The increased urbanization, industrialization, outdated energy infrastructure, and minimal space requirements are the factors expected to drive the global skid mounted substations market. Outdated power generation and distribution infrastructures are the biggest challenges utilities face today. The failure of the energy infrastructure creates enormous costs for utilities and grid operators. Outdated infrastructure poses the greatest threat to the US energy supply and needs to be replaced and upgraded. Therefore, a reliable power supply requires skid-mounted substations and other equipment. They also save space and are useful for upgrading electrical infrastructure where space is limited. These factors are expected to drive the global skid-mounted substation market.
MARKET SCOPE
The "Global Skid Mounted Unit Substations Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the skid mounted unit substations market with detailed market segmentation by voltage, application, and geography. The global skid mounted unit substations market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading skid mounted unit substations market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global skid mounted unit substations market is segmented by voltage, and application.
- Based on voltage, the market is segmented into 11 kV-33 kV, 33 kV-400 kV, Above 400 kV.
- On the basis of application, the market is segmented into Power Utilities, Industrial, Commercial, and Others
MARKET DYNAMICS
Drivers:
- -
- Increased urbanization and industrialization in emerging economies are driving the market growth.
- The increase in electricity production and consumption fuels market growth.
- However, innovations in the substation automation market are expected to hinder the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The global adverse impact of the coronavirus is already evident and had a major impact on the skid-mounted unit substation market in 2020. The World Health Organization declared a public health emergency following the outbreak of the COVID-19 virus in December 2019. The disease has spread to more than 100 countries and resulted in mass deaths worldwide. Exports and imports, global manufacturing, tourism, and the financial sector have all been badly damaged. The downward pressure on the global economy intensified again, which had previously shown signs of improvement. The virus outbreak has added new danger factors to the already slow development of the global economy. Many international groups have declared that the world economy is going through its most difficult moment since the financial crisis. Since the pandemic, import and export restriction has severely affected the skid-mounted unit substation market as consumer consumption, and demand patterns are changing amid the pandemic.
MARKET PLAYERS
The reports cover key developments in the skid mounted unit substations market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from skid mounted unit substations market are anticipated to lucrative growth opportunities in the future with the rising demand for skid mounted unit substations in the global market. Below mentioned is the list of few companies engaged in the skid mounted unit substations market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the skid mounted unit substations market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- TEPCO
- Kirloskar Electric Company
- Schneider Electric SE
- ABB Ltd
- C and S Electric
- Lucy Electric
- Eaton Corporation
- Siemens AG
- GE