In this blog post, we will delve into the latest statistics and trends in the Mobile Substation industry. Mobile substations play a crucial role in providing temporary or backup power solutions for a wide range of applications, from emergency situations to temporary infrastructure projects. By exploring key statistics in the mobile substation sector, we aim to provide valuable insights into the current state and future prospects of this essential industry.
The Latest Mobile Substation Industry Statistics Explained
The global mobile substation market size was USD 789.2 million in 2020.
The statistic “The global mobile substation market size was USD 789.2 million in 2020” indicates the total value or revenue generated by the mobile substation market worldwide for the year 2020. This figure represents the sum of all sales and transactions related to mobile substations, which are pre-assembled, containerized, and movable units used for temporary power distribution or grid reinforcement primarily in the energy and utility sectors. The dollar amount of USD 789.2 million serves as a key indicator to assess the scale and economic significance of the global market for mobile substations in 2020, providing insights into the industry’s contribution to the overall economy and its growth trajectory.
The market is projected to grow from USD 824.1 million in 2021 to USD 1,221.0 million by 2028.
The statistic indicates that the market is expected to experience significant growth over the specified period, with a projected increase from USD 824.1 million in 2021 to USD 1,221.0 million by 2028. This growth trend suggests a positive outlook for the market, showcasing potential opportunities for businesses operating within this sector. The forecasted increase in market size signifies expanding demand, advancements in technology, changing consumer preferences, or other factors driving growth in the industry. Companies can leverage this data to make informed decisions regarding investments, product development, and market strategies to capitalize on the anticipated market expansion.
The mobile substation market is expected to exhibit a CAGR of 5.6% during the forecast period (2021-2028).
This statistic indicates that the mobile substation market is projected to grow at a compound annual growth rate (CAGR) of 5.6% between the years 2021 and 2028. The CAGR represents a steady rate of growth over the forecast period, suggesting a positive outlook for the market. With a CAGR of 5.6%, the market is expected to expand steadily, driven by factors such as increasing demand for electricity, growing investments in energy infrastructure, and the need for flexible and rapidly deployable power solutions. This forecast implies that the mobile substation market is likely to experience sustained growth and opportunities for industry players during the specified timeframe.
The Asia Pacific held the largest market share of more than 32% in 2019.
The statement “The Asia Pacific held the largest market share of more than 32% in 2019” indicates that among all the regions or markets being considered, the Asia Pacific region had the highest proportion of market activity, with its share accounting for over 32% of the total market in 2019. This statistic suggests that the Asia Pacific region was a significant player in the market landscape during that year, potentially influencing industry trends, competition, and overall economic activity within that market segment. Understanding which regions have the largest market share can provide valuable insights for businesses, investors, and policymakers looking to target specific regions for growth opportunities or strategic decisions.
The Indian mobile substation market is projected to grow at a major rate from 2020 to 2025.
The statistic indicates that the mobile substation market in India is expected to experience significant growth between 2020 and 2025. This growth suggests an increasing demand for mobile substations, which are portable power supply units used to address temporary power needs or during emergencies. The projected major growth rate implies a strong market potential and opportunities for mobile substation manufacturers and suppliers in India over the specified period. Factors contributing to this growth may include infrastructural development, increasing power demand, and the need for flexible power solutions in various sectors such as construction, events, and utilities. Overall, the statistic highlights a positive outlook for the Indian mobile substation market in the coming years.
The North American market accounted for more than 27.0% share of the global revenue in 2019.
The statistic that the North American market accounted for more than 27.0% share of the global revenue in 2019 signifies the significant economic impact of North America within the global market landscape that year. This figure indicates that over a quarter of the total revenue generated worldwide in 2019 originated from North America, highlighting the region’s substantial contribution to the overall economic activity. The prominence of North America in global revenue underscores the region’s market size and economic importance, making it a pivotal player in the international business arena and a key driver of global economic performance during that period.
The European market for mobile substations was valued over USD 200 million in 2019.
The statistic indicates that the European market for mobile substations had a total worth exceeding USD 200 million in the year 2019. Mobile substations are portable power distribution solutions commonly used in various industries for temporary or emergency power needs. The value of over USD 200 million suggests that there was a significant demand for mobile substations in Europe during that year, showcasing a substantial market size for such products in the region. This statistic highlights the importance of mobile substations in ensuring reliable and flexible power supply, especially in scenarios where traditional fixed infrastructure may be temporarily unavailable or inadequate.
The market in Europe is expected to grow at a CAGR of over 6% between 2021 and 2027.
This statistic indicates that the market in Europe is projected to experience significant growth over the period of 2021 to 2027. The Compound Annual Growth Rate (CAGR) of over 6% suggests a steady and consistent increase in market size and activity during this timeframe. This growth rate is higher than the historical average for many industries, pointing towards potential opportunities for businesses operating in the European market. Companies should take note of this forecasted growth rate to make informed decisions and strategic plans to capitalize on the expanding market landscape in Europe.
From 2021 to 2027, the 20 KV to 100 KV segment is likely to witness growth of over 5%.
The statistic suggests that within the time period from 2021 to 2027, there is an expected positive trend in the growth rate of the 20 KV to 100 KV segment. Specifically, the anticipated growth rate is projected to be greater than 5%, indicating a significant increase in the demand or usage of products or services within this voltage range. This suggests a positive outlook for businesses operating in this segment, with opportunities for expansion and profitability. The data implies that there may be favorable market conditions, technological advancements, or other factors driving this growth trend within the specified voltage range over the coming years, indicating potential opportunities for investment or strategic planning in this segment.
In 2019, oil & gas applications dominated the mobile substations market, contributing over 60% share.
