Packaged Substation Market: Increasing Demand for Modular Substations
- Packaged substation is essentially an outdoor substation built in metal enclosure, wherein each item of the electrical equipment is placed together which works as a small substation
- The packaged substation market is developing rapidly considering the flexibility provided through tailored configuration of packaged substation from the wide range of choice of packaged substation products available in the market
- Uninterrupted access to power supply is the need of every consumer today. Packaged substations are engineered for individual customer requirements using products from a comprehensive range, providing a convenient, single-sourced substation with less time and cost.
- The packaged substation market is primarily segmented into medium-voltage packaged substation and low-voltage packaged substation
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Rapid Expansion of Transmission Capacity
- Packaged substations are flexible in operation and load carrying capacity. The current transmission capacity of the substation can be varied. The whole system need not to be changed, as expansion of packaged substation is possible.
- In order to meet future needs, these modules can be quickly and easily connected together to form larger and more complex substations
- Packaged substations are more compact than traditional unit substations; therefore, multiple units may be applied without the need for significant investment in real estate
- Packaged substations are also used for the transformation of energy in secondary distribution network from medium-voltage to low-voltage or vice versa. They are generally installed in areas that are easily accessible to the public and as per specified service conditions in order to ensure protection for all.
Key Drivers of Packaged Substation
- Electrical substations are complex in design and requires a large amount of land for installation. The land is taken either on lease or is acquired. This is an uneconomical and lengthy process.
- Packaged substation utilizes less space vis-à-vis other substations. Safety is also an important factor which is an additional benefit on application of packaged substation.
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- Packaged substations are widely employed in end-user industries for distribution of power and reduction of loss incurred during the distribution. Usage of packaged substations is increasing at a rapid pace in distribution and modernization of the existing power infrastructure.
- Demand for packaged substations is expected to increase due to the rise in number of public infrastructure projects, industrial cities, need for transportation, and power projects. The global packaged substation market is expected to expand significantly during the forecast period due to the increase in need for continuous power supply on which several critical infrastructure projects such as data centers are dependent.
Asia Pacific Expected to Hold Major Share of Global Packaged Substation Market
- Geographically, the global packaged substation market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is an emerging region of the global packaged substation market due to rapid industrialization in countries such as India, China, and Japan in the region
- Rise in usage of electrical appliances has led to an increase in investment in the power sector. This, in turn, has augmented the demand for packaged substations market.
- North America is the leading consumer of packaged substations, as the U.S. Government has declared substantial plans to refurbish the infrastructure of the country
- Europe is also a promising region of the global packaged substation market. Latin America continue to offer lucrative opportunities to the packaged substation market.
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Key Players in Market
The global packaged substation market is highly concentrated with large as well as small companies
- Kirloskar Electric Company Ltd
- ABB
- General Electric
- Alstom
- Siemens AG
- Toshiba Corporation
- Eaton
- CGG Global
- Schneider Electric SE
- LARSEN & TOUBRO LIMITED.
- Asia Electrical Power Equipment (Shenzhen) Co, Ltd.
- Others
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