[January 16, 2019]

Global Mobile Substation Market Will Grow at a CAGR of 7% During 2019-2023 | Technavio

Technavio has announced the release of their research report on the Global Mobile Substation Market for the forecast period 2019-2023. This mobile substation market analysis report segments the market by end-user (industrial and commercial) and geography (the Americas, APAC, and EMEA).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190116005500/en/

Technavio forecasts the global mobile substation market size will grow by almost USD 309.71 million during 2019-2023. (Graphic: Business Wire)

Global mobile substation market size will grow by almost USD 309.71 million during 2019-2023, at a CAGR of more than 7%. The operations in the oil and gas industry usually take place in isolated areas and modular mobile substations that are prefabricated and installed on site in such remote locations to optimize the movement of machines and workers. This helps in reducing the operational cost and improving the workflow. Mobile substations also offer advantages during the decommissioning of the oil and gas facilities, by streamlining such processes. They also offer flexibility as oil and gas operators can move them from one location to another quickly.

Growing adoption of microgrids

The microgrids offer limited transmission and distribution capabilities that are usually confined to a specific locality. In addition to supplying power independently to the concerned locality during a primary grid failure, the microgrids can also operate along with the primary grid. Mobile substations can complement these microgrids by providing compact substations that can be installed quickly. The mobile substations with a smaller footprint can also be deployed in congested locations. The rising demand for electric vehicles is expected to boost the demand for microgrids.

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"Around 40% of the market's growth will come from the EMEA region. Rapid urbanization and population growth can be witnessed in countries in both Africa and the Middle East. Hence, there is a growing demand for power, and to meet this demand, the countries in the Middle East and Africa have planned investments in power generation and T&D infrastructure. The power supply is inadequate to meet the demand despite these investments in power infrastructure. This has led to many countries in the Middle East and Africa choosing mobile substations to meet the demand for power," says an analyst at Technavio.

The demand for power has increased owing to the rising population and industrial growth. This has resulted in an increased need for proper power transmission and distribution to ensure uninterrupted power supply and the mobile substations can offer a cost-effective solution for this. The countries in Asia, the Middle East, and Africa have been undertaking electrification projects to enhance their power transmission and distribution facilities, which is expected to directly contribute to the demand for mobile substations.

View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report

This mobile substation industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several mobile substation manufacturers including -

• ABB
• CG (Avantha Group)
• Eaton (News - Alert)
• GENERAL ELECTRIC
• Siemens
• WEG

Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio's report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190116005500/en/

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