Modular Substation Market worth 16.48 Billion USD by 2020 Modular Substation Market worth 16.48 Billion USD

Modular Substation Market worth 16.48 Billion USD by 2020 The report "Modular Substation Market by Application (Power Utilities, Commercial, Industrial), Voltage (11-33kV, 33-400kV, & above 400kV), Type (Trailer Mounted & Fixed), Insulation (Air- insulated & Gas-insulated), & by Region - Global Trends and Forecast to 2020", This study on the modular or compact substation market defines and segments the market through regional forecast and segment revenue estimates till 2020. Key market players from the industry segment have been studied to track developments, technologies, and other key business strategies that define the modular substation market environment. Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020. Major drivers identified behind this growth include high rate of urbanization & industrialization and aging infrastructure requiring refurbishment & replacement. Asia-Pacific: The largest market for modular substation Asia-Pacific was the largest market for modular substation in 2014, driven largely by the developments in fast growing economies such as China, India and other countries in the Southeast Asia. These developments are due to rapid urbanization and growing energy needs. Moreover, the adoption of smart grid & substation projects and focus on industrialization projects require modernized grid facilities that reduce environmental impact and improve reliability by using equipment such as modular substation. Sample Request: Power Utilities: Biggest market by application Power utilities started to utilize modular substations to a great extent, and currently are the largest consumers of such equipment. Modular substation help utilities to efficiently operate their power related infrastructure for power generation, transmission, and distribution purposes. Moreover, these solutions help utilities in integration of distributed generation with the central grid, thereby reducing power losses. Expansion of T&D networks and capacity additions are proportionately pushing the demand for modular substation in power utilities segment. Power utilities account for an estimated 43.5% market share in the modular substation market in 2015. Key players in the modular substation market It include ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Siemens AG (Germany), General Electric Company (U.S.), and Crompton Greaves Ltd. (India). Competitive analysis of these players has been included in the report, along with market share for the top five players. Request for Customization: Scope of the Report Recent developments and other strategies have also been analyzed to identify the most widely followed growth strategies in the industry. Impact analysis of various developments is also provided in the