UAE Medium Voltage Substation Market Expected to Grow at Strong CAGR through 2028

Rising construction activities, infrastructure development, and the establishment of new hotels and business hubs are driving the UAE Medium Voltage Substation Market.

According to TechSci Research report, “UAE Medium Voltage Substation Market - By Region, Competition, Forecast & Opportunities, 2018-2028F”, The growing demand for electricity, upcoming infrastructure projects in various nations, and the increase in construction activities reflecting the growing electricity demand in the United Arab Emirates are all expected to contribute to the medium voltage substation market experiencing healthy growth over the upcoming years. Over the course of the estimated period, it is anticipated that the UAE substation market would expand gradually. The government's growing efforts to improve the country's present infrastructure are driving the UAE medium voltage substation market in the UAE. Over the course of the forecast period, the market is predicted to be driven by expanding underground electric cable installation trends as well as the rising energy consumption of the country.

Among the main drivers of the market's growth in the UAE are the increase in building activity, infrastructure development, and the opening of new hotels and commercial centres. To connect the planned renewable energy and non-conventional fuel-based plants with the transmission grid, the governments of numerous countries in the area are also putting up transmission lines, carrying out grid development projects, adding substations, and enlarging the ones that already exist. They are also concentrating on the installation of smart meters, which is bolstering the market's expansion. In addition, government entities are making investments in the industrial, retail, hotel, and real estate sectors to raise their overall non-oil share. This is boosting the market expansion in the UAE together with rising energy consumption rates brought on by a growing population and the accessibility of cheap power. In addition to this, medium voltage substation provides quick operation, efficient separation, and manual control options. It is projected that the advantages of the product would drive market expansion.

Cross-border networks are becoming increasingly common, and governments have shown a great desire to expand the grid. An additional factor that may encourage the growth of the substation sector in the coming years is an exponential rise in power demand.

Browse over xx market data Figures spread through xx Pages and an in-depth TOC on the "UAE Medium Voltage Substation Market”

To streamline operations, major corporations are required to remove ageing infrastructure. Meanwhile, it is projected that business prospects would be hampered by stringent regulations and a higher reliance on imports.

Huge investments for the development of infrastructure in the region are planned, which, in turn, will be driving the demand in the UAE Medium Voltage Substation market. There are more than 30 upcoming megaprojects in the United Arab Emirates which enhance the demand for electricity in the UAE. The projects namely, Al Quoz Creative Zone, Mohammed bin Rashid Solar Park, Dubai Urban Tech District, Dubai Islands, Al Jurf Development Projects, Uptown Tower, Mohammed bin Rashid Library, Natural History Museum Abu Dhabi, Louvre Abu Dhabi Residences, Saadiyat mixed-use development, Sharjah Forest community, Reem Hills, Falcon Island, Reem Mall and many others contributed to the market's significant growth in the upcoming years. These projects are located in Abu Dhabi, Dubai, Sharjah and rest of the United Arab Emirates. Furthermore, the USD 28 billion Mohammed Bin Rashid Real Estate Development Project is anticipated to be finished by the end of 2035, followed by the USD 6.8 billion Abu Dhabi International Airport Expansion Project. As a result, it is anticipated that the medium-voltage substation market would grow in the forecast period. 2024-2028

The need for Middle Eastern substations is sparked by network expansions to handle infrastructure development projects and the grid integration of renewable energy sources. The transmission capacity increase of over 430,000 megavolt-amperes (MVAs) over a ten-year period would result in increased capacity in the region's distribution sector. For instance, Dubai Electric and Water Authority (DEWA) in the United Arab Emirates region has invested USD 2.31 billion on the development of its electrical network to meet the region's rising demand. Similar plans are made by Abu Dhabi's TransCo to increase 4680 MVA by 2026.

