Dublin, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The "Emergency Mobile Substation Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Switchgear, Transformer, Surge Arresters, and Other) and Application (Utilities and Industrial)" report has been added to ResearchAndMarkets.com's offering.
The market was valued at US$ 910.00 million in 2019 and is projected to reach US$ 1,465.34 million by 2027; it is expected to grow at a CAGR of 6.3% during 2020-2027
Substations play a significant role in the transmission and distribution of electrical power across the grid. Mobile substations are used in case of any power outage in the transmission and distribution of electrical power. Companies such as General Electric offer mobile substations that help end user in off-line events, and maintain grid safety and functionality.
The mobile substation is prefabricated, preassembled, and pre-commissioned with a compact design; therefore, it can be transported and installed in minimal time and on-site work. Customers can use mobile substation without investing in its procurement and maintenance as these substations are generally available on lease.
Presently, the utilities sector is facing critical difficulty to meet the regulatory mandates and consumer requirements. Thereby, it is aiming to lower the adverse effects on the environment. Emergency mobile substations are a revolutionary solution for providing temporary power supplies and interim grid connections.
Also, these substations are incrementally finding applications during the planned or emergency outages of power supply and in the integration of renewable or distributed generation. The diverse application areas under utilities cover distribution and transmission, renewables, and smart grid solutions.
Impact of COVID-19 Pandemic on Emergency Mobile Substation Market
The ongoing COVID-19 pandemic is bringing long-term disruptions across several major processes and discrete industries - such as automotive, chemicals, oil & gas, energy & power, mining, and manufacturing. The tremendous growth in the spread of virus urges governments across the globe to impose strict restrictions on the movement of humans and vehicles.
As a result, the nationwide lockdown is disrupting the supply chain and production of components, equipment, and systems, as well as the supply of raw materials for manufacturing components used in a mobile substation.
The limited production activities and reduced demand from end-use industries are restraining the overall market revenue for the emergency mobile substation market, resulting in a decline in the market growth during the coming few years.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Emergency Mobile Substation Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Emergency Mobile Substation Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Need for Instantaneous Power during Emergencies
5.2 Market Restraint
5.2.1 Lack of Appropriate Equipment in Undeveloped Regions
5.3 Market Opportunity
5.3.1 Rising Growth Potential in Rural Areas
5.4 Market Trend
5.4.1 Integration with advanced technologies in the future
5.5 Impact Analysis of Drivers and Restraints
6. Emergency Mobile Substation Market - Global Analysis
6.1 Global Emergency Mobile Substation Market Overview
6.2 Emergency Mobile Substation Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Key Players
7. Emergency Mobile Substation Market Analysis - By Component
7.2 Emergency Mobile Substation Market Breakdown, By Component, 2019 & 2027
7.5 Surge Arresters
8. Emergency Mobile Substation Market Revenue and Forecast to 2027 - Application
8.2 Emergency Mobile Substation Market Breakdown, By Application, 2019 & 2027
8.4.2 Industrial Market Revenue and Forecasts to 2027 (US$ Mn)
8.4.3 Oil & Gas
8.4.4 Metals & Mining
9. Emergency Mobile Substation Market - Geographic Analysis
10. Emergency Mobile Substation Market - COVID-19 Impact Analysis
11. Industry Landscape
11.2 Market Initiative
12. Company Profiles
12.1 Key Facts
12.2 Business Description
12.3 Products and Services
12.4 Financial Overview
12.5 SWOT Analysis
12.6 Key DevelopmentsAZZ Inc.
Eaton Corporation PLC
General Electric Company
NARI Group Corporation
Powell Industries, Inc.
TGOOD Global Ltd.
WEG Electric Corp.
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