Mobile Substation Market Expected to Generate Revenue
Jersey City, New Jersey, Sept. 12, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “Mobile Substation Market” By component (switchgear, transformer, arresters, trailer), by application (utility and industrial) and by geography.
Verified Market Research conducted a high quality study which revealed that the global Mobile Substation market size was valued at USD 3.3 Billion in 2020 and is projected to reach USD 13.09 Billion by 2028, with growth at a CAGR of 20.6% from 2021 to 2028. .
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Browse the table of contents in depth on “Mobile Substation Market”
202 – Pages
126 – Tables
37 – Numbers
Global Mobile Substation Market Overview
Mobile Substations are compact, portable, integrated power modules that provide surge-free AC and DC power for added capacity, backup in emergencies, or in incompatible terrain for construction. Higher power demand, rapid expansion of transmission capabilities, faster commissioning, hassle-free installation and relocation, minimal configuration involving no elaborate construction, compact size, improved portability of modules to required areas and overall cost savings are fueling the demand for mobile substations as alternative power plants. Mobile substations are used in utility and industrial applications. The focus on providing and ensuring a continuous supply of power is driving the expansion of the mobile substation market significantly.
Simultaneously, the growing number of clean energy projects requires seamless integration of renewables into the power grid, and the mobile substation’s ability to transition efficiently increases the demand for these substations. Consisting of the ability to recover as quickly as possible from major weather events and natural disasters, it provides economic and public health and safety benefits to businesses and local communities. Moreover, the increase in demand for electricity coupled with the continued and expanded growth of the share of renewable energy in centralized and decentralized networks requires a new efficient and effective approach to managing the transition, making full use of the sub -mobile stations, thus stimulating demand for mobile. substation during the forecast period.
- April 2019: Serbia’s electricity utility Elektroprivreda Srbije (EPS) received a donation of four mobile substations from the EU. This mobile substation will improve responses to emergencies such as floods and forest fires.
The main market players are ABB, Siemens, Eaton, General Electric, CG Power, WEG, TGood, Powell Industries, Elgin Power Solutions, Matelec Group and Meidensha.
Verified Market Research has segmented the global mobile substation market on the basis of components, applications, and geography.
- Mobile Substation Market, By Component
- Surge arresters
- Other auxiliary systems
- Mobile Substation Market, By Application
- petroleum gas
- Metals and Mining
·Mobile Substation Market, By Geography
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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