Europe Electric Substation Market: Industry Analysis and Forecast (2024-2030)

Europe Electric Substation Market Overview:

An Electric substation is a part of an electrical generation, transmission, and distribution system. Substations transform voltage from high to low, or the reverse, or perform any of several other important functions. Between the generating station and the consumer, electric power may flow through several substations at different voltage levels. A substation may include transformers to change voltage levels between high transmission voltages and lower distribution voltages, or at the interconnection of two different transmission voltages.

Further, the Electric Substation market is segmented by Voltage, Application, End Users, and geography. Based on Voltage, the Electric Substation market is segmented into High, Medium, and Low. Based on the Application, the Electric Substation market is segmented into Transmission and Distribution. Based on the End Users, the Electric Substation market is segmented into Utilities and Industrial. By geography, the market covers the major countries in Europe i.e., Italy, Germany, United Kingdom, Russia, France, and the Rest of Europe for each segment, the market sizing, and forecasts have been done based on value (in US Billion).

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Europe Electric Substation Market Dynamics:

The rapid adoption of smart grid technology is leading to the growth of the market:

The significant growth in public awareness of smart grid technology in this region, especially as a result of the adoption by the European Union of the Third European Energy Liberalization Package. The main aim of this agreement is the installation of “intelligent metering systems” in 80 percent of households by 2021. New services by adding some new utilities such as Germany’s Yellow Strom have also helped increase the profile of this new technology. Till now almost all consumers in Italy now have smart meters, investment and development activity vary widely across the region and among smart grids. This adoption of the Smart Grid is leading to the rise in the demand for the production of the Europe Electric Substations market through the forecast period.

There are some advantages associated with the installation of the electric substation leading to the growth of the market:

Substation automation helps decrease functional and conservation costs and increases factory productivity using improved technologies. It also ensures higher performance, trust ability, and safety of the electrical power network performing interlocking and smart cargo slipping functions. Smart grids can decrease energy losses during transmission and distribution, ameliorate trust capacity and productivity, and manage energy demand dashingly and bring-effectively. Since all these aids, heavy investments are being made for the development of smart grids across the world. The government of Germany is making multiple enterprises fully digitalize various operations in the railroad sector. The automatic operation of trains on the mainline network using automated substations. According to the International Railway Journal, the government of Germany has invested USD 80 million in developing digital operations to increase the network capacity. These factors are increasing the growth of the demand for the production of the Electric Substations Market through the forecast period.

Europe Electric Substation Market Segment Analysis:

By Voltage, the Electric Substation market is segmented into High, Medium, and Low. The Low segment has dominated the largest market share accounting for xx% in 2023 and is expected to grow at a CAGR of 3.8% during the forecast period. The demand for low voltage systems is rising because of the growing electricity supply and demand from the residential and commercial sectors. The population around the world is increasing along with the increasing dispersion of electronics across the European region. This upsurges the demand for a continuous power supply. Therefore, it could drive the growth of the low voltage segment during the forecast period.

COVID-19 Impact on Europe Electric Substation Market:

The power companies are confronted with Covid-19 unprecedented times, which badly paralyzes some industries while keeping others largely intact. Some companies suffer more of the influence in the electrical construction industry than others. COVID-19 is having an especially negative impact on the renewables sector. One of the main problems is related to the delivery of equipment to power plants. Germany was majorly impacted due to COVID-19 and is the main global producer of many clean energy technologies, such as solar panels, wind turbines, and batteries. Since COVID-19 has delayed deliveries from Germany, renewable energy companies are not able to comply with deadlines for equipment installation. For instance, in India alone, 3,000 MW of solar and wind energy projects face delays due to the lockdown. There has been some hope of a significant recovery notwithstanding the uncertainty faced by the electrical construction industry. The activities of the electric building are reported to return in states of the region to the pre-coronavirus level. After observing the influence patterns on different power sectors, it seems clear that they are adjusting well to the economic trend.

The objective of the report is to present a comprehensive analysis of the Europe Electric Substation Market to the stakeholders in the industry. The report provides the most dominant in the Europe Electric Substation Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Electric Substation Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Europe Electric Substation Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Electric Substation Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Europe Electric Substation Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps identify how many rivals exist, who they are, and how their product quality is in the Europe Electric Substation Market. The report also t trends analyses if the Europe Electric Substation Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Electric Substation Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Electric Substation Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Electric Substation Market is aided by legal factors.

Europe Electric Substation Market Key Players:  

• Mitsubishi Electric
• Toshiba
• MYR Group
• MVM OVIT Zrt
• Apollo Power Systems Pvt .Ltd
• Tekfen Construction and Installation