Modular Substation Market Revenue, Growth, Restraints, Trends, Company Profiles, Analysis & Forecast Till 2030
Modular Substation Market Analysis Modular Substation Market size is projected to be worth USD 26.85 Billion, registering a CAGR of 8% during the forecast period (2022 - 2030). Modular substations help in transforming voltages and performing other functions such as switching, protection, and monitoring. It has three separate modules- medium voltage equipment, power transformer, and high voltage equipment. Modular substation has wide applications in industrial, power utilities, and commercial. Various factors are propelling the global modular substation industry share. According to the recent MRFR report, such factors include the growing modernization of electric substations, growing industrialization, and urbanization, cost-effective & compact, ample commercial and technical benefits, ready to install, reduce spatial need, and growing power generation capacity plan worldwide. Additional factors adding market growth include the burgeoning need...