• 出版社/出版日：Mordor Intelligence / 2020年6月30日
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The global modular substation market is expected to grow at a CAGR of over 5% during the forecast period. Factors such as increasing power generation capacity plan across the world, growing demand for replacing/refurbishing of aging substation infrastructure, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities, are expected to drive the market during the forecast period. Moreover, modular substations offer saving space and lowering installation time while enhancing safety and aesthetics, which are expected to bolster the growth of the market. However, delay in the implementation of electrification projects globally and high cost associated with modular substation, the growth of the market is likely to be hampered.
Utility segment is expected to hold the maximum share in the global modular substation market and be the largest segment during the forecast period. Many developing countries are expected to upgrade their power distribution sector, which is further expected to bolster the utility segment of the modular substation market.
Rising electrification projects in Africa and Asia-Pacific countries, with several initiatives signaling that significant improvements are underway in the regions to improve the transmission and distribution network, is expected to create ample opportunities for the modular substation market players.
Asia-Pacific is expected to be the largest market and fastest growing market, owing to one-third of the world’s population currently residing in India and China, with the two countries accounting for major share of global electricity demand.
Key Market Trends
Utilities Segment to Dominate the Market
Power utilities are expected to increase the demand for substation automation market, owing to factors like rising in electricity demand globally, high demand for smart grids, and increasing need for upgradation of the existing transmission and distribution networks. Furthermore, power generation companies are looking for cost-saving opportunities provided by the application of modular substations.
Moreover, the increased need to reduce transmission and distribution loss is also fuelling the growth of the modular substation market. In addition, the need to reduce outrage time by real-time monitoring of faults and using automated systems to resume services is also boosting the growth of the utility segment.
Moreover, the modular substation segment is expected to witness significant demand over the forecast period, due to the rapid improvement in the power distribution sector through the implementation of smart grid and smart meter technology.
Countries in the Middle-East and African region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of distribution power grids, which increases the growth prospects of the modular substation market segment.
Therefore, with increasing urbanization and industrialization across the developing economies, the demand for modular substation is expected to witness significant growth during the forecast period.
Asia-pacific to Dominate the Market
Asia-Pacific is expected to be the largest and the fastest-growing region, due to the increasing power generation capacity plans, growing demand for replacing/refurbishing of aging transmission and distribution networks, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities.
China has witnessed high rates of demand for electricity, owing to the unprecedented growth of the economy, coupled with factors, such as rapid industrialization and urbanization electricity. The robust economic growth in China reached nearly 7%, and the gross electricity consumption grew by 6.6%, exceeding 6,000 TWh, for the first time in 2017.
Utilities and governments in China are developing new generation projects, particularly renewable energy ones, to meet the rising electricity demand. This is likely to require power infrastructure to accommodate these projects, which is expected to drive the growth of the modular substation market in the country.
With Australia’s ageing electricity infrastructure nearing the end of its lifespan, it has become crucial to refurbish/ renovate electricity distribution network for increasing renewable energy generation. Moreover, the country has been taking initiatives to modernize its energy infrastructure, for which, the government invests nearly USD 5 billion each year into the transmission distribution network.
Furthermore, the Indian government plans to invest further in strengthening the electrical network, to build a strong and smart grid, and this, in turn, is expected to supplement the demand for modular substation in the country.
The modular substation market is moderately fragmented. Some of the key players are ABB Ltd, Siemens AG, Eaton Corporation PLC, General Electric Company, and CG Power and Industrial Solutions Ltd.
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1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter’s Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Insulating Medium
5.4.1 North America
5.4.4 South America
5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd
6.3.2 Eaton Corporation PLC
6.3.3 Siemens AG
6.3.4 CG Power and Industrial Solutions Ltd
6.3.5 General Electric Company
6.3.6 Schneider Electric SE
6.3.7 Ampcontrol Ltd
6.3.8 TGOOD Global Ltd.
6.3.9 LS Electric Co. Ltd
6.3.10 SKEMA S.p.A.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS