New York, U.S., May 10, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to comprehensive research report by Market Research Future (MRFR), insights into “Mobile Substation Market” by Voltage Type, Mobile Transformer, Power Rating, Application and Region – Forecast to 2030 , the market size is expected to grow at a compound annual growth rate of 5% by 2030.
Mobile substations have many alluring features that will provide strong opportunities for the market over the forecast period. These features include easy installation, flexibility, time saving and cost effectiveness. In addition, these substations are trailer-mounted power solutions due to which they can be installed in limited space and can be moved easily without difficulty.
The Dominant Key Players in Mobile Substation Market Covered are:
- ABB AG (Switzerland)
- Siemens AG (Germany)
- General Electric Company (USA)
- Qingdao TGOOD Electric (China)
- Elgin Power Solutions (USA)
- Meidensha Corporation (Japan)
- Matelec Group (Lebanon)
- Enerset Energy Solutions (Texas)
- EKOSinerji (Turkey)
- WEG (Brazil)
- Atlas Electric Inc (USA)
- Delta Star Inc. (USA)
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Exclusively encompassed USP market:
Growing need for renewable energy supply to drive market growth
Growing need for renewable energy supply coupled with potential growth in the electricity and power industry will drive the growth of the mobile substation market over the forecast period.
Maintenance issues to act as market restriction
Mobile substation maintenance issues may act as a drag on the market during the forecast period as even a small breakdown is likely to lead to serious disruptions.
Lack of awareness to act as market challenge
Lack of awareness regarding mobile substations may pose a challenge for the market during the forecast period.
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Market Segmentation Covered by Research:
The global mobile substation market has been bifurcated based on application, power rating, mobile transformer, and voltage type.
By voltage type, MV will dominate the mobile substation market over the forecast period.
By mobile transformer, distribution transformer will dominate the mobile substation market during the forecast period.
By rated power, 25 MVA-100 MVA will spearhead the mobile substation market during the forecast period.
By applications, energy and utilities will take the lion’s share of the market during the forecast period.
North America leads mobile substation market
North America will lead the global mobile substation market during the forecast period. Due to the huge demand for energy and the growing number of conventional and unconventional power generation plants in North America, the electricity industry is well established. The North American market is also invited to offer innovative and reliable transmission and distribution solutions. The great dependence on reliable power for the economic development of North American countries has created a profitable market for mobile substations. Due to the increasing demand for constant power supply and the growth of transmission and distribution networks in the region, the power supply in North America is expected to increase. These substations are also frequently used to provide reliable and innovative solutions for the transmission and distribution of electricity. In addition, the rise of data centers, ports and an increase in construction activities require the use of a mobile substation.
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In terms of mobile substation needs, North America is expected to remain the top region. Due to the increased demand for energy associated with the rise of conventional and unconventional power plants, the electricity sector in North America has a solid foundation. In North America, mobile station market is also promoted to provide innovative and reliable solution for transmission and distribution. The heavy reliance on stable power supply for the economic development of North American countries has created a profitable market for mobile substations. Due to the large presence of several mobile substation vendors, strong industrialization and strong energy and power market in the region, North America is expected to dominate the global market for mobile substations. mobile substations throughout the forecast period. The demand for reliable and resilient power supplies at metal and mining sites is expected to drive the mobile substation market. After construction is completed, the mobile substation can be easily moved. In addition, mobile substations are needed for construction, data centers and ports. The expansion of the market in the United States is fueled by the increase in demand for electricity and the requirement for a reliable power supply. Along with the utility industry and industrial applications, North America is a major market for mobile substations.
APAC to See Significant Growth in Mobile Substation Market
APAC region will witness significant growth in the mobile substation market over the forecast period. Due to the expansion of coal mining activities in Asia-Pacific, there is a huge demand for mobile substations for mine electrification. Moreover, most of the rural areas of India are not electrified that is why mobile substation can be used to electrify this remote place. The need for electricity in this region has increased significantly due to the growing population and industrial sector in the region. As a result, the need for adequate power transmission and distribution has increased in order to provide uninterrupted power supply. For this, mobile substations can be a cost-effective alternative. Due to population development and the expansion of the industrial sector, the region’s demand for electricity has increased significantly. Therefore, proper power transmission and distribution is now more important than ever to maintain an uninterrupted power supply.
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Impact of COVID-19 on the Global Mobile Substation Market
The ongoing COVID-19 outbreak is disrupting critical processes and industries such as automotive, oil and gas, chemical, power and power, mining, and manufacturing for the foreseeable future. Due to the rapid spread of the virus, governments around the world are imposing strict restrictions on the movement of people and vehicles. Due to the statewide lockdown, the supply chain and production of components, equipment and systems, as well as the supply of raw materials to manufacture the components used in a mobile substation , were disrupted. Overall, the market revenue for the Mobile Emergency Stations Market is constrained by limited manufacturing activities and reduced demand from end-use industries, which will lead to lower growth of the market in the coming years. years. The outbreak of COVID-19 has rendered the whole earth immobile. The current health crisis has had a huge impact on businesses in all sectors. But that too will pass. Increased government and corporate assistance can help fight this highly contagious disease. Some industries are thriving and others are struggling. Almost every industry is predicted to be impacted by the pandemic.
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