DUBLIN, March 10, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/svbbqb/asiapacific) has announced the addition of the "Asia-Pacific Package Substation Market - Global Forecast to 2020" report to their offering.
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The Asia-Pacific package substation market is expected to reach USD 3.04 Billion by 2020, at a CAGR of 7.82% from 2015 to 2020.
The growth of this market is attributed to huge electricity demand and modernization of existing power infrastructure in developing countries. Investments for renewable power generation in South Asian countries have been planned to meet the rising power demand, which in turn are going to boost the demand for package substations in Asia-Pacific.
Among various applications for which package substations are employed, the industries segment is expected to be the largest market by 2020. This segment is also expected to witness the highest CAGR during the forecast period, due to increased investments in upgrading the distribution networks in Asia-Pacific in order to meet the growing power demand. Meanwhile, Southeast Asia and South Asia comprise fast growing markets for the industries segment.
Meanwhile, East Asia is expected to be the largest market for package substation during the forecast period; it is projected to exhibit a moderate CAGR from 2015 to 2020. With electricity demand going up in the region, substantial investments in the power sector have been made, which are expected to boost the demand for package substations.
Package substations have evolved recently, and thus, have a low acceptance level at present. The comparative benefits offered by package substations are highly lucrative for setting up new distribution substations in urban cities. However, their widespread usage as a replacement for old distribution systems is yet to become popular.
High cost of ring main units as compared to conventional switchgear is also a factor restraining the growth of the market. Additionally, energy cost is declining with addition of distributed generators in renewables. As a result, profit margins of distribution utilities has reduced, thereby forcing service providers to cut investments in modernized power equipment, such as package substation.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global PSS Market By Voltage Level
8 Global PSS Market By Application
9 Global PSS Market, By Geography
10 Competitive Landscape
11 Company Profiles
- ABB Ltd.
- Asia Electrical Power Equipment (Shenzhen) Co., Ltd.
- Brilltech Engineers Pvt. Ltd.
- C&S Electric Limited
- Crompton Greaves Ltd.
- Eaton Corporation PLC
- General Electric Company
- Kirloskar Electric Company Ltd.
- Larsen & Toubro
- Littelfuse Inc.
- Lucy Electric
- PLVK Power Engineers & Consultants
- Schneider Electric SE
- Siemens AG
- Tgood Electric Co. Ltd.
- Toshiba Corporation
- Xiamen Qihong Machinery Electrical Equipment Co., Ltd.
For more information visit http://www.researchandmarkets.com/research/svbbqb/asiapacific
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SOURCE Research and Markets