“Asia-Pacific package substation market projected to reach USD 3.04 billion by 2020.”
The Asia-Pacific package substation market is expected to reach USD 3.04 billion by 2020, at a CAGR of 7.82% from 2015 to 2020. Power generation capacity addition for distribution networks and modernization of existing power infrastructure have been boosting the demand for package substations. In addition, end-use industries are deploying package substations for power distribution and to minimize power distribution losses.
“Industries segment the largest market, by application”
The industries segment is estimated to be the largest application market in 2015. Package substations are extensively used by companies for power distribution and to minimize spatial requirements. Moreover, this segment is expected to exhibit the highest CAGR from 2015 to 2020. The usage of package substations for integrated distributed generation and in renewable sector is likely to drive the industries market.
“East Asia the largest market”
East Asia is estimated to account for the largest market share, by value, in 2015. It is one of the key markets for package substation manufacturers and suppliers. East Asian countries, such as China and Japan, are driving the market in the region because of increasing investments in the energy sector. Meanwhile, increasing demand for electricity and power generation capacity additions are the key growth drivers of the package substation market in China.
Southeast Asia is one of the emerging markets for package substations. It is expected to grow at the highest CAGR during the forecast period. In the Southeast Asia region, countries such as Malaysia and Indonesia have planned renovation of their existing power infrastructure. Additionally, the booming renewable sector, distributed generation, and off-the-grid energy installations demand robust power infrastructure to accommodate additional load on the networks. All these factors are expected to boost the package substation market in the Southeast Asia region.
List of companies profiled in the report include:
• ABB Ltd.
• Schneider Electric SE
• Siemens AG
• General Electric Company
• Eaton Corporation Plc.
• Asia Electrical Power Equipment (Shenzhen) Co., Ltd.
• Crompton Greaves Ltd.
• Larsen & Toubro
• LittelFuse Inc.
• Lucy Electric
• Toshiba Corporation
• C&S Electric Limited
• Brilltech Engineers Pvt. Ltd.
• Kirloskar Electric Company Ltd.
• Xiamen Qihong Machinery Electrical Equipment Co., Ltd.
• PLVK Power Engineers & Consultants
