PUNE, India, February 29, 2016 /PRNewswire/ --
The Report "Asia-Pacific Package Substation Market by Application (Industries, Power, & Infrastructure), by Type (Below 36 kV & 36-150 kV), & by Region (Central Asia, East Asia, South Asia, Southeast Asia, & Rest of Asia-Pacific) - Global Forecast to 2020", published by MarketsandMarkets, The market is expected to reach USD 3.04 Billion by 2020, at a CAGR of 7.82% from 2015 to 2020.
Browse 151 market data Tables and 59 Figures spread through 200 Pages and in-depth TOC on "Asia-Pacific Package Substation Market"
Early buyers will receive 10% customization on this report.
East Asia is estimated to be the largest market for package substation in 2015. This growth is attributed to growing demand for electricity and power generation capacity additions. China and Japan are the largest markets in the East Asia region. South Asia is expected to be the second largest market, after East Asia, because of the use of package substations in the renewable sector. Increasing focus on renewable generation is one of the major factors driving the growth of the package substation market in the region.
Southeast Asia is expected to have the highest growth during the forecast period. Modernization of existing power infrastructure in countries such as Malaysia and Indonesia is the major factor driving the package substation market in Southeast Asia.
Industries application segment to register the highest growth
The industries segment requires package substation to transform voltage and prevent damage to expensive instruments caused by overload and over-temperature, high resistance winding faults, current and voltage unbalance, phase loss, and phase reverse. Moreover, they consist of advanced technologies that help to minimize loss and maximize efficiency. The industries segment is expected to be the fastest growing segment from 2015 to 2020. This growth is attributed to expansion of distribution networks in Asia-Pacific. This in turn would require deployment of power equipment such as package substation.
Below 36 kV package substation segment is expected to lead the market
Below 36 kV package substations are primarily employed in commercial buildings, household, and hospitals. It is estimated to be the largest segment, by type, for the package substation market in 2015. Increasing demand for electricity in Asia-Pacific requires integrated equipment for power distribution, which in turn, is likely to drive the below 36 kV package substation market. With majority of applications in residential and commercial loads, this segment has a prospective market in Asia-Pacific.
Request for Custom Report: http://www.marketsandmarkets.com/requestCustomization.asp?id=75191959
Southeast Asia is a key market for package substation
East Asia is the largest package substation market in Asia-Pacific. China and Japan are the largest markets in the region, due to increasing demand for electricity and power generation capacity additions. Southeast Asia is expected to grow at the highest rate from 2015 to 2020. Countries such as Indonesia, Malaysia, and Vietnam have high growth prospects in the Asia-Pacific Package Substation Market. Increasing focus on renewable power generation and modernization of existing power infrastructure is likely to further boost the demand for the package substation market in the Southeast Asia region.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Asia-Pacific Package Substation Market, namely, ABB Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), General Electric Company (U.S.), and Eaton Corporation Plc. (Ireland). These companies have been the most active in terms of strategic developments from January 2012 to January 2016. Most of these market players are present in Europe and have been actively participating in competitive developments.
Browse Related Reports
Packaged Substation Market by voltage Split (below 36kV and above 36kV to 150kV), by Application (Industrial, Infrastructure, and Power Utilities & Generation) and by Region - Global Trends and Forecasts to 2019
Switchgear Market by Type (High, Medium, and Low Voltage) and by Application (Industries, Utilities, Transportation and Power Generation) - Global Trends and Forecasts to 2019
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets