Posted On: 2020-09-10
The metals and Mining sector are anticipated to dominate the Canada E-house Market during the forecast period– 6Wresearch
The emergence of a coronavirus pandemic is likely to cause a momentary downturn in the E-house industry as the majority of the projects to remain stalled. However, the recovery in the market is anticipated post-2020 as a channel of trade opens up and new projects start to get commissioned.
According to 6Wresearch, the Canada E-House Market size is projected to grow at a CAGR of 4.9% during 2020-26F. Growing mining activities and rapidly expanding the renewable energy sector is anticipated to boost the deployment of E-house in Canada during the forecast period. As the demand for minerals essential to produce renewable products grows the mining industry is expected to grow at a steady rate thereby opening up avenues for the installation of E-houses in exploration and mining activities.
According to Sahil Sharma, Research Analyst, Research and Consulting, 6Wresearch, “Major plans to boost the construction and manufacturing activities such as Investing in Canada Plan and Industrie 2030 are anticipated to bode well for the growth of the E-houses in the commercial domain. Furthermore, favorable business policies in regions such as British Columbia and Ontario have significantly increased investment in mining and oil sand activities. These developments are also likely to generate demand for E-houses in the coming years”
According to Sanya Sethi, Research Associate, Research and Consulting, 6Wresearch, “By Application, metal and mining is expected to dominate the market of E-house as interim power solutions such as E-house remain critical to exploration operations. Additionally, modernization of power infrastructure and grid systems in the country is also likely to generate prospects for the growth of E-houses”
Some of the major companies in the Canada E-house market include ABB, Siemens, Schneider, and Eaton.
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