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Global Modular Substation Consumption Market

Global Modular Substation Consumption Market

In the coming years there is an increasing demand for Modular Substation in the regions of Europe that is expected to drive the market for more advanced Modular Substation. Increasing of industrial fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on power utility, retrofitting and renovation of old technology, increasing adoption of modular substation will drive growth in Europe markets.

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Modular Substation Market worth 16.48 Billion USD by 2020

Modular Substation Market worth 16.48 Billion USD by 2020

Modular substation is an ideal solution for smart cities as well as traditional networks which require technical upgrades. It proves to be cost effective and increases the reliability on the T&D networks with reduced downtimes and power outages. Modular or compact substation generally finds its application in power utilities, commercial, and industries. Significant presence of such equipment can be observed in smart grid and solar & wind applications. Apart from these markets, there are temporary installations of substations in restoration, construction or load sharing application. Skid or trailer mounted modular substation is a suited solution for such applications with effortless transportation and installation. Global Modular Substation Market is projected to witness high growth on account of aging infrastructure requiring replacement & refurbishment and increasing T&D network expansions. Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020. , with 33kV-400kV modular substations being the most widely used modular substations for reliable power supply. Power utilities have been a major area of application of the modular substations.

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Integration of Distributed Generation is the Key Opportunity for Modular Substations

Integration of Distributed Generation is the Key Opportunity for Modular Substations

Global Modular Substation Market is projected to witness high growth on account of aging infrastructure requiring replacement & refurbishment and increasing T&D network expansions. Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020. , with 33kV-400kV modular substations being the most widely used modular substations for reliable power supply. Power utilities have been a major area of application of the modular substations.

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