Modular Substation Market worth 16.48 Billion USD by 2020
Modular substation is an ideal solution for smart cities as well as traditional networks which require technical upgrades. It proves to be cost effective and increases the reliability on the T&D networks with reduced downtimes and power outages. Modular or compact substation generally finds its application in power utilities, commercial, and industries. Significant presence of such equipment can be observed in smart grid and solar & wind applications. Apart from these markets, there are temporary installations of substations in restoration, construction or load sharing application. Skid or trailer mounted modular substation is a suited solution for such applications with effortless transportation and installation. Global Modular Substation Market is projected to witness high growth on account of aging infrastructure requiring replacement & refurbishment and increasing T&D network expansions. Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020. , with 33kV-400kV modular substations being the most widely used modular substations for reliable power supply. Power utilities have been a major area of application of the modular substations.
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