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Global Electric Substation Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2025

Author : Rahul Sankrityayan | Published Date : 2019-10-23 

The Global Electric Substation Market  report offers detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the Global Electric Substation Market based on product, technology, end user and region.

Large scale offshore wind installations utilizing extended array and export cables favored by utility proximities toward the deployment of offshore substation units will drive the electric substation market. Operational longevity & performance, network capacity, and ability to cater across a pool of load centers are few indispensable parameters evaluated to justify the technological adoption. Gas insulated substations have witnessed large scale integration across offshore deployments owing to their compact unit structure, operational safety and effective load handling capabilities when compared to the available auxiliary technologies.

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Asia Pacific electric substation market will witness escalation on account of ongoing expansion of power T&D networks across countries including India, Indonesia, Singapore, Taiwan, and Malaysia. Rise in energy consumption in line with ongoing suburban migration, electrification reforms, and increase in population have compelled utilities to further extend their network accessibility and provide for long route electricity supply. Moreover, rapid digitalization across the industrial peripheral along with the advent of compact & energy efficient substation units have led foundation to the upgradation & revamp of the traditional electric infrastructure.

Electric substation market is set to gain momentum on account of rapid expansion of T&D networks including HVDC interconnection lines, Subsea connections, offshore support cables, large scale suburban electric networks and similar applications. Long route electric supply, assimilation of varied frequency AC circuits, optimum load balancing, and similar critical prospects demand for an effective network monitoring and control which in turn will boost the electric substation market share. Moreover, rapid commercialization and industrial expansion across emerging nations coupled with demand for the refurbishment of the traditional grid infarstructure across developed economies will positively influence the industry dynamics.

The Europe electric substation market will witness an upsurge on account of stringent energy efficiency norms supported by an increase in overall renewable energy consumption across the region. Domestic regulators have perpetually been channelizing technological expenditure with an aim to reinforce their regional T&D infrastructure. In addition, the integrated substructure to fortify European Union’s reforms including distribution of funds to establish a stable grid framework through the leveraging energy efficient equipment will further complement the business outlook.

Prominent electric substation market players include ABB, Schneider, Siemens, General Electric, Mitsubishi, CG, Eaton, and Others. Cost competitiveness, technology assisted product assortment along with organic and inorganic strategic implications are the key factors influencing industrial competition.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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