Market Overview:
The global substation testing equipment market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for electricity and rising investments in power infrastructure. In addition, the growing need for reliable and efficient transmission and distribution systems is also contributing to the growth of the market. Based on type, the low voltage segment is expected to account for a major share of the global substation testing equipment market in 2018. This segment is projected to grow at a CAGR of 5.8% from 2018 to 2030 due to its high demand from residential applications across different regions worldwide.
Product Definition:
Substation Testing Equipment is used to test the performance of substations. This equipment is important because it helps ensure that substations are operating properly and safely.
Low Voltage:
Low voltage (LV) testing equipment is used for testing the electrical conductivity of materials such as copper, aluminum, and fiber optic cables. The LV test equipment finds its application in distribution and transmission systems that are operated at low voltages ranging from 1 kV to 1 MV.
The demand for low voltage (LV) testing equipment is increasing owing to the growing number of power projects across the globe.
High Voltage:
High voltage (HV) is the general term used for electric energy transmission systems which are greater than 1,000 volts. It is also known as super-high voltage (SHV), extremely high voltage (EHV), or ultra-high voltage (UHV). HV equipment finds its major application in power transformers, switchgears and substation testing.
Application Insights:
The industrial segment dominated the global substation testing equipment market in 2017. This can be attributed to the growing demand for electric power generation and transmission infrastructure from various industries, including oil & gas, mining, etc. The commercial segment is expected to witness a significant CAGR of XX% during the forecast period owing to an increase in commercial construction activities globally.
The residential sector is also likely to witness considerable growth during the forecast period owing to increasing urbanization projects across developing countries such as China and India. Moreover, rising electricity bills due to usage of advanced technologies such as smart meters are anticipated to boost investments for improving or installing new electrical infrastructures in homes across various regions worldwide. Increasing number of power outages caused due improper installation or maintenance of distribution boards will encourage consumers towards purchasing products from utility companies at their residences resulting in high adoption rates among residential consumers globally which will positively impact industry growth over the next few years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for electricity in emerging economies, such as China and India. In 2016, Asia Pacific accounted for a share of more than 30% of global population and around 60% of global GDP. Thus, it has a huge potential for economic development with an enormous requirement for power generation across various sectors including residential, commercial and industrial sectors.
The high penetration rate of electronics products in developed countries including Japan is anticipated to drive the product demand in Europe region over the forecast period.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Rapid expansion of renewable energy sources such as solar and wind power
- Aging infrastructure and need for replacement/upgrade
- Growing concern for safety and reliability of the electrical grid
- Increased investment in smart grid technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Substation Testing Equipment Market Research Report
By Type
Low Voltage, High Voltage, Extra-high Voltage
By Application
Residential, Commercial, Industrial
By Companies
ABB, Honeywell International Inc., Siemens AG, Schneider Electric, Emerson Electric, General Electric, Eaton, Megger, Schweitzer Engineering Laboratories, Enersol, SMC, HV Technologies, BAUR
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Substation Testing Equipment Market Report Segments:
The global Substation Testing Equipment market is segmented on the basis of:
Types
Low Voltage, High Voltage, Extra-high Voltage
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Honeywell International Inc.
- Siemens AG
- Schneider Electric
- Emerson Electric
- General Electric
- Eaton
- Megger
- Schweitzer Engineering Laboratories
- Enersol
- SMC
- HV Technologies
- BAUR
Highlights of The Substation Testing Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low Voltage
- High Voltage
- Extra-high Voltage
- By Application:
- Residential
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Substation Testing Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Substation testing equipment is a type of testing equipment used to test electrical circuits and systems. It includes devices that measure voltage, current, resistance, and other parameters.
Some of the major players in the substation testing equipment market are ABB, Honeywell International Inc., Siemens AG, Schneider Electric, Emerson Electric, General Electric, Eaton, Megger, Schweitzer Engineering Laboratories, Enersol, SMC, HV Technologies, BAUR.
The substation testing equipment market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Substation Testing Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Substation Testing Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Substation Testing Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Substation Testing Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Substation Testing Equipment Market Size & Forecast, 2020-2028
4.5.1 Substation Testing Equipment Market Size and Y-o-Y Growth
4.5.2 Substation Testing Equipment Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Low Voltage
5.2.2 High Voltage
5.2.3 Extra-high Voltage
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Substation Testing Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Substation Testing Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Low Voltage
9.6.2 High Voltage
9.6.3 Extra-high Voltage
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Low Voltage
10.6.2 High Voltage
10.6.3 Extra-high Voltage
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Low Voltage
11.6.2 High Voltage
11.6.3 Extra-high Voltage
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Low Voltage
12.6.2 High Voltage
12.6.3 Extra-high Voltage
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Low Voltage
13.6.2 High Voltage
13.6.3 Extra-high Voltage
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Substation Testing Equipment Market: Competitive Dashboard
14.2 Global Substation Testing Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Honeywell International Inc.
14.3.3 Siemens AG
14.3.4 Schneider Electric
14.3.5 Emerson Electric
14.3.6 General Electric
14.3.7 Eaton
14.3.8 Megger
14.3.9 Schweitzer Engineering Laboratories
14.3.10 Enersol
14.3.11 SMC
14.3.12 HV Technologies
14.3.13 BAUR
