The global gas insulated substation market is estimated to grow at a 5.4% CAGR over the forecast period. In 2023, the market for gas-insulated substations is expected to be worth US$ 14.6 billion. The market for gas-insulated substations is anticipated to be worth US$ 24.6 billion by 2033.
Switchgear technical advancements, as well as a rising trend of grid improvements in both established and emerging countries, are driving demand for gas insulated substations. Air-insulated substations are more prone to poison the environment, but gas-insulated substations are less probable.
This factor is expected to drive global market expansion throughout the forecast period. Furthermore, the growing demand for compact, low-maintenance power systems is likely to boost market growth throughout the forecast period. In terms of efficiency and reliability, they outperform air-insulated substations.
The market is expected to expand as a result of increased per-hectare land values because gas insulated substations require less space than their equivalents. Owing to their smaller footprint, these substations require 90% less room to install than traditional power plants.
Globally, the emphasis has shifted toward investments in clean energy projects and renewable energy development. As a consequence of the considerable development of new renewable projects and increased electricity use, the gas-insulated substation market is projected to present good potential in the future.
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The market for gas-insulated substations is expected to grow over the following seven years as a result of rising demand for features including adaptability to fit in a structure. Compact power system demand is predicted to rise, driving worldwide market development. Its ability to function in difficult conditions such as the arctic and desert is expected to boost market size.
The market is benefiting from a considerable rise in power consumption in emerging nations as a result of various electrification initiatives. GIS is being used by several nations involved in cross-border power transmission to create lengthy transmission lines, distribution stations, and substations. The advent of digital monitoring systems that enable smart supervision of the operation of encapsulated switchgear components has benefited OEMs and distributors in the power transmission business. In recent years, manufacturers in the gas-insulated substations market have focused on commercializing products with sophisticated sealing systems and using low-weight gases, including non-SF6 gas. They are suited for arctic or desert environments due to their characteristics.
However, sulfur hexafluoride is a greenhouse gas, and its usage in substations is projected to slow market development. Moreover, the high cost of traditional power substations is projected to stymie market expansion and provide hurdles to industry participants.
Key Takeaways:
- During the forecast period, the U.S. is estimated to account for the largest share of the global gas insulated substation market. This is attributed to regional key enterprises modifying their designs to meet the operating demands of their end users at a low price without sacrificing stability or employee safety, as world leaders in both medium and high-voltage SF6 Gas Insulated Substation (GIS) spanning from 24kV to 800kV.
- During the forecast period, the Asia Pacific gas insulated substation market is expected to have the highest share, led by China and Japan. This is owing to market players who have successfully produced a standard series of phase-separated type or three-phase enclosed type GIS that achieves a very compact and exceptionally dependable construction, with years of experience.
- Owing to its ability to be planted in small areas and also deployed in residential areas and industrial complexes where continuous electricity is required, along with its portability, the “indoor” installation type is expected to hold the greatest revenue, through the forecast period.
Competitive Landscape:
To promote the brand and income, industry participants engage in a flood of focused product releases and worldwide growth. They are also spreading their reach across many continents and entering new markets, particularly in emerging countries, in order to build their consumer base and enhance their position. As a result of the rising frequency of contaminations and the development of illnesses throughout the world, industry participants are also introducing new innovative products to the market. These reasons are expected to boost the growth of the global gas insulated substation market.
Key Players:
- General Electric Company
- Hitachi Ltd.
- ABB Ltd.
- Larsen & Toubro Limited
- Siemens AG
- Mitsubishi Electric Corporation
- Eaton Corporation PLC
- Toshiba Corp
- CG Power and Industrial Solutions Ltd
- Schneider Electric SE
- Bharat Heavy Electricals Limited
- Elsewedy Electric Co S.A.E.
- Powell Industries Inc.
- Hyosung Corp
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Recent Developments:
- In November 2018, ABB has been granted a contract by German grid operator Transnet BW for an electrical substation upgrade. ABB is responsible for installing the world’s first 380kV gas-insulated switchgear under the US$ 40 million contract.
- In 2020, The Hitachi ABB Power Grids joint venture was formed by Hitachi Ltd. The new business is anticipated to offer financial power to support ambitious projects and new commercial potential as the sector embraces decentralization and digitization.
Key Segments:
By Basis of Installation:
- Indoor
- Outdoor
By Voltage Rating:
- Medium Voltage (Up to 72.5 kV)
- High Voltage (72.5 kV – 220 kV)
- Ultra-High Voltage (220 kV – 765 kV)
By End User:
- Power Transmission & Distribution
- Manufacturing & Processing
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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Table of Content
- Executive Summary | Gas Insulated Substation Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
- Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ million) & Volume (Units) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ million) & Volume (Units) Projections, 2023 to 2033
- Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Basis of Installation
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Basis of Installation, 2017 to 2022
5.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Basis of Installation, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Basis of Installation, 2017 to 2022
5.5. Absolute $ Opportunity Analysis By Basis of Installation, 2023 to 2033
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