Fri, 09 Dec 2022

The global e-house market size is expected to be valued at US$ 1.6 Billion in 2022 and reach US$ 3.8 Billion in 2032. It is set to exhibit growth at a considerable CAGR of 5.4% in the forecast period from 2022 to 2032. The increasing electricity consumption and the urgent need to install new power grids are likely to drive the demand for e-houses in the near future.

Electronic house or e-house is a pre-tested, pre-assembled, and customized modular power substation. It is best suited for those locations that are very difficult to access or in situations that require interim solutions. It can be easily and rapidly installed owing to its high-quality design. It includes numerous modules that are equipped with various components, such as voltage Air-Insulated Switch gear (AIS), Gas-Insulated Switch gear (GIS), low voltage switch boards, power transformers, protection system, and variable frequency drives.

It is developed, manufactured, pretested, and assembled at a factory or an assembly yard before the delivery process. It can simply be connected to all the components and put on the site for operational purposes.

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Which are Some Prominent Drivers Spearheading E-House Market Growth?

The ease of installation, flexibility, and cost-effectiveness of e-house are set to propel the growth in this market. It can be easily installed in a small space owing to its simple foundation. It is extensively used in both industrial and utility applications for several benefits.

The rapid expansion of transmission capacity, disaster response, and planned maintenance are some of the major applications where e-houses are deployed. These are also used during unplanned repairs to provide temporary power supply.

Their ability to eliminate or reduce the requirement of extended electricity outages at the time of planned maintenance is expected to bode well for the e-house market growth in the future years.

What are the Challenges Faced by the E-House Industry?

The demand for e-houses had declined at a fast pace when the COVID-19 pandemic started back in December 2019. This mainly happened because of the high dependency on mining, electric utility, heavy industrial, and oil and gas sectors.

Travel restrictions and falling income of customers had also halted the expansion of the transportation sector and it has negatively impacted the oil and gas industry. This industry mainly uses e-houses for power distribution purposes and the halt of operations hampered the market.

However, at present, the COVID-19 situation is gradually coming back to normalcy, which is likely to propel the market in the evaluation period.

Why is the Middle East & Africa emerging as an Opportunistic E-House Market?

The Middle East & Africa is expected to generate the largest e-house market share in the forthcoming years. This growth is attributable to the increasing demand for e-houses from the utilities sector. In addition to this, the rapid expansion of the mining, as well as oil and gas industries in the Middle East is likely to fuel the market.

Iraq is anticipated to showcase lucrative growth in the upcoming years with the rising government investments in the upgradation of basic amenities, including power supply. The ongoing development of cost-effective e-houses is another crucial factor that is set to augur well for the regional market.

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How is North America Contributing to Growth of the E-House Market?

The increasing number of mining activities in the U.S. is projected to augment the sales of e-houses in North America during the evaluation period. The U.S. is considered to be one of the major producers of coal in this region. According to the U.S. Energy Information Administration (EIA), in 2020, the total productive capacity of coal mines was 933 million short tons (MMst) in this country. This number is expected to grow at a steady pace in future years, thereby fueling the regional market.

The presence of a well-established chemical sector in this region is another significant factor that is estimated to accelerate the market. Government agencies are also set to invest in the development of the oil and gas industry, which is likely to create new growth opportunities for key players in North America.

Market Competition

Some of the leading players operating in the global e-house market include ABB, Powell Industries Inc., Siemens AG, Meidensha Corporation, Atlas Electric, WEG Industries, Elgin Power Solutions, Eaton Corporation, General Electric, CG Power, TGOOD Global Ltd., and Schneider Electric SE among others.

Majority of the companies present in the global market are focusing on adopting multiple inorganic strategies, such as agreements and contracts to improve their existing product offerings and generate more shares. Some of the other key players are aiming to join hands with start-up companies to co-develop innovative products and expand their geographic presence.

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Key Segments Profiled in the E-House Industry Survey

By Voltage:

  • Medium Voltage
  • Low Voltage

By Product Type:

  • Fixed E-House
  • Substation

By Application:

  • Chemicals
  • Mining
  • Oil & Gas
  • Utilities
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Easter Europe
  • APEJ
  • Japan
  • Middle East & Africa

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The post E-House Market is Set to Exhibit Growth at a Considerable CAGR of 5.4% from 2022 to 2032 | FMI appeared first on Future Market Insights.

Original Source of the original story >> E-House Market is Set to Exhibit Growth at a Considerable CAGR of 5.4% from 2022 to 2032 | FMI

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