Packaged Substation Global Market Report 2023

Aug 04, 2023

Major players in the packaged substation market are ABB Ltd., Schneider Electric SA, Eaton Corporation, Siemens AG, Larsen and Toubro Limited, General Electric Company , Lucy Electric, Toshiba Corporation, Tepco Group, C and S Electric Limited, E + I Engineering, AI Asry Electric Co.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Packaged Substation Global Market Report 2023" - https://www.reportlinker.com/p06479733/?utm_source=GNW Ltd., Sudhir Power Ltd., Matelec Group, Anord Mardix Inc., Faremco International, Alstom SA, and CG Power and Industrial Solutions Ltd.The global packaged substation market is expected to grow from $14.66 billion in 2022 to $16.16 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The packaged substation market is expected to reach $22.78 billion in 2027 at a CAGR of 9%.The packaged substations market consists of sales of transformers, switchyards, step-down transformers, and customer substations.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.A packaged substation refers to a prefabricated modular assembly of electrical distribution equipment designed for a specific power distribution application.A package substation’s primary function is to transfer power from the DNO (distribution network operator) into a building’s LV distribution system.A package substation typically requires at least one high-voltage feed, typically about 11 kV.Asia-Pacific was the largest region in the packaged substations market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in packaged substations report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of packaged substations are indoor packaged substations and outdoor packaged substations.An indoor packaged substation refers to a substation style where the equipment is installed inside the structure used to distribute high-voltage power to various electrical loads in a building or facility.They are used by voltage, including high, medium, and low, in various applications such as mining, power, oil and gas, infrastructure, and others.An increase in power demand is expected to propel the growth of the packaged substation market going forward.Power refers to the energy transfer or conversion rate expressed in units of time.A packed substation’s primary function is to provide electrical power at various voltage levels for use in a variety of applications, including those in the residential, commercial, and industrial sectors.For instance, in February 2023, according to the International Energy Agency, a France-based intergovernmental organization, the forecasted increase in worldwide power generation increased from 29% in 2022 to 35% in 2025.Over the following three years, it is anticipated that the rise in the global demand for energy will pick up to an average of 3%. Therefore, an increase in power demand is driving the growth of the packaged substation market.Product innovation is the key trend gaining popularity in the packaged substation market.Companies operating in the packaged substation market are introducing innovative products to sustain their position in the market.For instance, in April 2022, TP Southern Odisha Distribution Limited (TPSODL), an Indian-based power distribution company, launched a mobile compact substation.A distribution transformer, high- and low-tension protective devices, and other equipment mounted on a mobile trolley make up the mobile substation.In addition to the time required for travel, the plug-in-type mobile compact substation requires around 1.5 hours to set up. When an existing transformer fails or when large institutions like hospitals, water supply systems, or cyclones and storms are in need of emergency services, it is used to immediately restore power to clients.In March 2020, Valmont Utility Services, a US-based global leader in engineering and innovation, acquired Kansas City Utility Packaging (KCUP) for an undisclosed amount.With the acquisition, Valmont aims to improve its supply chain and increase the range of goods and services in the sector.This acquisition enables Valmont to integrate the substation engineering, design, and packaging capabilities of Kansas City Utility with the steel structural design and outputs of Valmont Utility. Kansas City Utility Packaging (KCUP) is a US-based provider of substation, transmission line, procurement, and packaging services.The countries covered in the packaged substations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The packaged substation market research report is one of a series of new reports that provides packaged substation market statistics, including global market size, regional shares, competitors with a packaged substation market share, detailed packaged substation market segments, market trends and opportunities, and any further data you may need to thrive in the packaged substation industry. This packaged substation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479733/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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