The mobile substation market is projected to be worth US$ 934.7 million in 2022. With an expected CAGR of 7.2%, it is anticipated that the market is growing rapidly and be worth US$ 1,879.6 million by 2032. Additional use of this mobile units for temporal grids units is further uplifting the market in the forecast period. This system provides temporary power solutions in regions impacted by natural disasters or incidents.
This mobile units are expected to play a critical role in power distribution and transmission across the grid, this units are required at the time of power outage in distribution and transmission of electrical power. As the name suggest this mobile substations have high mobility and can be transported and installed in minimal time. Furthermore, with the increased prevalence of adverse weather events, there is a growing demand for mobile substations, which are useful for emergency management as back-up systems for a limited time.
Also considerations such as cost effectiveness, versatility, time savings, and ease of installation of mobile substations foster market development. However, servicing and maintenance of a mobile substation is a significant consideration that can affects the market, as even minor failures can trigger major disruptions.
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Automotive Recovery Likely to Augment Mobile Substations Sales
Sales in Industrial sector (industries – such as automotive, chemicals, oil & gas, energy & power, mining, and manufacturing among others) were greatly affected by Covid-19 pandemic which caused implementation of certain measure by governments like closure and lockdown of industrial activities.
Reduced demand from End Use industries, disruption in supply chain which negatively impacted the mobile substation market. Although there have been efforts by state as well as nation government bodies to get all the industrial sector on track.
This units are also used to provide temporary power supply during unplanned military base repairs. Backup power supplies, such as generators, are sabotaged in military bases at times of conflict and terrorist threats. During an attack on a military installation, mobile substations supply electricity to mitigate long-term disruptions.
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North America Market Outlook
US is one of the prominent markets for Mobile Substations globally. Post COVID-19 pandemic impact in 2020, the demand is likely to remain muted in the next couple of quarters, with construction sector inching towards gradual recovery.
There has been growing demand for electricity on the back of well-established industrial sector. Although this high demand is challenged by electricity outages in the country due to natural disasters and others events. This particular reason has been one of the prominent driver of the market in US itself.
According to a report by the U.S. Department of Energy (DOE) leading cause for electricity outage in the country is bad weather. Additionally ageing grid infrastructure coupled with costly upgradation of this facilities is boosting the demand for mobile substations.
Asia Pacific Demand Outlook
Asia Pacific is another prominent region for the mobile substation market. This region has witnessed some of the most significant industrial activities in the near past. China, ASEAN and India are the leading countries in the region.
The demand for mobile substation has witnessed considerable growth in the region owing to rising population and rapid growth in industrial sector. With rising concern and awareness for proper transmission and distribution to ensure uninterrupted power supply, the mobile substation market is anticipated to gain significant sales figure in the forecast period from the region.
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Who are the Key Manufacturers and Suppliers of Mobile Substations?
Some of the leading manufacturers and suppliers include
- General Electroic
- Hitachi ABB Inc.
- Siemens AG
- Qingdao MEIDENSHA CORPORATION
- Enerset Power Solutions
- Aktif Group of Companies
Many leading manufacturers and suppliers have longstanding contracts with government, Military and various industrial players. The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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