Packaged Substation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Voltage (High, Medium, and Low), Application (Power Utilities, Commercial and Industrial, and Others), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa)

Market Snapshot

Packaged Substation Market Overview
Study Period: 2018- 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Packaged Substation Market Key Players

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Market Overview

The packaged substation market is expected to grow at a CAGR of more than 4% during the forecast period. Global economic solowdown, supply chain disruptions, fluctuations in demand, and long-term & immediate impact of the COVID-19 crisis had a negative effect on the market growth in terms of project delays and investments. A packaged substation is employed to minimize space utilization, (step-up or step-down) transform voltage, and protect equipment in the event of abnormalities. Factors such as increasing power generation capacity across the world, growing demand for replacing/refurbishing of aging substation infrastructure, and increasing electricity demand, particularly in emerging economies such as China and India, owing to rapidly increasing industrial and infrastructural development activities, are expected to drive the market during the forecast period. However, factors such as lack of power handling capabilities when compared to large outdoor substations and others are expected to hinder the market growth for the next ten years.

  • The power utility segment is expected to witness significant demand during the forecast period as many developing countries are planning to upgrade their power distribution sector in the coming years.
  • The application of packed substation in the renewable energy sector of new and emerging countries is expected to create significant opportunities in the near future.
  • Asia-Pacific is expected to be the largest market with majority of the demand coming from countries like China and India.

Scope of the Report

The packaged substation market report includes:

Power Utilities
Commercial and Industrial
North America
South America
Middle-East and Africa

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Key Market Trends

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 the electric power distribution system. They form a crucial part of the power sector across distribution and equipment protection segments.
  • Growing investments from power utilities in order to advance their transmission and distribution network is all set to fuel the demand for packaged substations during the forecast period.
  • The fully equipped package substation (PSS), comprises of outdoor duty enclosure, medium voltage switchgear, distribution transformer, low voltage panel & APFC (Automatic Power Factor Control) panel (optional), is state-of-the-art equipment for all power distribution requirements. The factory-assembled self-contained package substation is a complete weatherproof solution. It only requires connecting incoming and outgoing cables, and hence the site work involved is an absolute minimum.
  • Countries in the Middle-East and African region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of distribution power grids, which increases the growth prospects of the packaged substation market segment.
  • Packaged substations are preferred over conventional substations for specific applications 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 is expected to witness significant growth during the forecast period.
Packaged Substation Market Key Trends

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to dominate the market, due to the increasing power generation capacity plans, growing demand for replacing/refurbishing aging transmission and distribution networks, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities.
  • China has witnessed high rates of demand for electricity, owing to the unprecedented growth of the economy, coupled with factors, such as rapid industrialization and urbanization electricity.
  • Utilities and governments in China are developing new generation projects, particularly renewable energy, to meet the rising electricity demand. This is likely to require power infrastructure to accommodate these projects, which is expected to drive the growth of packaged substation market size in the country.
  • With Australia’s aging electricity infrastructure, 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 is planning to invest nearly USD 5 billion each year into the transmission distribution network.
  • Furthermore, the Indian government plans to invest 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.
  • Therefore, based on the above-mentioned factors, Asia-Pacific region is expected to have a positive impact on the packaged substation market during the forecast period.
Packaged Substation Market Growth by Region

Competitive Landscape

The packaged 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

Recent Developments

  • In March 2021, Adani Transmissionon won the auction for the second package of Madhya Pradesh’s intra-state electricity transmission infrastructure project. The transmission works under the second package will be spread over the area of Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company (MPMKVCL) and Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (MPPOKWVCL). The project involves the construction of three 220/132kV substations, one 220/33kV substation and fourteen 132kV substations.
  • In March 2021, ADVA (ADVA Optical Networking SE) launched its OSA 5405-P substation grandmaster, an ultra-compact synchronization solution specifically designed for the digital transformation of power utility networks. The OSA 5405-P delivers the precise and reliable timing that utilities need to leverage new smart grid applications, including intelligent power generation, distribution and control systems.

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2026

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Assessment of the COVID-19 Impact on the Industry


    1. 5.1 Voltage

      1. 5.1.1 High

      2. 5.1.2 Medium

      3. 5.1.3 Low

    2. 5.2 Application

      1. 5.2.1 Power Utilities

      2. 5.2.2 Commercial and Industrial

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Eaton Corporation PLC

      2. 6.3.2 General Electric Company

      3. 6.3.3 Schneider Electric SE

      4. 6.3.4 Larsen & Toubro Ltd

      5. 6.3.5 ABB Ltd

      6. 6.3.6 Kirloskar Electric Company Ltd

      7. 6.3.7 Lucy Group Ltd.

      8. 6.3.8 alfanar Group

      9. 6.3.9 C&S Electric Limited

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Packaged Substation Market market is studied from 2018 - 2026.

The Packaged Substation Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Eaton Corporation PLC, General Electric Company , LARSEN & TOUBRO LIMITED., Schneider Electric SE , Kirloskar Electric Company Ltd are the major companies operating in Packaged Substation Market.

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