Installation of renewable energy facilities and smart power grids is a key factor driving market revenue growth
Market Size - USD 1,325.1 Million in 2021, Market Growth - at a CAGR of 6.3%, Market Trends - Increasing rate of digitization in the E-House market
New York, September 30, 2022 - The global Electrical House or E-House market size was USD 1,325.1 Million in 2021 and is expected to register a revenue CAGR of 6.3% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by rising demand from the oil & gas industry for power distribution and control owing to its easy installation and transportation.
An E-House is a self-supporting pre-engineered building that stores and houses majority of industrial project's electrical equipment. E-Houses can contain anything from a single medium voltage Variable Frequency Drive (VFD) to a low voltage Motor Control Center (MCC) and control panel, or even entire electrical and control distribution systems for industrial process such as barren solution pump station. In addition, E-Houses come in various shapes and sizes to meet project requirements. They are essentially ready to plug and play into field devices or equipment because they are already connected. E-Houses can also be moved and once the goal of process has been served, they can be deactivated or repurposed far more easily than a permanent building.
E-houses are generally used as locations for power distribution hubs, motor control hubs, and rooms for electric equipment storage in industrial businesses and applications in data centers, oil & gas and mineral extraction facilities, electrical control centers, ballistic enclosure systems, and processing plants. Digital telecom containers are one of the newest trends, which are useful in remote locations where it may be difficult to find qualified workers.
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Some Key Highlights From the Report
- The mobile substation segment revenue is expected to account for largest share over the forecast period. When conducting a significant construction project and enormous amount of electricity needs to be used by construction equipment, a mobile substation is necessary where there is not enough space to construct an outside substation. When there is a power loss due to a storm or other disaster, mobile substations are also employed to quickly restore electrical supply, which may also offer a temporary power supply while permanent facilities are being built. It can also be utilized as a backup power source when maintaining existing equipment regularly.
- The industrial segment is expected to register a rapid growth rate over the forecast period. This segment is sub-segmented into oil & gas, mining & minerals, chemicals, and others. E-house is utilized in various industries, including oil & gas, mining and metals, chemicals, railways, and as a mobile substation, small powerhouse, and modular substation for power supply, transmission, and voltage control applications. Additionally, E-House has grown in favor of industrial applications due to its portability, simple installation, low danger, and great efficiency.
- The medium segment accounted for largest revenue share in 2021. Refining and exploration activities have increased as a result of rise in global energy demand, and offshore and onshore projects use medium voltage e-house for power supply applications.
- The Middle East & Africa market is expected to register largest revenue share over the forecast period. This growth can be attributed to utilities industry's growing demand for e-houses. Additionally, the Middle Eastern mining and oil & gas industry's rapid expansion is expected to support revenue growth of the market. Also, increasing demand from the mining industry is expected to drive market revenue growth.
- On 5 May 2021, WEG and Vale collaborated to produce E-Houses in Minas Gerais. Both firms signed a contract for delivery of solar E-Houses for execution of Sol do Cerrado Project, which is recognized as one of Brazil's largest photovoltaic power generation parks.
- Companies profiled in the market report are WEG, TGOOD Global Ltd., Powell Industries, Elgin Power Solutions, Meidensha Corporation, Matelec Group, Aktif Group, PME Power Solutions (India) Limited, Efacec, and Schneider Electric.
For the purpose of this report, Reports and Data has segmented the global E-House market based on type, application, voltage type, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
- Fixed E-house
- Mobile Substation
Application Outlook (Revenue, USD Million; 2019-2030)
- Oil & Gas
- Mining & Minerals
Voltage Type Outlook (Revenue, USD Million; 2019-2030)
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA