Report Code: A15986 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Skid Mounted Unit Substations Market
Request Now !Substations are the critical nodes in any electrical generation, transmission, and distribution systems that are designed for enabling transformation of voltages and several other essential functions such as monitoring, protection, and switching. Advantages such as space savings over the conventional substations, lesser installation times coupled with commendable safety and aesthetics have propelled the attractiveness for the skid mounted unit substations in the end-use sector. Aging infrastructure requiring refurbishment & replacement and high rate of industrialization & urbanization are the key growth drivers for this market. Reduced maintenance, high level of safety from cyber-attacks, and real-time monitoring are some of the benefits that distinguish modular substation from a traditional substation. Skid mounted unit substation is an ideal solution for smart cities as well as traditional networks which require technical upgrades. Such solution proves to be cost effective and increase the reliability on the T&D networks with reduced downtimes and power outages. However, innovations in the automation substation market are anticipated to hinder the market growth.
COVID-19 Impact AnalysisÂ
Top Impacting Factors
The rise in urbanization and industrialization, aging power infrastructure, and minimum spatial of requirements are factors expected to drive the global modular substation market. Aging electricity generation and distribution infrastructure are among the biggest challenges that utilities face today. Due to the failure of power infrastructure, huge costs are incurred by the utilities and grid operators. Aging infrastructure is the biggest threat to the energy supply in the US and require replacement and refurbishment. So, skid mounted unit substations and other equipment are required for reliable energy supply. Also, they save space and are useful for upgrading power infrastructure where space is at a premium. Such factors are expected to drive the global skid mounted substations market.
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Skid Mounted Unit Substations Market Report Highlights
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