Asia-Pacific Package Substation Market Size and Share
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 6.00% |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Package Substation Market Analysis by Mordor Intelligence
The Asia-Pacific Package Substation Market is expected to register a CAGR of greater than 6% during the forecast period.
- The power utility segment is expected to be the largest segment in Asia-Pacific region, during the forecast period. Many developing countries like China and India are expected to upgrade their power distribution sector, which is further expected to bolster the utility segment of packaged substation market.
- Packaged substations with better technologies such as integrated voltage transformation, equipment protection, metering and remote communication, and data logging provides enormous opportunities for growth of global packaged substation market.
- China is expected to be the largest market during the forecast period, owing to the factors such as rapid industrialization and urbanization electricity.
Asia-Pacific Package Substation Market Trends and Insights
Power Utilities Segment to Witness Significant Demand
- Power utilities are expected to increase the demand for packaged substation market, as packaged substation is an integral part of electric power distribution system. They form a crucial part in the power sector across distribution and equipment protection segments.
- Growing investments from power utilities to advance their transmission and distribution network is all set to fuel the demand for packaged substations in Asia-Pacific region during the forecast period.
- With Australia's ageing electricity infrastructure nearing the end of its lifespan, it has become crucial to refurbish/ renovate electricity distribution network for increasing renewable energy generation. Moreover, the country has been taking initiatives to modernize its energy infrastructure, for which, the government invests nearly USD 5 billion each year into the transmission distribution network.
- Furthermore, the Indian government plans to invest further in strengthening the electrical network, to build a strong and smart grid, and this, in turn, is expected to supplement the demand for packaged substation in the country.
- Packaged substations are preferred over conventional substations in utility sector, owing to the advantages such as improved logistics, easy specification, reducing overheads, and smaller foundations etc., which, in turn, drives the market during the forecast period.
- Therefore, with increasing urbanization and industrialization across the developing economies, the demand for packaged substation in Asia-Pacific region is expected to witness significant growth during the forecast period.
China to Dominate the Market
- In China, with electricity demand going up in the country, substantial investments in the power sector have been made, which are expected to boost the demand for package substation market during the forecast period.
- China has witnessed high rates of demand for electricity, owing to the unprecedented growth of economy, coupled with factors, such as rapid industrialization and urbanization electricity. The robust economic growth in China reached nearly 7%, and the gross electricity consumption grew by 6.6%, exceeding 6,000 TWh, for the first time in 2017.
- According to IEA, in 2018, China was the largest market for power sector investment, supported by increased demand for power in the industrial and commercial sectors. Also, the power transmission and distribution grid of China has been experiencing major upgradations and modifications for making it capable to transmit higher electricity and cope with the future demand.
- Utilities and governments in China are developing new generation projects, particularly renewable energy ones, to meet the rising electricity demand. Hence, to accommodate these projects, power infrastructure is required, which, in turn, is expected to drive the growth of packaged substation market in the country.
- In May 2018, the Chinese government abruptly decided to stop approving any new renewable projects until further notice. Back then, just half-way through the 13th five-year plan, the country had exceeded its official solar PV target of 105 GW by 2020 by nearly 47% I.e. as per sources, China is likely to install 23-31 GW of solar in 2020.
- Therefore, based on the above-mentioned factors, China is expected to have a positive impact on the packaged substation market in Asia-Pacific region during the forecast period.
Competitive Landscape
The Asia-Pacific package substation market is moderately fragmented. Some of the major players includes Eaton Corporation PLC, General Electric Company, Larsen & Toubro Limited., Schneider Electric SE, and Kirloskar Electric Company Ltd.
Asia-Pacific Package Substation Industry Leaders
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Eaton Corporation PLC
-
General Electric Company
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LARSEN & TOUBRO LIMITED.
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Schneider Electric SE
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Kirloskar Electric Company Ltd
- *Disclaimer: Major Players sorted in no particular order
Asia-Pacific Package Substation Market Report Scope
The Asia-Pacific package substation market report include:
| High |
| Medium |
| Low |
| Industrial |
| Power Utilities |
| Commercial |
| Others |
| China |
| India |
| Japan |
| Rest of Asia-Pacific |
| Voltage | High |
| Medium | |
| Low | |
| Application | Industrial |
| Power Utilities | |
| Commercial | |
| Others | |
| Geography | China |
| India | |
| Japan | |
| Rest of Asia-Pacific |
Key Questions Answered in the Report
What is the current Asia-Pacific Package Substation Market size?
The Asia-Pacific Package Substation Market is projected to register a CAGR of greater than 6% during the forecast period (2025-2030)
Who are the key players in Asia-Pacific Package Substation Market?
Eaton Corporation PLC, General Electric Company, LARSEN & TOUBRO LIMITED., Schneider Electric SE and Kirloskar Electric Company Ltd are the major companies operating in the Asia-Pacific Package Substation Market.
What years does this Asia-Pacific Package Substation Market cover?
The report covers the Asia-Pacific Package Substation Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Package Substation Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Asia-Pacific Package Substation Market Report
Statistics for the 2025 Asia-Pacific Package Substation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Package Substation analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
