Dublin, May 14, 2021 (GLOBE NEWSWIRE) -- The "Qatar Medium Voltage Substation Market, By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use, By Category, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Qatar Medium Voltage Substation Market stood at USD342.51 million in 2020 and is forecast to grow at a CAGR of over 8.58% until 2026.
Growth in the medium voltage substation market is driven by growing electricity consumption, increasing industrialization and rapid urbanization across Qatar.
Furthermore, the high rate of infrastructure construction, growing transportation sector, and rising manufacturing sector, among others are expected to push the demand for power, which is likely to create an opportunity for the medium voltage substation market in the near future.
Also, the growing focus of government towards diversifying the national economy away from hydrocarbons and encouraging sustainable use of resources such as the adoption of solar energy is additionally anticipated to act as a catalyst in the growth of the medium voltage substation in the country.
Based on component, the market can be segmented into Circuit Breaker, Protective Relay, Transformer, Switchgear and Others. Transformers dominated the market in 2020 and the segment is expected to maintain its market dominance during the forecast period, backed by the growth in the country's industrial and commercial sectors.
A transformer is the main component of the substation and it changes the transmission or sub transmission voltage to lower levels for use by end-users. The growth of transformers is driven by process control systems and their application in the installation of renewable energy systems and technological developments in the country.
Based on type, the market can be bifurcated into Transmission and Distribution. The distribution segment dominated the market in 2020 as the main objective of a substation is to step-down high voltage electricity from the transmission system to lower voltage electricity so it can be utilized by the end-users through distribution lines.
Based on end-use, the market can be segmented into Metal, Utility, Mining, Oil & Gas, Transportation and Others. The transportation segment is expected to grow at the highest rate in the forecast period owing to the increasing public transportation sector in the country which in turn increases the electricity demand from metros and electric trains.
Based on category, the market can be bifurcated into new and refurbished. New segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to the increasing power consumption in Qatar that has been growing at a high rate which in turn will increase the installations for new medium voltage substations.
Additionally, the high rate of infrastructure construction, rapid urbanization, and expanding transportation sector across the country are expected to increase the demand for power, which is anticipated to create an opportunity for new medium voltage substation installations.
On the basis of region, Doha held the largest share in the Qatar Medium Voltage Substation Market in 2020 and is expected to maintain the market dominance during the forecast period owing to the increasing power generation capacity plans, increasing industrial and infrastructural development activities, rising population, growing demand for replacing/refurbishing existing grid infrastructure and increasing electricity demand in this region.
Some of the major players in the Qatar Medium Voltage Substation Market include Siemens AG, Schneider Electric SE, ABB Limited, Eaton Corporation Plc, Emerson Electric Company, Voltech Engineers Private Limited, General Electric Company, Hyundai Engineering & Construction Co. Ltd., Dodsal Engineering, and National Contracting Company Limited.
Key Target Audience:
Medium voltage substation manufacturers, distributors and other stakeholders
Maintenance and repair companies
Organizations, forums and alliances related to medium voltage substation
Government bodies such as regulating authorities and policy makers
Market research and consulting firms
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Qatar Medium Voltage Substation Market, By Component:
Qatar Medium Voltage Substation Market, By Type:
Qatar Medium Voltage Substation Market, By End-Use:
Oil and Gas
Qatar Medium Voltage Substation Market, By Category:
Qatar Medium Voltage Substation Market, By Region:
Al Khor and Al Thakhira
Rest of Qatar
Schneider Electric SE
Eaton Corporation Plc
Emerson Electric Company
Voltech Engineers Private Limited
General Electric Company
Hyundai Engineering & Construction Co. Ltd.
National Contracting Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/5z77sy
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