The mobile substation market is projected to grow at a CAGR of 6.84% to reach US$1,192.187 million by 2023, from US$801.792 million in 2017. Mobile Substation is an autonomous system that has the ability to address a range of contingencies that a utility might face. It ensures temporary supply of energy during the time when the main station requires undergoing maintenance or refurbishment. Similarly, it offers temporary electricity solutions in areas which are affected by natural disasters or events. The focus on providing and ensuring continuous supply of power is significantly driving the mobile substation market. Simultaneously, the growing number of clean energy projects requires smooth integration of the renewable energy in the electric grid and the ability of the mobile substation to ensure effective transition is further supplementing the growth of the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the mobile substation value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the mobile substation market.
Major industry players profiled as part of the report are ABB, General Electric, Siemens AG, and Eaton among others.
The mobile substation market has been analyzed through following segments:
Protection and Control Equipment
Other Auxiliary Systems
By Industry Vertical
Oil & Gas
Energy & Power
Middle East and Africa