Iraq medium voltage substation market stood at USD223.36 million in 2020 and is forecast to grow at a CAGR of 5.61% until 2026. Growth in the medium voltage substation market is driven by growing electricity demand, increasing focus on renewable energy and rise in industrial sector in the county. Furthermore, upgradation and expansion of the electricity transmission network across the country and support from the Iraqi government are expected to create an opportunity for the medium voltage substation market in the near future. Also, the growing focus of government towards diversifying the national economy away from oil and gas and encouraging sustainable use of resources such as the adoption of solar energy is further catalyzing the growth of the medium voltage substation in the country.
Based on component, the market can be segmented into Circuit Breaker, Protective Relay, Transformer, Switchgear and Others. Transformers dominated the market in 2020
Based on type, the market can be bifurcated into Transmission and Distribution. The distribution segment dominated the market in 2020 and is expected to maintain its leading position in the forecast period as well. A substation steps-down high voltage electricity from the transmission system to lower voltage electricity so that it can be distributed to the end users via distribution lines. Based on end use, the market can be segmented into Metal, Utility, Mining, Oil & Gas, Transportation and Others. The utility segment dominated the market in 2020 and is expected to maintain its dominance until 2026 owing to the increasing support from the government for utility aided electrical infrastructure and
Based on category, the market can be bifurcated into New and Refurbished. New segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to the increasing power consumption in Iraq that has been growing at a high rate. Furthermore, rising population, increasing number of industries and growing number of houses are expected to increase the installation of new medium voltage substations in the country.
On the basis of region, Baghdad held the largest share in Iraq medium voltage substation market in 2020 and is expected to maintain the market dominance during the forecast period owing to the large electricity demand in the country from this region. Majority of the planned power system networks by the government and transmission lines passes through the region making it a dominant region in the segment. Some of the major players in the Iraq medium voltage substation market include Siemens AG, Schneider Electric SE, ABB Limited, General Electric Company, Hyundai Engineering & Construction Co. Ltd., Toshiba Energy Systems & Solutions Corporation, CR Technology Systems S.p.A., Matelec Group, Al-Handasya Electric, CG Power and Industrial Solutions Limited.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
- To analyze the historical growth in the market
size of Iraq medium voltage substation market from 2016 to 2020.
- To estimate and forecast the market size of the
Iraq medium voltage substation market from 2021 to 2026 and growth rate
until 2026.
- To classify and forecast Iraq medium voltage
substation market based on by component, by type, by end use, by category, by company and by region.
- To identify the dominant region or segment in
the Iraq medium voltage substation market.
- To identify drivers and challenges for Iraq medium
voltage substation market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Iraq
medium voltage substation market.
- To conduct pricing analysis for Iraq medium
voltage substation market.
- To identify and analyze the profile of leading
players operating in the Iraq medium voltage substation market.
- To identify key sustainable strategies adopted
by market players in the Iraq medium voltage substation market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of
Market insights research calculated the market size of
Key Target Audience
- Medium voltage substation manufacturers, distributors and other stakeholders
- Maintenance and repair
companies
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The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
