QYResearch: The Europe market for Modular Substation is expected to reach about 655.42 M USD by 2022 ●Research Report ● Market Survey and Research ●Industry Analysis
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The modular substations allow for the equipment to be factory installed and pre commissioned off site, thus allowing simple onsite civil works, installation and commissioning. Modular Substations can be used for a wide variety of applications including LV/MV/HV packaged substations, local equipment rooms, control rooms, generator power plant rooms, personnel refuges and as general process or utility buildings.
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According to QYResearch, The Europe market for Modular Substation is expected to reach about 655.42 M USD by 2022 from 584.47 M USD in 2016, registering a Compounded Annual Growth Rate (CAGR) of 1.03% during the analysis period, 2012-2022. 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. The Modular Substation industry market is concentrated as the manufacturing technology of Modular Substation is relatively matures than some high-tech equipment. And some enterprises, like ABB, Siemens, Eaton, etc. are well-known for the wonderful performance of their Modular Substation and related services. At the same time, Germany, occupied 18.67% sales market share in 2016, is remarkable in the Europe Modular Substation industry because of their market share and technology status of Modular Substation. qyresearchglobal.com
The consumption volume of Modular Substation is related to downstream industries and Europe economy. As there will always be some uncertain in the Europe economy in the following years, the growth rate of Modular Substation industry may not keep that fast. But it is surely forecasted that the market of Modular Substation is still promising. The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
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