The mobile substation market is expected to grow from
an estimated USD 789.3 Million in 2018 to USD 1,136.9 Million by 2023,
at a CAGR of 7.57% between 2018 and 2023.
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Factors driving the growth of
this market include the ease of transportation, flexibility,
cost-effectiveness, and easy installation of mobile substations.
Moreover, mobile substation is a trailer mounted power solution and can
be installed in a limited space and can be easily relocated without
difficulty. The mobile substation is a comprehensive solution that is
designed, engineered, assembled on trailer, tested, in a factory and
delivered on site for power distribution.
Mobile substations are useful for emergency response
as back-up units and can also be useful in cases where energy
distribution requires to be provided or reinstated in a short span of
time. Mobile substation market is fragmented, with the presence of many
small and mid-size companies which supply products for utilities
applications and primarily serve local markets. Transportability, short
startup and commissioning time, reduced mechanical footprint, and
non-requirement of construction work are some of the key benefits
expected to drive the growth of mobile substations during the forecast
period.
Mobile substations are utilized both, in utilities
and industrial applications. Planned maintenance, disaster response,
rapid expansion of transmission capacity are some uses wherein the
mobile substation has delivered proven outcome for utilities. The mobile
substation is proven to be an apt solution to provide temporary power
supply during unplanned repairs. Moreover, during planned maintenance,
mobile substations can reduce or even eliminate the need for extended
electricity outages. Thus the utilities application is expected to grow
during the forecast period.
Middle East & Africa not only account for the
largest market share followed by the Americas, but is also expected to
grow at the highest CAGR during the forecast period. Middle East &
Africa regions are rich in natural resources, such as oil & gas and
metals & mining. Africa is an untapped market for the energy
resources. However, countries from these regions, such as Iraq, Algeria,
Nigeria have faced many political and social instabilities which have
destroyed infrastructure. As a result, these countries have a high
demand for energy & power. Due to improvements in situations,
governments from these regions are trying to reinstall basic amenities.
The Ministry of Electricity of Iraq has ordered mobile substations from
various manufacturers, such as Siemens (Germany), Meidensha (Japan), CG
Power (India), and Aktif (Turkey).
Key players in this market, such as Siemens
(Germany), ABB (Switzerland), Eaton (Ireland), General Electric (US), CG
Power (India), and MEIDENSHA (Japan) are focusing on inorganic
strategies, such as contracts to enhance their product offerings and
expand their businesses.
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