Global Package Substation Market is valued USD 8.76 million in 2016 is anticipated to grow USD 22.9 million with the compounded annual growth of 11.27 % over the forecast period 2018-2025.
New York 21 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Package Substation market industry is poised to raise USD 22.9 million by 2025. The major factors speculated to augment the markets are increased electricity demands owing to increased usage of data centers and other niche technologies, reduced losses in power distribution system, cost effectiveness, and rise in power demand & reducing space availability. The urban infrastructure development in major key regions is a prime opportunity for the market. A Package Substation is completely self-contained solution for power distribution that includes distribution transformer, low voltage panel, and accessories like control & protection equipment and others, all providing an efficient and cost effective total installation.
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Global Package Substation Market Size Study By Voltage Type (Above 36kV to 150 kV, and below 36 kV), By Application (Infrastructure, Industrial, and Power Utilities & Generation, and Others), and By Regional (North America, Europe, Asia Pacific, Latin America, and Rest of the World) Forecasts, 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Crompton Greaves Limited, TEPCO, Asia Electrical Power Equipment (Shenzhen) Co., Ltd., Kirloskar Electric Company, C&S Electric, Schneider Electric SE, ABB Ltd, Eaton Corporation, Siemens AG, Alstom, General Electric Company, Larsen & Toubro Ltd., Littlefuse Inc., Lucy Electric, Toshiba Corporation, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Asia Pacific region accounted for the leading market share, more than XX% of the total market in 2016 is also, the highest growing segment with respect to geographical segmentation, likely to grow by approximately 16% CAGR over the forecast period 2018-2025
- Rapid urbanization and infrastructure growth is a key area for growth in the forecasted period of 2018-2025
- Mergers, acquisitions, and subsidiary formation are chief strategies undertaken by the major dominant players of the market
Bizwit Research & Consulting LLP has considered following segments for the study:
By Voltage Type:
- Above 36kV to 150 kV
- Below 36 kV
- Power Utilities & Generation
- North America
- Asia Pacific
- Latin America
- Rest of the World