Emergency Mobile Substation Market Size expected to advance at 6.3% CAGR, to arrive at US$1,465.34Mn by Forecast 2027

The "Emergency Mobile Substation Market Analysis to 2027" is a specialized and in-depth study with a special focus on the global market trend analysis.

NEW YORK, NY, UNITED STATES, November 10, 2022 /EINPresswire.com/ -- Latest research report study on "Emergency Mobile Substation Market Size, Global Analysis and Forecast to 2027," the market is projected to reach US$ 1,465.34 Million by 2027; it is expected to grow at a CAGR of 6.3% during 2020-2027. The market was valued at US$ 910.00 Million in 2019. The report highlights key factors driving the market growth and prominent players with their developments in the market.

Rising Number of Utilities across the Globe would support Emergency Mobile Substation Market Growth during Forecast Period

Emergency Mobile Substation Market Strategic Insights:-
Report Coverage: Details
Market Size Value in: US$ 910.00 Million in 2019
Market Size Value by: US$ 1,465.34 Million by 2027
Growth rate: CAGR of 6.3% from 2020-2027
Forecast Period: 2020-2027
Base Year: 2020
No. of Pages: 154
No. of Tables: 83
No. of Charts & Figures: 74
Historical data available: Yes
Segments covered: Component and Application
Regional scope: North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope: US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The growing demand for the emergency mobile substation is attributed to factors such as the convenience of transportation, efficient backup provision, cost-effectiveness, and flexibility. These substations can easily be ported from one place to another; therefore, their use in construction and military sectors is increasing. Further, emergency mobile substations are widely deployed in diverse sectors as these provide efficient transmission and distribution of power across the grid. The deployment of these substations provides semi permanent or even permanent installation in specific applications such as construction and utilties, which is driving the growth of the emergency mobile substations market.

AZZ Inc., Eaton Corporation PLC, General Electric Company, Siemens AG, MEIDENSHA CORPORATION, NARI Group Corporation, Powell Industries Inc., TGOOD Global Ltd. and WEG Electric Corp. are a few key Emergency Mobile Substation Market players profiled in the study. Several other major market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The report provides detailed market insights, which helps the key Emergency Mobile Substation Market players strategize their growth.

The Emergency Mobile Substation Market is segmented on the basis of Component, Application and Geography. Further, On the basis of Component, the Emergency Mobile Substation Market is segmented into Switchgear, Transformer, Surge Arresters, and Other. Based on Application, the Emergency Mobile Substation Market is segmented Utilities and Industrial. The emergency mobile substation market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM.

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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.

In terms of market share, Europe dominated the market in 2019. The industrial sector across Europe is developing significantly with a stable economy and government’s favorable support to strengthen industries in the region. A growing number of oil & gas, energy & power, manufacturing bases, and construction units plays a vital role in the sales of mobile transformers and mobile substations. Industries use electric grid heavily, and the instance of power outage might occur; therefore, the need for emergency mobile substations is rising across Europe. The increasing promotions for the deployment of emergency mobile substations in Europe accelerate the demand for these substations. For instance, in March 2020, the European governing body distributed emergency mobile substations Market to the electric power industry in Serbia. These substations are energized in on-load regime in substations of Belgrade 2 (110/35kV), Krusevac 4 (35/10kV), Zlatibor 1 (35/10kV), and Požarevac Centar (35/10kV). The distributed substation to the Serbian Electric Power Company supports faster recovery of the distribution power system during any emergency.

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The players operating in the emergency mobile substation market focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
• In October 2020, ABB assisted Tan Thang Cement to complete installation of ABB’s ability digital solutions at the new cement plant in Vietnam. The company along with digital solutions has offered 110kV air-insulated substation, SCADA system based on ABB Ability System 800xA for power control, and telecommunications and high-voltage primary andsecondary equipment to support electrical infrastructure.
• In February 2019, Con Edison announced that it is ready to install and operate a power substation by using Siemen’s mobile substation. The company stated that the deployment of mobile substations will assist Con Edison to expand resilience by lowering effect of power outages in unexpected events andextreme weather. Out of six substations, Siemens had delivered four substations to Con Edison.
• In December 2019, Elektroprivreda Srbije (EPS) received the four largest mobile substations manufactured by ABB. The company has produced this at their plant in Italy with €1.4 million of EU donation.

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