Iraq Medium Voltage Substation Market, By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use (Metal, Utility, Mining, Oil & Gas, Transportation, Others), By Category (New, Refurbished), By Region, Competition Forecast & Opportunities, 2016-2026
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 and are expected to maintain their market dominance during the forecast period, backed by the growth in the country’s industrial and renewables sector.
In a substation, transformers are generally used to step down the incoming voltage for its distribution to end users. The growth of transformers in medium voltage substation market is driven by the need for upgradation and expansion of country’s electricity transmission network, which has been affected by the political instability and war. 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 regulatory directives subject to the grid deployment. In 2019, the Iraqi government signed a USD15 billion contract with Germany-based Siemens AG for the execution of the roadmap for the electrification of the country in order to improve the condition of the Transmission and Distribution network in the country.
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.
• 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. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the country. The analyst calculated the market size of Iraq medium voltage substation market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Medium voltage substation manufacturers, distributors and other stakeholders • Maintenance and repair companies • Organizations, forums and alliances related to medium voltage substations • Government bodies such as regulating authorities and policy makers • Market research and consulting firms 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.
In this report, the Iraq medium voltage substation market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Iraq Medium Voltage Substation Market, By Component: o Circuit Breaker o Protective Relay o Transformer o Switchgear o Others • Iraq Medium Voltage Substation Market, By Type: o Transmission o Distribution • Iraq Medium Voltage Substation Market, By End Use: o Metal o Utility o Mining o Oil and Gas o Transportation o Others • Iraq Medium Voltage Substation Market, By Category: o New o Refurbished • Iraq Medium Voltage Substation Market, By Region: o Baghdad o Basra o Nineveh o Al Anbar o Sulaymaniyah o Rest of Iraq
Competitive Landscape :
Company Profiles: Detailed analysis of the major companies present in the Iraq medium voltage substation market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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