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The E-house market is expected to grow from US$ 1,614.70 million in 2022 to US$ 2,253.46 million by 2028
It is estimated to grow at a CAGR of 5. 7% from 2022 to 2028. The rapid growth of the mining and oil & gas sectors in the Middle East and the increasing the demand for E-houses in the Africa utility industry will likely boost the E-house market growth during the forecast period.
New York, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-House Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Component, Application" - https://www.reportlinker.com/p06353499/?utm_source=GNW
Adding to this, the MEA countries, such as Iraq, recovering from a long civil war, are anticipated to provide lucrative E-house market growth opportunities in the near future.
Iraq’s government focuses on restoring basic amenities such as power supply to business entities and people.For instance, the Ministry of Electricity in Iraq ordered 12 mobile substations for its utility sector in 2017.
The increasing power supply led to installing new substations, thus, overcoming the power shortage issue in Iraq. Mozambique, Angola, and Libya are a few major countries with significant demand catalyzing the E-house market growth in the MEA region.
One of the major E-house companies operating in the MEA is Kontrolmatik.It manufactures turnkey prefabricated and containerized E-house at its Mobile Energy Solutions Factory in Ankara, Türkiye.
The company is involved in the overall E-house system and associated processes, such as equipment supply to system integration, engineering to produce the entire system, factory tests to field testing, and commissioning. The increasing number of oil & gas projects (such as Upper Zakum - Production Capacity Enhancement, Ruwais Refinery Complex - Refinery Expansion, Zubair Oil Field - Rehabilitation Phase and Enhanced Re-Development Phase, Ras Laffan - Qatargas – NFE, Basra Gas Gathering Project, and Al Zour Refinery) in the MEA is also providing several opportunities for the E-house market growth.
Impact of COVID-19 Pandemic on E-House Market
Due to business lockdowns, travel bans, and supply chain disruptions in the wake of the COVID-19 pandemic, Europe witnessed an economic slowdown in 2020, which continued in 2021.European countries, such as the UK, Spain, and Germany, implemented drastic measures and travel restrictions to curb the spread of this virus among their citizens.
Due to restrictions imposed on travel, various sectors, such as oil & gas, mining, and many infrastructure development projects, were suspended briefly, impacting E-house use.E-house production came to an unexpected halt due to this.
However, in mid of 2020, with the release of lockdown, several projects and suspended development projects were restarted, and the demand for e-house began catalyzing. Market leaders of E-house started taking projects and accelerating the market.
In 2022, the Hungarian government started working on developing the region, where the infrastructure sector showed an upward trend. The European Commission approved an investment from the Cohesion Fund of US$ 90.72 million to improve train connections in Northern Great Plain in Hungary for passenger and freight transport. The project includes construction of several amenities that will be constructed across different remote locations that have no power supply which will require new E-house systems to provide power supplies for the construction equipment and related instruments for this project. This will generate new opportunities for E-house market players and will boost the deployment of E-houses in such projects.
The e-house market is analyzed based on type, component, and application.Based on type, the market is bifurcated into fixed (skid mounted) and mobile substations.
Based on component, the E-house market is segmented into transformer, bus bar, power management system, variable frequency drive, switchgear, HVAC, and others.Based on application, the E-house market is segmented into industrial and utilities.
Geographically, the E-house market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.
ABB Ltd.; Eaton; Becker Mining System AG; Schneider Electric SE; Siemens AG; WEG; StarFlite Systems; Sécheron; Powergear Limited; and Powell Industries, Inc. are a some of the E-house market players profiled in the study. Market players are following organic and inorganic growth strategies to sustain their competitive edge. For instance, In January 2022, ABB and UK Power Networks switched to a sustainable future with the world’s first 36 kV double bus bar AirPlus switchgear. UK Power Networks, which provides power to 8.3 million homes and businesses, has commissioned ABB to supply the world’s first 36 kV medium-voltage double busbar AirPlus Gas Insulated Switchgear (GIS). It features AirPlus gas, which acts as an insulator between the electrical contacts with almost zero global warming impact. As part of its Environmental Action Plan to pass on a sustainable planet for future generations, the UK’s biggest electricity distributor, UK Power Networks, has announced plans to use AirPlus, ABB’s innovative sustainable alternative to SF6 switchgear, at its substation in Kent.
Similarly, in February 2019, Siemens received one of its largest single orders for e-Houses from the technology group ThyssenKrupp Industrial Solutions. Seven modular power distribution substations will ensure the power supply for the operation of a new chemical complex of the MOL Group, a leading international oil and gas company from Hungary.
The overall e-house market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the e-house market.
The process also serves the purpose of obtaining an overview and forecast of the e-house market size with respect to all market segments.Also, industry participants and commentators have conducted multiple primary interviews to validate the data and gain more analytical insights.
Participants typically involved in the e-house market study include VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the e-house market.
Read the full report: https://www.reportlinker.com/p06353499/?utm_source=GNW
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