New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- As per a study conducted by Persistence Market Research, the global E-House market is anticipated to secure a market value of US$ 1.82 Billion in 2022 and is expected to accumulate a market value of US$ 3.31 Billion by registering a CAGR of 6.2% in the forecast period 2022-2032. Growth of the E-House market can be attributed to the installation of power grids, where e-house is widely used for integrated power supply applications. The market for E-House registered a CAGR of 3.2% in the historical period 2017-2021.
Factors such as flexibility, the ease of installation, and cost-effectiveness of e-house are anticipated to augment the growth of the e-house market over the analysis period. It can be easily installed in a small space owing to its simple foundation. It is extensively utilized in both industrial and utility applications for several benefits. In addition, the rapid expansion of transmission capacity, planned maintenance, as well as disaster response are some of the major applications where e-houses are deployed. These are also used during unplanned repairs to provide temporary power supply.
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Furthermore, the exploitation of shale reserve has led to an increase in demand for energy and power services. According to IEA, the global gas demand is expected to grow by 1.6% a year for the next five years, with consumption reaching almost 4,000 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016. China will account for 40% of this growth. Hence, the upstream segment is expected to be one of the largest segments for the e-house market.
Traditionally, players in the oil and gas industry obtain their switchgear, drives, and automation systems from multiple electrical equipment suppliers and obtain their electrical houses through fabricators. But the demand to reduce risk, costs, and delivery time has steered the industry away from this practice, and the part of CAPEX in the upstream sector is contributed to the e-house.
Key Takeaways from the Market Study
- By voltage type, medium segment is expected to possess 31.1% market share for E-House market.
- By type, Mobile Substations segment is expected to register considerable revenue in 2022 and is expected to depict a growth rate of nearly 6.1% through 2032.
- The Middle East & Africa E-House market is poised to register a growth rate of 6.1% through 2032
- North America is expected to possess a CAGR of 6.0% for E-House in 2022.
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The prominent companies partaking in the global E-House market share include Electroinnova, WEG, TGOOD, Powell Industries, Elgin Power Solutions, Meidensha, Matelec Group, Aktif Group, PME Power Solutions, EKOS Group, Efacec, Delta Star, Siemens, ABB, Schneider Electric, Eaton, General Electric, CG Power, and Meidensha, among others. These firms are adopting strategies such as partnerships, joint ventures, and product line expansions to enhance their presence in the global market.
- In June 2020, TGOOD signed a complex mining project with ABB Switzerland Ltd as a supplier. The project involves the delivery of more than 50 * TGOOD prefabricated E-Houses with patented designs to a remote location where temperatures can reach -58°.
- In February 2020, GE Power successfully delivered an e-house and VSDS to the petrochemical facility under Shell Nederland Chemie B.V. supervision. High-speed induction motors and variable speed drives are combined in GE’s VSDS, which progressively improves the compressor train’s energy efficiency to over 90%.
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