Packaged Substation Market (Updated Version Available)
Packaged Substation Market Size, Share & Trends Analysis, By Type (Below 36 kV and 36-150 kV), Application (Industrial, Power, Infrastructure, Commercial, Oil & Gas, and Others), Region and Segment, Forecast Period (2023 - 2030)
Report ID : RI_673920 | Date : July 2023 |
Format : 
Key Market Overview:
Packaged Substation Market size is expected to reach USD 36,054.70 Million by 2030 from the value of USD 17,082.71 Million in 2022, registering a CAGR of 10.2% during the forecast period (2023-2030)
A packaged substation, also termed as compact or prefabricated substation, is an equipment used for power distribution. Aforementioned substation type is mainly termed as packed owing to its compact and enclosed nature in size and structure respectively. A substation is mainly connected with a low voltage main switchboard from one end and with a high voltage network on the primary end.
Key factors that attributes towards the demand for packaged substation include reduction in overall cost, elimination of environmental hazard, among others is driving the market growth. Since conventional substations are large in size and require assembly parts for installation. Moreover, packaged substation is pre-assembled and are easier to transport thus promoting them as a better substitute in comparison to the conventional one.
Furthermore, with the rising demand for green initiative and clean source of energy, power storage stations are increasingly capturing the packed substation market. For instance, Lower Road, a 100MW energy storage site located at South of England, is maintained by Kirby group Engineering. The storage location is required with a power distribution system which is being fulfilled by Ormazabal Group through its packaged substation of 33kV. Therefore, with the rising trend of shift in the clean source of energy tends to contribute towards the market growth for packaged substation.
Packaged Substation Market Report Coverage:
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Market Dynamics:
Driver:
Owing to its design including advanced technology and factory prefabrication is driving the market growth for packaged substation
The key factor that is determined to promote the growth of packaged substation is due to its advanced technology, which is considered as safe and dependable. Moreover, with the properties including anti-corrosion body and aluminum zinc plated steel structure protects the equipment from extreme weather conditions.
Moreover, with its prefabricated design, the device is ready to be installed at the location, thus reducing extra person-hour and critical wirings. Furthermore, packaged substations reduce the timeline for installation which usually takes around 8 days for a conventional substation to install.
For instance, 11kV substations are dense in nature owing to their compact size and are adjustable with a 33kV substation in conjunction. Therefore, owing to the advantages offered by packaged substation is driving its market growth.
Restraint:
Owing to initial high cost of installation is restraining the market growth for packaged substation
Packaged substation offers lower cost in terms of man-work hour expenditure at the initial stage, whoever, the overall cost for the device tends to be high. The initial capital cost of purchase and its installation at the designated location tends to be high, which is restraining its market growth. Moreover, the limited availability of option for expansion and upgradation is also hampering its market growth.
Packaged Substation Market Segmentation:
By Type
The Type segment is categorized into Below 36 kV and 36-150 kV.
Below 36 kV accounted for the largest market share in 2022 owing to their compact size. Packaged substation including Ring Main Unit substations are among few of the substations that are in demand. Owing to key benefits including flexibility for expansion and modification coupled with its suitability for urban areas with limited space is driving the segment growth for below 36kV.
Moreover, 36-150 kV segment is anticipated to have largest market share during the forecast period owing to its wide requirement for power distribution. Mobile substations are among few of the substations that provide mobility and efficiency to operators. For instance, GE is providing a variety of mobile substations that are delivered based on industrial requirements. MV Cubicles is 36kV type of mobile substation contain hybrid substation with 20 MVA power transformer.
By Application
The Application segment is categorized into Industrial, Power, Infrastructure, Commercial, Oil & Gas, and others.
Power accounted for the largest market share in 2022 owing to rising demand for portability and flexibility. Packaged substation including mobile substations offer portability and flexibility in power supply. These substations are easily transportable to different locations and are designed to operate in emergency situations. Since the power sector constantly require such devices to maintain a balance of power in between grid and transformers, mobile Substation plays an important role in fulfilling the requirement thus, promoting the demand for packaged substation in power sector.
Moreover, the industrial sector is projected to offer fastest growth during the forecast period owing to the rising numbers of manufacturing and industrial units in the near future. The growing automotive sector is anticipated to witness staggering demand for electric vehicles in the near future which is ultimately going to raise the requirement for more production units. Thus, owing to aforementioned factors the rising demand for Packaged Substation is expected from the overall industrial sector.
By Region:
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America accounted for the largest market share in 2022 owing to developed power infrastructure. The countries including United States and Canada are focused with modernization and early adoption of technology. Furthermore, the growing requirements of substations for urban areas in the region is promoting market growth.
Asia Pacific is projected to witness the fastest CAGR during the forecast period owing to increasing industrialization within the region. In addition, with the presence of vast economies including China, Japan, India, Australia and others is fuelling the present market growth of packaged substation. Furthermore, with the rapid growth of infrastructure development, leading to rise in requirement for power distributions system which will propel the market growth for packaged substation during the forecast period.
Packaged Substation Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the micro irrigation systems market. Key players in the market include-
• ABB
• Toshiba
• Schneider Electric SA
• Siemens Energy
• Lucy Group Ltd.
• L&T Electrical & Automation FZE
• General Electric
• Eaton Corporation
• TGOOD Global Ltd.
• Ormazabal Group
Recent Developments
• January 2022, European network of Transmission System Operators for Electricity released list of power infrastructure projects under the Network Development Plan, 2022. The project is aimed to robust the power distribution network by 2030.
