Global Electronic Homes Market Industry Growth, Drivers, Competitive Landscape | expected to grow by approximately $1.97 billion by 2028
The Global Electronic Homes Market report represents the segmentation on the basis of type, application, and geographical regions, to describe and forecast the market
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SUITE N202, NEW YORK, USA, October 8, 2022 /EINPresswire.com/ — North America is expected to record the highest global e-home market growth during the forecast period due to the growing demand for power consumption for data centers, metal mining and others as well as rampant urbanization in the region. The Middle East and Africa are expected to contribute significantly to the growth of the global market due to their most revenue-generating sectors like oil and gas, mining, and utilities. Growing electrification in Dubai countries is expected to contribute to the growth of the regional market. Asia-Pacific is expected to register low growth over the forecast period due to a shifting preference for mobile power solutions. The global e-home market is present in industries such as oil and gas, railways, aerospace, chemicals, and metal manufacturing. They are used in both large and small scale projects and help keep energy costs under control. The major players operating in the global electronic homes market are Axis Solutions Pvt Ltd., ABB, Eaton, BMarko Structures Inc., Schneider Electric, General Electric, Siemens AG, Panel Built Incorporated, TECO Corporation, and Kasa Analgen.
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Global Electronic Home Market: Growth Drivers
Acceptance of SF6 replacement for less environmental impact drives market
The global electric home market is driven by the substitution of SF6 to reduce the environmental effect. SF6 (sulphur hexafluoride) has been used as a switching medium and insulator for electrical equipment in electronic homes for decades due to its unique characteristics. However, because SF6 is a greenhouse gas, it incurs lifecycle management expenses, which increase as more aging substations are decommissioned. In fact, a major SF6 supplier such as ABB has been researching alternatives with lower environmental effect, arc interruption and similar insulation characteristics to SF6 in recent years. This goal has already been achieved and in Switzerland the world’s first pilot installation of gas-insulated switchgear (GIS) using a new gas combination has recently been commissioned. All these factors will contribute to the growth of the market over the forecast period.
In February 2020, GE Power recently supplied an electronic house and VSDS to Shell Nederland Chemie BV’s petrochemical facility. GE’s VSDS combines a high-speed induction motor and variable drive to achieve over 90% compressor train energy efficiency.
In May 2021, in Minas Gerais, WEG announced a collaboration with Vale for the manufacture of E-Houses. The two companies have signed a contract for the delivery of solar electric houses for the execution of the Sol do Cerrado project, which is one of the largest photovoltaic energy production parks in Brazil.
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Global Electronic Homes Market: Constraints
High Installation Costs Associated With Electronic Home May Restrain Market Growth
After designing and manufacturing the electronic house, pre-assembly is required, which includes the construction and coating of the steel frame, the mechanical installation of the equipment and the installation of the floor, wall elements and roof. In addition, before delivery to the project site, the electrical equipment and auxiliary systems of the electronic house should be thoroughly inspected and tested to ensure their high quality and operation. All these factors lead to high costs which in turn can hinder the growth of the market.
Global Electronic Home Market: Opportunities
The increasing rate of digitization in the e-house sector is likely to provide better opportunities for market growth.
The global e-home market is driven by digitalization of e-home. The digital revolution is on the way and has already made significant progress in the energy sector, presenting huge opportunities and benefits. From generation to customer relationship management, the influence of digitalization on electrical distribution aims to improve operations and increase flexibility throughout the electricity value chain. By minimizing the switchgear footprint in the substation room and efficiently managing energy for switchgear operation, the installation of digital switchgear already contributes significantly to improving operating efficiency. For example, in a medium voltage switchgear with 30 panels at 11 kV, the width can be reduced by about 7%, and the energy consumption of the switchgear is reduced by about 300 MWh over its lifetime. life. Governments and regulators are now encouraging better environmental measurement systems and standards for production and consumption, as well as more efficient use of resources. These initiatives are helping to drive the demand for smarter distribution equipment, such as digital switchgear, which is helping the market grow.
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Global electronic home market: challenges.
Low market penetration in low and middle income countries can pose a major challenge for market growth
The electronic home mainly depends on internet connectivity, which is considered poor in underdeveloped countries. Low disposable income and poor infrastructure are also some of the factors responsible for poor or poor internet connections in low- and middle-income countries. All these factors pose challenges for the growth of the market.
Electronic home market: segmentation
The global electronic home market is segmented on the basis of type, application, voltage type and region. Based on type, the global market is divided into fixed E-house and mobile substations. The application segment includes utilities and industry. By voltage type, the market is split into medium and low.
The global electronic home market is segmented by region
The rest of Europe
South East Asia
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
Rest of the Middle East and Africa
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