Mobile Substation Market Growth, Industry Analysis, Business Opportunities and Latest Innovations
Market Analysis
The mobile substation market is likely to grow at a 5% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis. A mobile substation is a container that is equipped with essential medium and high voltage components of a full substation, including control systems, DC and AC auxiliary power, protection and control equipment, surge arresters, metering transformers, switchgear and disconnect switches, and power transformer. A substation plays an imperative part in the transmission and distribution of electrical power all through the grid.
Various factors are fuelling the global mobile substation market share. As per the recent MRFR market estimates, such factors include the various alluring features such as flexible solution, easy installation, and time saving, growing adoption of mobile substations in the power and energy market, growing industrialization, cost effectiveness, wide application in residential, industrial and utility sectors, and fast restoration of power supply during power outage.
On the contrary, lack of awareness, impact of the COVID-19 pandemic, and high maintenance of mobile substations may limit the global mobile substation market growth over the forecast period.
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Regional Analysis
By region, the global mobile substation market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will head the market over the forecast period. Considerable rise in transmission and distribution network, growing need for power, growing demand for mobile substation, developing power sector, high demand for energy, and growing non-conventional and conventional power generation plants are adding to the global mobile substation market growth in the region.
In the APAC region, the global mobile substation market is predicted to have promising growth over the forecast period. Growing demand for power, rising population, growth of the industrial sector, growing need for proper power transmission and distribution for uninterrupted power supply, and cost effective nature are adding to the global mobile substation market growth in the region.
In Europe, the global mobile substation market is predicted to have healthy growth over the forecast period. Presence of major companies and adoption of technology are adding to the global mobile substation market growth in the region.
In RoW, the global mobile substation market is predicted to have steady growth over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global mobile substation market based on application, power rating, mobile transformer, and voltage type.
By voltage type, the global mobile substation market is segmented into MV and HV. Of these, the MV segment will lead the market over the forecast period.
By mobile transformer, the global mobile substation market is segmented into distribution transformer and power transformer. Of these, the distribution transformer segment will dominate the market over the forecast period.
By application, the global mobile substation market is segmented into industrial, infrastructure, energy and utilities, and others. Of these, the energy and utilities segment will spearhead the market over the forecast period.
By power rating, the global mobile substation market is segmented into above 100 MVA, 25 MVA-100 MVA, 11 MVA- 25 MVA, and up to 10 MVA. Of these, the 25 MVA- 100 MVA segment will have the lions share in the market over the forecast period.
Key Players
The notable players profiled in the global mobile substation market report include Delta Star Inc. (U.S.), Atlas Electric Inc (U.S.), WEG (Brazil), EKOSinerji (Turkey), Enerset Power Solutions (Texas), Matelec Group (Lebanon), Meidensha Corporation (Japan), Elgin Power Solutions (U.S.), Qingdao TGOOD Electric (China), General Electric Company (U.S.), Siemens AG (Germany), and ABB Ltd. (Switzerland), among others.
The mobile substation market is fragmented and competitive with the presence of multiple domestic and international industry players. These players have used assorted strategies to stay at the forefront and also cater to the surging needs of the esteemed customers, such as collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
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