Report : North America 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 4.9% CAGR, the North America E-House Market is speculated to be worth US$ 631.20 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the North America E-House market was valued at US$ 474.67 million in 2022 and is expected to reach US$ 631.20 million by 2028, registering a CAGR of 4.9% from 2022 to 2028. Surge in demand for E-houses from oil & gas sector and ease of installation, cost-effectiveness, and flexibility of E-house are the critical factors attributed to the market expansion.
Earlier, the market players in the oil & gas industry obtained their drives, switchgear, and automation systems from multiple electrical equipment suppliers and houses through fabricators. But the rising demand for reduced cost, risks, and delivery time steered the industry to move away from old practices and toward the E-house. Further, increased strategic initiatives, such as investments by the market players, are major factors driving the growth of the North America E-house market in the oil & gas industry.
On the contrary, lack of technical expertise, high maintenance and replacement cost, and impact of covid -19 pandemic hurdles the growth of North America E-house market.
Based on type, the North America E-house market is bifurcated into fixed substation and mobile substation. The mobile substation segment held 59.0% market share in 2022, amassing US$ 280.15 million. It is projected to garner US$ 395.47 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on application, the North America E-house market is bifurcated into industrial and utilities. The industrial segment held 75.1% market share in 2022, amassing US$ 356.24 million. It is projected to garner US$ 487.56 million by 2028 to expand at 5.4% CAGR during 2022–2028.
Based on component, the North America E-house market is segmented into transformer, bus bar, power management system, variable frequency drive, switchgear, HVAC, and others. The transformer segment held 32.9% market share in 2022, amassing US$ 156.16 million. It is projected to garner US$ 178.99 million by 2028 to expand at 2.3% CAGR during 2022–2028.
Based on country, the North America E-house market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 68.3% market share in 2022. It was assessed at US$ 324.10 million in 2022 and is likely to hit US$ 450.67 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players profiles in the North America E-house market report are ABB Ltd; Becker Mining Systems AG; Eaton; Powell Industries, Inc.; Powergear Limited; Schneider Electric SE; Sécheron; Siemens AG; StarFlite Systems; and WEG, among others.
April-2022, ABB and Samsung Electronics will collaborate in a global partnership to provide jointly developed technologies for energy savings, energy management, and the smart Internet of Things (IoT) connection of both residential and commercial buildings. Buildings generate almost 40 percent of annual global CO2 emissions1, and the partnership between the two companies will create a platform to build a long-term relationship for innovation on smart technology, smart control, and smart devices. In parallel to the home automation solutions, the two companies intend to expand collaboration between the Samsung Electronics heating, ventilation, and air-conditioning (HVAC) products and variable refrigerant flow (VRF) room control system and the ABB HVAC control system for commercial buildings and multi-dwelling developments.
Contact Person: Sameer Joshi