Dublin, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The "Mobile Substation - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Mobile Substation is estimated at US$1.6 Billion in 2023 and is projected to reach US$2.6 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the mobile substation market is driven by several factors. Technological advancements, particularly in digital control systems and high-efficiency transformers, have significantly enhanced the performance and reliability of mobile substations, making them more attractive to utility companies and industrial users.
The increasing frequency and severity of natural disasters, along with the need for rapid disaster response and recovery, have elevated the demand for mobile substations as critical infrastructure components. Rise in power outages due to the inability of aging grids and legacy T&D infrastructure to cater to surging demand for reliable and uninterrupted power represents the major demand driver for mobile substations market. The rising need for maintenance and upgrading of aging power infrastructure in many regions has fueled the market, as mobile substations provide a temporary power solution that minimizes service interruptions.
The expansion of renewable energy projects and the integration of distributed energy resources also contribute to market growth, as mobile substations are often used to facilitate the connection of new renewable energy installations to the grid. Furthermore, the global trend towards grid modernization and the adoption of smart grid technologies have spurred investments in mobile substations, recognizing their role in enhancing grid resilience and flexibility. These factors collectively drive the robust expansion of the mobile substation market, ensuring continued innovation and widespread adoption.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Transformer segment, which is expected to reach US$1.4 Billion by 2030 with a CAGR of a 7.2%. The Switchgear segment is also set to grow at 6.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $155.5 Million in 2023, and China, forecasted to grow at an impressive 7.1% CAGR to reach $39.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., General Electric Company, Bharat Heavy Electricals Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 325 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2030 | $2.6 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- An Introduction to Electrical Houses
- Mobile Substation: A Prelude
- Features and Applications of Mobile Substation
- Mobile Transformer: Key to Substation
- Market Overview and Outlook
- Regional Analysis: Middle East & Africa Represents the Largest Region
- Competitive Scenario
- Portable Power Solutions: Leading Companies Show the Way through Innovations
- Recent Market Activity
- Mobile Substation - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Frequency of Power Outages Drives Demand
- Value Lost Due to Electrical Outages as a % of Sales of Affected Firms
- Weather-related Power Outages Become More Rampant
- Technology Advancements Give Impetus to Market Expansion
- Eco-friendly, Mobile Substations from Siemens
- Established Use in Construction Site Electrification Programs
- Oil & Gas Sector: Prominent Consumer of Mobile Substations
- Robust Opportunities in Utilities Sector
- Mobile Substations Gain Traction in Metals & Mining Industry
- World Metals & Mining Industry by Material Category: A Snapshot
- Relevance in Disaster Response Operations
- Growing Opportunities in Renewables Sector
- Convenience of Mobile Substation in Railway & Urban Transport Electrification
FOCUS ON SELECT PLAYERS (Total 48 Featured)
- ABB Ltd.
- General Electric Company
- Bharat Heavy Electricals Ltd.
- CID Associates, Inc.
- Elgin Equipment Group
- CG Power and Industrial Solutions Ltd.
- Aktif Group of Companies
- American Modular Power Solutions, Inc.
- Creative Distribution Automation Co., Ltd.
- EKOSinerji Elektrik San. ve Tic. A.S.
- Electroinnova Instalaciones y Mantenimientos S.L.
- Elgin Power Solutions
- KEAS Control Systems India Pvt., Ltd.
- Acoustics India Private Limited
- Atlas Electric, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/37x42n
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