Gas insulated substation Market: 2020 COVID – 19 Analysis, Opportunities and Forecast to 2023

Gas Insulated Substation Market Highlights

The global gas insulated substation market is estimated to expand at ~19.5% CAGR during the forecast period. A gas insulated substation is a substation which is structured in a sealed environment with sulfur hexafluoride as the insulating medium. A gas-insulated substation uses a superior dielectric gas and SF6 at moderate pressure for phase-to-phase and phase-to-ground insulation. The major components inside the grounded metal enclosures include high voltage conductors, circuit breaker interrupters, switches, current transformers, and voltage transformers. These substations find its application mainly in utilities and industries. These substations are generally compact and are multi-component assembly. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 on Gas Insulated Substation Market is included in the present report.    

The growing demand for gas insulated substation is attributed to increasing environmental concerns. Moreover, less space in urban areas is also driving the market for gas insulated substation. One of the major restraints of the gas insulated substation is the lack of sufficient land infrastructure to set up new gas insulated substations.   

Industry Segmentation

The market for gas insulated substation is segmented based on end-user as power distribution, power transmission, power generation, infrastructure & transportation, and industries. Power distribution segment dominates the market as gas insulated substations create a new opportunity for power distribution utility providers where space constraint is a challenge. These kinds of substations are compact in size, thus overcome the major challenge of space constraint.   

Leading Players

The key players of the global gas insulated substation market are Toshiba Corporation (Japan), Siemens AG (Germany), Fuji Electric Co. Ltd (Japan), Crompton Greaves (India), Hitachi Ltd. (Japan), ABB Ltd. (Switzerland), Schneider Electric (France), Larsen & Toubro (India), General Electric (US), Hyundai Heavy Industries (South Korea), Hyosung Corporation (South Korea), and Mitsubishi Electric Company (Japan). 

Regional Outlook

Region wise, Asia Pacific held the largest market share of the global gas insulated substation market in 2017. It is also estimated that Asia-Pacific region would also be the fastest growing market during the forecast period. Moreover, factors such as increased power consumption, government mandates on energy efficiency, rising influx of renewable resources in the energy mix, and upgradation of ageing hydropower plants in Asia-Pacific are driving the market for global gas insulated substation. 

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.