Modular Substation Market Size, Share & Industry Analysis, By Installation (Trailer Mounted Fixed Platform), By Insulation (Gas Insulated, Air Insulated), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Application (Utility, Oil and gas, Mining, Others) Others and Regional Forecast, 2025-2032

Substations play a crucial role in the power industry by transferring power from generation sources to customer load. Electrical utilities use them for system protection, switching capabilities, and more importantly, voltage transformations. Today utility companies are looking to increase the capacity of a substation or replace them altogether to meet the growing demand and aging equipment. Modernizing the transmission process is necessary to achieve optimization. A modular substation is a compact substation in which grouping of electrical equipment assembled on a platform or trailer. It comes as a pre-assembled modular unit that offers numerous advantages such as reducing space requirements, improving overall safety, and increasing design flexibility. The ongoing expansion of transmission capacity along with investment in grid infrastructure, may bolster the market.

The modular substation market is segmented based on installation, insulation, and voltage, among others. Installation is further divided into trailer mounted and fixed the platform. Trailer mounted modular substation likely to dominate the installation segment owing to its flexibility and convenience to easily transported to remote locations. Two types of substations are widely used i.e., gas-insulated and air-insulated substation.

Key Market Driver -

Extensive development in transmission capacity and increasing demand for power

Key Market Restraint -

Frequent maintenance and high initial investment

Continuous expansion of transmission capacity to meet the rising demand for power may boost the market. In addition, rapid urbanization and permeating industrialization likely to drive the market. Subsequently, the utility operators are looking for cost-competitive electrical equipment for T&D of power, and modular substation offers a compact design with minimum production cost that may boost the market.

A breakdown in a single component can cause major blackouts, which may hamper the overall system; thus regular maintenance is required that may inhibit the market. The high initial investment required which slows down the market.

Key Players Covered:

The major modular substation players in the market are ABB, Eaton, CG Power and Industrial Solutions Limited, Schneider Electric, GE, TGOOD Global, Ormazabal, VEO Group, Skema S.p.A., Ampcontrol, and USP&E Global, among others.

Regional Analysis:

The global modular substation market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The growth of the modular substation is driven by the expansion of grid infrastructure, investment in micro, and smart grid. Technological advancement has led to increased consumption of electricity which may drive the modular substation. Europe is projected to grow at a moderate rate owing to the adoption of microgrid, smart grid, and renewable energy sources among others. Extension of transmission and distribution networks may bolster the market in Europe.

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Asia Pacific is the most promising region in the world for the growth of the market due to several factors such as emerging economies India and China are incessantly investing in the power sector. The government and private entities are making playing a crucial role in the electrification project. The tremendous development in grid infrastructure and the extension of transmission and distribution lines may boost the market. Oil baron nations in the middle east are continuously striving to increase the production of oil and gas. In addition, the massive demand for district cooling, which requires a massive amount of electricity likely to uplift the demand for a modular substation in MEA.

Segmentation

Key Industry Developments

• In September 2019, VEO acquired TechTeam360 (TT360) a Swedish company specializing in substation deliveries as well as planning and preparation of electrification projects. TT360 has an excellent base for transmission and distribution networks that provides lucrative opportunities to VEO Group.


• In March 2018, TGOOD secured a 252kV modular substation offshore windfarm project in China. The company adopts the prefabricated modular design for more convenient pre-assembly, manufacturing, transportation, onsite installation, and construction.