PUNE, India, October 9, 2015 /PRNewswire/ --
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" published by MarketsandMarkets, 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.
Browse 84 market data Tables and 57 Figures spread through 158 Pages and in-depth TOC on "Modular Substation Market"
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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.
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.
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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.
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