New York, NY, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “E-House Market by Product (Skid and Mobile Substation), by Voltage (Medium Voltage and Low Voltage), and by Application Area (Oil & Gas, Mining, Utilities, Chemicals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global E-House market accounted for USD 982.6 million in 2017 and is expected to reach USD 1,545.1 million globally by 2024, at a CAGR of around 6.9% between 2018 and 2024.
E-house is a power station that is used in a remote location where it is difficult to provide a power supply. E-houses distribute power according to the requirements. They are used in various sectors such as oil & gas, mining, chemicals, utilities, and many more. These powerhouses consist of switchgear, transformers, power management systems, bus bars, and other components to distribute power.
Browse through 81 Tables & 25 Figures spread over 158 Pages and in-depth TOC on “Global Dental Equipment and Consumables Market by Type, Size, Industry Share, Analysis and Forecast, 2017 - 2024”.
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Increasing usage of the product in the utility sector is fueling the growth of the e-house market. Investment in this sector is increasing the demand for e-house. In 2015, USD 724 billion investments were made globally in the electricity sector. Further, in 2016, the average number of customers served by the electric power industry in the U.S. was more than 150 million, witnessing an upsurge of 0.9% as that of 2015. It is estimated that the total capability of the electric power industry in the U.S. will increase by 20% from 2017 to 2040. Thus, the utility sector is proving to be a major contributor to the growth of the e-house market.
Increasing production in the chemical industry is expected to contribute substantially to the e-house market during the estimated timeframe. Global chemical production is expected to grow by 3.4% in 2018 from 2017 with China being the major contributor. In 2016, the Chinese chemical industry generated USD 1.64 trillion at a CAGR of 9.4% from 2012. Further, the U.S. chemical industry is projected to generate revenue of USD 1 trillion by 2020. Thus, it is anticipated that the growth in the chemical sector will propel the e-house market in the near future.
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Oil & gas, mining, utilities, chemicals, and others are the major application areas for the e-house market. Oil & gas segment is expected to hold a remarkable share in the e-house market during the forecast period. The share is attributed to the massive production in the sector as compared to the other sectors. Further, the e-house market is segmented on the basis of voltage into a medium voltage and low voltage. Medium voltage segment is anticipated to grow at a substantial rate during the estimated period.
North America is expected to hold a substantial share in terms of revenue in the global e-house market. The share is attributed to the increasing mining activities in the U.S., and it is one of the top leading producers of coal. Coal production in the U.S. contributes to almost 17% of the global coal production. The U.S. is a leading producer of gold and copper. In 2017, mines in the U.S. generated about USD 75.2 billion, about 6% more than 2016. Thus, rising production in the mining sector will contribute to the growth of e-house market over the forecast period.
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The European e-house market is majorly driven by the growth of chemical sector. In 2016, the European chemical sector was ranked second in terms of overall sales and had about 17.8% of the global output. European chemical sales in 2015 were about USD 775.4 billion as that of USD 753.3 billion in 2014. The European chemical industry witnessed a CAGR of about 3% from 2010 to 2015. Further, in 2016, the chemical industry in Germany generated sales of about USD 168.35 billion. Thus, the UK and Germany are expected to make a notable contribution in the European e-house market.
The Asia Pacific is anticipated to grow at a significant rate during the estimated timeframe in the global e-house market. Developing economy such as India has great potential for e-house market. The utilities sector is expected to fuel the growth of e-house market in the region. The electricity production in India registered a CAGR of 5.69% from 2010 to 2018. In 2018, India was ranked among the top 4 countries in the Asia Pacific on the basis of overall power generation. From 2000 to 2017, the power industry in India had about USD 12.97 billion foreign direct investments. The number is anticipated to increase during the forecast period. Thus, the growth of e-house in the Asia Pacific is still imminent.
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The Middle East is projected to be one of the most attractive regional markets for e-house in the coming years. This is due to the rising investments in the oil & gas sector. According to the Arab Petroleum Investments Corporation (APICORP), about USD 1 trillion of energy projects will take place in the Middle East over the next five years. The Middle East is the largest oil producer and the second largest gas producer in the world. The region’s energy consumption is expected to increase by about 54% and is projected to have a share of 34% in production until 2040. Thus, the e-house market is estimated to grow at a significant rate in the region.
Some of the major participants in the global e-house market are Siemens AG, ABB, General Electric, Schneider Electric SE, Meidensha Corporation, Eaton Corporation, CG Power, WEG Industries, Powell Industries Inc. and TGOOD Global Ltd., among others.
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The global e-house market is segmented as follows:
Global E-House Market: Product Segment Analysis
- Skid
- Mobile Substation
Global E-House Market: Voltage Segment Analysis
- Medium Voltage
- Low Voltage
Global E-House Market: Application Area Segment Analysis
- Oil & Gas
- Mining
- Utilities
- Chemicals
- Others
Global E-House Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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