Modular Substations Market Price, compact substation, substation automation, package substation, capacitor bank, power factor correction capacitor Industry Forecast 2025
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A substation is the part of an electrical generation, transmission, and distribution system, which has transformers and several other components that help to either lower down the voltage or increase it. Modular substations are replacing conventional substations because of their additional advantages of flexibility, scalability, and reliability.
Modular substations are cost-effective, safer, provide time, space, and labor saving options for the already built, to be replaced or an addition of capacity to the existing system. The global modular substations market is expected to grow at a CAGR of 9.1% from 2017 to 2025.
• Urbanization and industrialization is expected to increase the demand for modular substations.
• Ageing infrastructure requires replacement and refurbishment, which in turn, is expected to drive the market during the forecast period.
• Adoption of new technology is projected to increase the energy cost for consumers, which may result in the slowdown of modular substations market during the forecast period.
• Lack of standardization is also expected to reduce the demand for the modular substations during the forecast period.
The top players in the global modular substations market include Modpower Solutions., Eaton Corporation PLC, Siemens AG, General Electric Co., Crompton Greaves Limited, Bharat Heavy Electricals Limited, SPX Transformer Solutions Inc., Creative Distribution Automation Co. Ltd., Skema S.P.A., and American Modular Power Solutions Inc. (compact substation Market)
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By Type (electrical panel board Market)
• Skid/Trailer Mounted Modular Substations
• Fixed Modular Substations
Key Point from Table of Content
9. Company profiles
9.1. Modpower Solutions
9.1.2. Financials and business segments
9.1.3. Recent Developments
9.2. Eaton Corporation PLC
9.2.2. Financials and business segments
9.2.3. Recent Developments
9.3. Siemens AG
9.3.1. Overview (compact substation abb Market)
9.3.2. Financials and business segments
9.3.3. Recent Developments
9.4. General Electric Co.
9.4.2. Financials and business segments
• Above 400kV
• Power Utilities (power bank capacitor Market)
• Industrial (compact substation Market price)
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Based on insulation, the modular substation is divided as air-insulated and gas-insulated substations. Based on application, the market is bifurcated into power utilities, commercial, and industrial applications. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA. (compact substation schneider Market)
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