The mobile substation market is projected to be worth USD 934.7 million in 2022. With an expected CAGR of 7.2%, it is anticipated that the market is growing rapidly and be worth USD 1,879.6 million by 2032.
As mobile substations are frequently used to fill electricity gaps in the grid, this can be attributed to the rise in demand for renewable energy sources like wind, solar, and hydro to meet the rising need for electricity generation. In the utility sector, the application of mobile substations is crucial for transmitting and distributing power.
| Report Attribute | Details |
|---|---|
| Mobile Substation Market Value (2022) | USD 934.7 Million |
| Mobile Substation Market Anticipated Value (2032) | USD 1,879.6 Million |
| Mobile Substation Market Projected Growth Rate (2022 to 2032) | 7.2% |
Mobile substations help to strengthen the reliability of the primary high-voltage transmission grid in response to the ever-increasing degree of power transmission issues and an imbalance within the transmission networks. The idea of a modular, plug-and-play mobile substation ensures grid connections and stability under any conditions.
The leading example can be CG in Belgium, further reaffirming its status as the world's foremost innovator in providing plug & play transportable substations. Following a thorough joint engineering study, the Saudi Electricity Company/National Grid SA utility awarded the contract to CG Belgium.
Another place for entertainment that saw a significant increase in attendance is the substation. People played there to try their luck, pass the time, and consider it a form of entertainment, as well as those who wanted to gamble to make a sizable profit for various purposes while investing a minimal amount of money.
The sector encompasses activities like gambling, lotteries, and bingo, in addition to being concerned with transferring resources and money between people. The well-known international market participants are improving their operations and providing a variety of incentives to draw more customers to test what each operator has to offer. Additionally, the participants legalize their operation by offering unquestionably real and clean services.
The term gambling on casinos or sports-like games using devices and an internet connection refers to mobile substation market trends. The substation market has a variety of moods, from sports wagers to casino-style activities, which is especially noticeable among millennials who exhibit curiosity in delving into the substation realm.
Due to characteristics like portability, speedy setup and commissioning periods, reduced mechanical footprint, and lack of necessity for civil construction, the global market for mobile substations is estimated to grow during the projected period.
Utility and industrial applications have considerable demand for mobile substations. The technology is employed in electrical advanced energy storage system grid coupling, grid connection, and plant balancing.
The adoption of mobile substations is predicted to increase as a result of the anticipated recovery from the pandemic in key end-use industries, such as
Due to the predicted rise in electricity usage, there is a resurgence in the demand for dependable power supply.
The mobile substation market is driven by strong demand from the industrial and construction sectors for reliable power supply. The market is expected to continue to grow as more of these mobile units are used for temporal grids. In areas affected by natural catastrophes or other incidents, this system offers temporary power options.
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Clean Energy Projects
The demand for mobile substations is rising due to the need for smooth renewable energy integration into the electric grid, which is necessitated by an increase in the number of clean energy projects.
Moreover, having the capacity to bounce back as soon as possible from significant weather events and natural disasters benefits local businesses and communities regarding the economy, public health, and safety.
Management Strategy
A new efficient and effective transition management strategy that fully utilizes mobile substations is required due to the increase in electricity demand, as well as the ongoing and expanded growth of the share of renewable energy in centralized and decentralized grids. These factors are likely to increase demand for the mobile substations market during the forecast period.
Lack of Awareness
The development of mobile substations is said to be hampered in some nations by the general lack of knowledge about them. As a result, this is anticipated to be the main factor restricting the global mobile substations' market share.
North America is the leading region in the mobile substation market, with a share of 26.3% during the forecast period.
As a result of a well-established industrial sector, there has been an increase in the need for power. Nevertheless, the country's frequent power outages caused by natural disasters and other events challenge this high demand. This particular factor has been a significant market driver in the USA alone.
The USA Department of Energy (DOE) reported that inclement weather is the main reason for power outages in the nation. The need for mobile substations is also increasing due to aging grid infrastructure and expensive upgrades to these facilities.
Due to the expanding population and quick industrial automation sector growth, the demand for mobile substations in the Asia Pacific has noticed a noticeable increase. China continues to have one of these regional marketplaces with the strongest growth rates.
The mobile substation market is expected to register considerable growth in sales during the projected period from the area due to growing concerns and knowledge about adequate transmission and distribution to guarantee uninterrupted power supply.
Principal Consultant
New firms are entering great prospects in the mobile substation market due to renewable power demand and multiple industrial applications. Startups in mobile substations are offering customized solutions to fulfill the end-user demand.
For instance: Mobile substations from Elgin Power Solutions are fully functional, standalone equipment. They offer units that are created and constructed to suit state and federal highway regulations and customer specifications.
Besides this, sustainability is a crucial factor to consider in the overall market. For instance: Iberdrola is searching for novel materials, designs, manufacturing processes, and construction techniques for electric substations and very high-voltage lines that improve the sustainability of the processes through its startup program PERSEO
Mobile substations can minimize or even eliminate the requirement for prolonged power interruptions during planned maintenance. Manufacturers are concentrating on finding solutions to the energy issue and opening up new markets for mobile substations.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.2% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Voltage, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; The Asia Pacific excluding Japan; Japan; The Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled | Tait Communications; Motorola Solutions, Inc; JVCKENWOOD Corporation; Icom America Inc; Hytera Communications; Sepura plc; Yaesu USA; Entel; Uniden; Kirisun Communications Co.; Quansheng |
| Customization | Available Upon Request |
The mobile substation market is projected to have a CAGR of 7.2% through 2032.
North America is leading in the mobile substation market, with a share of 26.3% by 2032.
The mobile substation market is expected to reach USD 1,879.6 million by 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Trailer Mounted 5.2. Skid Mounted 5.3. Containerized 5.4. Other Types 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Voltage 6.1. High Voltage 6.2. Medium Voltage 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Industrial 7.2. Manufacturing 7.3. Energy and Power 7.4. Transportation and Logistics 7.5. Aerospace and Marine 7.6. IT and Telecommunication 7.7. Oil and Gas 7.8. Mining 7.9. Military 7.10. Chemical 7.11. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa(MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. General Electronic 16.2. Hitachi ABB Inc. 16.3. Siemens AG 16.4. MEIDENSHA CORPORATION 16.5. Qingdao 16.6. Enerset Power Solutions 16.7. Aktif Group of Companies 16.8. CG Power 16.9. Industrial Solution Ltd 16.10. Atlas Electric Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Mobile Substations Market
