Mobile Substation Market – Global Forecast 2024-2029: Increasing demand for reliable and efficient migration systems, growing usage across multiple end-user segments

Mobile Substation Market

Dublin, July 03, 2024 (GLOBE NEWSWIRE) — The “Mobile Substation Market – Forecast to 2029” report has been added. ResearchAndMarkets.com Recruitment.

The mobile substation market is estimated to reach USD 1,067,404,000 in 2022 and is expected to grow at a CAGR of 7.83% to reach a market size of USD 1,809,544,000 by 2029.

Mobile substations are autonomous systems that can respond to a variety of contingencies that utilities may face. They ensure temporary power supply during maintenance or renovation of the main substation. Similarly, they provide temporary power solutions to areas affected by natural disasters and natural calamities.

The increased focus on continuous supply and security of power is significantly driving the growth of the mobile substation market. At the same time, an increase in clean energy projects calls for smooth integration of renewable energy into the power grid, further increasing the demand for mobile substations due to their ability to ensure an effective transition.

Market Drivers:

There is a growing demand for reliable and effective migration systems.

The ability to recover as quickly as possible after major weather events and natural disasters provides economic, public health, and safety benefits to local businesses and communities. Moreover, the increasing demand for electricity and the continued and expansive growth in the share of renewable energy in centralized and distributed grids will necessitate effective new approaches to transition management that make the most of mobile substations, thus increasing the demand for mobile substations over the given forecast period.

Additionally, as extreme weather events and catastrophic events become more frequent, there is an increased demand for mobile substations as they can serve as short-term back-up units to aid in emergency response.

Its use is expanding across a range of end-user industries.

The energy and power industry is estimated to hold a major share and is expected to grow steadily owing to increasing efforts by governments towards improving power infrastructure. At the same time, increasing focus by the oil and gas industry to improve and ensure smooth operational efficiency is expected to drive market demand, while railways and metallurgy are expected to offer substantial revenue-generating opportunities during the forecast period.

The mobile substation market in North America and Europe is expected to grow significantly.

North America and Europe are expected to account for a major share due to early adoption of technology and presence of leading companies, while Asia Pacific is expected to grow exponentially in the near future. Furthermore, the Middle East and Africa region is expected to be one of the fastest growing regions due to the availability of abundant natural resources such as oil & gas, metals & mining, and untapped energy resource markets in parts of the African region.

Established industrial sectors in the United States are driving the demand for electricity. However, this high demand is often hampered by large-scale power outages caused by natural disasters and other events. As a result, increasing power outages in the United States are one of the main drivers of the US mobile substation market. According to the US Department of Energy (DOE), weather-related outages are the leading cause of power outages in the United States. Moreover, an aging grid infrastructure coupled with the extremely high cost of upgrading aging equipment is expected to increase the demand for mobile substations across various industries.

The story continues

Key attributes:

Competitive Landscape and Analysis

• Key Players and Strategic Analysis

• Market Share Analysis

• Mergers, acquisitions, contracts and collaborations

• Competitive Dashboard

Company Profile

segmentation:

component

type

• Skid

• Containerization

• Trailers/Semi-trailers

user

• Oil and Gas

• metallurgy

• Energy and Power

• communication

• Railway

By Geography

• North America

• united states of america

• Canada

• Mexico

• south america

• Brazil

• Argentina

• others

• Europe

• Germany

• France

• England

• others

• Middle East and Africa

• United Arab Emirates

• Saudi Arabia

• others

• Asia Pacific

• China

• Japan

• India

• South Korea

• Thailand

• Indonesia

• Taiwan

• others

For more information on this report, please visit: https://www.researchandmarkets.com/r/odh8k6

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