The packaged substation market has been segmented on the basis of type, application, and region. The market on the basis of application has been segmented into industries, infrastructure, and power.
Packaged Substation Market worth $11.20 Billion by 2019
Packaged substation are mostly used in distribution networks to supply power to consumers. Major benefits associated with the use of this equipment are better voltage transformation, minimum space requirements, effective fault monitoring and control, lower losses. It is also very cost effective as compared to conventional substation as the equipment is assembled by the same manufacturer.
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“Packaged Substation Market”
The global packaged substation market is projected to exhibit high growth on account of growing urbanization and rise in the number of upgrades on electrical infrastructure, influenced by increasing energy demand. The global packaged substation market is expected to be valued at $6.89 billion in 2014, and is projected to reach $11.20 billion by 2019, at a CAGR of 10.19% from 2014 to 2019.
Asia-Pacific is expected to be a lucrative market with an estimated value of $445,903.21 million by 2019.
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