The global mobile substation market size accounted for USD 1,080 million in 2024 and is expected to exceed around USD 2,185 million by 2034, growing at a CAGR of 7.3% from 2024 to 2034.
The global mobile substation market is primarily driven by considerable developments in urban areas that require uninterrupted power supply. Additionally, the fast-paced expansion of industrial activities requiring a robust power distribution network for industrial plants is resulting in a higher product uptake on a global level. Moreover, the rising integration of renewable energy sources, such as wind and solar power, with the electrical grid is driving the adoption of mobile substations. In addition to this, an enhanced focus on grid stability in remote and off-grid locations is leading to higher product adoption, which, in turn, is creating a positive outlook for the market. Furthermore, the rapid utilization of on-demand temporary power requirements in commercial as well as residential applications is providing momentum to market growth.
However, markets growth is hindering due to factors like high cost of specialized equipment, safety concern to operate is skillfully, limited capacity, infrastructure and rising environmental concern may restrict the markets growth.
Although, the increasing cases of grid modernization activities, particularly in the emerging economies, is creating lucrative opportunities in the market. Furthermore, the augmenting demand for uninterrupted energy supply due to the growing energy demands of various sectors is also creating a positive market outlook.
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| Stats ID: | 7292 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7292 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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