Rise in per capita electricity consumption, rise in industrial sector and rehabilitation of existing electricity network to drive Iraq Medium Voltage Substation Market during the forecast period.
According to TechSci Research report, “Iraq Medium Voltage Substation Market By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use (Metal, Utility, Mining, Oil & Gas, Transportation, Others), By Category (New, Refurbished), By Region, Competition Forecast & Opportunities, 2016-2026’’, the Iraq Medium Voltage Substation Market is projected to reach USD309.36 million by 2026, on account of Increasing demand for electricity in the country, requirement of upgradation and expansion of country’s electricity transmission network and increasing support from the government to bolster the Iraq Medium Voltage Substation Market through 2026.
Iraq Medium Voltage Substation Market can be segmented based on Component, Type, End Use, Category and Region. Growing demand for electricity, increasing industrialization with an aim to diversify the economy from oil and gas sector to renewable energy will augment the demand for primary & secondary electric distribution infrastructure across the country.
On the basis of Component, the market can be segmented into Circuit Breaker, Protective Relay, Transformer, Switchgear and Others. Transformer segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to the growth in the country’s industrial & commercial sectors and increasing demand for upgradation and expansion of country’s electricity transmission network. Currently, majority of the transmission lines in the country are not fully capable of transmitting power and are also unable to accommodate the increasing load on the grid network which makes it necessary to upgrade the grid infrastructure to cater to the growing demand for electricity across the country.
However, Circuit Breaker segment is forecast to grow at a faster rate owing to their safety functions and reliability which results in a better overall performance of the system.
Browse 39 Figures spread through 100 Pages and an in-depth TOC on "Iraq Medium Voltage Substation Market"
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On the basis of Type, the market is segmented into Transmission and Distribution. Distribution segment dominated the market with 68.07% market share in 2020 owing to the rise in industrial sector in Iraq. According to Iraq Energy Institute, about 30-50 percent of electricity generated is lost due to an inadequate electricity transmission and distribution (T&D) network in the country. The main purpose of the sub-station is to reduce high voltage coming from the transmission system to the power supply to be used by end users with distribution lines.
On the basis of End Use, the market can be segmented into Metal, Utility, Mining, Oil & Gas, Transportation and Others. The Utility segment dominated the market in 2020 owing to the increasing support from the government for utility aided electrical infrastructure. The increase in in population, coupled with increasing number of houses and industries over the years is going to increase the demand for electricity in coming years in the country. The government of Iraq is focused on providing uninterrupted electricity supply to the nation for which various power grids projects are being allocated to companies, thereby increasing the need for medium voltage substations. In 2019, Iraq signed an MoU with the GCCIA for importing 500 MW of electricity to help overcome the country’s persistent power outages. This power import will be through a 300-km-long transmission line from Kuwait to Iraq’s southern port of Al Faw. The line will be constructed at a cost of USD220 million. Furthermore, the mission of Iraq’s Ministry of Electricity is to see 40% of Iraq’s electricity becoming renewable by adopting wind and waste-to-energy and geothermal technologies.
On the basis of Category, the market can be bifurcated into New and Refurbished category. Iraq’s electricity problem revolves around its lack of ability to match supply with demand. In 2019, peak demand was 26 Gigawatts, 58% higher than the generation capacity of the country. Therefore, it is necessary to install new transmission and distribution network across the country. Furthermore, Iraq’s electricity demand is expected to double by 2030 which is expected to drive the growth of the market in the coming years.
In the Iraq Medium Voltage Substation Market, Baghdad region is the largest contributor with around 31.79% market share in 2020 owing to its large population, increasing commercialization and industrialization and increasing power generation capacity plans. Majority of the planned power distribution networks by the government and transmission lines passes through the region.
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Siemens AG, Schneider Electric SE, ABB Limited, General Electric Company, Hyundai Engineering & Construction Co. Ltd., Toshiba Energy Systems & Solutions Corporation, CR Technology Systems S.p.A., Matelec Group, Al-Handasya Electric, CG Power and Industrial Solutions Limited, etc. are among the leading players operating in Iraq Medium Voltage Substation Market. Companies operating in the market are using organic strategies such as product advancement through addition of new features, partnerships, mergers and collaborations to boost their share in Iraq Medium Voltage Substation Market.
“Growing electricity demand across the country, necessity of upgradation and expansion of country’s electricity transmission network and Increasing investment from the Iraqi government in power generation projects are boosting demand for medium voltage substations in Iraq. Moreover, increasing focus of the government on renewable energy projects, growing industrial sector and rise in per capita electricity consumption have also been positively influencing the market. Government’s focus towards diversifying the national economy away from oil and gas sector, and rising adoption of solar and wind energy across the country is expected to drive the Iraq Medium Voltage Substation Market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Iraq Medium Voltage Substation Market By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use (Metal, Utility, Mining, Oil & Gas, Transportation, Others), By Category (New, Refurbished), By Region, Competition Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of Iraq Medium Voltage Substation Market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Iraq Medium Voltage Substation Market.
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Qatar Medium Voltage Substation Market By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use (Metal, Utility, Mining, Oil & Gas, Transportation, Others), By Category (New, Refurbished), By Region, Competition Forecast & Opportunities, 2016-2026
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Growing infrastructure activities including
rail, port and energy facilities, encouraging sustainable use of resources and
rising adoption of solar energy to drive Qatar medium voltage substation market
during the forecast period.
