Gas Insulated Substation Market Size, Share, Growth Segmentation Analysis and Forecasts 2025 – iCrowdNewswire
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Aug 14, 2019 2:00 PM ET

Gas Insulated Substation Market Size, Share, Growth Segmentation Analysis and Forecasts 2025


Gas Insulated Substation Market Size, Share, Growth Segmentation Analysis and Forecasts 2025

iCrowd Newswire - Aug 14, 2019

The global gas insulated substation market is expectant to reach US$ 41,059.8 million by 2025 as compared to US$ 15,416.1 million in 2016, escalating at a CAGR of 19.4% during the forecast period from 2017 to 2025. 

Gas insulated substations are one kind of power generation and distribution centers used for transmitting electricity using a human made gas known as Sulphur hexafluoride (SF6). There are two types of gas insulated substations such stationery and mobile gas insulated substations. The market for gas insulated substations is poised to grow over the years owing to the huge demand for power generation in the urban areas where the availability of space is limited to accommodate air insulated substations. Furthermore, the established companies as well as the emerging companies in the industry are researching on development of robust technologies in order to enhance the operation of gas insulated substations and meet the surging demand for power generation. The South America gas insulated substation market region is expected to witness a CAGR growth rate of 16.9% in the coming years.

 

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The largest market players have footprint in Asia Pacific region such as Hyosung Corporation, Toshiba Corporation, Nissin Electric Co. Ltd., Mitsubishi Electric Corporation and CG Power and Industrial Solutions Ltd. Among others.

 

The gas insulated substations market is segmented on basis of voltage transmission by the GIS such as high voltage, and ultra-high voltage. The gas insulated substations which transmit high voltage installs high voltage switchgear which consists of high voltage components such as circuit-breakers, and disconnectors that can be used in a confined area. The ultra-high voltage transmitting gas insulated substation transmit highest voltage level for bulk alternating current usage. These ultra-high voltage gas insulated substations are used to connect the power generation plants with areas at a long distance, and also to improve network stability. The need for power transmission and distribution in developed countries and developing countries are increasing rapidly, and the demand for transmission of generated power to a long distance is rising at a similar pace. Coupling the two factors, the need for high voltage and ultra-high voltage gas insulated substation is surging significantly, which in turn is helping the market for GIS to propel over the period from 2017 to 2025.

 

Asia Pacific includes countries such as India, China, Japan, and South Korea. This region accounted for over 52% of the global gas insulated substations market owing to the presence of some of the largest gas insulated substations installed countries such as China, Japan and South Korea. Large manufacturing industry for automotive, semiconductors and electronics along with low availability of land has triggered the growth in the installation of gas insulated substations over air insulated ones. However harsh climatic conditions as well as seismic conditions has influenced over the adoption of much compact gas insulated substations. However, countries such as India, China and Japan are some of the largest energy consumer over the world. High population has also made availability of free land even more treacherous thus, giving space for the growth of gas insulated substations in the region. 

 

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Key findings of the study:

 

As the global population is increasing exponentially, the usage of electronic appliances, electronic gadgets as well as electric vehicle among others are also increasing simultaneously. This in turn is demanding for more power generation and distribution in different regions of the globe, leading to rise in installation of power transmission and distribution centers, especially gas insulated substations. Attributing to this fact, the power transmission and distribution segment dominated the market for gas insulated substations in 2017, with a market share of 66.2% of the overall revenue. In addition, the segment is also projected to grow at a significant rate over the period from 2017 to 2025, capturing the maximum share of the market in the coming years. The growth rate of power transmission and distribution segment in the gas insulated substation market is anticipated to be 19.5% during the forecast period from 2017 to 2025.

 

Middle East & Africa is expected to be the fastest growing region in the gas insulated substation market during the forecast period from 2017 to 2025. The major factors driving the GIS market in the region is anticipated to be the growing urbanization and industrialization in the region, which is leading to huge demand of electricity generation and distribution across the region. In addition, the growing urbanization and commercialization is leading to space constraints in the region, which is also a positive factor driving the market for gas insulated substations since, the GIS requires very less space as compared to air insulated substations.

 

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Keywords:    Gas Insulated Substation Market, Gas Insulated Substation, Gas Insulated Substation Industry

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