Packaged Substation Market size is expected to reach USD 36,054.70 Million by 2030 from the value of USD 17,082.71 Million in 2022, registering a CAGR of 10.2% during the forecast period (2023-2030)
A packaged substation, also termed as compact or prefabricated substation, is an equipment used for power distribution. Aforementioned substation type is mainly termed as packed owing to its compact and enclosed nature in size and structure respectively. A substation is mainly connected with a low voltage main switchboard from one end and with a high voltage network on the primary end.
Key factors that attributes towards the demand for packaged substation include reduction in overall cost, elimination of environmental hazard, among others is driving the market growth. Since conventional substations are large in size and require assembly parts for installation. Moreover, packaged substation is pre-assembled and are easier to transport thus promoting them as a better substitute in comparison to the conventional one.
Furthermore, with the rising demand for green initiative and clean source of energy, power storage stations are increasingly capturing the packed substation market. For instance, Lower Road, a 100MW energy storage site located at South of England, is maintained by Kirby group Engineering. The storage location is required with a power distribution system which is being fulfilled by Ormazabal Group through its packaged substation of 33kV. Therefore, with the rising trend of shift in the clean source of energy tends to contribute towards the market growth for packaged substation.
Packaged Substation Market Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 36,054.70 Million |
| CAGR (2023-2030) | 10.2% |
| Base Year | 2022 |
| By Type | Below 36 kV and 36-150 kV |
| By Application | Industrial, Power, Infrastructure, Commercial, Oil & Gas, and Others |
| By Geography |
|
| Key Players | ABB, Toshiba, Schneider Electric SA, Siemens Energy, Lucy Group Ltd., L&T Electrical & Automation FZE, General Electric, Eaton Corporation, TGOOD Global Ltd., Ormazabal Group |
Market Dynamics:
Driver:
Owing to its design including advanced technology and factory prefabrication is driving the market growth for packaged substation
The key factor that is determined to promote the growth of packaged substation is due to its advanced technology, which is considered as safe and dependable. Moreover, with the properties including anti-corrosion body and aluminum zinc plated steel structure protects the equipment from extreme weather conditions.
Moreover, with its prefabricated design, the device is ready to be installed at the location, thus reducing extra person-hour and critical wirings. Furthermore, packaged substations reduce the timeline for installation which usually takes around 8 days for a conventional substation to install.
For instance, 11kV substations are dense in nature owing to their compact size and are adjustable with a 33kV substation in conjunction. Therefore, owing to the advantages offered by packaged substation is driving its market growth.
Restraint:
Owing to initial high cost of installation is restraining the market growth for packaged substation
Packaged substation offers lower cost in terms of man-work hour expenditure at the initial stage, whoever, the overall cost for the device tends to be high. The initial capital cost of purchase and its installation at the designated location tends to be high, which is restraining its market growth. Moreover, the limited availability of option for expansion and upgradation is also hampering its market growth.
Packaged Substation Market Segmentation:
By Type
The Type segment is categorized into Below 36 kV and 36-150 kV.
Below 36 kV accounted for the largest market share in 2022 owing to their compact size. Packaged substation including Ring Main Unit substations are among few of the substations that are in demand. Owing to key benefits including flexibility for expansion and modification coupled with its suitability for urban areas with limited space is driving the segment growth for below 36kV.
Moreover, 36-150 kV segment is anticipated to have largest market share during the forecast period owing to its wide requirement for power distribution. Mobile substations are among few of the substations that provide mobility and efficiency to operators. For instance, GE is providing a variety of mobile substations that are delivered based on industrial requirements. MV Cubicles is 36kV type of mobile substation contain hybrid substation with 20 MVA power transformer.
By Application
The Application segment is categorized into Industrial, Power, Infrastructure, Commercial, Oil & Gas, and others.
Power accounted for the largest market share in 2022 owing to rising demand for portability and flexibility. Packaged substation including mobile substations offer portability and flexibility in power supply. These substations are easily transportable to different locations and are designed to operate in emergency situations. Since the power sector constantly require such devices to maintain a balance of power in between grid and transformers, mobile Substation plays an important role in fulfilling the requirement thus, promoting the demand for packaged substation in power sector.
Moreover, the industrial sector is projected to offer fastest growth during the forecast period owing to the rising numbers of manufacturing and industrial units in the near future. The growing automotive sector is anticipated to witness staggering demand for electric vehicles in the near future which is ultimately going to raise the requirement for more production units. Thus, owing to aforementioned factors the rising demand for Packaged Substation is expected from the overall industrial sector.
By Region:
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America accounted for the largest market share in 2022 owing to developed power infrastructure. The countries including United States and Canada are focused with modernization and early adoption of technology. Furthermore, the growing requirements of substations for urban areas in the region is promoting market growth.
Asia Pacific is projected to witness the fastest CAGR during the forecast period owing to increasing industrialization within the region. In addition, with the presence of vast economies including China, Japan, India, Australia and others is fuelling the present market growth of packaged substation. Furthermore, with the rapid growth of infrastructure development, leading to rise in requirement for power distributions system which will propel the market growth for packaged substation during the forecast period.
Packaged Substation Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the micro irrigation systems market. Key players in the market include-
• ABB
• Toshiba
• Schneider Electric SA
• Siemens Energy
• Lucy Group Ltd.
• L&T Electrical & Automation FZE
• General Electric
• Eaton Corporation
• TGOOD Global Ltd.
• Ormazabal Group
Recent Developments
• January 2022, European network of Transmission System Operators for Electricity released list of power infrastructure projects under the Network Development Plan, 2022. The project is aimed to robust the power distribution network by 2030.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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