About Electrical Substation
An Electrical substation is termed as a part of an electrical generation, transmission system, and distribution system. Electric Substations basically transforms the voltage from high to low, or also the reverse, and perform many of the several other important functions. The main purpose of a substation is to step down the high voltage electricity from the transmission system to the lower voltage electricity so that it can be easily supplied to businesses and homes through the distribution lines. The market of the electrical substation is rising due to the growing demand for the power, a considerable increase in the transmission network & distribution network, also the lucrative market growth in Middle East & Africa and easy installation of the mobile substations are some of the key factors which are favouring for the market growth
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), ABB (Switzerland), Eaton (Ireland), CG Power (India), Toshiba Corporation (Japan), Cisco Systems (United States), AZZ (United States), Matelec Group (Lebanon), PME Power Solutions (India) and Larsen & Toubro Limited (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are MEIDENSHA (Japan), WEG (Brazil) and NR Electric (China).
Segmentation Overview
AMA Research has segmented the market of Global Electrical Substation market by Type (Transmission Substation and Distribution Substation), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Electrical Substation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. Up to 220 kV will boost the Electrical Substation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Electrical Substation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in generation technology has been changing for electrical substation
Market Growth Drivers:
Increasing Investments (Contracts) From the Government and Rising demand for urbanization and industrialization
Challenges:
Harsh Environmental Conditions
Restraints:
Increasing Cost of Installations
Opportunities:
Growing Demand for Renewable Energy Projects
Market Leaders and their expansionary development strategies
In December 2023, Blackstone announced that private equity funds affiliated with Blackstone have closed the acquisition of Power Grid Components, Inc. (PGC) from Shorehill Capital LLC.
In February 2019, Siemens has completed building and connecting the extension of Toshka electrical substation, southern Egypt, after three months of work. The new extension paves the way for the implementation of the Egypt-Sudan electric interconnection project. The new 220 kv air-insulated substation (AIS) will dispatch around 400MW of electricity to secure reliable power transmission coupled with minimal losses of transferred power
Key Target Audience
Electrical Substation Industry Investors, Electrical Substation Providers/Vendors, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Product Suppliers/ Buyers, Research Institutes, Original Equipment Manufacturer, Component Supplier, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.