Mobile Substation Market - Global Forecasts from 2024 to 2029: Increasing Demand for Reliable and Effective Transition Systems, Growing Utilization in Multiple End-user Verticals [Yahoo! F...
GE Aerospace (GE)
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Source: Yahoo! Finance
The mobile substation market is evaluated at US$1,067.404 million for the year 2022 growing at a CAGR of 7.83% reaching the market size of US$1,809.544 million by the year 2029. A mobile substation is an autonomous system that has the ability to address a range of contingencies that a utility might face. It ensures a temporary supply of energy during the time when the main station is undergoing maintenance or refurbishment. Similarly, it provides temporary power solutions in areas affected by natural disasters or events. The emphasis on providing and ensuring a continuous supply of power is significantly driving the mobile substation market growth. Simultaneously, the growing number of clean energy projects requires smooth integration of renewable energy into the electric grid, and the ability of the mobile substation to ensure an effective transition is further augmenting the demand for these substations. MARKET DRIVERS: Increasing demand for reliable and effective transitio
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