- A substation is a high-voltage electric system facility. The primary application of the substation is to switch generators, equipment, and circuits or lines in and out of a system.
- Modular substation, also known as compact substation, is a grouping of electrical equipment assembled on a platform or a trailer. It is integrated and tested in a factory environment to enable energizing upon delivery to the site.
- The modular substation has a pre-assembled, modular unit and offers numerous advantages over a conventional substation, such as less space requirements, minimizes the construction duration, improves overall safety, reduces the environmental impact, and increased design flexibility
- Modular sub-station equipment can also be mounted on a Department of Transportation (D.O.T.)-compliant trailer for mobile applications
Key Drivers of Global Modular Sub-station Market
- Demand for modular sub-station is increasing owing to a rise in automation and digitalization across the globe. Demand for electricity is high owing to an increase in population across the globe. This is driving the global modular sub-station market in order to reduce power cuts and energy losses.
- Expansion of distribution networks and modernization of existing power infrastructure are anticipated to further boost the demand for modular sub-station during the forecast period
COVID-19 Impact Analysis
- Governments of various countries have enforced nationwide lockdowns, as a precautionary measure to curb the spread of the COVID-19 pandemic. This has disrupted planned modular sub-station projects, globally, and has increased the number of power outages. The pandemic has restricted the supply of new equipment and skilled labor in the market.
- In December 2019, Schneider Electric, introduced EcoStruxure Asset Advisor for new electrical substation. EcoStruxure Asset Advisor is a condition-based monitoring and predictive analytics service that enables companies to monitor the health of new substation assets through a customer dashboard. More than 100 variables are measured and computed to provide accurate and reliable condition-monitoring.
Asia Pacific to Hold Major Share of Global Modular Sub-station Market
- Based on region, the global modular sub-station market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global modular sub-station market in 2019, owing to a rise in urbanization and globalization in the region. The trend is projected to continue during the forecast period owing to an increase in energy losses and power outages caused due to poor electrical infrastructure. Moreover, investments in the industrial sector are rising, especially in countries such as China, India, and Japan.
- North America is estimated to hold a prominent share of the global modular sub-station market in the next few years. Increase in urbanization and rate of electrification has boosted the demand for renewal of aging electrical infrastructure by modular infrastructure in the region.
- The market in Europe is likely to expand at a healthy pace during the forecast period. High investments in the renewable sector and transmission & distribution infrastructure is estimated to propel the modular sub-station market in the region.
- The market in Middle East & Africa and Latin America is anticipated to expand at a moderate pace during the forecast period. The industrial sector in these regions has been developing at a rapid pace. This is projected to augment the demand for new and efficient substations in the near future.
Key Players Operating in Market
Leading players operating in the global modular sub-station market include:
- TGOOD Global Ltd.
- General Electric Company
- Schneider Electric
- Siemens Energy
- Costruzioni Elettrotecniche Cear srl
- LS ELECTRIC Co., Ltd.
- Hitachi ABB Power Grids
- Scottish and Southern Electricity Networks
- AMPCONTROL LIMITED
Global Modular Sub-station Market: Research Scope
Global Modular Sub-station Market, by Application
- Power Utilities
Global Modular Sub-station Market, by Voltage
- Low Voltage
- Medium Voltage
- High Voltage
Global Modular Sub-station Market, by Type
- Trailer Mounted
Global Modular Sub-station Market, by Insulation
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The following regional segments are covered comprehensively:
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