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Electric House Market By Type (low voltage e-houses and high voltage e-houses); By end-user (oil and gas, mineral, mine and metal, power utilities, marine and railways) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Electric House Market to surpass USD 2.2 billion by 2030, which is valued at 1.2 billion in 2021 at a compound annual growth rate of 6.3%.
Electric house or e-house is also called powerhouse, prefabricated substation, modular substation, and compact powerhouse. It is a comprehensive solution designed, assembled, and tested for power distribution usage. It might be wheel-mounted or skid mounted and requires the easy installation and is time-saving as it is an alternative to the traditional houses that are constructed on-site. It is used in various applications such as in oil and gas, minerals and mine, power utilities, railways, and marines by high voltage or low voltage e- houses.
Electric House Market is expected to project a CAGR of 6.3% during the forecast period, 2021-2030
The features of E- houses such as cost-effectiveness, easy installation, flexibility, and installation into limited spaces are likely to drive the market growth. Increased exploration activity in offshore oil and gas, increased mining growth, and rising demand for e-houses globally and from renewable sectors are also expected to spur growth. It is used in various applications such as in oil and gas, minerals and mine, power utilities, railways, and marines by high voltage or low voltage e- houses which is also expected to drive the market growth.
Electric house market: SegmentsBy product type
it can be classified into low voltage e-houses and high voltage e-houses. Low voltage e-houses are preferred over high voltage e- houses due to their high demand in the market globally.
By end-user
it can be segmented into oil and gas, mineral, mine and metal, power utilities, marine, and railways. In the utility sector where planned maintenance and responses to disaster management are some of the areas where e-houses are used is expected to increase demand. They are also used in providing a temporary power supply in houses dominating the sector.
Cost-effectiveness, flexibility, and easy installation to increase growth
The features of E- houses such as cost-effectiveness, easy installation, flexibility, and installation into limited spaces are likely to drive the market growth. Increased exploration activity in offshore oil and gas, increased mining growth, and rising demand for e-houses globally and from renewable sectors are also expected to spur growth. It is used in various applications such as in oil and gas, minerals and mine, power utilities, railways, and marines by high voltage or low voltage e- houses which is also expected to drive the market growth.
High maintenance and lack of technical efficiency hamper the growth of the e- housing market
The transportation cost of e-houses is likely to act as a restraint in the e-housing market. The high maintenance cost and the lack of technical expertise in the field also hamper the electric housing market.
MENA holds the largest share of electric houses globally due to the presence of many oil and gas, and mining industries there which have a huge demand for the same. Rapid electrification, as well as rising demand from the metals & mining industry in the region, is also expected to drive the growth. Developing countries such as China and India also have a huge demand for railways and power utilities which is likely to increase growth in the APAC region.
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