According to TechSci Research report, “Qatar
Medium Voltage Substation Market By Component (Circuit Breaker,
Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and
Distribution), By End Use (Metal, Utility, Mining,
Oil & Gas, Transportation, Others), By Category (New, Refurbished), By
Region, Competition Forecast & Opportunities, 2016-2026’’, the Qatar medium voltage substation market is projected to cross USD559.97 billion by
2026, on account of increasing demand for electricity in the country,
refurbishment & retrofit of existing grid infrastructure and rising demand
for sustainable energy infrastructure to bolster the Qatar medium voltage
substation market through 2026.
Qatar medium voltage substation market can
be segmented based on Component, Type,
End Use, Category and Region. Rapid industrialization in the country with an
aim to advance the overall economic growth and encouraging sustainable use of
resources is likely to augment the demand for primary and secondary electric
distribution infrastructure across the country.
On
the basis of Component, the market can be segmented into Circuit Breaker,
Protective Relay, Transformer, Switchgear and Others. Transformers dominated
the market in 2020 and are expected to maintain their market dominance during
the forecast period, backed by the growth in the country’s industrial &
commercial sectors and increasing demand for refurbishment & retrofit of existing
grid infrastructure. Substation transformers consist of a core and coils
immersed in oil in a steel tank. The oil serves both as an insulator and as a
coolant to keep the core at reliable operating temperatures. Some large
transformers have fins for the oil to circulate through and thus dissipate
heat. Improvements in process control systems, utilization for application in
the installation of renewable energy systems and technological developments in
the country are expected to drive the demand for transformers in the coming
years. However, Protective Relay is forecast to grow at a faster rate owing to its
higher reliability and cost reduction which results in a better overall
performance of the system.
Browse
39 Figures spread through 98 Pages and an in-depth TOC on
"Qatar
Medium Voltage Substation Market"
https://www.techsciresearch.com/report/medium-voltage-substation-market/7386.html
On
the basis of Type, the market is bifurcated into Transmission and Distribution.
The distribution segment dominated the market with 63.56% market share in 2020 owing
to the rise in industrialization in Qatar. The main purpose of the substation
is to reduce high voltage coming from the transmission system to the power
supply to be used by end users with distribution cables.
On
the basis of End Use, the market can be segmented into Metal, Utility, Mining,
Oil & Gas, Transportation and Others. The transportation segment is
expected to grow at the highest rate in the forecast period owing to the
increasing investments in the development of airports, metros, etc. by the Government
of Qatar. Making significant strides in power transmission as a part of Qatar
National Vision, 2030 is likely to drive the demand for switchgears in Qatar in
the coming years. In addition, there is a significant focus towards the development
of renewable energy sources in Qatar, with Qatar Petroleum & Qatar
Electricity and Water Company (QEWC) developing Siraj Energy solar project,
which is further anticipated to positively influence the Qatar medium voltage
substation market in the coming years.
On
the basis of Category, the market can be bifurcated into New and Refurbished.
The country’s power consumption has been growing at a high rate, which is
expected to increase the installations for new medium voltage substations. Furthermore,
the high rate of infrastructure construction, rapid urbanization, and expanding
transportation sector across the country are expected to increase the demand
for power transmission and distribution, which in turn is expected to increase
the demand for new medium voltage substations in the coming years.
In
the Qatar medium voltage substation market, Doha region is the largest contributor
with around 27% market share in 2020 owing to the development of new power
generation projects especially renewable energy projects in the region. More transmission
and distribution infrastructure will be needed to accommodate these projects which
are expected to drive the growth of the medium voltage substation market in
Qatar.
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this report.
Siemens AG, Schneider Electric SE, ABB
Limited, Eaton Corporation Plc, Emerson Electric Company, Voltech Engineers
Private Limited, General Electric Company, Hyundai Engineering &
Construction Co. Ltd., Dodsal Engineering, National Contracting Company Limited
etc. are among the leading players operating in the Qatar medium voltage
substation market. Companies operating in the market are using organic
strategies such as product advancement through addition of new features,
partnerships, mergers and collaborations to boost their share in the Qatar medium
voltage substation.
“Increasing focus on clean energy sources,
technological advancements in substations and rise in industrialization activities
are boosting the demand for medium voltage substations in Qatar. Moreover, increasing
demand for electricity across the country, high rate of infrastructure construction,
growing transportation and manufacturing sector have also been positively
influencing the market. Government’s focus towards diversifying the national
economy away from hydrocarbons, encouraging sustainable use of resources, and
rising adoption of solar energy across the country is expected to drive the
Qatar medium voltage substation market in the coming years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Qatar Medium Voltage Substation Market By
Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others),
By Type (Transmission and Distribution), By End Use (Metal, Utility, Mining,
Oil & Gas, Transportation, Others), By Category (New, Refurbished), By
Region, Competition Forecast & Opportunities, 2016-2026’’ has evaluated the future growth
potential of the Qatar medium voltage substation market and provides statistics
and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in the Qatar medium voltage
substation market.
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About TechSci Research
TechSci Research is a
leading global market research firm publishing premium market research reports.
Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research based consulting assignments in high
growth and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: sales@techsciresearch.com
Website : https://www.techsciresearch.com/
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