Emergency Mobile Substation Market Trend Shows a Rapid Growth, Competitive Analysis, Future Prospects And Forecast 2027

Rising Number of Utilities across Globe Would Support Market Growth during Forecast Period

The emergency mobile substation market was valued at US$ 910.00 million in 2019 and is projected to reach US$ 1,465.34 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.

Substations play a significant role in the transmission and distribution of electrical power across the grid. Mobile substations are used in case of any power outage in the transmission and distribution of electrical power. Companies such as General Electric offer mobile substations that help end user in off-line events, and maintain grid safety and functionality. The mobile substation is prefabricated, preassembled, and pre-commissioned with a compact design; therefore, it can be transported and installed in minimal time and on-site work. Customers can use mobile substation without investing in its procurement and maintenance as these substations are generally available on lease.

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Top Key Players:-

1. AZZ Inc.
2. Eaton Corporation PLC
3. General Electric Company
4. Siemens AG
5. MEIDENSHA CORPORATION
6. NARI Group Corporation
7. Powell Industries, Inc.
8. TGOOD Global Ltd.
9. WEG Electric Corp.
10. Atkif Group

Presently, the utilities sector is facing critical difficulty to meet the regulatory mandates and consumer requirements. Thereby, it is aiming to lower the adverse effects on the environment. Emergency mobile substations are a revolutionary solution for providing temporary power supplies and interim grid connections. Also, these substations are incrementally finding applications during the planned or emergency outages of power supply and in the integration of renewable or distributed generation. The diverse application areas under utilities cover distribution and transmission, renewables, and smart grid solutions.

The report segments the global emergency mobile substation market as follows:

By Component

• Switchgear
• Transformer
• Surge Arresters
• Other

By Application

• Utilities
• Industrial
• Oil and Gas
• Metals & Mining

Impact of COVID–19 Pandemic on Emergency Mobile Substation Market

The ongoing COVID-19 pandemic is bringing long-term disruptions across several major processes and discrete industries—such as automotive, chemicals, oil & gas, energy & power, mining, and manufacturing. The tremendous growth in the spread of virus urges governments across the globe to impose strict restrictions on the movement of humans and vehicles. As a result, the nationwide lockdown is disrupting the supply chain and production of components, equipment, and systems, as well as the supply of raw materials for manufacturing components used in a mobile substation. The limited production activities and reduced demand from end-use industries are restraining the overall market revenue for the emergency mobile substation market, resulting in a decline in the market growth during the coming few years.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Electronics and Semiconductor s, Pharmaceuticals, Chemicals and Materials, Automotive and Transportation, Aerospace and Defense, Electronics and Semiconductors, Technology, Media, and telecommunication, Manufacturing and Construction.

This release was published on openPR.