Report : Asia Pacific E-House Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Fixed Substation and Mobile Substation), Component (Transformer, Bus Bar, Power Management System, Variable Frequency Drive, Switchgear, HVAC, and Others), and Application (Industrial and Utilities)
At 7.5% CAGR, the Asia Pacific E-House Market is speculated to be worth US$ 591.08 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Asia Pacific E-house market was valued at US$ 383.00 million in 2022 and is expected to reach US$ 591.08 million by 2028, registering CAGR of 7.5% from 2022 to 2028. Technological advancements in E-houses and surge in demand for E-houses from oil & gas sector are the critical factors attributed to the market expansion.
The addition of new features such as enhanced security levels, data management, linking applications with artificial intelligence (AI), smart control, innovative lighting technology, etc. is one of the major trends impacting the growth of the Asia Pacific E-house market. AI-powered E-house can reduce energy consumption and carbon footprints by controlling smart plugs, smart thermostats, and automated lighting sensors. It can be said that technological advancements are an evolution in the Asia Pacific E-house market. Also, the support provided by E-houses in expanding to new plant locations or setting up new sites is likely to propel the growth of the Asia Pacific E-house market. Many companies are offering integrated E-houses to keep themselves ahead of their competitors. For instance, Schneider Electric installs, deploys, and manages E-houses and associated risks under its mining package. The integrated E-house helps in effective and smooth communication to the data center automated facilities of the business and between the officers. Further, the digital revolution of E-house in the energy sector is underway and has already made significant headway, providing enormous advantages and growth prospects. From electricity generation to management of customer relations, the influence of digitalization on electrical distribution is designed to increase flexibility throughout the value chain and enhance operations. By reducing the switchgear footprint in the substation room and managing switchgear operation effectively, installing digital switchgear already helps significantly to enhance operating efficiency. For instance, in medium-voltage switchgear with 30 panels at 11 kV, the width may be lowered by around 7% and the switchgear's energy consumption is reduced by about 300MWh throughout its lifespan. Various regulatory bodies and government associations encourage better measurement systems, environmental standards and regulations for generation and consumption, and more effective resource usage.
On the contrary, lack of technical expertise, high maintenance and replacement cost, and impact of covid -19 pandemic hurdles the growth of Asia Pacific e-house market.
- Based on type, the Asia Pacific E-house market is bifurcated into fixed substation and mobile substation. The mobile substation segment held 67.2% market share in 2022, amassing US$ 257.19 million. It is projected to garner US$ 417.60 million by 2028 to expand at 8.4% CAGR during 2022–2028.
- Based on application, the Asia Pacific E-house market is bifurcated into industrial and utilities. The industrial segment held 67.3% market share in 2022, amassing US$ 257.62 million. It is projected to garner US$ 418.45 million by 2028 to expand at 8.4% CAGR during 2022–2028.
- Based on component, the Asia Pacific E-house market is segmented into transformer, bus bar, power management system, variable frequency drive, switchgear, HVAC, and others. The transformer segment held 30.1% market share in 2022, amassing US$ 115.38 million. It is projected to garner US$ 147.65 million by 2028 to expand at 4.2% CAGR during 2022–2028.
- Based on country, the Asia Pacific E-house market has been categorized into China, Japan, India, Australia, South Korea, and rest of Asia Pacific. Our regional analysis states that China captured 35.9% market share in 2022. It was assessed at US$ 137.62 million in 2022 and is likely to hit US$ 221.07 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players profiles in the Asia Pacific E-house market report are ABB Ltd; Becker Mining Systems AG; Eaton; Powell Industries, Inc.; Powergear Limited; Schneider Electric SE; Sécheron; Siemens AG; and WEG, among others.
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