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The prefabricated substation market is projected to reach $13.9 billion by 2025, growing at a CAGR of 10.6%.

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- The Prefabricated Substation Market is estimated to reach $13.9 billion by 2025, growing at a CAGR of 10.6% from 2020 to 2025. The prefabricated substation is power distribution equipment designed with varying voltages ranging from low to high with broad market prospects. The prefabricated substation is widely used in three phase systems for line distribution of electrical energy owing to its advantage of compact size. Prefabricated substations are widely used in various end use industries owing to their wide range of applications in these industries like high public and operator protection levels, enhancing equipment lifespan, moisture resistant along with natural air cooling.

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Key takeaways:

Key Takeaways
Rise in industrialization and centralization along with surge in adoption of new flexible modular substations for different industrial uses are driving the growth of the market.

Modular Substations have wide applications in Energy and Power Utilities owing to its flexible power transmission, space reduction and cost effectiveness.

APAC is expected to dominate the global Prefabricated Substation Market in the forecast period 2020-2025 owing to the rise in T&D networks along with surge in adoption of modular substations for various applications.

The Gas Insulated substations are more costly as compared to the Air Insulated Substations. There are many design related problems related with the Gas Insulated Substations along with the challenges related to operational flexibility. These challenges could hinder the growth of the market.

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Segmental Analysis:

By Voltage- Segment Analysis : By Voltage Prefabricated Substation Market is segmented into high voltage substation, medium voltage substation and low voltage substation. High Voltage substations are witnessing significant growth in the market as many of the industries are adopting these products with different technologies including air-insulted switchgear substations, gas insulated switchgear substations, mixed technologies substations among others for various industrial applications. The high voltage prefabricated substation is used by wind and solar power stations for power distribution purposes along with grids in railway electrification. Owing to the safe and reliable performance, low fault rate, need in large electrical power transmission applications and others the market for prefabricated substation is rising rapidly.

By End User - Segment Analysis: By End User the market is segmented into Oil and Gas, Energy and Power Utilities, Semiconductors, Metal and Mining and others. Energy and Power Utilities are dominating the market. Expansion of T&D networks and advancements in smart grid are some of the factors making this sector dominating among others. Prefabricated substations are used for power distribution ranging from low to high ratings versatility. Furthermore, in energy and power utilities they are majorly used as a result of their safety and reliability, cost effectiveness, space reduction capabilities and others.

Geography - Segment Analysis : Global Prefabricated Substation Market is dominated by Asia Pacific by a share of 35.7% in 2019. Asia Pacific is dominating the market owing to modernization of power generation and transmission industries, increased T&D networks and ongoing surge in adoption of high-power infrastructure. The investments made in T&D systems for maintaining current capabilities and reliability along with use in new technologies are driving the growth of market in this region. Furthermore, digitization in manufacturing and services has also driven the growth of the market by providing digital technologies through which Asian economies are in transformation stage. In addition, surge in adoption of expandable design of equipment configuration to meet the requirements of various applications are also fueling the growth of market in this region.

Competitive Landscape:

The top 5 players in the Prefabricated Substation Industry are -

1. ABB Group
2.Siemens AG
3. Schneider Electric Corporation
4. Qingdao TGOOD Electric Company
5. Spark Corp.

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