By 2028, Global Demand for package substation Market Will Surpass USD 23.77 Billion at 9.49% CAGR Growth: Says Vantage Market Research

Pune, INDIA


WASHINGTON, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The unit & package substation is a consolidation of the ring main unit, the low-voltage panel, and the transformer. A unit substation is a combination of a Low Voltage panel and a Transformer. These substations are then used for efficient electrical power distribution in low voltage to medium voltage distribution systems. Factors such as rising power generation capacity globally, rising demand for refurbishing/ replacing of aging substation infrastructure, and growing electricity demand, especially, in emerging nations such as India and China, due to rapidly growing infrastructural and industrial development activities, are likely to drive the market, states Vantage Market Research, in a report, titled “Package Substation Market Size, Share & COVID-19 Impact Analysis, By Voltage Split (Below 36kV and Above 36kV to 150kV), By Application (Industrial, Infrastructure, Power Utilities & Generation, and Others) and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).” 

The market size stood at USD 11.51 billion in 2020. The global package substation market size is expected to reach USD 23.77 billion by 2028, exhibiting a CAGR of 9.49% during the forecast period.

Click Here To Access The Free Sample Report @ https://www.vantagemarketresearch.com/package-substation-market-1086/request-sample

(The Free Sample Of This Report Is Readily Available On Request).

Our Free Sample Reports Includes:

  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
  • Impact Analysis 150+ Pages Research Report (Including latest research)
  • Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

Market Overview:

Rising Electrical Circuit Failure & Insufficient Required Voltage for Operating Electrical Appliances is Expected to Generate the Revenue for Package Substation Market.

Package substations are very important equipment in today’s industrial world. The main purpose of package substation is to control special machinery, low voltage electric circuits and smooth running of electronic apparatus. The substations are usually also used to convert Alternate Currents (AC) to Direct Currents (DC). Various types of package substation are used for various purposes such as mobile substation is perfect solution for providing interim grid connections and temporary power supplies. Due to these factors it is expected that the package substation market will boost in coming years.

The advantage of Substation is an intermediate between high voltage transmission and distribution to lower down voltage to meet customer requirements. For example one cannot use electricity directly form 11 KV power line or 33 KV power line. In order to use energy from these lines it is necessary to get power through substation from these lines. Therefore it is required to install a package or mobile substation.

The COVID-19 outbreak has affected various industries worldwide. The pandemic has affected most countries in the world, with severe impacts on the global economy and the electrical manufacturing and sales sector. The package substation manufacturing industry also had a huge impact due to shutdown of industries. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Region 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

Important questions answered in this report:

  • What is the estimated market size and growth rate of the Package Substation Market?
  • Which segments are included in the Package Substation Market?
  • Which top companies are active in the Package Substation Market?
  • What are the major driving factors for the growth of the Package Substation Market?
  • How can I get free sample reports or study of Package Substation Market?

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/package-substation-market-1086

The report on Package Substation Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Value Chain Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Porter’s Five Forces Analysis
  • Global and Regional Dynamics

Advantages of this Research:

  • Evaluate market share for commercial Package Substation market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
  • Develop tactics and strategies to take advantage of opportunities in the Package Substation market.
  • Latest Trends and Market Events and analyze essential events in Package Substation market.   
  • Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
  • Answer vital business questions; supports decision making in R&D to long term marketing strategies
  • Develop economic models, forecast models, and healthcare frameworks.

Regional Analysis:

Asia Pacific to Dominate Package Substation Market

The emerging economies of Asia Pacific such as India, China, Indonesia, and Thailand are expected to fuel the growth of the Package Substation Market. Increase in industrialization and urban population has led to high demand of electricity. Countries such as India and China require huge amount of energy but in a useable form and this can be achieved by using equipment such as mobile or package substation where high voltage can be converted to low voltage and can be used to run appliance, machines and lighting.

Middle East and Africa, Europe and North America will also show rapid development on the package substation market as these regions are well developed and increase industrialization.

List of Prominent Players in the Package Substation Market:        

Sr. No.CompaniesHEADQUARTERS
1.General Electric CompanyMassachusetts, U.S.
2.Eaton Corporation PLCDublin, Ireland
3.Schneider Electric SERueil-Malmaison, France
4.Larsen & Toubro Limited.Maharashtra, India
5.Kirloskar Electric Company Ltd.Delhi, India
6.Esennar TransformersTelangana, India
7.Sudhir PowerSilvassa, India

Recent Developments in the Industry:

In May 2017 - Siemens started the design, engineering, supply, installation, and commissioning of substations for the 400-kilovolt (Kw), 220Kv, 132Kv, 66Kv, and 11Kv voltage levels, including gas-insulated switchgear, transformers, and control and protection equipment.        

In January 2020 - SIEMEN’s invested in Sudhir’s product and services made them earn another project named Sonadihh Cement Plant, Chhatisgarh. Sudhir executes complete designing, engineering, manufacturing, supply and supervision of services of erection & commissioning of 4 nos. 2500 kVA & 3 nos. 2000 kVA oil type transformers.

Browse market data Tables and Figures spread through Pages and in-depth TOC on "Package Substation Market by Voltage (High, Medium, Low), by Application (Power Utilities, Commercial and Industrial, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/package-substation-market-797273

This market titled “Package Substation Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

Report AttributeDetails
Market Size 2020 ValueUSD 11.51 Billion
Market Forecast for 2028USD 23.77 Billion
Expected CAGR GrowthCAGR of 9.49% from 2021 to 2028
Base Year2020
Historic Years2016 – 2019
Forecast Years2021 – 2028
Segments Covered
  • Voltage Split
    • Below 36kV
    • Above 36kV to 150kV
  • Application
    • Industrial
    • Infrastructure
    • Power Utilities & Generation
    • Others
Quantitative Data - UnitsRevenue in USD Billion/Billion and CAGR from 2021 to 2028
Regions CoveredNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries CoveredU.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Request Customized Copy of Report @ https://www.vantagemarketresearch.com/package-substation-market-1086/customization-request

(We customize your report according to your research need. Ask our sales team for report customization.)

Browse More Related Report:

About Vantage Market Research:

Vantage Market Research is a reputed company committed to providing high quality data and market research services. The company provides quantified B2B high quality research on more than 20,000 emerging markets. The company offers detailed reports on multiple industries including chemical materials and energy, food and beverages, healthcare, technology, etc. The company comprises over 125 analysts and consultants, adding more than 1,100 market research reports to its vast database every year. The company’s clientele base spans across 70% of the Global Fortune 500 companies.

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website: https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases @ https://www.vantagemarketresearch.com/insight/press-releases

Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs