Electrical House Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030
PORTLAND, OREGON, UNITED STATES, January 18, 2022 /
EINPresswire.com/ -- The global electrical house market is projected to reach $2.3 billion by 2030, growing at a CAGR of 6.4% from 2021 to 2030. Electrical house (E-House) is an integrated modular power substation ideally suited in situations where interim power supply solutions are required. It consists of different electronic components such as low- and medium-voltage switchgear, digital electronic systems, and other auxiliary equipment assembled in a metallic frame. It is widely employed in power control and transmission applications across diversified end-use sectors such as oil & gas, mining, railways, and chemical.
Both small and large projects in different sectors require e-house for power supply and transmission purposes. The role of e-house is gaining importance in several end-use sectors, owing to advantages such as easy installation, ease of transportation, and less space requirement. In addition, it is a cost-effective substitute to traditional concrete block and brick construction that makes customers become more linear toward using e-house for power supply purposes. These are the major
electrical house (e-house) market trends that are further anticipated is drive the demand of the global market. Moreover, it is often used to reduce or eliminate the need for extended electricity outages in utility sector; thus, this factor is predicted to notably contribute toward the growth of the global market.
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However, e-house requires trained professional to mitigate systematic errors caused during the operations, which hampers the growth of the electrical house market. Furthermore, high maintaining costs associated with the use of e-house may restrain customers having less investment potential from purchasing e-house, which is expected to have a negative impact on the electrical house (e-house) market growth.
Conversely, increase in focus on emission and fuel economy has made customers more linear toward renewable energy units for power generation purposes, wherein e-house is widely used in renewable energy-based grids for power transmission applications. This is projected to offer e-house market growth opportunities.
The electrical house (e-house) market is segmented on the basis of type, application, voltage and region.
By type, the global electrical house market is segregated into fixed e-house and mobile substation. The mobile substation segment dominated the
global market in terms of revenue in 2020, with 60.6% of the total share. This is attributed to the development for oil & gas and automotive sectors where mobile substation type e-house is employed for power supply applications.
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On the basis of application, the market is fragmented utilities and industrial. The industrial application dominated the global market, with 53.4% of the total share in 2020. This is attributed to surge in demand for consumer goods, which, in turn, has fostered the growth of the chemical manufacturing industry, wherein e-house is used for power supply purposes.
Depending on voltage type, the global electrical house market is bifurcated into medium and low. The medium segment dominated the global market in terms of revenue in 2020, with 66.7% of the total share in 2020. This is attributed to increase in expenditure in expansion of railway networks by the government of the developing economies such as China and India, where medium-voltage e-house is widely used for power supply applications.
The global electrical house industry report provides in-depth competitive analysis. Region-wise, the global e-house market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electrical house market size is projected to grow at the highest CAGR of 7.1% during the forecast period and accounted for 35.5% of electrical house (e-house) market share in 2020, owing to expansion of the electronics and energy sectors that have enhanced the demand for e-house in the Asia-Pacific region. China's energy sector is increasing rapidly, which has forced
e-house manufacturers to produce more efficient and advanced e-house for smooth and consistent power supply applications.
The key players operating in the global electrical house market include ABB, Axis Solutions Pvt Ltd, BMarko Structures Inc., Eaton, General Electric, Kasa Analgen, Panel Built Incorporated, Schneider Electric, Siemens AG, and TECO Corporation.
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COVID-19 analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The electrical house (e-house) market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on electric utility, oil & gas, steel & metal, mining, heavy industrial, and other sectors. According to a report published by the National Bureau of Statistics of China, the large-scale manufacturing industry witnessed a 20% decline in production in March 2020 as compared to March 2019, while profits declined by 66%. In addition, several companies have either shut down or shrank their operations due to the risk of infections among the workforce where electrical house (e-house) is used for power supply purposes. This has temporarily hampered the growth of electrical house (e-house) market amid the COVID-19 period.
Furthermore, the falling income of customers and travel restrictions imposed by both local and government bodies have halted the growth of the transportation sector, which, in turn, has negatively impacted the oil & gas sector, wherein e-house is widely used for power distribution purposes. For instance, according to a report published by the Energy and Economic Growth Survey, the oil & gas sector is among the hardest hit sectors with an average contraction of −2.8% in 2020. This has shrunk the demand for electrical house for power supply applications in the oil and gas sector. Moreover, around 180 countries have temporarily stopped the trade of unnecessary products, which, in turn, has hampered the demand–supply chain of electrical house (e-house) market amid the COVID-19 situation.
David Correa
Allied Analytics LLP
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