Market Study for E-Houses - Demand for Sustainability and Management of Electric Power spurring growth of E-House
New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- As per a study conducted by Persistence Market Research, the global E-House market is anticipated to secure a market value of US$ 1.82 Billion in 2022 and is expected to accumulate a market value of US$ 3.31 Billion by registering a CAGR of 6.2% in the forecast period 2022-2032. Growth of the E-House market can be attributed to the installation of power grids, where e-house is widely used for integrated power supply applications. The market for E-House registered a CAGR of 3.2% in the historical period 2017-2021.
Factors such as flexibility, the ease of installation, and cost-effectiveness of e-house are anticipated to augment the growth of the e-house market over the analysis period. It can be easily installed in a small space owing to its simple foundation. It is extensively utilized in both industrial and utility applications for several benefits. In addition, the rapid expansion of transmission capacity, planned maintenance, as well as disaster response are some of the major applications where e-houses are deployed. These are also used during unplanned repairs to provide temporary power supply.
Request For Free Sample Report of 'E-House Market'URL URL
Furthermore, the exploitation of shale reserve has led to an increase in demand for energy and power services. According to IEA, the global gas demand is expected to grow by 1.6% a year for the next five years, with consumption reaching almost 4,000 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016. China will account for 40% of this growth. Hence, the upstream segment is expected to be one of the largest segments for the e-house market.
Traditionally, players in the oil and gas industry obtain their switchgear, drives, and automation systems from multiple electrical equipment suppliers and obtain their electrical houses through fabricators. But the demand to reduce risk, costs, and delivery time has steered the industry away from this practice, and the part of CAPEX in the upstream sector is contributed to the e-house.
Key Takeaways from the Market Study
By voltage type, medium segment is expected to possess 31.1% market share for E-House market.
By type, Mobile Substations segment is expected to register considerable revenue in 2022 and is expected to depict a growth rate of nearly 6.1% through 2032.
The Middle East & Africa E-House market is poised to register a growth rate of 6.1% through 2032
North America is expected to possess a CAGR of 6.0% for E-House in 2022.
Buy Full Report Now and Get Up to 20% Discount URL URL
The prominent companies partaking in the global E-House market share include Electroinnova, WEG, TGOOD, Powell Industries, Elgin Power Solutions, Meidensha, Matelec Group, Aktif Group, PME Power Solutions, EKOS Group, Efacec, Delta Star, Siemens, ABB, Schneider Electric, Eaton, General Electric, CG Power, and Meidensha, among others. These firms are adopting strategies such as partnerships, joint ventures, and product line expansions to enhance their presence in the global market.
In June 2020, TGOOD signed a complex mining project with ABB Switzerland Ltd as a supplier. The project involves the delivery of more than 50 * TGOOD prefabricated E-Houses with patented designs to a remote location where temperatures can reach -58°.
In February 2020, GE Power successfully delivered an e-house and VSDS to the petrochemical facility under Shell Nederland Chemie B.V. supervision. High-speed induction motors and variable speed drives are combined in GE's VSDS, which progressively improves the compressor train's energy efficiency to over 90%.
Request Customization as per your Requirement__URL__ URL
About the Technology Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations - the Technology team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on technology of which 100+ reports specific for technology. The team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the technology industry.
Trending Market Reports:
Email Application Market
Internet of Things (IoT) Market
Master Data Management Market
Mobile Advertising Market
Airborne Intelligence Surveillance & Reconnaissance Market
Virtual Reality Market
Deep Learning Market
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on 'micros' by Persistence Market Research helps companies overcome their 'macro' business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
USA - Canada Toll-Free: 800-961-0353