About this market
Rise in demand for solar and wind power to emerge as major trend in the market. Increasing awareness of carbon emissions and favorable regulatory policies have turned the attention of all end-users to renewable power generation sources. Besides hydropower, which is one of the most commonly used renewable power generation source, solar and wind power generation are attracting substantial investments in recent years. When compared with hydropower, solar and wind power generation sources power are less costly to install and are more environment-friendly. analysts have predicted that the mobile substation market will register a CAGR of over 7% by 2023.
Market Overview
Need for mobile substations in oil and gas fields located in remote areas
Operations in the oil and gas industry often take place in isolated areas where it is difficult to install equipment and machines. Equipment such as compressors and drilling equipment needs a reliable power supply. Modular mobile substations that are prefabricated and installed on site in such remote locations optimize the movement of machines and workers, thereby reducing the operational cost and improving the workflow.
Availability of conventional substations
Because of their ability to provide a compact and flexible solution, the adoption of mobile substations by end-users is growing rapidly. However, these substations have a much lower market share than conventional substations. This is because these mobile substations are mainly used in emergency situations when conventional substations cannot be used or cannot come online as quickly as required. Therefore, conventional substations are still preferred as a long-term solution by end-users.
For the detailed list of factors that will drive and challenge the growth of the mobile substation market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the rising demand for solar and wind power and the need for mobile substations in oil and gas fields located in remote areas, will provide considerable growth opportunities to mobile substation manufactures. ABB, CG (Avantha Group), Eaton, GENERAL ELECTRIC, Siemens, and WEG are some of the major companies covered in this report.