At 3.12% CAGR, Global E-House Market Size & Share to Surpass USD 1.97 Billion by 2028 | Electrical House Industry Trends, Growth, Value, Opportunities, Statistics, Analysis & Forecast Report by Zion Market Research
NEW YORK, June 15, 2022 /PRNewswire/ -- As per Zion Market Research study, The global E-house market was valued at nearly USD 1.5 billion in 2021 and is estimated to rise to about USD 1.97 billion by 2028, with a CAGR of around 3.12 percent over the forecast period. The report study examines the E-house market's drivers, limitations, and challenges, as well as the impact they have on the demand throughout the forecast period. The paper also looks into potential opportunities in the E-house industry.
Key Industry Insights & Finding of the E-House Market Reports:
- As per the analysis shared by our research analyst, the E-House Market is expected to grow annually at a CAGR of around 3.12 % (2022-2028).
- Through the primary research, it was established that the E-House Market was valued approximately USD 1.5 Billion in 2021 and is projected to reach to roughly USD 1.97 Billion by 2028.
- The market is expected to increase substantially due to the rising number of industrial units in oil & gas, mining, and other industries, as well as the presence of major companies like ABB Ltd, Siemens AG, and others. Canada is one of the world's top oil and gas producers.
- Oil and gas sector is vital to the economy of the country. Oil sands, which account for over 90 percent of the country's total oil reserves, remain the country's principal source of hydrocarbon production.
- According to the Canadian Association of Petroleum Producers (CAPP), oil output in Canada is predicted to exceed 5.5 billion barrels per day (bbl/d) in 2030, with oil sands accounting for 70.7 percent of total production.
Zion Market Research published the latest report titled as "E-House Market By Type (Fixed E-House And Mobile Substation), By Application (Utilities And Industrial), By Voltage Type (Medium And Low), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
E-House Market: Overview
A prefabricated mobile enclosure that contains various electrical and electronic elements such as medium- and low-voltage switchgears, digital electronic systems, transmission devices, and other auxiliary equipment is known as an electrical house (e-house). It is utilized in a variety of end-use industries, including chemicals, oil & gas, aerospace, locomotives, and metal manufacturing, for power supply and transmission. In both small and large-scale projects, it is frequently linked to major loads to considerably reduce energy expenditures and needed cable size.
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Industry Dynamics:
E-House Market: Growth Drivers
- Acceptance of the replacement of SF6 for lesser environmental impact is driving the market.
The global E-house market is being driven by the substitution of SF6 to reduce the environmental effect. SF6 (Sulfur Hexafluoride) has been used as a switching medium and insulation for electrical switchgear in e-house for decades due to its unique features. However, because SF6 is a greenhouse gas, it has life-cycle management expenses, which are increasing as the number of aged substations is decommissioned. As a fact, major provider of SF6 such as ABB has been researching alternatives with lower environmental effect, arc interruption, and insulating features similar to SF6 in recent years. This goal has already been completed, and in Switzerland, the world's first gas-insulated switchgear (GIS) pilot installation using a novel gas combination was recently commissioned. All these factors will contribute to the growth of the market over the forecast period.
E-House Market: Restraints
- High set-up costs associated with the e-house may restrain the market growth.
After design and manufacture of e-house, pre-assembly is required which includes construction & coating of steel frame, mechanical installation of equipment, and installation of floor, wall, & roof elements. In addition to this, prior to delivery to the project site, the E-House power equipment and auxiliary systems need thorough inspection and testing to ensure their high quality and operation. All these factors lead to high costs which in turn may hinder the market growth.
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Global E-House Market: Opportunities
- Increasing rate of digitalization in E-house sector is likely to offer better market growth opportunities.
The global E-house market is being driven by the digitization of e-house. The digital revolution is underway and has already made significant headway in the energy sector, presenting enormous prospects and advantages. From generation to customer relationship management, the influence of digitalization on electrical distribution is designed to enhance operations and increase flexibility throughout the power value chain. By minimizing switchgear footprint in the substation room and managing energy effectively for switchgear operation, installing digital switchgear already helps significantly to enhancing operating efficiency. For example, in medium-voltage switchgear with 30 panels at 11 kV, the width may be lowered by around 7 percent and the switchgear's energy consumption is reduced by about 300MWh throughout its lifespan. Governments and regulatory organizations are now encouraging better measurement systems and environmental standards for generation and consumption, as well as more effective resource usage. These initiatives help to drive demand for smarter distribution equipment like digital switchgear, which helps the market develop.
Global E-House Market: Challenges
- Low penetration of the market in the low and middle-income countries may serve as a major challenge for market growth.
E-house is mostly dependent on internet connectivity which is found to be poor in under-developed countries. Low disposable income and poor infrastructure are also some of the factors that are responsible for the lack or poor internet connections in countries with low- and middle-income populations. All such factors pose challenges to the growth of the market.
Global E-House Market: Segmentation
- The global E-house market is divided based on type, application, voltage type, and region.
Based on the type, the global market is split into fixed E-house and mobile substation. The application segment comprises utilities and industrial. By voltage type, the market is split into medium and low.
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List of Key Players of E-House Market:
- Axis Solutions Pvt Ltd.
- ABB
- Eaton
- BMarko Structures Inc.
- Schneider Electric
- General Electric
- Siemens AG
- Panel Built Incorporated
- TECO Corporation
- Kasa Analgen.
Key questions answered in this report:
- What are the growth rate forecast and market size for E-House Market?
- What are the key driving factors propelling the E-House Market forward?
- What are the most important companies in the E-House Market Industry?
- What segments does the E-House Market cover?
- How can I receive a free copy of the E-House Market sample report and company profiles?
Report Scope:
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Recent Developments:
- In February 2020, GE Power recently supplied an e-house and VSDS to Shell Nederland Chemie B.V.'s petrochemical facility. The VSDS from GE combines a high-speed induction motor and a varying drive to achieve a compressor train energy efficiency of over 90 percent.
- In May 2021, In Minas Gerais, WEG announced a collaboration with Vale for the manufacture of E-Houses. The two firms inked a contract for the delivery of solar E-Houses for the execution of the Sol do Cerrado Project, which is one of Brazil's largest photovoltaic power producing parks.
Regional Dominance:
· North America to lead the global market over the forecast period.
North America is expected to have a sizable share in the global E-house market during the forecast period. The market is expected to increase substantially due to the rising number of industrial units in oil & gas, mining, and other industries, as well as the presence of major companies like ABB Ltd, Siemens AG, and others. Canada is one of the world's top oil and gas producers. Its oil and gas sector is vital to the economy of the country. Oil sands, which account for over 90 percent of the country's total oil reserves, remain the country's principal source of hydrocarbon production. According to the Canadian Association of Petroleum Producers (CAPP), oil output in Canada is predicted to exceed 5.5 billion barrels per day (bbl/d) in 2030, with oil sands accounting for 70.7 percent of total production. On the other side, the Middle East and Africa are expected to have a healthy e-house market share. The increased demand for e-houses from the utility industry is accountable for this surge. Furthermore, the Middle East's rapidly expanding mining, as well as oil and gas sectors, is expected to boost the market growth.
Global E-House Market is segmented as follows:
E-House Market: By Type Outlook (2022-2028)
- Fixed E-house
- Mobile Substation
E-House Market: By Application Outlook (2022-2028)
- Utilities
- Industrial
- Oil & Gas
- Mining & Minerals
- Chemicals
- Other Industrial Applications
E-House Market: By Voltage Type Outlook (2022-2028)
- Medium
- Low
E-House Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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