Asia-Pacific Package Substation Market Worth 3.04 Billion USD by 2020
PUNE, India, February 29, 2016 /PRNewswire/ --
The Report "Asia-Pacific Package Substation Market by Application (Industries, Power, & Infrastructure), by Type (Below 36 kV & 36-150 kV), & by Region (Central Asia, East Asia, South Asia, Southeast Asia, & Rest of Asia-Pacific) - Global Forecast to 2020", published by MarketsandMarkets, The market is expected to reach USD 3.04 Billion by 2020, at a CAGR of 7.82% from 2015 to 2020.
Browse 151 market data Tables and 59 Figures spread through 200 Pages and in-depth TOC on "Asia-Pacific Package Substation Market"
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East Asia is estimated to be the largest market for package substation in 2015. This growth is attributed to growing demand for electricity and power generation capacity additions. China and Japan are the largest markets in the East Asia region. South Asia is expected to be the second largest market, after East Asia, because of the use of package substations in the renewable sector. Increasing focus on renewable generation is one of the major factors driving the growth of the package substation market in the region.
Southeast Asia is expected to have the highest growth during the forecast period. Modernization of existing power infrastructure in countries such as Malaysia and Indonesia is the major factor driving the package substation market in Southeast Asia.
Industries application segment to register the highest growth
The industries segment requires package substation to transform voltage and prevent damage to expensive instruments caused by overload and over-temperature, high resistance winding faults, current and voltage unbalance, phase loss, and phase reverse. Moreover, they consist of advanced technologies that help to minimize loss and maximize efficiency. The industries segment is expected to be the fastest growing segment from 2015 to 2020. This growth is attributed to expansion of distribution networks in Asia-Pacific. This in turn would require deployment of power equipment such as package substation.
Below 36 kV package substation segment is expected to lead the market
Below 36 kV package substations are primarily employed in commercial buildings, household, and hospitals. It is estimated to be the largest segment, by type, for the package substation market in 2015. Increasing demand for electricity in Asia-Pacific requires integrated equipment for power distribution, which in turn, is likely to drive the below 36 kV package substation market. With majority of applications in residential and commercial loads, this segment has a prospective market in Asia-Pacific.
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Southeast Asia is a key market for package substation
East Asia is the largest package substation market in Asia-Pacific. China and Japan are the largest markets in the region, due to increasing demand for electricity and power generation capacity additions. Southeast Asia is expected to grow at the highest rate from 2015 to 2020. Countries such as Indonesia, Malaysia, and Vietnam have high growth prospects in the Asia-Pacific Package Substation Market. Increasing focus on renewable power generation and modernization of existing power infrastructure is likely to further boost the demand for the package substation market in the Southeast Asia region.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Asia-Pacific Package Substation Market, namely, ABB Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), General Electric Company (U.S.), and Eaton Corporation Plc. (Ireland). These companies have been the most active in terms of strategic developments from January 2012 to January 2016. Most of these market players are present in Europe and have been actively participating in competitive developments.
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