Persistence Market Research
Besides a constant power supply, the demand for a supplementary power supply is also being witnessed across various verticals, especially across various industries. The demand for these supplementary power supplies has witnessed a boom due to growing awareness about the adoption of renewable energy supplies. Thus, increasing adoption of mobile substations has been observed in the energy and power market.
In addition to acting as back-up power units in various industries, mobile stations have been found effective in various situations, such as disaster response, rapid expansion of transmission capacity, etc. In addition to this, the adoption of mobile substations has resulted in reduced need for extended electricity outages. Owing to the structural design of mobile substations, mobile substations are easy to install.
Mobile substations have witnessed considerable traction in the past four years and are expected to exhibit a considerable growth rate during the forecast period.
Mobile Substation Market: Market Dynamics
Mobile Substations are used in various industries. Thus, the growing industrialization being witnessed across the globe, especially in developing countries, such as India, China, Brazil, Mexico, etc. is expected to drive the growth of the global mobile substation market in terms of value. Features, such as ease of operation, transportation, installation, etc., are some of the factors impelling the growth of mobile substation market, in terms of revenue. Mobile substations, owing to their compact size, eliminate the requirement of complex civil work and construction. Thus, the cost effectiveness associated with mobile substations is another factor due to which higher preference for the installation of the same is now being witnessed across the energy and power market.
One of the recent trends witnessed in the mobile substation market is the integration of mobile substations with renewable power sources.
However, the lack of awareness about mobile substations is considered to be a major factor challenging the growth of the same across some countries. This, as a result, is expected to be the primary restraining factor for the global mobile substation market.
Mobile Substation Market: Segmentation
The global mobile substation market can be segmented on the basis of type, industry vertical and region.
Segmentation for mobile substation market by type:
On the basis of type, the mobile substation market can be segmented into:
Segmentation for Mobile Substation Market by industry vertical:
On the basis of industry vertical, the mobile substation market can be segmented into:
Mobile Substation Market: Regional Overview
By geography, the mobile substation market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific, and Middle East & Africa. Among these regions, the North America is expected to dominate the global mobile substation market during the forecast period owing to the high presence of various mobile substation vendors, high industrialization and strong energy and power market in the region. Asia Pacific (including Japan and China) and Europe are expected to follow North America in the global mobile substation market. MEA is, however, expected to exhibit highest growth rate during the forecast period owing to increasing industrialization, increasing electrification and growth associated with the mining industry in the region. Besides this, Asia Pacific and Latin America are also expected to witness a significant growth rate during the forecast period, in the global mobile substation market.
Regional Analysis for Global Mobile Substation Market Includes
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