Global
Gas Insulated Substation Market Overview
A
gas insulated substation refers to a structured substation in a sealed
environment with sulfur hexafluoride as an insulating medium. Major components
of gas insulated substation consist of busbar, circuit breaker, earthing
switch, current transformer, feeder disconnector, cable termination, and
control panel. These substations have major applications, mainly in utilities
and industries. The main advantages of the integration of gas insulated
substation include higher flexibility, compact size, and reliability, lesser
outages, and maintenance free. All these factors are driving the global gas
insulated substation market over the forecast period.
Moreover,
non-availability of sufficient space also drive the market of gas insulated
substation as they require compact space. These substations find major
applications in high voltage installation, urban installation, and urban
infrastructure, among many others. As per the experts at Market Research Future
(MRFR),the global Gas
Insulated Substation Market Size is expected to register a robust CAGR
of 19.50% over the forecast period.
Market
Segmentation
The
global gas insulated substation market is studied for a segmentation that is
based on diverse aspects that are enabling better understanding of the market
landscape and the reveal of intricate trends in the market. The gas insulated
substation market is segmented by voltage, installation, end-user, and region.
Based
on voltage, the global gas insulated substation market is segmented into medium
voltage, high voltage, extra-high voltage, and ultra-high voltage.
Based
on installation, the global gas insulated substation market is segmented into
indoor and outdoor.
Based
on end-user, the global gas insulated substation market is segmented into power
distribution, power transmission, power generation, infrastructure and
transportation, and industries.
Regional
Analysis
Based
on region, the global gas insulated substation market is segmented into the
Middle East & Africa, Asia Pacific, Europe, North America, and Latin America. Asia Pacific held the
largest share of the global gas insulated substation market at the beginning of
the forecast period. Asia Pacific is estimated to witness market dominance over
the forecast period, as per the latest report by Market Research Future (MRFR).
It has also been prognosticated that Asia Pacific’s gas insulated substation
market is expected to gain fastest growth rate over the forecast period. Such
growth can be accredited to the increased power consumption in almost all
countries of the globe. Further, government mandates on the efficient use of
energy has also led to higher adoption of gas insulated substations, hence,
driving the regional market. A rising influx of renewable resources in the energy
mix has contributed exponentially to the growth of the regional gas insulated
substation market. Further, an upgradation of aging hydropower plants in Asia
Pacific is also expected to drive the global gas insulated substation market.
Key
Players
Some
noteworthy players in the global gas insulated substation market include Toshiba
Corporation (Japan), Siemeaxns AG (Germany), Crompton Greaves (India), Fuji
Electric Co. Ltd (Japan), Hitachi Ltd. (Japan), Schneider Electric (France), ABB
Ltd. (Switzerland), Larsen & Toubro (India), Hyundai Heavy Industries
(South Korea), General Electric (US), Hyosung Corporation (South Korea), and
Mitsubishi Electric Company (Japan).
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