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Taiwan Switching Station & Substation Industry Analysis
The Electrical Switching Station & Substations industry in Taiwan has been witnessing significant growth in recent years due to the increasing demand for electricity in the country. The industry plays a crucial role in the power transmission and distribution process, ensuring that electricity is delivered safely and efficiently to consumers.
Current Scenario:
As of 2021, Taiwan has 180 high-voltage substations and 2,633 low-voltage substations, with a total capacity of 54,344 megavolt-amperes (MVA). The majority of these substations are owned and operated by state-owned power utility companies, Taipower and Taiwan Power Company (TPC).
The industry is highly competitive, with a number of local and international players operating in the market. Major players in the industry include Siemens AG, ABB Ltd, Mitsubishi Electric Corporation, and Toshiba Corporation. These companies provide a range of products and services including engineering, procurement, and construction (EPC), operation and maintenance (O&M), and equipment supply.
Construction of New Projects:
The Taiwanese government has been investing heavily in the development of the country's electricity infrastructure, including the construction of new substations and upgrading existing ones. In 2020, the government announced plans to invest TWD 243 billion (USD 8.7 billion) in the country's electricity grid over the next decade, with a focus on renewable energy sources.
One of the major projects currently under construction is the Hsinta Power Plant Project, which includes the construction of a new 161 kV substation and the expansion of an existing 345 kV substation. The project is expected to be completed in 2024 and will provide additional electricity supply to the southern region of Taiwan.
Major Drivers:
The increasing demand for electricity in Taiwan is a major driver of the Electrical Switching Station & Substations industry. The country has been experiencing rapid economic growth in recent years, which has led to an increase in electricity consumption.
In addition, the Taiwanese government has been actively promoting the development of renewable energy sources such as solar and wind power. This has led to an increased demand for new substations to connect renewable energy facilities to the grid.
Industry Outlook:
The Electrical Switching Station & Substations industry in Taiwan is expected to continue growing in the coming years, driven by the government's focus on developing the country's electricity infrastructure and promoting renewable energy sources. The industry is also likely to see an increase in the adoption of digital technologies such as automation and remote monitoring, which can improve the efficiency and safety of the power transmission and distribution process.
In conclusion, the Electrical Switching Station & Substations industry in Taiwan is a crucial component of the country's electricity infrastructure. With the government's continued investment in the industry and the increasing demand for electricity, the outlook for the industry is positive, providing opportunities for both local and international players.
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