Packaged substation market is expected to witness significant growth on account of increasing electricity demand along with need of continuous power supply over the next six years. The market is expected to witness considerable growth owing to increasing industrialization and urbanization in developing as well as developed economies. Existing features such as high operational reliability, minimum space requirement and easy installation of power transformer is expected to propel its market growth over the forecast period.
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Rising use of packaged substation on account of its functional use such as voltage transformation and damage prevention to high cost instruments is expected to augment its market growth. Asia Pacific dominated packaged substation market over the past few years and is expected to witness high growth owing to numerous distribution network upgrades and various developments in China, Singapore, India, Malaysia, and Indonesia. Increasing research and development activities in mobile substations is expected to open market growth opportunities over the forecast period. However, innovation in automation substation is expected to restrain market growth over the next six years.
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Increasing application in buildings, real estate development projects, infrastructure and manufacturing industries is further expected to accelerate market growth. Key players in packaged substation market include TIEPCO, Schneider Electric SE, Anord, ABB Ltd, C&S Electric, Kirloskar Electric Company, Eaton Corporation, Lucy Electric, Siemens AG and GE. ABB provides a complete modular packaged substation which includes 26 panels and future proof relay technology for a power network upgrade program. Anord offers fully tested package substation which encompasses short circuit withstands certification for the entire assembly. TIEPCO provides latest IEC standard packaged substations employed in various industrial applications.
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