in the past years.
Leading players in the industry, based on their recent developments and other strategic industrial activities, include ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Siemens AG (Germany), General Electric Company (U.S.), and Crompton Greaves Ltd. (India).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Modular Substation Market, By Application
7 Modular Substation Market, By Type
8 Market, By Voltage Level
9 Market, By Insulation Type
10 Market, By Region
11 Competitive Landscape
12 Company Profiles
- ABB Ltd.
- American Modular Power Solutions, Inc.
- Ampcontrol Pty Ltd.
- Bharat Heavy Electricals Limited
- Creative Distribution Automation Co. Ltd.
- Crompton Greaves Limited
- Eaton Corporation PLC
- Enerset Power Solutions
- General Electric Company
- Modpower Solutions
- SPX Transformer Solutions, Inc.
- Siemens AG
- Skema S.P.A.
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SOURCE Research and Markets