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. The COVID-19
Analysis of Gas Insulated
Substation Market is enduring an exacting period with its robust
growth coming to an abrupt halt in light of the COVID-19 pandemic.
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).
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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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