Global Electrical House (E-house) Market projected to grow at a CAGR of 6.4% from 2021 to 2030.
Increasing establishments of power grids, and increasing demand for power supply units in various industrial sectors are driving factors in the electrical house (e-house) market.— Allied Market Research
WILMINGTON, DE, UNITED STATES, November 6, 2024 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, The global
electrical house (E-House) market size was valued at $1.2 billion in 2020, and is projected to reach $2.3 billion by 2030, growing at a CAGR of 6.4% from 2021 to 2030.
An Electrical House (E-House), also known as a Power House or Switchgear House, is a prefabricated modular building that contains electrical equipment and systems necessary for power distribution, control, and protection. It serves as a centralized enclosure for electrical components and provides a controlled environment for their operation.
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Asia-Pacific garnered the highest share of 35.5% in 2020, in terms of revenue, growing at a CAGR of 7.1%
The major companies profiled in the
Electrical House (E-House) industry report include ABB, Axis Solutions Pvt Ltd, BMarko Structures Inc., Eaton, General Electric, Kasa Analgen, Panel Built Incorporated, Schneider Electric, Siemens AG, and TECO Corporation.
E-Houses are designed to maintain a controlled environment for the installed electrical equipment. They are equipped with proper ventilation, cooling, heating, and insulation systems to ensure optimal operating conditions, protecting the equipment from harsh environmental conditions and temperature fluctuations.
Concentrating electrical equipment in a controlled environment improves safety for personnel and reduces the risk of unauthorized access or accidental damage.
Prefabricated construction and modular design enable faster installation and commissioning compared to traditional on-site construction methods.
E-Houses can be easily relocated to different sites, making them suitable for temporary projects or situations where flexibility is required.
Electrical Houses (E-Houses) provide a practical and efficient solution for housing electrical equipment, facilitating power distribution, control, and protection in various industries and applications.
Both small and large projects in different sectors require e-house for power supply and transmission purposes. The role of e-house is gaining importance in several end-use sectors, owing to advantages such as easy installation, ease of transportation, and less space requirement.
In addition, it is a cost-effective substitute to traditional concrete block and brick construction that makes customers become more linear toward using e-house for power supply purposes.
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It is often used to reduce or eliminate the need for extended electricity outages in utility sector; thus, this factor is predicted to notably contribute toward the growth of the global market.
E-house requires trained professional to mitigate systematic errors caused during the operations, which hampers the growth of the electrical house market.
High maintaining costs associated with the use of e-house may restrain customers having less investment potential from purchasing e-house, which is expected to have a negative impact on the electrical house (e-house) market growth.
Increase in focus on emission and fuel economy has made customers more linear toward renewable energy units for power generation purposes, wherein e-house is widely used in renewable energy-based grids for power transmission applications.
The mobile substation type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030.
The industrial application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030.
The medium segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030
COVID-19 analysis
The electrical house (e-house) market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on electric utility, oil & gas, steel & metal, mining, heavy industrial, and other sectors.
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
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Several companies have either shut down or shrank their operations due to the risk of infections among the workforce where electrical house (e-house) is used for power supply purposes.
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Electrical House (E-House) Market
https://www.globenewswire.com/news-release/2021/12/14/2351752/0/en/Electrical-House-E-House-Market-Is-Expected-to-Reach-2-3-Billion-by-2030-Says-AMR.html
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