The statistic “In 2019, oil & gas applications dominated the mobile substations market, contributing over 60% share” indicates that within the mobile substations market in 2019, a majority of the applications were related to the oil and gas industry. Specifically, oil and gas applications accounted for more than 60% of the market share, showcasing a strong presence and influence of this sector within the mobile substation industry during that period. This suggests that the demand for mobile substations was primarily being driven by the needs and requirements of the oil and gas industry in 2019, highlighting the significance of this sector in shaping the market dynamics.
The Middle East & Africa mobile substation market is set to reach over USD 240 Million by 2027.
The statistic indicates that the mobile substation market in the Middle East & Africa region is projected to experience significant growth, with a forecasted value exceeding USD 240 million by the year 2027. This suggests a growing demand for mobile substations in the region, which are portable power distribution units that can be easily transported and installed to provide temporary or backup power in various applications such as construction sites, events, emergencies, or areas with unreliable grid infrastructure. The expected increase in market size reflects the region’s expanding infrastructure development, electrification efforts, and the need for reliable and flexible power solutions.
The market in Saudi Arabia is expected to grow at a CAGR of over 8% from 2021 to 2027.
This statistic indicates that the market in Saudi Arabia is anticipated to experience a Compound Annual Growth Rate (CAGR) of more than 8% between 2021 and 2027. A CAGR is a measure of the average annual growth rate of an investment or market over a specified period, assuming steady growth. Therefore, this projection suggests that the Saudi Arabian market is expected to expand robustly over the next six years, showcasing a promising trend of sustained growth and potential opportunities for investors and businesses operating within that market.
17.3% of overall mobile substation market share was occupied by the 65B-V segment in 2019.
The statistic ‘17.3% of overall mobile substation market share was occupied by the 65B-V segment in 2019’ indicates that in 2019, the specific segment identified as 65B-V held a significant portion of the total market share for mobile substations, amounting to 17.3%. This suggests that the 65B-V segment was a notable player in the mobile substation industry during that year, indicating its relative importance and influence within the market landscape. Understanding the market share distribution among different segments provides insights into the competitive dynamics and preferences of customers in the mobile substation market.
The key player, Siemens, accounted for over 20% of the global market share in 2019.
The statistic that the key player Siemens accounted for over 20% of the global market share in 2019 indicates that Siemens held a significant position in the market relative to its competitors. This high market share suggests that Siemens was a major player in the industry, with a sizable influence over market trends and dynamics. As a key player with such a large market share, Siemens likely had a significant competitive advantage, potentially leading to pricing power, economies of scale, and a strong market presence. This statistic highlights Siemens’ dominance within its industry and its importance in shaping the global market landscape in 2019.
According to experts, the Latin American market is expected to witness high growth rates due to increasing demands for electricity.
The statistic implies that industry specialists foresee a significant surge in growth within the Latin American market, particularly driven by escalating demands for electricity. This projection suggests a potential increase in the consumption and production of electricity-related products and services in the region. The high growth rates anticipated could be attributed to various factors such as population growth, urbanization, economic development, and technological advancements influencing the power sector. This anticipated growth presents opportunities for businesses and investors operating in the energy industry to capitalize on the rising demand for electricity in the Latin American market.
The transformer segment held the largest market share of over 53% in 2019:
The statistic “The transformer segment held the largest market share of over 53% in 2019” indicates that within a specific market or industry, the transformer segment accounted for more than half of the total market share in that particular year. This means that transformers were the most dominant product category or sector within the industry during that time period, surpassing all other segments in terms of market presence and sales. This statistic highlights the significant importance and popularity of transformers within the market landscape in 2019, showcasing their strong position and relevance in meeting consumer needs and driving industry growth.
The market in the UK is expected to see a growth of 8% CAGR during 2021-2027.
The statistic ‘The market in the UK is expected to see a growth of 8% CAGR during 2021-2027’ indicates that the Compound Annual Growth Rate (CAGR) for the market in the UK is projected to be 8% over the period spanning from 2021 to 2027. This growth rate provides a measure of the average annual growth rate of the market during this specific timeframe. The projection suggests that the market in the UK is anticipated to expand steadily at this rate over the seven-year period, reflecting a positive outlook for the industry’s future performance and potential opportunities for investors, businesses, and other stakeholders operating within this market.
The global mobile substation market was worth over USD 620 million in 2018.
The statistic indicates that in 2018, the total value of the global mobile substation market exceeded $620 million. This figure represents the combined financial worth of mobile substations, which are portable power distribution stations used to temporarily provide electricity during grid maintenance, emergencies, or in remote locations. The sizeable market value suggests a significant demand for mobile substations worldwide, driven by factors such as increasing power outages, the need for reliable energy supply, and construction activities in areas lacking permanent electrical infrastructure. This statistic implies a thriving market for mobile substations and highlights their importance in ensuring uninterrupted power supply across various industries and regions.
The market is anticipated to see the introduction of several green mobile substations by major market players to reduce greenhouse emissions.
The statistic indicates that in the near future, the market is expected to witness the rollout of multiple environmentally friendly mobile substations by leading companies in the industry. These green mobile substations are designed to minimize greenhouse gas emissions, contributing to the global effort to combat climate change and promoting sustainability within the energy sector. This trend suggests a shift towards more eco-friendly practices and technologies within the market, demonstrating a growing awareness and commitment towards mitigating environmental impacts in the power distribution and transmission industry.
Conclusion
The statistics presented in this blog post highlight the significant growth and potential of the mobile substation industry. With a rising demand for flexible and temporary power solutions, mobile substations are proving to be a valuable asset in various sectors. As technology and infrastructure continue to evolve, it is clear that the mobile substation industry is poised for continued expansion and innovation.
References
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