"Actionable Insights to Fuel Your Growth"
In the last couple of decades, the world has seen some of the most awaited innovation in the field of information and communication technology, which has greatly impacted globalization. Incessant investment by renowned companies in research and development may create lucrative opportunities in many industry verticals. However, a lack of sufficient grid infrastructure may lag the market growth. A packaged substation is an essential device in the electrical power distribution system. It is a combination of electrical components such as medium and low voltage switchgear and transformer enclosed in a compact enclosure. It is an integral part of the power distribution network system from generation to distribution to end-user in the power industry. In the modern era, space constraint is the biggest problem in growing urbanization. Packaged substations are highly efficient in delivering power with minimum distribution losses. It can be installed with minimum space utilization in sophisticated infrastructure. It not only helps to optimize the overall cost of the substation by reducing overall procurement complexities but also mitigates the damage caused by short circuits. Thus in remote underground mining and oil & gas location, it can offer high efficiency. Therefore, the growing investment in mining, exploration and production activities and increasing power demand may leverage the market.
Packaged substation market segmented based on type and application. Type is further divided into below 36kV and 36-150kV. 36kV type packaged substation will dominate the market owing to the expansion of the power sector and investment in grid infrastructure. Packaged substations used in power, oil & gas, mining, infrastructure, and others. Power segmented will lead the market to the owing requirement of an uninterrupted power supply.
Key Market Driver -
Growing exploration and production in mining as well as oil & gas sector
Key Market Restraint -
High initial investment
The inflating demand for oil & gas besides metals & minerals has enormously increased exploration and production activities, which require a reliable power supply. Packaged substation offers an uninterrupted power supply with minimum distribution loss that may boost the market. In addition, the rising demand for compact substation which can be transported easily in remoted located likely to bolster the market.
High initial investment and regular maintenance required to avoid damages to costly equipment such as transformer and substation that may hinder the growth of the packaged substation market.
Some of the major conglomerates for the packaged substation market are Schneider Electric, Alfanar, Lucy Electric, Tepco-Group, C&S Electric Ltd., E+I Engineering, Al Asry Electric Co. Ltd., Sudhir Power Ltd., Matelec, Eaton, Anord Mardix, and Faremco among others.
The global packaged substation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Rising exploration and production activities in the U.S. and recent shale gas revolution has spurred the demand for uninterrupted power supply. Several companies are opting for packaged substations for reliable operation and continuous power supply that may uplift the market in North America. Europe is highly penetrating owing to the adoption of fo smart and microgrid along with rising renewable energy sources. Increasing investment in microgrid and smart technology to improve the power distribution network and replacement of the aging grid infrastructure is likely to augment the market.
To gain extensive insights into the market, Request for Customization
The Asia Pacific is one of the most favorable regions for the growth of the packaged substation market. India and China are unwaveringly trying to expand transmission and distribution networks. The Indian government recently launched the “Saubhagya Scheme” aiming for full electrification that may drive the market. Oil baron nations in the Middle East are extensively investing in exploration and production activities to meet the rising demand for hydrocarbon. Simultaneously, the African countries are inclined towards mining activities that require an uninterrupted and reliable power supply. Thus many companies picking packaged substations to meet their requirements that may multiply the growth of the market.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry