The E-house market in North America is expected to grow from US$ 474.67 million in 2022 to US$ 631.20 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
Ease of Installation, Cost-Effectiveness, and Flexibility of E-House
E-houses are also known as electrical houses or integrated power assemblies. They are pre-assembled, walk-in modular outdoor enclosures that store low- and medium-voltage switchgear and various ancillary equipment such as utility-grade switchgear, paralleling switchgear, and custom controls. E-houses can be easily mounted on a skid/wheel and trailer; it takes only a few minutes to set up. Also, E-houses are sustainable alternatives to traditional on-site structures. A few major applications of E-houses are disaster response, rapid transmission capacity expansion, and temporary power supply for unplanned repairs. Other uses of E-houses involve grid coupling, balancing fossil and renewable energy sources at plants, and housings for electrical energy storage systems. Before the delivery process, fundamental components—such as bus bars, components, power management systems, and HVAC—are thoroughly monitored and tested, thus leading to a lower risk of failure at the work site. The entire procedure of installation and relocation of the E-house is simple and cost-effective because of its mobility. Adding to this, E-houses can be positioned near significant loads to minimize the length and size of power and control connections. Moreover, E-houses are designed and constructed per various standards. They are also tested and certified for the different markets: UL/CE/GOST&EAC. These factors help boost demand for E-houses, thus leading to increased revenue generation potential in the coming years. Furthermore, e-Houses lead to substantial savings by reducing planning costs by up to 50%. Also, as a prefabricated electrical building, the E-house is delivered fully integrated and pre-tested, reducing workers' presence at the construction site and installation time. Due to the modularity and compact design of E-houses, the end users benefit from an optimized footprint, adding up the total savings of up to 20% of the total costs of ownership (TCO) compared to traditional power distribution substations. Other benefits of the E-houses include easy integration (plug-and-play), reduced installation time at the construction site, shortened test and commissioning time with pre-commissioned E-houses, and site conditions do not affect the delivery time, and reduced cable cost between integrated equipment, among others.
The US, Canada, and Mexico are the key contributors to the E-house market in the North America. Governments of various North American countries are investing in their country's electricity sector. BMarko Structures, Becker/SMC, Keltour US Inc., and SWARTZ Engineering are a few of the prominent companies operating in the North America E-house market . According to the US Department of Energy, in August 2022, Biden-Harris Administration in the US launched a US$ 10.5 billion investment to support the development of the country's electric grid. Moreover, the Canadian government approved Equinor's offshore oil project worth US$ 12 billion. The project will involve building a floating production unit for storage and offshore offloading (FPSO). Further, in June 2022, two Brazilian companies, Braskem Idesa and Avario, a subsidiary of Oiltanking, announced to jointly construct and operate the greenfield ethane import terminal in Mexico for US$ 400 million; the project is expected to be completed by 2024. Such projects will increase the demand for E-house across the region during the forecast period.
North America E-House Market Revenue and Forecast to 2028 (US$ Million)
North America E-House Market Segmentation
The North America E-house market is segmented into type, component, application, and country.
Based on type, the market is bifurcated into fixed substation and mobile substation. The mobile substation segment registered the larger market share in 2022.
Based on component, the market is segmented into transformer, bus bar, power management system, variable frequency drive, switchgear, HVAC, and others. The transformer segment held the largest market share in 2022.
Based on application, the market is bifurcated into industrial and utilities. The industrial segment held the larger market share in 2022.
Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
ABB Ltd; Becker Mining Systems AG; Eaton; Powell Industries, Inc.; Powergear Limited; Schneider Electric SE; Sécheron; Siemens AG; StarFlite Systems; and WEG are the leading companies operating in E-house market in the North America region.
At 4.9% CAGR, the North America E-House Market is speculated to be worth US$ 631.20 million by 2028, says The Insight Partners
According to the Insight Partners’ research, the North America E-House market was valued at US$ 474.67 million in 2022 and is expected to reach US$ 631.20 million by 2028, registering a CAGR of 4.9% from 2022 to 2028. Surge in demand for E-houses from oil & gas sector and ease of installation, cost-effectiveness, and flexibility of E-house are the critical factors attributed to the market expansion.
Earlier, the market players in the oil & gas industry obtained their drives, switchgear, and automation systems from multiple electrical equipment suppliers and houses through fabricators. But the rising demand for reduced cost, risks, and delivery time steered the industry to move away from old practices and toward the E-house. Further, increased strategic initiatives, such as investments by the market players, are major factors driving the growth of the North America E-house market in the oil & gas industry.
On the contrary, lack of technical expertise, high maintenance and replacement cost, and impact of covid -19 pandemic hurdles the growth of North America E-house market.
Based on type, the North America E-house market is bifurcated into fixed substation and mobile substation. The mobile substation segment held 59.0% market share in 2022, amassing US$ 280.15 million. It is projected to garner US$ 395.47 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on application, the North America E-house market is bifurcated into industrial and utilities. The industrial segment held 75.1% market share in 2022, amassing US$ 356.24 million. It is projected to garner US$ 487.56 million by 2028 to expand at 5.4% CAGR during 2022–2028.
Based on component, the North America E-house market is segmented into transformer, bus bar, power management system, variable frequency drive, switchgear, HVAC, and others. The transformer segment held 32.9% market share in 2022, amassing US$ 156.16 million. It is projected to garner US$ 178.99 million by 2028 to expand at 2.3% CAGR during 2022–2028.
Based on country, the North America E-house market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 68.3% market share in 2022. It was assessed at US$ 324.10 million in 2022 and is likely to hit US$ 450.67 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players profiles in the North America E-house market report are ABB Ltd; Becker Mining Systems AG; Eaton; Powell Industries, Inc.; Powergear Limited; Schneider Electric SE; Sécheron; Siemens AG; StarFlite Systems; and WEG, among others.
April 2022, ABB and Samsung Electronics will collaborate in a global partnership to provide jointly developed technologies for energy savings, energy management, and the smart Internet of Things (IoT) connection of both residential and commercial buildings. Buildings generate almost 40 percent of annual global CO2 emissions1, and the partnership between the two companies will create a platform to build a long-term relationship for innovation on smart technology, smart control, and smart devices. In parallel to the home automation solutions, the two companies intend to expand collaboration between the Samsung Electronics heating, ventilation, and air-conditioning (HVAC) products and variable refrigerant flow (VRF) room control system and the ABB HVAC control system for commercial buildings and multi-dwelling developments.