Based on End Use, there are various sub-segments namely Residential, Commercial, Industrial and Others. The industrial sub-segment is one of the leading segments in the UAE Medium Voltage Substation Market followed by the residential segment which helps to contribute to market growth during the forecast period. Due to favorable government attempts to boost non-oil sectors and diversify the economy by establishing new businesses and manufacturing facilities in the nation, the industrial segment is anticipated to have significant growth in the future. The UAE's government is also leaning toward expanding the proportion of renewable energy in the country's energy mix, which would necessitate the construction of the necessary power infrastructure. As a result, a sizeable portion of the UAE's overall market share for medium voltage substations will be taken by the industrial and power utility sectors.

Recent Developments:

The United Arab Emirates decided on October 30, 2022, to make renewable energy projects at least 50% of their total energy mix by the year 2050. . In order to connect its energy strategy with the objective of reaching climate neutrality by 2030, the Gulf state will begin rewriting it from the beginning of 2023, according to the Ministry of Energy and Infrastructure. Additionally, the minister said that there are presently 35 gigawatts of distributed power generating capacity. With the entry of many new projects at full capacity, including the Barakah Peaceful Nuclear Energy Plant, the Mohammed bin Rashid Solar Energy Complex, the Al Dhafra Solar Power Plant, the Al Taweelah Water Desalination Plant, and other strategic projects, therefore, the market growth of UAE Medium Voltage Substation market is expected to rise in the upcoming year.

In 2017, UAE announced "Energy Strategy 2050," which is regarded as the nation's first comprehensive energy strategy based on supply and demand. The strategy intends to lower the carbon footprint of electricity generation by 70%, saving AED 700 billion by 2050, and boost the share of clean energy in the whole energy mix from 25% to 50% by that time. Additionally, it aims to improve corporate and individual consumption efficiency by 40%.

The Chairman of the Sharjah Electricity, Water and Gas Authority (Sewa) confirmed on November 28, 2022, that the company had been instructed to waive Dh400 from the water, electricity, and gas consumption bills for 4,500 residents who are currently receiving assistance from Sharjah social service in order to lessen financial burdens.

As the United Arab Emirates (UAE) launches its path to achieve net zero emissions by the year 2050, Abu Dhabi's national oil and gas corporation has announced the beginning of a $3.6 billion electrification project. In order to replace natural gas at its offshore operations with clean renewable energy, the Abu Dhabi National Oil Company (ADNOC), in collaboration with utility company TAQA, aims to build a subsea transmission line. The organizations anticipate that this action will reduce carbon emissions from these offshore locations by more than 30% by 2025. According to ADNOC, this action will support the UAE's net-zero ambitions. The businesses plan to start building in 2022, with commercial operations starting in 2025.

Key market players in the UAE Medium Voltage Substation Market include:

• ABB Ltd
• Hyosung Corporation
• Alstom SA
• Siemens AG
• CG Power & Industrial Ltd
• General Electric
• Mitsubishi Electric Corporation
• Toshiba International Corporation
• Eaton FZE Middle
• AL FANAR ELECTRIC (L. L. C)
• Larsen & Toubro Limited
• Hitachi Industrial Equipment Systems Co. Ltd
• Al-Ahleia Switchgear Co.

Download Free Sample Report

Customers can also request for 10% free customization on this report.

“The development of networks with sustainable energy infrastructure, the rise in infrastructure projects, and the nation's increased need for power, all contribute to the market expansion of medium voltage substations in the UAE area. Additionally, there are various drivers namely, focus on modernization of electrification, rising demand o electricity, refurbishment & retrofit of existing grid infrastructure among others  are fuelling the market growth of the “UAE Medium Voltage Substation market in the upcoming years Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“UAE Medium Voltage Substation Market By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission & Distribution), By Category (New, Refurbished), By End Use (Residential, Commercial, Industrial {Metal & Mining, Oil & Gas, Manufacturing & Process Industries}, Others), By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of UAE Medium Voltage Substation Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in UAE Medium Voltage Substation.

Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com